Top 10 FinTech Startups of Europe
Top 10 FinTech Startups of Europe

Fintech Startups are exploding in Europe, home to over 3500+ companies dealing with financial technology. The reason behind the massive growth and popularity of fintech startups in Europe is due to a favorable regulatory environment, open banking, advancing technologies, investor and consumer interest among many more reasons.

We bring before you the Top 10 FinTech Startups of Europe:

1. Klarna

Klarna
Klarna

Founders: Niklas Adalberth, Sebastian Siemiatkowski and Victor Jacobsson

Founding Year: 2005

Headquarters: Stockholm

Funding received: US$ 2.1B

Investors: Sequoia Capital, TCV, FJ Labs, IVP, General Atlantic, Fabrice Grinda, Northzone, Atomico, Creandum, QED Investors, GIC, Wellington Management, DST Global, Wellcome Trust, BlackRock, Ant Group, GP Bullhound, Silver Lake, Dragoneer Investment Group, Visa and 11 other investors.

Klarna
Klarna

Klarna offers an e-commerce payment solutions platform for traders and buyers. It is popular for its “buy now, pay later” scheme that lets shoppers pay for retail goods over a period of installments without any interest. The platform empowers customers with the liberty to choose how and when to pay. They also provide direct payments, pay after delivery options, and installment plans. The FinTech startup is now one of Europe’s major banks and is providing better payment methods to 85 million consumers spanning over 17 countries globally. Klarna has partnered with almost 200K merchants and records over 1 million transactions per day.

2. Greensill Capital

Greensill Capital
Greensill

Founders: Jason Austin and Lex Greensill

Founding Year: 2011

Headquarters: London

Funding received: US$ 1.7B

Investors: SoftBank Vision Fund and General Atlantic

Greensill is one of the leading providers of working capital finance for enterprises and customers globally. The startup had founded the Greensill Bank that led to the creation of the world’s first Supply Chain Finance fund. It offers this Supply Chain Finance to clients across Europe, North America, Latin America, Africa and Asia and works with a cohort of banks and recognized investors to provide solid funding streams to fortify the entire process.

Greensill Capital
Greensill Capital

Greensill has delivered more than US$ 150B of capital to 8 million-plus customers and dealers in more than 175 countries in the last nine years since its inception. The startup also has offices in New York, Chicago, Miami, Frankfurt, Bremen, and Sydney, with more than 800 experts worldwide.

3. TransferWise

TransferWise
TransferWise

Founders: Kristo Käärmann and Taavet Hinrikus

Founding Year: 2011

Headquarters: London

Funding received: US$ 1.1B

Investors: SV Angel, Index Ventures, Andreessen Horowitz, Kima Ventures, Seedcamp, IVP, LocalGlobe, Sapphire Ventures, Vulcan Capital, Future Fifty, ACE & Company, Mitsui & Co, IA Ventures, Fidelity, BlackRock, Valar Ventures, Max Levchin, World Innovation Lab (WiL), Baillie Gifford, Lead Edge Capital, Mosaic Ventures, JP Morgan, Vitruvian Partners, Virgin Group, Firestartr, Green Bay Ventures, The Accelerator Group, and 7 other investors.

TransferWise offers a money transfer facility enabling private individuals and businesses to send money abroad without any concealed charges. The startup runs on a very smart model ( which has now been copied by many others) which implies it doesn’t actually transfer money across borders, something that would obviously incur fees. Instead, it maintains separate containers for each currency, which it then uses to send funds from. 

TransferWise
TransferWise

TransferWise has 14 offices worldwide and transfers almost US$ 5 billion every month. It has catered to over 8 million customers to date and helped them save approx. US$ 1.5 billion every year.

4. OakNorth

OakNorth
OakNorth

Founders: Joel Perlman and Rishi Khosla

Founding Year: 2015

Headquarters: London

Funding received: US$ 1B

Investors: GIC, Future Fifty, SoftBank Vision Fund, EDBI, NIBC Bank N.V., Toscafund Asset Management, Clermont Group, Coltrane Asset Management, Indiabulls Housing Finance Limited

OakNorth is a European bank that provides business and property loans to small and medium-sized companies.

OakNorth
OakNorth

Its cutting-edge platform leverages machine learning, years of credit proficiency and massive data sets (counting unconventional and previously unavailable data) to provide borrowers a personalized credit-borrowing experience. It currently has over US$ 17B of assets under service.

5. Revolut

Revolut
Revolut

Founders: Nikolay Storonsky and Vlad Yatsenko

Founding Year: 2015

Headquarters: London

Funding received: US$ 917M

Investors: Crowdcube, Index Ventures, Seedrs, Global Founders Capital, Seedcamp, TCV, Balderton Capital, Point Nine Capital, Draper Espirit, Future Fifty, DST Global, Ribbit Capital, Lakestar, TriplePoint Capital, GP Bullhound, Venrex Investment Management, Mastercard Start Path, Marco Valta, NJF Capital, Greyhound Capital, Yoma James Kukor, Nicole Junkermann, Ricardo Schaefer, Socii Capital and 13 other investors.

Revolut is a FinTech startup that focuses on mobile banking, card payments, money transfer and foreign exchange. It offers a prepaid debit card, currency exchange, and peer-to-peer payment facilities to its customers. 

Revolut

It strives to build an impartial and frictionless platform to utilize and manage money around the globe.

6. Monzo

Monzo
Monzo

Founders: Gary Dolman, Jason Bates, Jonas Huckestein, Paul Rippon and Tom Blomfield

Founding Year: 2015

Headquarters: London

Funding received: £384.7M

Investors: Y Combinator, Accel, Crowdcube, General Catalyst, Thrive Capital, Future Fifty, Passion Capital, Upscale, Goodwater Capital, Jeremy Yap, Reference Capital, Kingsley Advani, Yoma James Kukor, Orange Ventures, Reece Chowdhry, Stripe, Latitude, Blue Wire Capital and 11 other investors.

Monzo Bank Ltd is an online European bank that also gives its customers access to an assortment of products and services. Monzo was one of the initial, among multiple new app-based challenger banks in the UK. One can easily do payments with the Monzo card anywhere in the world, for free.

Monzo
Monzo

No costs are added to the exchange rate. Cash withdrawals from an ATM are fee-free in the European Economic Area (EEA). For other nations, you can draw £200 for free every 30 days. After that, you will be charged 3%. 

7. Checkout.com

Checkout.com
Checkout.com

Founders: Guillaume Pousaz

Founding Year: 2012

Headquarters: London

Funding received: US$ 380M

Investors: Insight Partners, GIC, Coatue, DST Global, Endeavor Catalyst, Blossom Capital

Checkout.com is an API-based platform providing online payment solutions aiming to improve the user’s checkout experience. Its platform offers direct access to domestic processing across different payment methods and regions, counting all the leading credit and debit cards, online banking, PayPal, Apple Pay and other eWallets. This is achieved via an incorporated and integrated platform that also provides fraud supervision tools, analytics and inclusive reporting features.

Checkout.com

It currently has 13 offices globally including in cities such as, London, Paris, San Francisco, Singapore among many more.

8. Raisin

Raisin
Raisin

Founders: Frank Freund, Michael Stephan and Tamaz Georgadze

Founding Year: 2012

Headquarters: Berlin

Funding received: US$ 206M

Investors: Index Ventures, Goldman Sachs, FJ Labs, Fabrice Grinda, Thrive Capital, DN Capital, btov Partners, Ribbit Capital, PayPal Ventures, Orange Ventures, Avala Capital, Latitude, Tom Stafford, Larnabel Ventures, Binomial Ventures.

Raisin is a savings and investment marketplace that connects retail clienteles with banks wanting to increase their deposit reach. The startup’s aim is to provide customers the best interest rates to ensure a smooth investment process via one single platform. Its platform gives access to high-class savings products from all over Europe.

Raisin
Raisin

9. Qonto

Qonto
Qonto

Founders: Alexandre Prot and Steve Anavi

Founding Year: 2016

Headquarters: Paris

Funding received: US$ 151.5M

Investors: Tencent Holdings, Alven, DST Global, European Investment Bank, Valar Ventures, The Family, Taavet Hinrikus, Ingo Uytdehaage

Qonto is a challenger/neo bank (challenger banks are small, recently created retail banks in the European region that compete directly with the longer-established banks in the country and focus on providing personalized banking experiences to its users) that offers easy, efficient and transparent business banking methods to freelancers and SMEs (small and medium enterprises).

Qonto
Qonto

It leverages technology, sophisticated design and first-class customer support to achieve the same. Almost 50K business customers are now a part of Qonto’s ecosystem.

10. GoCardless

GoCardless
GoCardless

Founders: Hiroki Takeuchi and Matt Robinson

Founding Year: 2011

Headquarters: London

Funding received: US$ 122.3M

Investors: Y Combinator, Accel, SV Angel, GV, Salesforce Ventures, Balderton Capital, Adams Street Partners, Future Fifty, Passion Capital, ACE & Company, Notion, Start Fund, Tom Hulme, Axcel Partners

GoCardless is a renowned trailblazer in the field of recurring payments. Its comprehensive payments network and technology platform provide easy payment methods to regular customers to pay wherever they want to by Direct Debit (a practice where the payee directly withdraws money from the payers’ bank account). It has partnered with more than 40K businesses globally, from MNCs to SMBs. 

GoCardless
GoCardless

The startup handles over US$ 10B of payments each year. It has offices in the UK, France, Australia and Germany. 

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