- Mapping Europe’s Enterprise FinTech Scene
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Disclaimer: The analysis presented in this section is based on external information and publicly available data, for the purpose of providing a general overview rather than a comprehensive research. We are not liable for any errors. For any questions, comments or feedback, please contact email@example.com
Note: our research was first published as part of Scaling Enterprise FinTech | The Handbook, available to download here.
To analyse the landscape of European firms building B2B or B2B2C FinTech* solutions, we started with ca. 700 Series A or B rounds raised between 2016–2020. We then narrowed the list to ca. 65 companies with B2B or B2B2C models, mainly monetising via financial institutions.
*FinTech = FinTech, InsurTech, Cyber Security, Digital Health etc.
The below graphic shows the companies that were part of our research. However, we are aware that we may have missed some who belong here — in that case, do point them to us.
That said — hope you glean some useful insights to help you on your journey to building (or backinb or working with) a world-class Enterprise FinTech firm out of Europe.
28 of of the 65 scaleups we analyzed were founded between 2012–2014, but almost an equal number were 2–5 years old.
Over half the scaleups were located in London, with Berlin, Paris, Amsterdam, Zurich, Cambridge and Munich among other cities that are home to multiple scaleups.
The majority of the companies we analysed had between 11–50 employees (approximations based on LinkedIn data), but almost as many had scaled to over 100 staff.
Scaleups building Banking/ Lending and RegTech (Risk, Compliance, Cybersecurity etc.) solutions dominate the landscape, followed by those in the InsurTech and Capital Markets space.
Nearly two-thirds of the companies we reviewed brought on dedicated sales leadership — typically in the 3rd or 4th year since founding.
Based on LinkedIn listing of employees based in the US, ca. 24 of the 65 companies we analysed have a presence in the US market, with most of them expanding into the US in Year 3–6.
The majority of the companies set up shop in New York, Boston (given the focus on selling into financial institutions) or San Francisco.
Based on Crunchbase.com funding data on 61 of the 65 companies, we see startup funding going from ca. $2m in Year 1 to peak at around $8m in Year 4 through 6, and dropping off thereafter.
Altogether, the 61 startups for which information was available on Crunchbase had raised ca. $3.2bn in funding as of 21st Mar. 2021, raising an average of ca. $52m to get to scale. If we look at companies founded in the last 5 years, they have raised an average of ca. $30m, with actual amounts tabulated below.
Samarth heads the EMEA presence of SixThirty Ventures, a US-based venture fund investing in early stage (mainly post-Seed/ Series A) Enterprise FinTech startups, and helping them scale via a go-to-market program in partnership with leading US financial institutions.
- Date of publication:
- Fri, 04/23/2021 - 03:00
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