Fintechs among the fastest, but rising rates to dampen the party
The era of fast growth at all costs is over, with rising rates drying up the abundant liquidity that helped spur phase one of these companies’ successes.
Soaring interest rates, cost-of-living pressures and the rising spectre of bad debts may have dampened parts of the financial services sector, but the negative headwinds have not been enough to stop a few companies from expanding rapidly.
So far, appetite for credit has held strong, but many fintechs are now working out how they can keep growing in an environment where stricter lending criteria are making it harder to extend credit to borrowers.
Ayesha de KretserSenior reporterAyesha de Kretser is a senior reporter with The Australian Financial Review covering the aviation and tourism sectors. She has previously reported on banking, mining and commodity markets. Connect with Ayesha on Twitter. Email Ayesha at ayesha.dekretser@afr.com.au
