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Learnexamplesfintech-series-a

Fintech Series A example

What investors expect from a Series A regulated fintech pitch.

Context

Stage
Series A
Business model
Fintech
Typical raise
$10M - $25M
Instrument
Priced Round

At Series A, fintech investors expect proven revenue, clear regulatory pathway, and a team that can navigate compliance. Unlike other sectors, fintech has an extra dimension: regulation can be your moat or your death.

Investor mindset

Fintech investors are evaluating a different risk profile than typical tech investors:

Regulatory clarity

What licenses do you have? What do you need? What is the timeline?

Unit economics at scale

Can you make money on each transaction after compliance costs?

Team regulatory experience

Has anyone on the team navigated financial regulation before?

Defensibility through compliance

Does regulation create a moat that protects you from competitors?

Key fintech metrics

Beyond standard SaaS metrics, fintech investors look for industry-specific indicators:

ARR (Annual Recurring Revenue)

Annualized recurring revenue from subscriptions or fees

Benchmark: $1M-$3M+ for Series A, growing 3x+ year-over-year

Net Revenue Retention

Revenue kept from existing customers including expansion

Benchmark: 110%+ shows customers spending more over time

Transaction Volume

Total value of transactions processed

Benchmark: Depends on model, but should show consistent growth

Take Rate

Your fee as percentage of transaction value

Benchmark: 0.5-3% for payments, higher for lending/insurance

CAC Payback

Months to recover customer acquisition cost

Benchmark: Under 12 months for Series A

Compliance Cost Ratio

Compliance spend as percentage of revenue

Benchmark: Should decrease as you scale, show the trend

Slide-by-slide requirements

Problem

Critical

Evidence needed: Quantified pain point with regulatory or structural market failure

Show the specific friction in financial services. Cost of current solutions, time wasted, money left on table.

Solution

Critical

Evidence needed: Working product with regulatory pathway clear

Explain how you solve the problem AND how you navigate compliance. Both matter equally.

Market

Critical

Evidence needed: Transaction volume, addressable accounts, regulatory TAM

Fintech markets are often constrained by regulation. Show you understand the actual addressable market.

Traction

Critical

Evidence needed: Revenue, transaction volume, customer count, regulatory milestones

Series A fintech needs real revenue. Show growth rate and path to profitability.

Team

Critical

The regulatory slide

Fintech Series A decks need a dedicated regulatory slide. This is not optional. Here is what to include:

Current status

  • Licenses held (state, federal, international)
  • Registrations (SEC, FinCEN, state regulators)
  • Partner bank relationships if applicable

Pending applications

  • What you have applied for and when
  • Expected timeline for approval
  • Contingency if delayed

Compliance infrastructure

  • Compliance team size and experience
  • Key compliance vendors/partners
  • Audit history and results

What works at Series A

Former regulator on team - Shows you understand the game
Revenue with clear unit economics - Prove the model works
Bank partnerships secured - Reduces regulatory risk
Compliance as competitive moat - Show how regulation protects you
Clear path to profitability - When do you break even?

Common mistakes

Hiding regulatory complexity

Investors will find out. Be upfront about challenges and your plan to address them.

Underestimating compliance costs

Compliance is expensive. Budget 15-25% of operating costs for early-stage fintech.

No regulatory expertise

If no one on the team has fintech regulatory experience, that is a red flag.

Ignoring state-by-state

Many fintech products require state-level licensing. Show you understand the patchwork.

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Related guides

Series A stage guideFintech pitch deck guideFinancials slide guideTeam slide guideInvestor perspective
Previous: Marketplace SeedNext: Deep Tech Seed
On this page
  • Context
  • Investor mindset
  • Key metrics
  • Slide requirements
  • Regulatory slide
  • What works
  • Common mistakes
  • Build with Pitchkit
  • Related guides

Evidence needed: Fintech experience, regulatory expertise, technical depth

Investors want to see someone who has navigated compliance before. Former regulators are gold.

Regulatory

Critical

Evidence needed: Current licenses, pending applications, compliance roadmap

Dedicated slide for regulatory status. This is non-negotiable for fintech Series A.

Competition

Important

Evidence needed: Incumbent banks, other fintechs, regulatory moats

Show how regulation creates barriers to entry that protect your position.

Business Model

Critical

Evidence needed: Revenue streams, take rate, unit economics per transaction

Fintech unit economics are scrutinized heavily. Show you can make money on each transaction.

Financials

Critical

Evidence needed: 18-month actuals, 3-year projections, path to profitability

Series A investors want to see real numbers. Show revenue growth, burn rate, and runway.

Ask

Critical

Evidence needed: Specific amount, use of funds including compliance costs, 18-month milestones

Typically $10M-$25M at Series A. Be explicit about regulatory costs in use of funds.