The German start-up market gained momentum in the area of financial technologies last year and will continue to do so in the future.
This is the Bitcoin news of a current study
The German FinTech landscape is slowly expanding according to Bitcoin news, says onlinebetrug. And this despite the fact that the German government sometimes finds it difficult to quickly create a regulated basis for this.
German FinTech companies were able to collect a total of 477 million euros in the first nine months of 2018. This is the conclusion of a recent study. Under the name “Germany FinTech Landscape: FinTech beyond borders – cross-border FinTech-activity”, the company EY published the results of the study, which took a close look at the German FinTech market. The company found out that the market for financial technologies is still growing. Compared to 2016 and 2017, however, growth has slowed.
These findings are consistent with the BTC-ECHO study. We found out that the company foundation in the blockchain sector had its previous boom in 2017. A total of 34 blockchain companies were founded in Germany at the time of the Bitcoin peak phase.
Not all FinTech start-ups were successful
As EY found out, not all of these start-ups were successful. As a result, a total of twelve companies were forced to close down at the same time in 2016-2018. According to the study, ten of them had to file for bankruptcy. The year 2018 provided a quarter of the unsuccessful start-ups with a total of four failed FinTech companies. The majority of them wanted to offer solutions that were business-to-customer. They therefore wanted to penetrate those segments in which companies communicate with customers and in which there are already established major players.
The established financial elite probably responded to this above all with experience. As the EY study also shows, large companies such as banks reacted by starting their own projects directly.
The top performers in 2018
The EY study also provides a ranking of the most successful companies in terms of financing. These include
N26 – 130 million euros
Deposit Solutions – 88 million euros
solarisBank – 57 million euros
smava – 55 million euros
Liqis – 33 million euros