The innovation landscape in Finance which was once dominated by huge multinational banks is now being shaped by small agile innovators. Fintech startups threaten to disrupt the traditional business model of big banks leaving them with two choices: embrace the change or become obsolete.
KPMG tracked top innovators in Fintech and ranked them based on total capital raised, rate of capital raising, geographic diversity, sectorial diversity and the X-factor (product, service or business innovation). Following are the top innovators in Europe:
#1 Kreditech, Germany
This innovation powerhouse came into existence in 2012 and delivers a broad scope of financial services with a focus on serving global consumers. The firm was founded by Alexander Graubner-Müller (CEO/Co-Founder), Sebastian Diemer (Co-Founder) and Rene Griemens (CFO/Co-Founder).
#2 Atom Bank, United Kingdom
Atom Bank claims to be the future of banking. The firm came into existence in 2014 and has become an innovative model for digital banking. It was founded by Anthony Thomson and has received investments from BBVA, Woodford Investment Management and Toscafund Asset Management.
#3 Funding Circle, United Kingdom
With a focus on small businesses, Funding Circle provides a platform where investors can find businesses which have been approved for lending. It has presence in the UK, US, Germany, Spain and the Netherlands. The firm came into existence in 2010.
#4 Klarna, Sweden
Klarna provides e-commerce payment option and distinguishes payers from buyers. It was founded in 2005 and has receive investments from Permira, Visa, Anders Holch Povlsen, Creandum, Fabrice Grinda, FJ Labs, Wellcome Trust, Northzone, Wellington Management and Reimann Investors.
#5 SolarisBank, Germany
Founded in 2016, SolarisBank has received investments from SoftBank, Arvato Financial Solutions, SBI Holdings, UniCredit Group, yabeo capital and FinLeap. It aims to provides banking for the digital economy.
Are you a Fintech innovator in France? Write to us and you might feature in our ranking for French firms.
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