To better understand the industry, we started mapping it. First we had lists. We soon realized that having a single dimensional list did not do justice. Our portfolio company number26.de for example does personal finance management within its retail bank account. And offers the functionality to send money easily from peer to peer. Hence it competes directly with peer to peer wallets. And with other personal finance management startups. Lists were difficult to maintain.
I then started to build mind maps. However, the end nodes of mind maps also only arch back to one category. So we had to duplicate startups and hook them to category nodes. Not very sexy.
Finally, I started to develop a view that I believe does justice to this multidimensional industry: a self sorting graph. Startups are hooked to the main categories they operate in. This allows to understand one category within FinTech, but also which startup competes with who.
Feel free to play around with it – please add startups that we missed – and give feedback to “schmincke at earlybird dot com”.
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