Understanding adoption intention and perceived satisfaction of startup entrepreneurs towards FinTech services

Abstract

Purpose – Despite widespread adoption of FinTech services, like mobile banking adoption, AI adoption and adoption of blockchain technologies, FinTech services such as crowdfunding among startup entrepreneurs are significantly lacking in developing countries, such as India in particular. The purpose of this study is to examine the perceived satisfaction of startup entrepreneurs with the adoption of crowdfunding platforms, considering FinTech as an innovative solution for financing their startups. Design/methodology/approach – The research model is framed using the 246 valid responses from startup entrepreneurs using Fintech services to finance their startups. Nonprobability convenient sampling and the PLS-SEM technique are used for data analysis. Findings – This study assured that the three elements, namely, Performance Expectancy, Social Influence and Perceived Trust, significantly determine the perceived satisfaction of startup entrepreneurs through the adoption of FinTech services for raising finance. Results indicate that Performance Expectancy (Formula prsented) is the strongest predictor of adoption Intention. Contrary to Effort Expectancy, the result shows that it is insignificant in determining Perceived Satisfaction used from the adoption intention of FinTech services. This study also analyzes the mediation effect of adoption intention between Performance Expectancy, Effort Expectancy, Social Influence and Perceived Trust with Perceived Satisfaction. Research limitations/implications – The main limitation of this study is that it only considers the startups from Lucknow for the analysis and excludes the other startups of Uttar Pradesh. The findings of this study provide insights to policymakers, other entrepreneurs and the government to design important strategies and campaigns that should encourage the adoption among the startups that lead to their growth. Originality/value – This study is exceptional in its type as it concentrated on examining the indirect effect of the three unified theory of acceptance and use of technology constructs and one additional variable, that is, Perceived Trust on Perceived Satisfaction, by focusing on startup entrepreneurs, as no specific study has been conducted so far on startup entrepreneurs. © 2025 Emerald Publishing Limited