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Industry Landscape
The FinTech industry for small businesses is rapidly evolving, driven by increasing demand for integrated, user-friendly financial management tools. Automation, AI, and mobile accessibility are key trends, simplifying banking, accounting, and tax compliance for solopreneurs and micro-businesses. Competition is intense, but the market continues to expand due to the growing gig economy and new business formations.
Total Assets Under Management (AUM)
Number of Small Businesses in United States
~33.3 million
(2.5% CAGR)
- Number of new business applications continues to grow.
- Driven by solopreneurs and freelancers.
- Small businesses form the backbone of the economy.
Total Addressable Market
100 billion USD
Market Growth Stage
Pace of Market Growth
Emerging Technologies
AI-powered Financial Automation
Artificial intelligence will further automate expense categorization, identify tax deductions, and provide predictive cash flow insights for small businesses, reducing manual effort and improving accuracy.
Embedded Finance
Integrating financial services directly into non-financial platforms (e.g., e-commerce sites, project management tools) will make banking and payment services seamless and contextually relevant for SMBs.
Blockchain for Secure Transactions & Identity
Distributed ledger technology could enhance the security and transparency of business transactions, simplify identity verification for onboarding, and potentially enable new forms of payment and lending for SMBs.
Impactful Policy Frameworks
Consumer Financial Protection Bureau (CFPB) Section 1033 (2023)
The CFPB is finalizing rules under Section 1033 of the Dodd-Frank Act to give consumers, including small businesses, greater control over their financial data held by financial institutions.
This policy will enable Found.com users to more easily and securely share their financial data with the platform, enhancing data portability and potentially improving integration capabilities.
Secure Act 2.0 (2022)
The SECURE 2.0 Act of 2022 aims to enhance retirement savings for Americans, including provisions that encourage small businesses to offer retirement plans.
While primarily focused on retirement, this could lead to an increased need for integrated payroll and HR financial tools, presenting an opportunity for Found.com to expand its service offerings to small businesses.
Beneficial Ownership Information (BOI) Reporting Rule (2024)
Effective January 1, 2024, most small businesses must report beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN) as part of the Corporate Transparency Act.
This rule creates a new compliance burden for Found.com's target audience, potentially increasing their need for integrated platforms that can help manage and store necessary business information for reporting.
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