Fintechs Ramp Up Advertising Spending to Appeal to Wider Market
- Fintech ad spend has grown average of more than 45%: Outfront
- Push comes as companies mature and IPO, M&A buzz builds
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Whether you’re riding the subway, walking to an airport gate, or waiting for the bus, there’s a certain kind of advertisement that has become increasingly difficult to miss: pitches for technology-based financial services, from credit cards to online payment platforms to digital banking.
Financial-technology companies are increasing their marketing efforts in metropolitan hubs such as New York, San Francisco and London as part of a concentrated effort to reach a wider range of consumers. Over the past three years, fintech ad spend has grown an average of more than 45% year-over-year, according to Outfront Media Inc., an advertising company whose clients include fintechs such as Mercury, Brex, Inter & Co., Klarna, CashApp, PayPal and Venmo.