London: Fintech capital of Europe
Since 2004, the majority of Fintech deals have taken place in the UK, and particularly in London. In 2013, the UK and Ireland accounted for more than half (53%) of Europe's FinTech deals and more than two-thirds of Europe's FinTech deals. funding (69%).
"This trend looks set to continue, with a number of London-based accelerators recently emerging that see the sector as a source of opportunity, such as Level 39, which was created barely a month ago and is the world's only accelerator of Fintech projects, or Startupbootcamp"comments Diego Gutierrez, an expert in alternative financing of the group Abra Invest.
Fintech in Spain
In Spain, there have also been several large transactions in the Fintech sector.
Perhaps the most talked-about has been that of Kantoxthe pioneering firm in the exchange of currencies without bank intermediation, which closed this February 2014, the biggest financing round of the Fintech sector in Spain , a 6.4 million euro round led by Partech Ventures and Idinvest. Kantox had previously closed another €1M round of funding led by Cabiedes.
Another company which has also received funding is PeerTransferPeerTransfer, a global leader in international payments in the education sector. PeerTransfer, based in Valencia and Boston, has received €5M in funding for International Expansion and New Products. The investment has been led by QED Investors, FIDES and KIBO Ventures.
Onza partners, the society of private equity chaired by José María Irisarri, created in December 2013 and focused on internet projects and mobile applications, has led a financing round of more than €3M in Fintonic, a service to manage the home economy.