Tiffine Wang is an investment partner at MS&AD Ventures, an early-stage venture fund backed by Mitsui Sumitomo and Aioi Nissay Dowa.

In my decade-long career working in venture capital, innovation and tech scouting, I’ve come to understand a fundamental truth. When it comes to investing in and building successful fintech startups, the driving force behind them is the team.

Throughout my career, spanning across several companies and venture firms, I’ve been involved in investing in more than 100 companies and partnering with many of them to develop innovative global solutions. Time and time again, the key factor distinguishing those that succeed from those that don’t is the team. 

It’s not just the ability to hire and retain top talent, but to navigate challenging moments, fundraising, customer crises, product pivots and everyday conflicts. I’ve observed firsthand that the teams that excel are not just those with the best technology, but those that bring together a unique blend of vision, resilience and expertise.

In fintech, where regulations and market conditions can shift overnight, the strength of the team makes all the difference. Great teams can perform at 10x, even 100x over the lifetime of a company. This multiplier effect is what sets apart ventures that will genuinely reshape industries from those that will merely leave a mark. Many startups have promising products, but it’s the extraordinary teams that change the world.

A strong team alone, however, does not guarantee success. I have witnessed many instances where teams that are impressive on paper and seemingly well-equipped, have still led their companies to failure. The potential of a team can be misleading; individual talent does not always translate into collective effectiveness. Even the most skilled professionals can struggle if their collaboration falters or if they fail to adapt to the shifting demands.

A truly successful team requires more than just a roster of high achievers; it needs a cohesive vision, seamless communication and the resilience to overcome challenges. Internal challenges, strategic missteps and external pressures can unravel even the most promising startups. In the end, while a strong team is essential, it must be paired with strategic insight, adaptability and an unyielding commitment to navigating the complexities of the fintech world.

Beyond the team, VCs consider several other factors. The market opportunity is crucial—investors look for companies targeting massive, untapped markets with clear potential for disruption. Technology is another key pillar. Technology must be not only innovative but also scalable and secure, especially in an industry where trust and compliance are paramount. Teams also have to be able to close sales, because if no one wants the product, the company dies. This is why the team’s ability to attract and retain key personnel is essential.

Risk and regulation also play a significant role. Fintech operates in one of the most heavily regulated sectors globally, and navigating this landscape requires more than just a good product. Founders must demonstrate a deep understanding of regulatory frameworks and a robust strategy for managing risk.The companies that excel in balancing these factors are the ones that attract investors. 

Ultimately, investing in fintech is not just about backing a promising idea or technology; it’s about investing in the right teams that can navigate the complexities of the market and drive meaningful change. The most successful startups are those that combine exceptional talent with strategic insight, positioning themselves to not only make an impact but to redefine the industry. As we look to the future, it is these standout teams that will lead the way in fintech transformation and shape the industry’s next chapter.