VC funding into European fintech is yet to return to the levels of the 2021 tech boom.
Instead, the sector is at a standstill in terms of investment growth. Last quarter, fintech investment hit $2.7bn, roughly the same level of funding for the same time last year. In comparison, 2021’s first quarter saw $6.3bn funnelled into European fintech.
But that doesn’t mean there aren’t any success stories to be found. Even amid a funding slowdown, some fintechs have managed to raise capital and are focusing on growing headcount.
Using data from Dealroom, Sifted has compiled a list of the ten fintechs with the fastest-growing teams. To be eligible, startups need to have raised at least $30m and have teams larger than 50 employees. Here are Europe’s fastest-growing fintechs.
Midas
Founded: 2020
Team growth in past 12 months: 197% to 514 employees
Last raised: $45m Series A in April 2024
Total funding: $57m
Midas is an Istanbul-based wealthtech platform geared towards retail consumers in the country looking to invest in US and Turkish equities.
Flatpay
Founded: 2022
Team growth in past 12 months: 194% to 138 employees
Last raised: $47m Series B in April 2024
Total funding: $67.4m
Flat Pay is a Danish fintech company providing payment terminals for SMEs like shops and restaurants.
Vertice
Founded: 2021
Team growth in past 12 months: 168% to 247 employees
Last raised: $23m Series B in January 2024
Total funding: $52.5m
London-based Vertice is a spend management platform that finance teams can use to gain visibility on their software and cloud spend.
Clark
Founded: 2015
Team growth in past 12 months: 109% to 715 employees
Last raised: €69m Series C in January 2021
Total funding: $126m
Berlin’s Clark is a digital insurance broker geared towards consumers in Germany. Users can compare quotes and also access current contracts in the Clark app.
Zilo
Founded: 2020
Team growth in past 12 months: 107% to 118 employees
Last raised: £25m Series A in January 2024
Total funding: $45.3m
Zilo is a UK-based asset management software provider that aims to replace legacy approaches to transfer management, the process for overseeing investments and assets.
Lassie
Founded: 2020
Team growth in past 12 months: 100% to 58 employees
Last raised: €23m Series B in November 2023
Total funding: $40.2m
Lassie is a digital pet insurance company based in Stockholm. The company provides insurance programs for cats and dogs that can be managed on its app.
9fin
Founded: 2016
Team growth in past 12 months: 92% to 213 employees
Last raised: €21.7m Series A in December 2022
Total funding: $36.9m
London-based 9fin is an analytics platform for debt capital markets. Along with data, it also provides news alerts and predictive analytics on the debt market industry.
Finom
Founded: 2019
Team growth in past 12 months: 88% to 304 employees
Last raised: €50m Series B in Feb 2024
Total funding: $74.2m
Dutch fintech Finom provides business accounts aimed at startups and freelancers across Europe. Users benefit from a fully online IBAN account with card options, international transfers and fast invoice issuance.
Finanzguru
Founded: 2015
Team growth in past 12 months: 85% to 100 employees
Last raised: €13m Series B in April 2023
Total funding: $30.8m
German-based Finanzguru is a digital financial assistant where users can manage all accounts in one app. Once users have connected all their accounts it can calculate disposable income and provide analytics on spending and income.
Flowx.Ai
Founded: 2020
Team growth past 12 months: 79% to 95 employees
Last raised: $35m Series A in May 2023
Total funding: $43.1m
Romania’s Flowx.Ai is a fintech company that helps banks and financial institutions create digital products.
