These Are the 32 Most Exciting Fintech Startups in Europe in 2024
Europe’s fintech industry endured a taxing 2023.
After years of standing as the bloc’s most in-demand sector, investment in fintech has slumped considerably.
In 2022, fintech made up 17% — or $13.9 billion — of the $82 billion that had been invested into European startups, according to Atomico. That number dropped last year when around $4.5 billion was invested — the equivalent of a tenth of the total $45 billion poured into the ecosystem.
The same phenomenon can be found on a global scale too. Venture investment in fintech globally dropped to $43 billion, its lowest level in six years, according to Crunchbase.
But while its existential crisis may not have abated on a macro level, the wider industry’s demise may have been greatly exaggerated. Falling investment has led to a shift in attitudes within the industry after record-breaking sums were invested in 2021.
Companies with weaker business models are out, while more solid B2B plays are in.
While many B2C fintech startups remain successful, the model has changed with VC investors no longer willing to sustain high customer acquisition costs (CAC), instead looking for sustainable businesses in growing, repeat-spend markets.
As investors looked to back companies with pathways to profitability, B2B businesses were the biggest funding recipients in European fintech 2023.
The 2024 edition of Business Insider’s fintechs to watch list comprises startups from multiple European countries across several industry sectors. Open finance, B2B payments, and financial infrastructure businesses dominate this year’s list.
Here are 31 European fintech startups to watch this year, in no particular order:
