Nordics and Baltics “hotbeds” for fintech innovation, says Copenhagen Fintech CEO
The Nordics and Baltics are currently “hotbeds” for fintech innovation, according to the CEO of Copenhagen Fintech, Denmark’s fintech innovation hub.
Thomas Krogh Jensen says: “We see a huge interest from big financial institutions and tech companies globally that want to tap into the huge potential in the Nordics and Baltics.”
He says there are several reasons the two regions are currently hot for fintech investors and innovation.
Among the reasons, he says, are the fact the two regions are “highly” digitised regions particularly in respect to financial infrastructure.
He says there is also a “high degree” of trust and adoption of financial services in the regions; and the Nordics and Baltics also have a proven track record of producing global fintech winners such as Wise, Pleo and Klarna.
Jensen pinpointed several fintech sectors which are hot right now in the Nordic and Baltics.
He said: “Fintech solutions that address climate change and ESG/sustainability are still in a position of strength for the region.
“We increasingly see insurtech – especially for SMEs – being an area where interesting things are happening and also more specialised solutions in sectors such as wealth management, digital assets and financial crime and anti-fraud.
“Many of the solutions are of course now fuelled by the latest developments in artificial intelligence.”
Copenhagen Fintech has recently inked a deal to launch a VC-backed pre-seed programme to speed up Nordic and Baltic fintech startups.
The programme, which is backed by early-stage Swiss investor and “innovation ecosystem” Tenity, will see ambitious early growth start fintechs given financial banking.
They will be given €50,000 pre-seed capital with a potential follow-on investment of up to €250,000, as well as access to a platform for scaling.
The startups will also benefit from mentoring and get to take part in a public demo day.
Jensen adds:
“For early stage (pre-seed) startups the key is access. Access to capital. Access to network, knowledge and talent – that is exactly what we are providing in this programme.
“Access to funding through the Tenity Incubation Fund. Network, knowledge and talent is provided in the programme with specialised sessions focusing on what is important for the companies.
“Our combined network of investors, financial- and tech partners and industry mentors and experts are second to none.”
IMAGE: varsbergsrolands
