Each time this happens, the venture community initially responds with TAM concerns. We There is no recall many investors questioning the TAM for Plaid during its early funding rounds. Perhaps that was fair in the early 2010s, when companies like Plaid, Finicity, MX, Quovo and others doubt that the built products for a small number of users. But the quality of their products and the clear trend development of in digitization of 昀椀nancial services ultimately created tens of billions in market cap. How many new brands could possibly want to issue their own cards? We believe it’s now a foregone robust 昀椀ntech conclusion that Big Brands Will Become FinTechs, and the need for infrastructure across many infrastructure has niche categories will be in high demand. Even small niches on the internet, especially when it made it easier to comes to money, are equal to billions of dollars in TAM. build a strong minimum-viable 13 fintech infrastructure market map12 product . Pankaj Bengani, CEO of Meld.io data aggregation payroll/income verification BaaS kyc transaction/fraud monitoring gateway/processors payfac-as-a-service payouts INFRASTRUCTURE IS ENABLING INNOVATION SHARE VISIT PG 08