Analysis

November 3, 2025

Fintechs dabble in defence deals: ‘Things have changed since Ukraine’

Pressure to finance underserved defence startups is rising, but ethical questions remain when mixing money with munitions


Tom Matsuda

5 min read

Europe’s fintech lenders are increasingly looking to work with defence companies as governments seek to encourage additional financing to the sector — but digital lenders will have to weigh up whether the risks outweigh the benefits. 

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Tom Matsuda

Tom Matsuda is a fintech reporter at Sifted and writes our weekly fintech newsletter. Find him on X and LinkedIn

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