Everything-Finance Super-Apps
San@sanlee1313
−3.2%
since Oct 6
The idea
I think the next generation of consumer finance belongs to platforms that bundle trading, banking, cards, credit and crypto into one app, so every new product sells itself to customers already there. Most of these are still priced like single-product companies, and I want exposure as that changes over the next year or two. The basket spreads across US money super-apps, emerging-market super-apps, trading platforms expanding into everything-finance, and Asia broker apps, with no single name dominating and some cash held back.
What it owns
- US platforms are combining banking, cards, credit and investing into single apps where customers handle their entire financial lives without leaving. · Robinhood MarketsIt started in trading and is bolting on retirement accounts, credit cards, banking features and crypto to keep customers from leaving the app., SoFi TechnologiesIt combines lending, banking, investing and credit cards under one app with its own bank charter, competing to be the sole financial relationship., Block Inc.Its Cash App already offers payments, direct deposit, cards, stocks and bitcoin to tens of millions, turning casual users into banking customers., PayPal HoldingsIt is pivoting from a payments wallet into a full financial app with cards, credit, crypto and shopping features, the slowest mover in this category., Chime FinancialIt owns the primary checking relationship for millions of Americans and is layering credit and other products on top of that banking foundation.34%
- Weak incumbent banks in emerging markets create room for one app to become a customer's entire financial life, from payments to credit to investing. · Nu HoldingsIt serves over one hundred million people in Brazil, Mexico and Colombia with accounts, cards, credit, investing and insurance all in one app., MercadoLibreMercado Pago functions as a full-service bank within the marketplace app across Latin America, and the take tracks whether financial services revenue grows faster than commerce revenue as a sign the everything-app model is working., Kaspi.kzIt operates payments, shopping and finance in one app across Kazakhstan, demonstrating that the super-app model works and generates high margins at scale., Sea LimitedIts SeaMoney is converting gaming and shopping users in Southeast Asia into banking and credit customers, compounding off a captive user base., Inter & CoIt operates banking, investing, shopping and credit in one app in Brazil, executing the same everything playbook at a smaller scale than larger competitors.33%
- Brokers and crypto platforms are following the same playbook as traditional financial super-apps, adding banking, cards and yield products to their core trading business. · Coinbase GlobalIt is expanding from crypto trading into cards, payments on its own rails, staking and lending to function as a financial platform instead of just an exchange., Webull CorporationIt expands from trading into options, crypto, retirement accounts and more markets, offering an earlier-stage version of the broker-to-everything playbook., eToro GroupIt combines stocks, crypto and copy-trading in one app across dozens of countries, executing the brokerage side of the super-app expansion.11%
- Asian digital brokers are expanding from trading into wealth management, banking and payments for a large young customer base that can consolidate everything in one place. · Futu HoldingsIts apps let affluent customers in Hong Kong, Singapore and beyond trade, hold wealth products and increasingly bank, consolidating the entire relationship., UP Fintech HoldingIt follows the same path as larger Asian brokers by adding wealth and banking products to its trading platform across Singapore and beyond.8%
- Cash14%