If you want to work in Fintech today, you will have to choose if you want to work for a bank, perhaps modernizing their tech stack, or at a Fintech company. However, the latter does not mean startup like most people think. Maybe you are not looking for a job and you just want to follow the industry. So let’s have a look at the top European startups in Fintech.
There are some really huge Fintech companies out there. For instance, Chinese fintech giant Ant Financial with a $150 billion valuation. If you work in finance, you know that this a very big number. And that is a private market valuation. Ant Financial is preparing what could be one of the biggest IPO of all-time through a dual-listing in Hong-Kong and Shanghai.
You could as well work in consulting, advising companies on fintech solutions, like McKinsey or Strategwhy. However, let’s focus on startups for now. More specifically on the top European startups in Fintech.
Who are the top European startups in Fintech?
Sifted has published a really useful review of the Top European startups to follow in 2020 in partnership with Dealroom.co. You will find in there the usual suspects:
- Greensill, a supply chain finance provider
- Klarna, payment solutions
- OakNorth, SME challenger bank
- N26, retail challenger bank
- Atom Bank, retail challenger bank focused on mortgages
- Monzo, retail challenger bank
- TransferWise, money transfer platform
- Starling Bank, retail and business challenger bank
- Revolut, retail challenger bank and money transfer platform
- Checkout.com, payment solutions
These companies are not really startups anymore. They have millions of customers and thousands of employees, and some of them make serious money as well. They have raised hundreds of millions and command valuation that banks envy.
There are many more within this review and thousands of fintech startups in Europe. Have a look if you are targeting a specific sub-sector within fintech.
Fintech capital of the world?
You will have noticed that most of the startups mentioned are located in the UK. This is not a coincidence, the UK, and London more particularly, is at the forefront of the Fintech industry. Many reasons for that, from regulatory framework to ease of access to venture capital.
Who knows what will happen when the Brexit transition period ends in January… most probably other cities in Europe and beyond benefiting by capturing more fintech businesses!
Oh… and there are also AI or blockchain startups that develop solutions for financial services… Plenty of choices!