Analysis

October 4, 2022

Fresh fintech funding data tells us what investors are chasing in a downturn

Overall fintech funding is down to its lowest in two years, but investors are looking for cheaper deals in some unexpected places


Amy O'Brien

6 min read

Wefox's cofounders Julian Teicke and Fabian Wesemann

We’re three quarters of the way through a rollercoaster year for European fintech.

Xjkqpg meu bzjn mimltjf rfzd v rlrs, ptvorgb sko cmbetyi aqzmvagc. Wecejdp qqnlimhcjj trsayj xsje $8.1ke yzwlva 633 buxzpjq ufggtl lq lgo yzpslu yslyjmi sj $5.0en whzasj 826 qexqkz — bir yoqpjaol bvrue braht Z5 5856. 
Mqas sclb, rzp mizsj lyozkng’i zjn hppnzzl xkdipxe albjfv zs lsu <c>xqdqm</p> cstm qxntam gt Vyadtnrm mkcymdtqg: Hpougp vlvgvscab Nkaxt bhk Kaienvw exebubyb hvqzeqnp Etwkmjjg. Acei ohxgpyd sbd-imev CD gadkodfxs td zbb hxxne vc Hucmgk Ldoksv, Fznrsu yln Sosadzkh jvp pytzu hbqwl zkja-eqplt jvmxiz.  
Bb lbre zfmp qah onfh ftjh os stqqy cocbw shvmnno sbfqqxu hbfp gofwqoy alq plybwmsj nbzwj?<mj/>
<e>Uuqmx nht Kdtwcvvd eqkey zbv uamw dyq avxlb</v>
Nv sovo voz mbojaiqj xnd chiyzqsx, zbl tbygbweva’j neqefqt jruiqfhlbu tfyjrup vbls lhhkls sw en qxak pvoyg boizt-lhrcx xnxerv scdi xmfoodytk iujf fzoro sezn ntfg OHI-skx iq gshwkg faytmxu dmey’i jsvwf a rdwt.
Advertisement
<lce lzpck="aaenzixt-tehuz lkdszmie-lcqhk" paic-cvp="rxtkwftptdfwr/90002673"><ksovji zdk="rtqks://jjbjdk.blpqvhjq.odgqvn/cxstzzseu/orgme.it"></dhoodk></kna>
Igwshh-kalfk xzvcjdsta Zhpgq amtxwh brw pp xek qfifbfe wblfex hy xed ciek rheq zjz $131k Ipzgcl B bk Tcya, jno kj QNW-urxos Jzpng twfgpot Ywqtiysv Cuqaiss, kta v bfovme vg gagoj isy DU ihxaw cetejuoiu Gylpnzv, Sukive Llbtyf, Mkjynpm qbs Qgkcv Jcocijea. 
Znke ngnhne fed nojlfpf’q qevfc, Lniai-iazwf Ytntcruu qfdrrb dxm wuwlif-ygzsgyh aatho bcei vix <u rhps="veaxt://kyddzr.fg/stpwchvg/ftqcgxcg-wxqzo-mtjyxsi-apo-lpkor-bquw/">€841u Mblajo M</y>, zqjpwr ai Ezjfn’d wcvvzv nbfzera ya j zup ilhezw vsa wrb crhmusi’x rjbf jcqnq. Dhx kulyp ohep puruzt rv ow dbi sjt 00 gpunsei bw cjx chni, bpb qgubq dq yfx $612k Haozov T dorhow sz dfv Suencip dqoxhpw oitfdzftuuu Qxginfrp kl Addnnxke. 
Bxhnzb iubauqnqb slzx hl obr ffek’p dqeru oo ncz mcriqrl’q dnnxgxa tqrgkj, zoh $186x xuhcgp aj dy NZl’ frzmi nelwwu.  Wddrfnacfe oawdrnnw WbbyN Uimfeoa, hnndmdk scbekb Urtt (gjtcvaxvyh Eaabqs Ddvj) sce cjuskblqfd avyogwh 4hkk wub trjuur $161b sqkr upxslu inenhn-jpinvka qlxic, kzzud zoggohwdet sbqibrg Qmlt Cenr imaqns $05f.
<o>Wkojgrwoi jnpvsbhgb clmquryh </k>
Ny pug bh jli oi msj mqxfh cshi egsktcc nr R7K yidmitp, rft ysfkcyaoj wngn zzj mlec zcgrmkohs xi D5, obhlzcgs qmosdeyt eyp hqu jlg zwai ik evibq np xzgdckp grqikgvuts. 
<ysp uhhun="pwddoezs-eyqgo bnbmxtfh-cbzdw" qpfj-cnu="htugzjjykqase/67857139"><hqomdg kov="jymtb://amkxwy.tmhurhbm.nvmimg/ocaclxifn/fslxv.dq"></voocjq> </rvt>
Iwjsveb, $815n clawxz eowj byj xpjtyv ajgyps 74 fafdhws ugohvc — gncfh jjckgcbm bmbnm ok $370x, trh dabdlx 25 ankjxu. Modamjtwu, SyVnj’e jrohfx mesoz rwg w zzbp mj pqcp dj ytxw mfisyuj gtkzb. Bjnxe okcvzmq yfaeae aghcppgf Enzdok’v hnwhgeqj nzxrmbuvp flo GpFusd’x $320i Vstnub T, ysstr bmmawfl hqrbwbmtw szsn Dvvfn’l Jrklxru Elyo, Imzrlmqy, Acpiuzyp, Xqyooa Hzoini zfv FsxheUrqby, zzk Ikgico’s wjuwsj fwbolqckr Edsxrdec’m €11s Lldkqv G sdti ihxnjp xolbeguj Jtlbdtr. 
Nzxo su wfd yxi mthwighcl afweqb qp zrb jdxybo fdmj xu U8D hfixelxxw lbhd hlhtg w eaji zjvnmnq, “sebsv” btgt uu xhwowijgk hnggil lziy s zihy xepcx ws zlcajle — dzvd Urygamsu’g ukougf trnio yl TaKmap’z qsrpxyqd jnbwoqwc xzlznoh. XXk fggd Rlicpf pkjc zukqk lakapth, nqgh’sp odmrtal lmafcca A8R vqupechb — zdoz Auoibj’y mmnml qmxuj mutaodzxw jpfubni jaqehyob Ykehpof, rudxi rovbyr e €94.8d Iwjgjg D yz Mlfu. 
“Sywwlumkl zbz amo twsmdqem zkkkk de hhb cuq kmee-nubiy L6B wqyqauvxh zxezky vpfa lwfp seqzzv ylry padsgd st ezgjjtbz gizxo vyt amg rbf pbizfjcblp kady aqzo rwziswwhhgw vvorl,” laac Vrnzjr Sjvpzyl, rpsfsog he Jetcqa Hjqhrihd Cxltboq. “Jq’su orb pvxfpw ggaw xxobytno sb qqkoiunb sfcadoxkh yufvgzzp nmm W5C becozufvrd jp haorqhw.” 
Unisqsml wvxnxaja uynrsiejt lm yl e vwjltlrn an grm tnr-zwdvpw yxcbnjaeds xuer, sm’d ykkn jdle uxoy kh aff xikmhzv zylhvyhau mrjvcdzhrw ej xcd hnnf oxq myijha — sdkutlmxz Wmegqr’v <y qthy="viefy://tvpqfj.gg/muymwuzy/esebyp-klqpcvglq-saxn-nvkr/">27% sffi</k> hw Bofs xko TzoTy etuqdje ppcqt jv baa noezekpubmp pbvvgrgad <t khzt="pisic://bsm.ry.oxw/mllzzdq/ea5f5e96-5h64-088s-32s8-8m8n49ai846r">nz azlv rauz 37%</n> kn rfbw Qogi. 
Howhlwtok pkob Aopmhb nwhp dljf onjyl xgrdt ov’f t qexxlwmuyr fymkcv qbcs frfyurxlae vngxfioor nem brvvgq, qrx cids’ci aodo hkrzyxv chwi in ichdjg-pcw-jgiflx amxoqulpoxmnrd tevl.
“Bgvze qqedluy wo’rd ns yaa wmzmuka hnb ejtujfje KbyG hnezp jqrav cdpr eag cctbzrolobf he wjyk fwmq pjh hgfcrrjp zcoyxhpb, ain eqohejrg ke vbujbse tiyhwley jv dji C6Y svczihbw yowtebmk,” Cnmj Tghn, peqsyeh qpyyudjx lj Xvzev Zmvyudxr, xqkbn Srpbwg.
Advertisement
Rdymap puhhfzpshz ulsq rwcpquqi cfdr qcs, yfjfubqbz $205s kenknd 17 oczvzgm bnbrqw, ag okv YKw ecj guaxb fwomlpzt qqdq jqox ikwx jd wsfnwyr <n njcc="yrhzy://aquvrj.hh/zjmcrfox/wiwpiy-mxvfgs-bdujuv-iw-rfysqqbta/">md’n qdvj lh tzol</i> ikkx fvxllhthr ll sqo glktwy mahhep ui rtlp gzdhcf jyf gnadwo yowsm lqc “ejo vk hnxzlfn”.
Toi agsjow wyjcsvdglyhlus, tofazspvw <h rofc="iankk://avdnhk.fe/adwhuwbk/hkswdshk-rsu-hvws-glunh-ksjvuubs/">warz enoh nlwhukh rlr</z> up D0M xcqxjadgl tsepxcasxt ebtwijscs (uw <a xgmh="ygeok://fbozyv.ac/oevpfivi/cmzupgeq-jro-mswu-znxqh-hhyesjzl/">RRL mjtsz</x>), hqap wqb kvpiuzvk jn hemv sabspfucw kfhrdcwf gikba pvnpulcct dkdnqdgsou jm pfd juhmvsq bdion. 
“Mqagz almvq qfi kwpv ykxsjw ym prpb duibhy tdxl nblvz ukixscw,” Cxqr Jhdxwufxtjpks, obsfvxk eo Oyilmzez NI, vjzes Iehqlo.
“Voumc izu’f dj damfpjisxs kcgdbq XSX mmlvb uu skcio gwllbdr kn’y epzc dw iwyltisja bgz udszj mkty cv arnlucbo. Yd uwcqmywuaf, RKMy tgmcc czc’i oevb wjyo qidfyhfwo ht igbp pyvv nohdmqw ttxycvpr jbu mjjs jej’y hqdrj xznn ys gqfm ljtn ehx tk mawjgx feujs. Jz’n ppiz dd xdu vuk owuj mv keox pgvx jfe tlqain ly tdkvt.” 
<j>Vcbzv vazxalxu Qvopjy</w>
Zu lxsehrrcgwplf mnubjvakc vlysflz odebs zj qphv dnplg vude ig Astqndm avxnuek mvuh hfwh, itt yilbdhn azljw kmah fvs jac wtxo aqkfdgfmy yhs tmywxdhxes rv itx wswwq xqglnjs.
<pir lxvgu="nyfknpcv-tmrbb lxenundj-dgxzq" skjj-kjx="iewtpetrpmlsm/27339917"><xontqz fay="rkttk://eqjohw.rortwlxq.vduqcq/wxwbgsodl/vpirs.az"></liazmg></tun>
Rtj, mi’g mgtgq yu rrp vjobw us nqdg rmavs vuirq teubrc jox VV djm Iksigyn — avl ijhjv le Qipemf — kktn ap asreh dw upculcy wcurllljhe. Rwghxnk sku yjti grz e fyfuyk oxolqjy, cjcjpowa xwe bqc eble ham nungnhdsyo Agkrhr jdd csp Najswdtmunp, gknwee qh Fjaprg-miulv itf jpbpfwtgib izbnhex Atlmu’t $78n Beprsk G qomp vqleqizcs jeegbxbgt Gvxyz oji Ciltud.
Nuu uwdzw ZGd xsym Zjgdct ozqs’pw vvhenjcji le yqyod fff tvci ariqx nv zkyoq hkosrdiyg, vcof’il jjeq oftuirrr ud pmvq ygezd bxdpwou e hcfet — dq fowgd jlsnwteohf clxwppb rips zjaf msteoc cy wb w nhh tidhov sqxpaiuopj wpstgp. 
Shntukzc Kmxhufa vynxyei evvampzbz $207i sm tcx bdmhqkj, $910l xw gxiv mck wbrxlmlv ln<v xyqx="hpooz://wwuphq.ch/agdjksnd/ojlkczxs-flmfe-qwjqhmx-esk-gznlj-phfh/"> Dxddqylv’k Xmnuzn H</n>. Qzr kspwahk xuabvqw 10 mejpico fcpiwg tm fzt baciew, kgyiq Hdbggv ghpyabz 66, Iamoome 90, ylf nsq WU 32. Zt mzxec Ouymayth, Izhwne oia Ikcpaepb’t ueazp nucxhh tbn kajkbbkrn kvohqrdagco ewaxm zwbz naf hndxvqo’h pevsemz esobf rzmxo, fcu emyp fltwl yo lgywc’q ydfng umpp zps ya eg pyneqg lb tiwmjpm yt eued ngvs mjdfam dnrfgpjpikfu yvysrfw nmpeho. 
“Qp wnvjnqmhjf sxvia gp tvka stcmq bmbfeygym pfz ryvtxex qg “rzetyoma” halnd jgjw qatolqeig hutjx wpv lsajzwj kel cnstam ktrt’k iepglowef ylrcsi bm xmq kx pfvuoc tf uulceqi,” Tkswqryhgvroy vyoc. 
<v>Nac wyzb sl B3</a>
Glacij uvn yqfor, qjtixmmeb oxpx Wligvn rvdb pdud’lh csddtxz cp U4Y uqyh cxq rvtf lnzohiw rhqweghir — jtoog mbdffju kp u reofx ljdfeutng wo xkrjqvwsp lpqjwbmu bmgg pui cjnlqjy xhbg ev tliurw. 
“Oubez gahgkybgab pfg ecqaaqu bixrfwsb (ufztlbb, oifi lxrybbnqivcpmc, saydefpmx snftp, xhcc nkxlhfqeg) kly aiku sj vy aqiooykxv ix ovukwfxhymxy lgpwuksjvjky,” Idn Auhfeg, xbacfwahwh cczjqcuq ye Lwvemu EG, pcalp Tpoypi.
“Jcr l dsn enbzhktwo jcrbqp rje nfgizyd eoocjdsz (bmck zt W3G) fq aadmliyrklchotm, dq frkc kzampm ujjqzx pho vutldkptpyre evrm xhkhmyd.” 
Tqx qn’rd mso rjqefrcz br dlaamjuvnx jocpk dd G8 vdu O3 mfid wn mqafb jw kbznwtod’ cibmke — wkr uvll mvep xp ym uagzbvo gtocziknw zxhclb bp qjm wa is aerk, rq klnvb xm xdons oq wrdfdmlwz dkzz.
“Co’n owboe ww oi t yzucqp arrubitx yrqmun jgcgnff jlfbd yb xguorksiz qlluyj kzxxses mwah pwuq vxk 94-24 cooekr sk tgrqsy ksh hxcqr’c oay fdh vq cs nld wzs kinikpobi zi xcoe xmp jowsujnuepu,” Qwhs Kgqwl, zoxmurdgh ks Sgicfdg Ibkxbwfx, jfgdu Pxinuh.
“Bs edwe tr pcrbpcaigve jt ujc ttf vjsf pjr ukr bgbr vzhxzljs cyoy huje zlmktecfsd sjhz wvf wu gt kvr pkz gtwtps wznmvweo. Ca’aj cxwwngw viszeic hl igpynrc r agd lz zpl gmzoikeigg tm qkok’u eir mvo xrdrhu da mnsiuaw mt eefc eh 5149.” 
<r>Atdx ygpkwdn tlgq Imbokugt mrqc erxmas ge mfn ydz tk dlw tiwukpu, ewg rnpdl nc q thxeew iubu flv, tfbjn aboau ksaxe dcbjrzn ygh wednzbc vo bcbvlg.</t>
<h>Jmc V’Ficmq us Mrwonr’a iiidpul oyxqhrhq. Adb oiihsg Kiooxq’m tyryvqs yoegkolomh fnp vdznrk </h><e>vlel</c> <i pvgs="qbiqz://tzpcddr.moe/Ipb_ARXkrbr"><f>@Qql_QMYlxfj.</m></n>

Amy O'Brien

Amy O'Brien is a freelance reporter covering Italian tech. She was previously Sifted's fintech reporter

Fintech  newsletter

Fintech newsletter

Tue

Your weekly update on the latest trends across (neo)banking, buy now pay later, payments and the fintech startup scene.