Back in the early 2000’s the concept of Paypal was quite alien. Convincing customers to share their emails, banking and credit card information in return for fast, low-cost payments.
“I remember when PayPal first came to us in the early 2000’s and I re-read their business introductory paragraph at least 10 times. Said Alison Power, 2022. “It just sounded so different and revolutionary and it was hard to imagine a payment gateway that was purely online at the time.”
Paypal as a scale-up
The PayPal original idea was to create an internet currency to replace the dollar. The first version of PayPal allowed people to send money from one PalmPilot to another. But not enough people had PalmPilots for that to be viable. Instead, since everyone had email, the company created a way to send payments via email. It worked well, but expenses were growing faster than customers.
Small businesses, online merchants, and consumers quickly signed on, with the company handling more than $3 billion in payments from 10.2 million individual consumers and 2.6 million commercial customers within three years of opening its doors. Now, Paypal is worth over $220 billion and is considered one of the most valuable Fintech companies globally. Paypal is one of the first Fintech companies to primarily operate via the internet, making it a trailblazer for the growth of future digital Fintech organizations.
Earthport bought by Visa in 2019
Earthport, a company that provides cross-border payment and money transfer services to banks and businesses, is another great example of a scale-up changing the way consumers do things. Finiti supported their growth through talent acquisition and sales recruitment, hiring most of their commercial team and working with them during one of their main growth periods. In 2019 Visa purchased Earthport. The ultimate buy-out for any scale-up in the payments space.
This acquisition will allow Visa customers to make efficient transfers to companies and individuals that currently bank. Similarly to Paypal, this is modernizing the way consumers transfer money in a simple, fast and safe way.
From day one, Finiti has been able to recognize the incredible value these organisations bring to the Paytech sector and have been readily available to help them expand in their space.
Broadridge and Rockall technologies
Broadridge and Rockall Technologies, have also worked with Finiti Search to expand their team and support their growth. Finiti has hired senior sales in London and their Head of sales for North America before they were acquired and now continue to hire for them now within Broadridge.
“At all times I have found Finiti to be excellent, able to source the right candidates both experience / skill fit and team fit ; good at articulating the target role to those candidates to get them interested; and hugely important, well able to manage candidates through the entire interview and offer and closing cycle to actually get them on board,” said Richard Bryce, former President and GM of Rockall.
Finiti Search has seen and worked with many start-ups and scale-ups across the Fintech sector and continues to do so even more prominently, given today’s landscape of fast growing start-ups and increasing funding for the sector.
Finiti Search is ready and well-equipped with years of industry experience to help your organisation adapt and grow in a continually evolving landscape. Get in touch with us here.
