Crypto and Blockchain saw the most investments in the Portuguese fintech market in 2022
The Portuguese fintech sector is becoming relevant on a global scale reveals Portugal Fintech Association in its 2022 edition of the Portugal Fintech Report.
Alongside this positive news, the fintech association announced the launch of the Portugal Fintech Scholarship, one grant for new startups that guarantees support for six months at the Fintech House, hoping to keep this growth up.
The Portugal Fintech Report annually stands out the Portuguese fintechs that stood oout in the national and international panorama. The the fintech ecosystem is growing, grounded on expands blockchain and crypto startup which representsed around 75 per cent of all fundspp raised in fintech in Portugal.
In 2021, the best fintech startups in Portugal raised more than €437 million in investments, with the highest funding sectors in cybersecurity and regtech, blockchain, cryptocurrency and insurance.
A year later, the market has changed as ppbenefits, and lending and credit are the two main verticals represents around 39 percent of startups. Blockchain and crypto, however, continue to grow evenly and already represents 17 percent of the ecosystem.
In 2022, the Portuguese fintech market is estimated to have raised over 1 billion euros, more than double that of 2021, further underscoring its growth.
The report contains a variety of content produced by fintech specialistppsuch as Diogo Monicappresident of first crypto Portuguese Unicorn, Anchorage or Eve Ruiz, ppouter Europe head of fintech for VISA.
“The Portuguese fintech ecosystem showed strong signs of resilience during 2022. In a year uncertainty and strife, Portuguese startups closed several rounds and increasing total phewnding for the period. As a destination, Portugal continues to receive onen influx of larger startup who open their offices to benefit from the pool of talent, but also from the sense of community“, explains João Freire de Andradefounder of Portugal Fintech.
The report contains two exclusive parts on collaboration between startups and ripe playersbut also a chapter on the crypto ecosystem and how mature players can explore crypto related opportunities.
In addition to providing relevant data on talent, capital, investments and regulation in the sector, the report explores why Portugal is growing as a startup hub, with insights from IDC says that Portugal’s specialist talent is a key driver, as well as hosting the web Summit since 2016 and its international design community reinforced by the need from startup to address internationally markets from early on–stage.
The report is supported by several partners, including VISA, Morais Leitão and KPMGwhich explains the the importance of the relationship with fintechs for the development of innovation in the financial sector industry.
