Nichol-Schwarz, Content Manager, FinTech
me? That’s right! Splice together finance,
technology, the body of a man and the head of a bull, and you get yourself a
when was this monstrosity created? Well, Minotaurs
have been knocking about since the days of our Hellenic cousins, the Ancient
Greeks. FinTechs are a little more recent, but with the creation of the credit
card in the 1950s, financial technology was born. Or FinTech, as the whizz kids
are calling it these days. In this case, however, a Minotaur is a venture
backed company that has raised more than $1 billion in funding. This sort of
Minotaur is less dangerous in a labyrinth. The first was Ant Financial, which
raised the qualifying billion in 2005.
there’s more to it than cutting edge innovation in financial technology hooking
up with the lovechild of Cretan Queen Pasiphae and a majestic bull? You got it. But, just to briefly move back to the powerful imagery
you’ve conjured up there, if that was all there was to it, you could say that
union has produced 4 offspring.
rare breed, then. Indeed. Aside from Ant Financial,
you can count Paytm, SoFi and Stripe in this motley crew.
fish. No, Minotaurs.
sorry. Minotaur’s a sharp name isn’t it. Damn
straight. Coined by Axios Editor-in-chief Nick Johnston, ‘Minotaur’ is the sort
of muscular, powerful handle the most popular kids in the investment playground
demand. You don’t want to get on the wrong side of the coolest kid in your
class, Chad, by calling him a ‘butterfly’. Chad much prefers the moniker ‘minotaur’.
Shrewd move, Nick.
sure is a mighty fine name. So, what does the emergence of the Minotaur say
about the world of investment? I’m glad you asked
told me I had to. The rise of the Minotaur (which
could easily be Dwayne ‘The Rock’ Johnson’s next big budget bicep flick)
signals a new form of aggressive company building. The trick is to pump an
obscene amount of money into rapid expansion, so the competition can’t touch
this aggressive company building have an equally combative name to match? You bet. Entrepreneurs Reid Hoffman and Chris Yeh have called it
see. Well, the term FinTech Minotaur must be on everyone’s lips? Well, err, not exactly. It’s on Axios’ lips, courtesy of Nick
Johnston, and mine, courtesy of Axios, and the readers of this, if for some
reason they’re reading aloud like a child.
probably not. No, probably not. Just Nick and me
then. But, hopefully the term will catch on; it would be nice if the FinTech investment
canon was full of more mythological creatures. Unicorns are already grazing the
grassy knolls of the equity capital gardens.
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