Fintech shifts from renting banks to buying them, with one neobank paying $590MM
LexSokolin · x · 2026-10-14
Lex Sokolin outlines three waves in fintech: Wave 1, selling accounts issued by someone else's bank; Wave 2, growing until you can buy that bank — one neobank is paying $590MM; Wave 3, payment startups applying for bank licences early. The playbook: win distribution first, then buy the factory.
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