With research by Carta indicating that 62% of fintech startups from 2018 closed down while raising venture capital, recognising and addressing these pitfalls early is imperative. Fintechs must face the harsh realities of revenue scaling if they are to avoid becoming just another statistic.

So how can fintechs ensure they scale their revenue sustainably?

The right CRO, the wrong stage: a costly misalignment  

Hiring a CRO at the right time can be a powerful catalyst for growth, but getting the timing wrong can substantially set the company back.

The right CRO is dependent on a fintech’s current stage of growth. An early stage startup requires a ‘builder’– someone who is not afraid to develop processes from the ground up. A scaleup on the other hand needs an ‘operator’. This is someone who is highly skilled at optimising existing sales processes and expanding their company into new markets. Aligning a CRO’s skill set to a company’s current stage of growth and future plans is crucial – and fintechs that deprioritise this alignment will surely fail

Some fintechs are also guilty of bringing a CRO in too early before product-market fit is established or before repeatable sales processes have been put in place. This sets the CRO up to fail as they would be forced to build a revenue strategy on unstable ground. On the other hand, there are fintechs that hold off on hiring a CRO, missing a crucial window for growth. As competitors race ahead, the gap widens – making it almost impossible to catch up.

Businesses typically take six months to realise they’ve made the wrong hiring decision, six months to navigate the exit process needed and six months to reset the strategy – this is 18 months of lost momentum. Hiring the wrong CRO or hiring a CRO at the incorrect time is not an easy fix and most companies will find themselves in an expensive position, which is a mistake fintechs often make when scaling revenue.

True growth comes from understanding – not just expanding

Expanding into new geographies presents exciting opportunities for all businesses –  opening doors to new customers, breaking into new markets and revenue streams and strengthening their competitive edge. However expanding into new geographies brings its own range of challenges. These challenges could be anything from regulatory roadblocks to a range of different customer expectations. Most importantly? You cannot assume what worked in one market will work in another.

Many organisation fall into the trap of accelerating their expansion efforts without adequate market testing, cultural sensitivity, or genuine understanding of regional demand patterns. Each region comes with unique customer behaviours, requirements, and competitive environments. These regional differences invariably create unique challenges that companies face when expanding into new markets, including regulatory compliance and Know Your Customer (KYC) protocols.

Many businesses make the mistake of initiating global expansion without comprehensive market analysis, research or a realistic strategy. Those that fail to put in the preparation will find themselves on a rocky path when expanding. For successful expansion, businesses must develop customised approaches and invest time in thoroughly understanding their target markets otherwise they will waste precious time and resources. These businesses also need to consider whether they have the capabilities to do this in-house or if it's best to partner with an expert.

The cost of inaccurate data

Another common pitfall is not prioritising the creation of a disciplined deal qualification process to ensure the sales team are aligned with wider business goals. Maintaining the right customers which generate long-term value is how revenue will grow. This can only be achieved if businesses take the time to understand who their ideal customers are and most importantly, what they want. Without this discipline, teams waste precious time on deals that could never close or bring in customers who are a poor fit for the business, leading to bigger problems down the line. The best teams know that saying no to the wrong customer is just as crucial as saying yes to the right one. Not all revenue is good revenue and going after the wrong customers and deals will drain resources and costs.

Scaling fintech revenue requires more than ambition – it demands precise execution across timing, market understanding, and operational excellence. Missteps in these areas frequently derail promising businesses, leaving them struggling or worse, bankrupt. But fintechs equipped with careful planning, disciplined RevOps, and thoughtful leadership hiring can navigate these challenges confidently. Fintechs that master these elements position themselves for sustainable and successful growth.

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