We’ve seen celebs wield their starpower to help their startups of choice succeed, and with experts’ positive outlook on funding in 2024, we’re likely to see even more of that. Some of the areas the A-list is backing might come as a surprise, and one that could have positive long-term effects on consumers. Here's what comms pros need to know about the expected rise in funding, celebs' role in the fintech industry and how they can help clients reach audience in-step with the market's moves. 

StellarFi coverage via ASTRSK

Fintech FTW

“It’s extremely exciting to see more celebrities taking interest in startups outside of consumer brands, and in fintechs specifically,” says Elliot Tomaeno, founder and CEO of ASTRSK. “The fintech space is one of the fastest-growing startup sectors as consumers become increasingly focused on their financial well-being, building wealth and looking to technology to help streamline everyday tasks such as managing finances.” 

The (near) future of funding

There will likely be more where that came from, as we recently learned from Inkhouse president Jason Morris that funding is on the rise – setting the stage is set for newer tech companies to thrive. Heading into 2024, Morris shares, “we expect to see a balancing out of venture investment as the IPO market thaws and a lot of the early bets in generative AI and climate hit growth stage. This will require companies to scale quickly and build brands with customer, partner and talent audiences. We will be on the lookout for a bounce back in growth rounds (Series B, Series C), especially in the back half of 2024.” 

Brand building

Building brands with celebrity talent will no doubt be a move we’ll see from the tech world in the months to come; leveraging these audiences means creating widespread awareness, and fast. “The biggest asset a celebrity investment can bring to a brand is awareness and cache,” says Tomaeno. “That awareness typically translates into increased user acquisition and brand loyalty which is sometimes a barrier for more technical/financial focused products – this ultimately equates to a massive win for these celebrity-backed fintechs. I’m personally passionate about celebrity investments in fintechs that are helping younger consumers better manage their finances. To have a celebrity investment that resonates with core users will powerfully impact and help the next generation of consumers spend, save, and invest in a more savvy manner!”

Curating your comms strategy

While having a household name attached to your brand can be a guaranteed win, communications pros should be aware of the media sentiment around tech and funding in general today. “Journalists are approaching funding news with more skepticism and selectivity than ever,” says Morris. “We recommend that you double down on your business story, identify the most effective ways to earn third-party validation and plan ahead. Don’t forget to bring in your communications team early—the more time we have to think, develop assets, strategize and prepare, the better the outcome.”