FinTechs are reportedly boosting marketing in bigger cities to attract a wider customer base.
In the last three years, ad spending by these companies has climbed by more than 45% on average, Bloomberg News reported Sunday (Jan. 5).
The 45% figure, the report said, comes from Outfront Media, an advertising company whose clients include several high-profile FinTechs, including CashApp, Klarna, PayPal and its peer-to-peer arm Venmo.
This spending growth, Bloomberg said, comes as FinTechs grow in popularity among users, with these companies setting the stage for potential acquisitions or initial public offerings (IPOs).
“For forever, FinTech companies were very aligned with digital-native businesses,” said Jeff Titterton, chief…
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