In the first quarter of 2017, European startups in the fintech sector received 667M from venture capital, which is now almost 60% of the amount raised in the whole of 2016. Among the reasons for this growth are the support being given to early-stage fintech companies in the UK and changes to online payments across the EU.
European companies that have received investments greater than $30M IN Q1 2017
Atom Bank, the British mobile bank - €95M
Atom was the UK's first mobile-only bank. It obtained its banking licence in June 2015 and started operations in April 2016, with two types of savings products and an SME lending offering. Since its inception, Atom's aim has been to create a bank that is customer-centric, designed to meet customers' evolving needs and optimised for the mobile environment. Atom recently launched its first mortgage product for individuals, which can be managed entirely via mobile.
The company, which has already raised more than €250M, has investors Toscafund, Neil Woodford and BBVA.
Funding Circle- crowdlending platform €100M
Funding Circle , is a crowdlending platform, which focuses its financing on small businesses and, according to the company, in 2016 alone, investors who lend their money through the platform granted €1.1 billion in loans.
This new round was aimed at growing the company in new markets. Currently, the British startup is present in Spain, Germany, the United States and the Netherlands, in addition to its native UK.
In addition to the $375M that the company has raised in different rounds from its investors, Funding Circle has received an injection of £40 million from the UK government, for boosting alternative lending platforms.
Raisin-Germany, has just entered the Spanish market.
Raisin is a platform that tracks the most profitable deposits in Europe. The company, founded in 2013, received a $32.17M round in January, adding to a further $30M raised earlier.
In December 2016 Raisin arrived in Spain offering high-yield European deposits. The group, which was already present in Germany, Austria and France, offers 14 deposits from the financial institutions J&T Banka (Czech Republic) and Euram Bank (Austria) in different maturities and from a minimum investment of €5,000.
Other posts that may interest you
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Venture capital invests in Fintech: Santander innoventures, Propel Venture Partners
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