The Fintech revolution opinions expressed by entrepreneur contributors are theirs. At the start of 2021, Europe had a doctrine, a startup that gained a valuation of $10 billion or more.
Now he has three - and it looks like the continuing Fintech frenzy sweeping the continent will leave many more doctrines in its wake.
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The three doctrines that have been built on European shores come as Klarna, Revolut and Checkout, which are all Fintech companies and, according to data from corncobs, they are closely followed by 19 new unicorn Fintech entrants. This year.
This significant increase in the number of highly regarded Fintech companies in Europe shows the key role the continent plays in disrupting key tax sectors, such as payments, banking, insurance, lending, commerce and e-commerce.
As the] data shows, 2021 has already been a banner year for venture capital outflows for European Fintech companies - illustrating what is clearly a mature industry.
Overall, Fintech exits accumulated $70 billion in venture capital between January and July around the world in major public listings like that of the cryptocurrency exchange Coinbase . European releases represented around 20% of the total figure.
It was also a banner year for startups across all industries in Europe, with more companies reaching the coveted unicorn status of $1 billion in valuations than ever before. As of this writing, there are now 125 unicorns from private companies headquartered in Europe.
In addition, nearly a third of these companies, 39, are based in the financial services industry, making the Funtech industry one of the largest unicorn creators across the continent.
Build on the prosperity between the UK and the EU.
Despite the uncertain relationship between the European Union and the UK, the growth of UK fantasias has been a welcome addition to Europe's financial infrastructure.
UK and London. in particular, have worked tirelessly to attract fantasias despite the threat of Brexit ramifications hanging over the country. As a result, the UK has led the way in terms of Fintech financing rounds between 2017 and the first half of 2020 - more than double the number two country on the list, Germany.
A recent example of the UK's relationship with the EU maintained across the Fintech industry can be found with terror, a London-based Fintech that achieved unicorn status in September 2021 at the following a fundraising of $130. Round of investment firm Tiger Global Management and payments giant Stripe.
So far, the company has seen around 400% growth in monthly payment volume in 2021, strategically expanding to 14 European countries, taking advantage of open banking rules in the EU and the UK. Uni that require lenders to open their data to other companies in order to better tailor products to customers.
The allure of Europe.
Taylor has strived to take advantage of opportunities across the European Union. Like many other UK-based fantasias, trials aim to reach European audiences through cities like Dublin in order to stay connected to both markets in a post-Brexit landscape.
Building a bridge to Europe, Taylor established a European headquarters in the Republic's capital of Ireland in order to tap into the city's flourishing technological landscape and a pool of skilled talent.
The success of the European headquarters is overseen by former WhatsApp and Facebook executive Joe Morley - who intends to use his experience to help Taylor's growth across the continent.
“Ireland has become the EU's premier Fintech hub with the likes of Coinbase, Stripe, Remitly, Square and our customers, including Paysafe and Payoneer, who are based here,” Morley explained. “We are thrilled. Join them, making Dublin our home from which to speed up our .
European expansion and deliver our market-leading open banking services to banks, Fintech companies and e-commerce platforms across the continent. ”
The attractiveness of European business has become so strong for fantasias that we are seeing large American players looking to offer new services across the continent.
"PayPal is also expanding its presence in Europe in two ways," notes Maxim Manturov, head of investment research at Freedom Finance Europe. “Its commercial debut partnership with Mastercard has extended to four other European countries:
Belgium, Finland, the Netherlands and Portugal, and Euronet Worldwide pay will use the PayPal QR code as a sales solution at its points of sale.
The PayPal Business Debit Mastercard, introduced in the United States in 2003, is now available in 11 European countries. According to the company, .
PayPal business customers can now spend money on their PayPal accounts at over 52 million Mastercard locations around the world.
As more businesses move online to continue to gain traction in a post-pandemic environment, their reliance on operating cross-border transactions across Europe has been key to staying in touch. flow.
Now, despite the challenges of the health crisis itself and Brexit, data from 2021 so far shows that the European Fintech Fintech ecosystem is thriving.
With venture capital firms increasing their profit margins by betting on European Fintech Fintech and US firms looking to capitalize on EU prosperity, it looks like we are on the cusp of a golden age for financial technologies in Europe.
