European is at the forefront of fintech innovation, transforming the financial landscape across the continent. With a rich ecosystem of startups and established players, these companies leverage technology to enhance financial services, making them more accessible, efficient, and user-friendly.
From digital banking and payment solutions to investment platforms and blockchain applications, European fintechs are addressing the diverse needs of consumers and businesses alike.
Here are the companies that raised the most in 2024 so far:
– SumUp (UK) is a global financial technology company that provides small businesses with affordable payment solutions. The company was founded by a small team with a vision to build a world where small business owners can thrive by doing what they love. Today, more than 4 million businesses trust SumUp to handle their payments. Recently, SumUp raised €1.5 billion from private credit lenders in an oversubscribed round led by Goldman Sachs.
– Abound (UK) was established to provide affordable, fair, and flexible lending solutions that prioritize borrowers’ interests and support their long-term financial well-being. The company’s mission is to change the way that credit decisions are made globally so that more people can access loans at rates they can afford to repay, driving financial inclusion. Their AI technology, Render, analyzes customers’ bank transaction data to assess their individual financial situations and determine affordable monthly repayments. Unlike traditional credit checks that rely on statistical averages, Render offers a more personalized approach, resulting in 75% fewer defaults than the industry standard. This year, the company secured £800 million to expand access to fair credit.
-,Monzo (UK) is a UK-based digital bank known for its user-friendly mobile app and innovative financial services. Founded in 2015, the company offers a range of banking products, including personal and business accounts, budgeting tools, savings options, and international payments. The bank’s app allows users to manage their finances in real-time, track spending, and set savings goals. With a focus on customer experience and technology, Monzo has grown into one of the leading challenger banks in the UK. In the first nine months, the company raised £500 million.
– Akur8 (France) is the machine learning-powered insurance pricing and reserving platform. Designed specifically for insurers, Akur8 has been transforming non-life insurance pricing through transparent AI since 2019. Its cloud-based, fully integrated platform enables insurers to price with unmatched speed, directly impacting financial results and improving risk assessments. With the recent acquisition of the Arius reserving platform, Akur8 is broadening its product offerings and customer reach, increasing the value it delivers to insurance carriers globally.In September, the company secured $120 million in series C funding, bringing its total raised investment to $180 million.
– ID Finance (Spain) is a company that specializes in delivering innovative financial solutions. The company leverages machine learning and advanced data science to offer competitive financial services to the underbanked, helping customers build credit profiles. The ID Finance’s proprietary technology enables them to analyze large volumes of data, including behavioral biometrics, detect anomalies, and improve risk assessment efficiency by 50 percent. Machine learning and artificial intelligence are integral to the operations, driving everything from optimizing marketing campaigns to enhancing the customer service experience.In February, the company has secured $150 million in debt funding.
– Nebeus (Spain) is a company which empowers digital nomads and marketplaces with payments, crypto, and card solutions. The company began as one of the world’s first cryptocurrency platforms, specializing in P2P crypto lending, and after several years transitioned its business model to focus on centralized crypto-backed lending, with a mission to bridge the gap between cryptocurrency and traditional finance. At the beginning of the year, Nebeus secured €250 million in institutional funding for its crypto-backed loan program.
