European fintech has had an unprecedented year.
It's welcomed dozens of new unicorns, a wave of IPOs and mammoth funding rounds for early giants like Revolut and Klarna. 2021 has also welcomed several newcomers — and they're growing fast, fuelled by a frantic funding scene.
Using data from LinkedIn and Dealroom, we have shortlisted the fastest-hiring fintechs this year (up to December 7). To avoid the results being skewed by tiny teams with significant hires, we’ve focused exclusively on post-seed fintechs who have raised over €50m in total. All the data below has been confirmed with the companies featured to guarantee accuracy.
These are the 14 European fintechs who have grown their teams most aggressively over the last 12 months.
Juni is the neobank built for ecommerce merchants, hoping to be their financial companion. The startup has quickly expanded into the Netherlands and the UK, which is its biggest market, offering a suite of products from lending to return-on-investment tracking features.
Team growth this year: 644% (from 9 to 67 employees)
Total funding: $76m
Uncapped plays in the revenue-based financing space, up against the ever-growing mix of newcomers like Capchase and Pipe. The company offers ecommerce startups who are generating regular income an alternative to VC funding, in the form of specialist loans up to £5m.
Team growth this year: 554% (11 to 72 employees)
Total funding: $117m (including debt)
Similar to Uncapped, Wayflyer also offers loans to ecommerce companies, providing a range of financing and analytics solutions that help improve cash flow. The startup is now active across Europe, aiming to deploy over $100m in Spain and Holland in 2022.
Team growth this year: 485% (39 to 228 employees)
Total funding: $76m
Zilch has launched what it dubs “an American Express for millennials and Gen Z”, offering a card with a personalised credit line which is then paid back in instalments. The company, which has a consumer credit licence from the UK regulator, hit 1.2m downloads last month after announcing it had secured a $2bn valuation.
Team growth this year: 453% (38 to 210)
Total funding: $400m (including debt)
Copper is a London-based startup focused on helping big investors store and manage their cryptocurrency investments. The plan is to be the custodian and regulatory bastion for banks and other large institutions, when they start offering crypto.
Team growth this year: 350% (~40 to 180+)
Total funding: $84.3m (next round set to close imminently!)
Primer is a no-code payments integration. It allows merchants to easily aggregate various payment providers, avoiding reliance on a single tool or having to clumsily manage multiple providers at once.
Team growth this year: 329% (24 to 103)
Total funding: $73.4m
Alma is France's leading buy now, pay later player. Led by Louis Chatriot — a second-time founder — Alma boasts a unique credit scoring system, providing instant lending decisions to shoppers.
Team growth this year: 311%
Total funding: €65m
Scalapay has positioned itself as yet another Klarna rival, playing in the red-hot buy now, pay later space. The startup went live in summer 2019 and, within months, had convinced over 1,000 merchants across France, Italy and Germany to sign up. It is led by 32-year-old Simone Mancini.
HQ: Dublin (operational in France and Italy)
Team growth this year: 250% (40 to 140)
Funding: €170m (including debt)
Team growth this year: 212% (80 to 250)
Total funding: $88.7m
10/ Trade Republic
Trade Republic is Europe's largest commission-free, stock-trading app — similar to Freetrade and the US’s Robinhood. Backed by Accel, Creandum, and Sequoia, the company now employs more than 600 people. It serves over 1m customers across Germany, Austria and Switzerland.
Team growth: 200% (from 200 to 600+)
Payhawk is an accounting tool for businesses, offering a single place to manage everything from company cards to expenses to bills and invoices. The startup claims it can save companies huge amounts of manual work and potential errors. It currently operates across 27 countries.
HQ: London / Sofia
Team growth: 160% (25 to 65)
Total funding: $136.5m
Zego offers tailored insurance to London gig workers. The company hit a $1bn+ valuation earlier this year.
Team growth: 143% (217 to 529)
Yulife sells directly to employers, offering perk packages to their staff. It focuses on insurance and financial products.
Team growth: 137% (59 to 140)
Total funding: $86.6m
PrimaryBid is a platform that allows private individuals to take part in capital raises on the public markets. The startup recently partnered with Deliveroo to allow their customers early access to their (somewhat anti-climatic) IPO.
Team growth: 112% (51 to 108)