Foundation Capital's Zach Noorani on How Fintech Is Reinventing Finance’s Infrastructure

Minnie Ingersoll
Minnie Ingersoll is a partner at TenOneTen and host of the LA Venture podcast. Prior to TenOneTen, Minnie was the COO and co-founder of $100M+, an online marketplace for used cars. Minnie started her career as an early product manager at Google. Minnie studied Computer Science at Stanford and has an MBA from HBS. She recently moved back to L.A. after 20+ years in the Bay Area and is excited to be a part of the growing tech ecosystem of Southern California. In her space time, Minnie surfs baby waves and raises baby people.
Zach Noorani
Photo courtesy of Foundation Capital

Foundation Capital's Zach Noorani joins this episode of the LA Venture podcast to talk about how traditional banking will change in the future and why he's excited for the rise of neobanks.

As a partner at Foundation, Noorani leads the firm's early-stage investments in financial technology (fintech).

"And 12, 15 years ago, telling someone at a big fund that I was a fintech investor, they get sort of a blank stare, you know, it was just kind of a niche… Fast forward to today: It's wild to see the growth in all dimensions," said Noorani.

Noorani landed a corporate strategy role at Capital One right out of college.

"From there, it was a lot of exposure to kind of the vanguard of what's happening in the industry from an innovation perspective," he said.

He started working with early-stage fintech companies as they experimented with innovations like the prepaid debit market–early versions of "buy now, pay later" approach–a model, he said, that has become popular as an alternative payment option.

Noorani is also watching the rise of neobanks closely. To a young person, he said, going to a physical bank is completely alien. Services like Venmo and Cash App have become popular for features that include early paycheck cashing and avoiding bank fees.

Noorani said the wallet may be the next analog casualty as companies like Apple make strides in digitizing how we pay for things and what we need to carry.

"Do we slowly get rid of our checkbooks? Do we slowly get rid of our wallets?” he asked, “Yeah, we totally do."

Noorani doesn’t think traditional banks will go away completely. Branch offices will still be important for those buying a house or small business owners.

dot.LA Engagement Intern Joshua Letona contributed to this post.

Hear the full episode by clicking on the playhead above, and listen to LA Venture on Apple Podcasts, Stitcher, Spotify or wherever you get your podcasts.

Subscribe to our newsletter to catch every headline.


Genies Wants To Help Creators Build ‘Avatar Ecosystems’

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Genies Wants To Help Creators Build ‘Avatar Ecosystems’

When avatar startup Genies raised $150 million in April, the company released an unusual message to the public: “Farewell.”

The Marina del Rey-based unicorn, which makes cartoon-like avatars for celebrities and aims to “build an avatar for every single person on Earth,” didn’t go under. Rather, Genies announced it would stay quiet for a while to focus on building avatar-creation products.

Genies representatives told dot.LA that the firm is now seeking more creators to try its creation tools for 3D avatars, digital fashion items and virtual experiences. On Thursday, the startup launched a three-week program called DIY Collective, which will mentor and financially support up-and-coming creatives.

Read moreShow less

Here's What To Expect At LA Tech Week

Christian Hetrick

Christian Hetrick is dot.LA's Entertainment Tech Reporter. He was formerly a business reporter for the Philadelphia Inquirer and reported on New Jersey politics for the Observer and the Press of Atlantic City.

Here's What To Expect At LA Tech Week

LA Tech Week—a weeklong showcase of the region’s growing startup ecosystem—is coming this August.

The seven-day series of events, from Aug. 15 through Aug. 21, is a chance for the Los Angeles startup community to network, share insights and pitch themselves to investors. It comes a year after hundreds of people gathered for a similar event that allowed the L.A. tech community—often in the shadow of Silicon Valley—to flex its muscles.

From fireside chats with prominent founders to a panel on aerospace, here are some highlights from the roughly 30 events happening during LA Tech Week, including one hosted by dot.LA.

Read moreShow less

Body Complete Rx Founder Samia Gore On How She Turned Her Fitness Journey Into a Multi-Million Dollar Company

Yasmin Nouri

Yasmin is the host of the "Behind Her Empire" podcast, focused on highlighting self-made women leaders and entrepreneurs and how they tackle their career, money, family and life.

Each episode covers their unique hero's journey and what it really takes to build an empire with key lessons learned along the way. The goal of the series is to empower you to see what's possible & inspire you to create financial freedom in your own life.

Body Complete Rx Founder Samia Gore
Courtesy of Behind Her Empire, Samia Gore

Samia Gore was a mother of four when she decided to take a shot at starting her own business.

On this episode of the Behind Her Empire podcast, the Body Complete Rx founder discusses how her personal journey with health and fitness became the catalyst for a booming business.

Read moreShow less