The global fintech market is among the most rapidly growing ones in the world. Last year’s mind-boggling investments made the fintech sector enter a new stage of its journey. Let’s discuss the topic more thoroughly and find a secure and cheap merchant cash advance (MCA) provider in the U.S.
Fintech and Finances: Merchant Cash Advance
Finance has been changing exponentially in recent years, and fintech is a driver of its growth. In fact, fintech’s impact on how more and more people and businesses conduct their finances is already vivid.
What new developments occurred in 2020? Well, one of them has to do with the chaotic markets’ impact on the launch of an algorithm-driven investment strategy platform. Another platform, the top social investment network in the world, started working on making retail investors get more engaged with capital markets and fast-growing digital transformation.
Lots of Americans get rejected for traditional business financing because they have poor credit or no credit at all, and their number has significantly grown after COVID-19.
According to some, only the strongest will be able to continue under the new circumstances. This refers to those who will focus on competing for customers and making continuous investments into the quality and speed of their services, as well as into security, and advanced technologies.
Though it can be challenging to get access to the necessary working capital, it’s not impossible. True business funding experts such as reliable alternative online lenders are going above and beyond to help merchants navigate today’s financial challenges.
Thanks to a secure merchant cash advance from a reputable alternative online lender, you can address your financial needs and move forward with greater ease.
Fintech Growth
Fintech is changing both the banking sector and the sphere of international money transfers, business and personal loans, personal investment, and more. In 2020, the industry experienced exponential growth in investments around the globe. Overall, the industry registered 3472 investment deals, which made up $55.3 billion.
McKinsey predicts that IT and Fintech solutions will drag classic banking to its end in the years to come. Based on experts’ estimates, the number of users in the financial services sector worldwide increases by 15-20% on a yearly basis. Technologies, and neobanking in particular, are responsible for such growth.
So, the year 2020 witnessed a spike in investments, and the fintech industry is getting a bird’s eye view of it.
Author Bio: Michael Hollis is a Detroit native who has helped hundreds of business owners with their merchant cash advance solutions. He’s experimented with various occupations: computer programming, dog-training, accounting… But his favorite is the one he’s now doing — providing business funding for hard-working business owners across the country.
