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FinTech in Poland - statistics & facts

Fintech, or financial technology, is a sector of the economy using modern information technology and innovation in financial services. Fintech solutions can be offered by innovative startups, but also by mature, well-established financial institutions. Fintech solutions have become very popular in Poland. Virtual wallets such as Apple Pay or Google Pay, online shopping and loans, car sharing, crowdfunding, and even mobile banking applications are widely used by Polish consumers. However, companies in the fintech sector focus not just on financial services. Their business also involves asset management, cryptocurrencies, P2P insurance, as well as advanced analytics such as cloud computing, Big Data, or artificial intelligence.

Characteristics of the fintech industry in Poland

The Polish fintech industry is developing dynamically, mainly due to the cooperation of many creative startups with the banking sector. Most of the fintech companies are young firms running their business from a few months to five years. They are mostly small teams of several to several dozen employees. The largest number of companies on the Polish fintech market operates in the fields of electronic payments, loans, and the development of sales channels. In their activities, they most often use API technology related to the implementation of the European Union PSD2 directive. Moreover, almost half of them cover data science and big data, and a quarter of them develop solutions for identity verification. However, few companies in this industry operate with the Internet of Things (IoT) and blockchain technology, despite their enormous popularity. Financing is undoubtedly a barrier to fintech market development in Poland. Almost half of companies use equity capital, which is not enough for the company to develop and compete on the market in the long run.

Digital payments

The most widespread group of services offered by companies in the fintech industry in Poland are payment methods. It includes both product innovations related to payment cards or the internet, as well as mobile payments and cryptocurrencies. Both Polish fintechs and banks have introduced many solutions that are also recognized abroad. One example is the Polish API standard adapted to the PSD2 directive, created by Polish financial institutions. Poland was one of the first countries to introduce instant transfers in the EU, and such solutions as Express Elixir or Bluecash generate growing interest. British Revolut, Czech Twisto, or Polish DotPay, BlueMedia, and BLIK payment systems enable fast, secure, and seamless online payments. The BLIK system (Polish Payment Standard) was created by Polish fintech. It reports record high results in the number of transactions for a long time. It is expected that by 2024 the value of electronic transactions in the Polish fintech industry will amount to nearly 68 billion U.S. dollars. The crisis related to the coronavirus (COVID-19) pandemic has strengthened the popularity of electronic money, which is slowly pushing traditional cash out of the market.

Interesting statistics

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FinTech in Poland

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Important key figures

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Digital payments


Crowdfunding and Venture Capital


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