Fintech
Q3 202405.08.2024

Wealthtech (2024)

Picture of Tom Matsuda

Tom Matsuda

at Sifted

Europe’s wealthtechs were some of fintech’s biggest winners in the 2020 tech boom. But in the post-pandemic lull that followed, the UK’s Freetrade, and continental offerings such as Trade Republic, Scalable Capital and Bux, have all experienced lacklustre growth according to SplitMetrics data, which counts app downloads. For example, Bux has seen an 86% decline while Freetrade dropped by 43% compared to the previous year. Both fintechs also cut staff amid a VC slowdown.

This year, the sector is showing signs of heating up again with US wealthtech giant Robinhood finally launching in the UK — its third attempted launch in the country. Not only will the US company go up against Europe’s wealthtechs but it’ll also have to convince Europeans — who are typically more comfortable with cash-based investments — to invest more in stocks. There’s a lot of opportunity here, Wander Rutgers, the COO of London investment app Lightyear, told Sifted in March — and a big potential prize for any company that can help alter European investment habits.

20 startups to watch

  • Sidekick logo

    Sifted score

    7.84
    -

    Sidekick

    • Strong investor(s)
    • Serial founder(s)
    • Hiring

    • Year founded

      2022

    • HQ

      London, United Kingdom

    • Latest round

      Seed
      €3.9m / Jun 2024

    • Total funding

      €3.9m

    View company profile
  • Midas logo

    Sifted score

    7.26
    -

    Midas

    • Strong investor(s)
    • Hiring

    • Year founded

      2020

    • HQ

      Istanbul, Türkiye

    • Latest round

      Series A
      €40.9m / Apr 2024

    • Total funding

      €51.8m

    View company profile
  • Spiko logo

    Sifted score

    6.58
    -

    Spiko

    • Strong investor(s)

    • Year founded

      2023

    • HQ

      Paris, France

    • Latest round

      Seed
      €3.6m / Jun 2024

    • Total funding

      €3.6m

    View company profile
  • Theia Insights logo

    Sifted score

    6.4
    -

    Theia Insights

    • Serial founder(s)

    • Year founded

      2022

    • HQ

      Cambridge, United Kingdom

    • Latest round

      Seed
      €5.9m / Mar 2024

    • Total funding

      €5.9m

    View company profile
  • Timeless logo

    Sifted score

    6.23
    -

    Timeless

    • Strong investor(s)
    • Serial founder(s)

    • Year founded

      2020

    • HQ

      Berlin, Germany

    • Latest round

      Early VC
      €11.5m / Feb 2024

    • Total funding

      €23.5m

    View company profile

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