About Max Friedrich, ARK Analyst
Max joined ARK as a Fintech Analyst in December 2018. Prior to ARK, he spent nearly two years at Redstone, a Berlin-based venture capital firm. Max also was Research Assistant at the Centre for European Economic Research (ZEW), where he studied the syndication behavior of venture capitalists and subsequent effects on their portfolio companies. Max obtained his Bachelor of Science in Economics from the University of Heidelberg.
Research by Max Friedrich, ARK Analyst
February 25, 2020 | by Max Friedrich, ARK Analyst | Digital
Square’s Cash App now seems to be the most widely used digital wallet in the US. According to our research, the number of Cash App monthly active users (MAUs) has more than quadrupled in two years, from 7 million in late 2017 to 29 million at the end of 2019. In the last few weeks, […]October 22, 2019 | by Max Friedrich, ARK Analyst | Digital
We believe that after adding more than 8 million annual active users during the six months ended September 30, 2019, Venmo is on track to surpass 50 million annual active users by the end of October, as shown below.1 As a result, it probably hosted more deposit account customers than any other bank in the […]June 26, 2019 | by Max Friedrich, ARK Analyst | Digital
According to our research, Square Cash App’s viral customer acquisition strategy has collapsed its cost of customer acquisition relative to that of traditional financial institutions. With an expanded menu of products beyond peer-to-peer payments and debit cards, Cash App profits per user could surpass those of banks. One of the leading consumer finance applications in […]June 05, 2019 | by Max Friedrich, ARK Analyst | Digital
When was the last time you received physical mail from your bank urging you to sign up for a new credit card? Probably not too long ago. In 2018, Wells Fargo spent almost $1.6 billion on advertising and promotion, postage, stationery and supplies, or roughly $6001 per new checking account. Retail banks pay between $350 […]