Finding the team you need for a new fintech startup is more straightforward than you might think. While you need to put some effort into the process, you also need to be wise. Gathering the right talent isn’t always something that happens overnight (unless you have a core team in place already).  So, what do you need to do to find the team for your new fintech startup? 

The first step is to define your core needs. You want to figure out who you require in the business to make it function.  Often, you can pick and choose people regarded in their field from existing categories, like writers or software developers. Once you have these individuals, you will often find that they are quite interchangeable. Another approach is to look for misfits or people who haven’t quite slipped into a conventional career. These individuals are another group you can look at, and you can often get them for less money. 

When starting a fintech company, you’ll also need industry-specific expertise, or people who really understand how businesses in the sector operate.  This step can be the most challenging, which is why so many founders use a financial services headhunter. The idea is to find people who are already embedded in the industry and know other people in it, allowing you to make connections. The CEO is usually the visionary, or the person steering the ship. Then you usually have a CTO or “tech lead,” which is someone who understands how all the nuts and bolts that are going to make the business work function. You can also get additional people, but if it is a startup, you’ll want to keep this lean. As long as you have a core management team that understands the vision and the overall operation, slotting workers with common skills into roles is usually relatively straightforward. 

Of course, it also helps to use industry and network events. These are opportunities for you to experience unique content and also meet people who might be interested in what you want to do.  Fortunately, fintech is a hot topic, so there are numerous events in the space already up and running and underway, especially in global cities. Usually, it is just a matter of finding one of these and attending.m You should also look for co-founders and financial advisors with similar experience to what you want. These can often be great partners or consultants and may sometimes agree to join you if your pitch is sufficiently compelling, as long as you provide equity. 

Speaking of which, if you’re operating on a shoestring and can’t afford to pay high wages, offering equity in your business can be another way to get people onboard. Using this tool can enable you to gather the talent you need quickly and simply make it work. The more senior the position and the higher the level of experience, the more equity you require.