As a major banking center, Charlotte is known worldwide as a city built on money.
But for young financial technology – or fintech – companies trying to become the next PayPal or Square, the city still lacks in the investment dollars they need to develop and flourish.
That’s why Queen City Fintech, a local organization that helps nurture fintech startups, hosted a conference this week designed to put young companies in the same room with the investors they need to fuel their growth.
More than 125 people attended the inaugural Southeast Fintech Venture Conference on Monday to hear presentations from investors, fintech success stories such as small-business lender Kabbage and new firms just getting off the ground, including some from Charlotte. Sponsors included investment firm Frontier Capital and asset manager Barings, which hosted the event at its new Tryon Street headquarters.
Dan Roselli, Queen City Fintech’s co-founder and managing director, says Charlotte’s fintech scene, in baseball terms, is in the top-level of the minor leagues. He notes the city has a number of firms that make investments in more mature companies but not as many that make riskier, early-stage venture capital investments.