Uber recently said they are de-prioritizing their finance related projects to better weather the current crisis; this comes only a few months after the fanfare surrounding their announcement of Uber Money; Embedded Finance is one of the biggest trends in fintech today and the news that Uber is pulling back should not impact the growth of the market at all; a new report by Lightyear Capital says that embedded finance will grow to nearly $230bn (in revenue) by 2025, up from $22.5bn this year; Lightyear breaks down Embedded Finance companies into a few key categories: providers like Raisin and Affirm; enablers like Plaid and Marqeta; containers like Amazon and Shopify; According to Mark Vassallo, Managing Partner at Lightyear Capital, “We believe businesses that pursue embedded strategies can deliver more tailored solutions, manage risk better, and increase customer retention.”; Ron Shevlin of Cornerstone Advisors points out that two recent announcements counter the loss of Uber, Shopify announces Affirm will power their buy now pay later product and QuickBooks launches a bank account. Forbes.
