Tearsheet Podcast: Fintech Investor Podcast

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Today I'm excited to introduce you to 4dFI Capital Partners — or as we call it, 4dFI — a new initiative bringing together the worlds of traditional finance and innovative fintech.

In this episode, we're diving into three key themes reshaping global financial services:

Hidden Innovations in Emerging Markets

As Russell Weiss points out, "There's some incredible innovations happening in emerging markets, and oftentimes investors and executives in the US and Europe are sort of missing it. They're not hearing those stories. They're not getting access to that technology." We'll explore how companies like Nubank are just the beginning of a wave of groundbreaking financial solutions coming from regions outside traditional financial centers.

From Fintech to Impact Investment

In regions where traditional credit infrastructure is lacking, services like earned wage access aren't just convenient—they're transformative. Josh Liggett explains how these solutions are "where a FinTech turns from a FinTech company to also an impact investment," creating both financial returns and meaningful change in consumers' lives.

Building a Value-Add Investment Community

Beyond just providing capital, Fortify aims to create a network of experienced professionals who can offer expertise, connections, and insights to emerging market fintechs. This collaborative approach benefits everyone involved—investors gain exposure to new models, startups receive valuable guidance, and ultimately, consumers get better financial products.

I'm joined today by my partners Russell Weiss and Josh Liggett, who bring complementary skills in data science, VC deal-making, and fintech expertise to this exciting venture. Whether you're a financial industry veteran looking for new horizons or simply curious about where global fintech is heading, today's conversation offers valuable insights into the future of finance beyond traditional markets.

Let's dive in.

Beyond Borders: The 4dFI fintech investment series, Part 1

Blockchain technology continues to bridge the gap between traditional finance and the digital asset ecosystem. Today, we're witnessing a fascinating convergence where decentralized finance protocols are being integrated into user-friendly platforms, making sophisticated financial tools accessible to everyday users.

One of the most significant developments in this space is the ability to leverage crypto assets without selling them—unlocking liquidity while maintaining exposure to potential appreciation. Coinbase has recently launched a groundbreaking product that allows customers to borrow USDC against their Bitcoin holdings in under a minute, all powered by onchain lending protocols.

I'm delighted to welcome Max Branzburg, Vice President of Product at Coinbase, to discuss this innovation. As a key architect of Coinbase's product strategy, Max has been instrumental in developing solutions that make crypto utility more tangible for millions of users. Today, we'll explore how Bitcoin-backed loans represent a pivotal step in Coinbase's vision for onchain financial services, the technical infrastructure making this possible, and what this means for the future of personal finance.

The financial system is moving on-chain: How Coinbase is bridging traditional banking and crypto

In late January, Upbound Group completed its acquisition of Brigit, a leading financial health technology company. This deal brings together Upbound’s established brands like Rent-A-Center and Acima with Brigit’s digital platform that offers earned wage access, credit building products, and financial wellness tools. The combined company now serves approximately four million active customers, including Brigit’s impressive base of over one million paying subscribers.

I’m thrilled to welcome Zuben Mathews, co-founder of Brigit, to our podcast today. Zuben continues to lead the Brigit team as they now operate as a business segment within Upbound Group, alongside his co-founder Hamel Kothari.

In our conversation today, we’ll explore the strategic vision behind this acquisition, how Brigit’s technology will enhance Upbound’s existing services, and what this means for millions of Americans who have been traditionally underserved by mainstream financial institutions. We’ll also discuss how Brigit’s proprietary cash flow underwriting technology and machine learning capabilities might change the landscape for accessible financial products.

From startup to acquisition: Zuben Mathews on Brigit's social impact journey

Joe Heck, CEO of Zip, joins me on the Tearsheet Podcast to discuss the evolution of alternative payment solutions in the US. Zip is a leading Buy Now, Pay Later (BNPL) company. Joe shares lessons from his 20 years of experience in consumer lending and fintech payment solutions. Heck brings insights from his previous leadership roles at Happy Money and TrueStage.

Heck’s background plays a role in his approach to financial services. Growing up in Flint, Michigan, he understands the challenges of paycheck-to-paycheck living. “There’s a consumer base largely ignored by traditional financial systems,” Heck explains. “FICO doesn’t serve them well, but they have a great ability to pay.”

Zip focuses on providing financial flexibility to these consumers. It offers structured repayment plans that don’t push them into revolving debt. According to Heck, “We win when the consumer wins. If they can’t pay us back, our model doesn’t work either.”

The Big Ideas

BNPL’s Growth Potential in the US – With only 2% of payments currently in BNPL, there is significant room for expansion compared to markets like Europe and Australia.

Financial Inclusion for Underserved Consumers – Zip is focusing on consumers who don’t fit traditional credit models but have strong repayment potential. “We provide access when and where they need it,” says Heck.

Strategic Partnerships Drive Accessibility – Integrations with Stripe and retailers like GameStop are making BNPL more available to consumers.

A More Transparent Alternative to Credit Cards – Unlike credit cards that encourage revolving debt, BNPL provides structured, predictable payments. “We’re not built in a way that traps consumers in debt,” Heck emphasizes.

The Role of Cash Flow Management in BNPL’s Future – Zip is investing in tools that help consumers manage unpredictable income streams, ensuring more repayment flexibility.

Zip CEO Joe Heck: Expanding financial inclusion through Buy Now, Pay Later innovation

Artificial intelligence is rapidly transforming the financial landscape, creating new opportunities for innovation while reshaping consumer expectations around speed, personalization, and security. As financial institutions and businesses race to integrate AI capabilities, we're witnessing a fundamental shift in how payments are processed, how fraud is detected, and how financial services are delivered.

Today, I'm delighted to welcome Davi Strazza, President of North America at Adyen, a global financial technology platform that's at the forefront of this AI evolution. Davi leads Adyen's North American operations, where the company is leveraging artificial intelligence as a strategic growth driver through initiatives like their recently launched Uplift platform.

In our conversation today, we'll explore how Adyen is implementing AI solutions to enable hyper-personalization, enhance fraud detection, and automate complex financial processes. Davi will also share his insights on the state of real-time payments in the US and what companies need to do to make instant payments a more fundamental part of our commerce and financial system.

"Taking the hardest path in payments": How Adyen's AI platform boosts conversion and reduces fraud

Investment in data is the hallmark of successful Gen AI implementations, according to Citizens’ Chief Data and Analytics Officer, Krish Swamy. 

Giving us a system wide view of how Citizens is leveraging Gen AI, Swamy joins the podcast to talk about harnessing the power of data to drive decision-making, enhance customer experiences, and navigate the complexities of digital transformation in the banking sector. 

Our conversation delves into the challenges and opportunities of building a data-driven culture within a traditional banking environment, and how Citizens is positioning itself at the forefront of financial innovation through strategic analytics initiatives.

Swamy, who also heads the firm’s Generative AI Council, shares his vision for the future of data in banking and the tangible ways Citizens is turning data insights into meaningful actions that benefit both the institution and its customers.


How Citizens Bank is building GenAI with a five-year vision, not just quick fixes

Tearsheet is excited to launch 4dFI Capital Partners, an exclusive group of out-of-the-box builders and investors building a community to invest in the next wave of fintech startups around the world. If you are an accredited investor and want to learn more, sign up here

Across Latin America, we’re witnessing a massive shift as regions traditionally dominated by cash transactions begin embracing digital financial tools. This transition represents more than just technological adoption—it’s creating new economic opportunities, enhancing financial inclusion, and building resilience against growing cybersecurity threats.

The numbers tell a compelling story: a $448.4 billion digital payment opportunity exists across Latin America, the Caribbean, and the U.S. With nearly 12 million small retailers processing $362 billion in B2C sales — 43% still in cash —a nd 90% of B2B transactions between small retailers and suppliers handled through traditional methods, we’re looking at a financial transformation that’s just beginning.

Today, I’m joined by someone at the forefront of this transition. Walter Pimenta serves as Executive Vice President of Commercial and New Payment Flows for Mastercard Latin America, where he’s leading initiatives to expand SME acceptance solutions, scale enablement through strategic partnerships, and strengthen cross-border payment capabilities.

Walter’s team is also tackling another critical trend: the growing cybersecurity challenges facing SMEs, with recent research showing 46% of small businesses have experienced cyber-attacks, resulting in bankruptcy for nearly 1 in 5 affected companies.

Inside Mastercard's push to move LATAM's small retailers beyond cash

The financial services industry is undergoing deep technological change. API-first architectures are creating new possibilities for integration. Digital platforms are democratizing access to investing. Artificial intelligence is personalizing wealth management. Digital-first brokerages are redefining what's possible. Global investing barriers are falling. Traditional firms are navigating complex digital transformations. And infrastructure companies are scaling to meet growing demands.

To help us understand these critical trends, we're joined by Harry Temkin, Chief Digital Officer at DriveWealth. DriveWealth is at the forefront of embedded investing technology, powering fractional trading and digital investment experiences for partners across the globe. As CDO, Harry leads the company's technology strategy and digital innovation initiatives, bringing decades of experience in financial technology.

“Embedded investing isn't a feature — it’s a platform”: DriveWealth’s Harry Temkin on the future of investing

Welcome to the Tearsheet Podcast, where we explore financial services together with an eye on technology, innovation, emerging models, and changing expectations. I'm Tearsheet's editor in chief, Zack Miller.

As digital assets mature beyond speculation into practical financial tools, forward-thinking institutions are evaluating how programmable money fits into their product strategies. For traditional banks, it's an opportunity to modernize settlement systems and explore new revenue streams. For fintechs, it's about embedding digital asset capabilities without the regulatory and technical overhead.

Today, I'm joined by Ben Milne, whose journey from founding payments innovator Dwolla to now leading Brale offers interesting insights into the evolution of financial infrastructure. At Dwolla, Ben built an API-first payments platform that helped modernize ACH transfers. Now with Brale, he's creating the infrastructure layer for compliant stablecoin issuance across multiple blockchains.

What's particularly notable about Ben's transition is how it reflects broader shifts in the financial services landscape—from renovating legacy rails to building entirely new ones. In our conversation, we'll unpack how this experience shapes Brale's approach to working with both incumbents and challengers, the strategic considerations for institutions exploring stablecoins, and what product and strategy executives should be planning for in this rapidly evolving space.

From ACH to stablecoins: Ben Milne's infrastructure evolution

While attention often focuses on developed markets, the most exciting fintech innovations are emerging where mobile technology, young digital-native populations, and gaps in traditional banking converge. These regions aren’t just adopting Western models – they’re creating entirely new paradigms that may eventually reshape global finance.

Today I’m joined by Nadia Costanzo, Director of Banking for the Middle East, Africa, and Latin America at Wise. Nadia drives Wise’s expansion across these regions by building banking relationships, securing licenses, and navigating complex regulatory frameworks.

Her background is uniquely valuable – before Wise, she worked with Kiva in Nairobi facilitating microfinance across Africa, contributed to the World Bank’s Universal Financial Access agenda, and worked directly with microfinance institutions in Paraguay.

Today, we’ll explore how fintech evolves differently across emerging markets, examine key challenges, and discuss surprising innovations where traditional banking is limited. We’ll also consider what these developments mean for established financial institutions looking to engage with these dynamic markets.

How Wise captured 25% of Brazil's cross-border market

We're continuing on our series of interviewing top corporate venture capitalists in the finance industry to get their perspectives on where things are headed by looking at where they're investing. 

Today's guest is Doug Russell, managing director of MassMutual Ventures. We talk about his experience as an operator before moving into a corporate investor role and how that influences his investment practice. Of course, we talk about MassMutual Ventures' portfolio and drill down into the investments Doug has made.

You can get this episode of the podcast, as well as 160 previous episodes in our archive, at our website, www.tearsheet.co If you get value out of these episodes, please take a minute to rate us on iTunes. Doing so, helps other people find us. We're also available on SoundCloud.

Also, if you're not signed up for our newsletter, subscribe now. 10,000 industry professionals read our Tearsheet newsletter every week to explore the impact technology is having on the financial services industry. www.tearsheet.co/subscribe

Here's my conversation with Doug.

MassMutual Ventures' Doug Russell: 'Our objective is to generate insights into our ecosystem'

After 18 plus years in corporate venture capital, credit bureau Experian brought in Alex Marquez last year to launch their own investment vehicle. While the firm has been pretty acquisitive throughout its history, this was a new initiative for the firm as it invests in innovation. 

Alex is our guest today on the Tearsheet podcast — we discuss Experian's investment mandate and how he measures the success of his corporate venture program. We also talk about how the investment side integrates into the firm's larger strategy.

You can get this episode of the podcast, as well as 160 previous episodes in our archive, at our website, www.tearsheet.co If you get value out of these episodes, please take a minute to rate us on Apple Podcasts. Doing so, helps other people find us. We're also available on SoundCloud.

Also, if you're not signed up for our newsletter, subscribe now. 10,000 industry professionals read our Tearsheet newsletter every week to explore the impact technology is having on the financial services industry. www.tearsheet.co/subscribe

Experian Ventures' Alex Marquez: 'Venture is our listening post to all the innovation going on'

Welcome to the Tearsheet Podcast. I'm Zack Miller.

As Bitcoin, cryptocurrencies, and initial coin offerings push to new heights, top financial institutions and banks are rushing to figure out just what their future role will be around the blockchain.

Join Tearsheet this September to explore these advances in distributed ledger technology and to hear firsthand from institutions pushing on the edge of finance. To see the agenda, speakers and to get more information about purchasing a ticket or sponsoring the event, click on the events tab on our website, Tearsheet.co.

As part of an ongoing series, we talk to professional investors in the fintech space to get a feel for what's on their radar screen. I enjoy these discussions because, if these investors are right in their analysis, they give you a little taste of what's to come in the near future in financial technology.

Today's guest is Chris Sugden, Managing Partner at Edison Partners, a Princeton NJ growth equity firm that invests in companies generating revenues of $5 to $20 million. After 31 years in the business, Edison is on its 8th fund. Chris leads the firm's activity in fintech and was previously an entrepreneur in the billing and payment space.  

Chris joins us today on the Tearsheet podcast to discuss the role growth equity plays in the fintech ecosystem. We get the low down on his firm's portfolio which includes investments like early forex leader Gain Capital, vertical payments player PHX, and personal finance manager MoneyLion. Lastly, we talk about where Chris and Edison are looking to make fintech investments in the future.

You can get this episode of the podcast, as well as 160 previous episodes in our archive, at our website, www.Tearsheet.co. If you get value out of these episodes, please take a minute to rate us on Apple Podcasts. Doing so, helps other people find us. We're also available on SoundCloud.

Also, if you're not signed up for our newsletter, subscribe now. 10,000 industry professionals read our Tearsheet newsletter every week to explore the impact technology is having on the financial services industry. http://www.tearsheet.co/subscribe

Edison Partners' Chris Sugden: 'With growth equity, dogs are already eating the dog food'

As one of the largest financial institutions in the world, Citi takes its innovation efforts seriously. Combining internal and external models of collaboration with a disciplined corporate venture arm, the financial services giant ensures that it has a lot of coals in the innovation fire. 

Leading those efforts is Vanessa Colella. Vanessa runs Citi Ventures and is the Chief Innovation Officer at Citi. In my talk with Vanessa, we explore how Citi combines internal and external innovation and what role venture investing plays in the overall mix. For her, all this talk and activity around innovation addresses something very simple: how to get the best results for Citi's clients.

Vanessa Colella is our guest today on the Tearsheet Podcast.

You can get this episode of the podcast, as well as nearly 180 previous episodes in our archive, at our website, www.tearsheet.co 

If you get value out of these episodes, please take a minute to rate us on Apple Podcasts. Doing so, helps other people find us. We're also available on SoundCloud.

Also, if you're not signed up for our newsletter, subscribe now. 10,000 industry professionals read our Tearsheet newsletter every week to explore the impact technology is having on the financial services industry.  www.tearsheet.co/subscribe

Here's my conversation with Vanssa .

Citi Ventures' Vanessa Colella: 'No one runs innovation. It's all about unleashing it.

Ruth Foxe Blader cut her teeth on digital innovation at PepsiCo and Allianz. It was inside one of the world's largest insurance firms that she grew to appreciate just how much opportunity there is for innovation in financial services.

 Now, she's a director at fintech VC, Anthemis, where she focuses on corporate venture investment, bringing her own perspective to venture investing.

In our talk, Ruth describes how the definition of fintech has evolved and where she thinks the sector is headed in the future with a particular emphasis on insurtech. We talk about trends and where Anthemis is placing its bets. Lastly, we analyze some of the firm's most exciting portfolio companies.

My guest today on the Tearsheet Podcast is Ruth Foxe Blader.

Before we jump into the interview — If you get value out of this podcast, we'd appreciate a review wherever you get your podcasts. We do this for you and reviews are the fuel that make this podcast go and help others to discover it.

You can access this episode and our archives of 200+ podcast episodes at www.tearsheet.co

Here's my interview with Ruth.

Anthemis' Ruth Foxe Blader: 'Like Google, insurance firms are data companies'

Welcome to the Tearsheet Podcast. I'm Zack Miller.

Many of our listeners might be familiar with Accion, the global non profit that uses digital technology to create a more financially inclusive world. Accion was founded in the 60s and has roots in microfinance. 

Fewer people know that Accion has a venture arm. Accion Venture Lab invests capital and provides support to innovative fintech startups with a mandate* *to improve access, quality, and affordability of financial services for the underserved at scale. 

Vikas Raj is a managing director at Accion Venture Lab and sits on the board of companies like Konfio, Self Lender, StreetShares, and Tienda Pago. We talk about his approach to seed investing with a social impact and certain trends that cut through Accion Venture Lab's portfolio.

Vikas also hosts a podcast at Venture Lab entitled VentureKast (https://soundcloud.com/accioninternational) about the cool financial inclusion startups around the world and the entrepreneurs who build and grow them. Check it out.

Vikas Raj is my guest on the Tearsheet Podcast.

*****************
Before we hop into the interview, I'm excited to tell you about a new award program we're launching.

Tearsheet's digitally-native awards programs are intended to be a better type of award program — no posh dinners or long speeches. We're serious about identifying the winners in our industry and making our celebration of them global, digital, and open.

For March, we're looking for the Best and Most Creative Bank/Fintech Partnerships. We want to hear about collaborations between incumbents and tech players that go beyond just an integration and a press release. 

If your firm has a special story to tell about partnerships, we want to hear about it. To get more info and to submit your entry, go to the Tearsheet homepage and click on the Awards tab. Or go here (https://pro.evalato.com/303/)

How Accion Venture Lab invests in the next generation of inclusive financial services firms

Tearsheet is news, opinion, and analysis on the business of finance.

Candid conversations with senior executives, fintech entrepreneurs, investors, industry experts -- all weigh in on the trends impacting the industry and the disruptive impact technology is having on the business.

Where social media, technology and finance intersect.

How Accion Venture Lab invests in the next generation of inclusive financial services firms

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