Fintech in Europe - statistics & facts

Fintech is a term applied to describe technological solutions developed in various financial services areas, such as online banking, mobile payments, and cryptocurrency, that are used in the daily life of consumers. The development of financial technology further supports the growth of niche markets in Europe, such as the ever-developing alternative finance, crowdfunding and peer-to-peer lending, as well as automated loans, robo-advisors and automated investment management. Fintech is an industry on the rise, as it can be seen by the growing number of fintech startups worldwide.

Fintech investment landscape

Investment interest in European fintech companies increased sharply between 2019 and 2021, despite some fluctuations. However, 2022 was a challenging year for the sector as the investment landscape witnessed a significant decline in value across various sectors. Concurrently, the number of investment deals also experienced a decline, albeit not as pronounced as the decrease in investment value. Fintech investments in Europe were highest on the British market, with Germany and France following from a distance.

User insights

In Europe, fintech users have witnessed a significant surge in recent years. The digital payments segment emerged as the frontrunner, boasting the highest number of users. With its convenience and efficiency, digital payments attracted a vast user base, enabling seamless transactions and reducing reliance on traditional banking methods. However, it's worth noting that other fintech segments experienced notable growth as well, as consumers recognized the advantages offered by various innovative solutions. Online banking penetration exceeded 90 percent in five European countries in 2022, with Norway leading the way. In terms of user distribution across countries, the United Kingdom, Germany, and France stood out with the highest number of fintech adopters. These countries showcased a vibrant fintech ecosystem, driven by a combination of progressive regulations, technological advancements, and a strong appetite for digital transformation.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Aug 31, 2023

Key insights

Number of fintech startups in EMEA
9,681
Total value of investments into fintech in EMEA
2.7bn USD
Leading fintech unicorn in Europe
Revolut
Get more insights

Editor’s Picks Current statistics on this topic

Number of fintech startups worldwide from 2018 to 2023, by region

Fintech (Mobile/online banking)

Number of fintech startups worldwide 2018-2023, by region

Market capitalization of largest fintech companies worldwide in 2022 (in billion U.S. dollars)

Fintech (Mobile/online banking)

Largest fintech companies worldwide 2022, by market cap

Total value of investments into fintech companies worldwide from 2010 to H1 2023 (in billion U.S. dollars)

Fintech (Mobile/online banking)

Investments into fintech companies globally 2010-2023

Related topics

Regional insights

5

Fintech segments

7

Banking industry

5

Recommended statistics

Overview

5

Overview

Investments

5

Investments

Deal activity

4

Deal activity

Mobile banking

6

Mobile banking

Open banking

5

Open banking

Finance apps

5

Finance apps

Country comparison

4

Country comparison

Further reportsGet the best reports to understand your industry

Mobile banking in the United States
Mobile banking in the United States
Fintech
Fintech
Blockchain
Blockchain
Fintech in Latin America
Fintech in Latin America
Fintech in Mexico
Fintech in Mexico
Digital payments in Turkey
Digital payments in Turkey

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)
Email
support@statista.com

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)
Email
asia.support@statista.com

Mon - Fri, 9am - 5pm (SGT)

Contact Kisara Mizuno
Kisara Mizuno
Senior Business Development Manager– Contact (Asia)
Email
support.japan@statista.com

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)
Email
eu.support@statista.com

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)
Email
latam@statista.com

Mon - Fri, 9am - 6pm (EST)

Menu