When Will European Fintech Startups Grow Up?
TECHCRUNCH: Fintech, the home of the fabled unicorn, is hot. There are now 36 fintech unicorns in the wild, which is up 25 from 11 over the last year. This staggering growth is a reflection of the hype around fintech, where a plethora of startups are using technology to compete against or collaborate with established financial players. The result is a dramatic increase in company valuations as investors look to get in on the ground floor of the next big thing.
However, there is an enormous difference between being valued at $1 billion-plus and realising that exit. Vast potential seems to be sacrificed too early. Young unicorns are culled. Why is that?
In Europe the fintech scene isn’t set to create a wave of financial technology giants hell bent on world domination. Too many are built to exit, rather than to compete. Read the full article
THE COINTELEGRAPH: Fintech Fusion are calling for applications for their 2015 class, which will be their first. Sébastien Flury, the incubator’s program director, believes that banks have to ‘”reinvent themselves” and they have started to recognize this fact. Switzerland is one of the world’s major financial hubs, which creates tremendous opportunities for the development of fintech innovation. Read the full article