Top 10 Fintechs in Continental Europe by market value

After our sister publication, InsurTech Digital, covered the top 10 insurtechs in the UK last week, FinTech Magazine now casts its gaze across continental Europe, revealing its top 10 fintechs by market capitalization (excluding the UK and Ireland).

10. Pleo ($4.7 billion)

Danish fintech Pleo has raised $428.1 million in funding over 6 rounds, with its latest investment of $200 million in December 2021 taking the company’s valuation to $4.7 billion. By offering smart corporate payment cards and enterprise expense management solutions, Pleo automatically categorizes customers’ expenses, reducing the administrative burden of expense management. Fintech integrates with accounting software such as Xero and allows businesses to set spending limits and control employee spending.

9. Qonto ($4.98 billion)

French fintech Qonto was founded in 2016 and offers online banking services to small and medium-sized enterprises (SMEs) across Europe. A substantial $552 million Series D funding round in early 2022 brought the company’s valuation to $4.98 billion, with Tiger Global and TCV leading the investment round. Fintech offers digital banking tools to help SMEs with their finances, by offering business bank accounts, payment processing solutions, expense tracking and invoicing. Qonto also provides real-time alerts, expense categorization and multi-user access.

Trade Republic is a German mobile investment app that offers commission-free trading of stocks, ETFs and derivatives to clients. Fintech was launched in 2019 and has already reached a value of over 5 billion euros and has more than 1 million users. The company aims to democratize investing by making it accessible to everyone, regardless of investment experience or budget. The app offers a user-friendly interface and a wide range of investment options, making it a popular choice for both experienced investors and newcomers to the stock market.

7. Mambu ($5.5 billion)

Operating in over 5 countries worldwide, Mambu is a German fintech offering a cloud-based banking platform to help businesses streamline and modernize their financial services. The fintech’s valuation reached $5.5 billion after it raised $266 million in Series E funding in late 2021, with the investment led by EQT Growth. Mambu’s software enables companies to deploy new products, improve customer experiences and automate back-end operations. With clientele ranging from large financial institutions to small startups, the fintech’s platform is designed to be highly flexible and customizable, making it suitable for a wide range of financial services, including loans, deposits and payments.

Netherlands-based fintech Mollie saw its market capitalization rise to $6.5 billion after it raised $800 million in mid-2021. The fintech offers payment solutions to a range of businesses, from startups to large enterprises. The platform allows merchants to accept payments from a wide range of payment methods, including credit cards, iDEAL and PayPal, among others. Mollie’s payment solutions currently serve 120,000 businesses across Europe and are designed to be easy to integrate, with simple and transparent pricing solutions.

Sweden’s Klarna was once the most highly valued fintech in continental Europe, and was worth over $10 billion in 2020. However, by 2022, its market capitalization had fallen around 85% from the previous year. That is until a venture round in July 2022 saw it raise another $800 million at a valuation of $6.7 billion, making it the fifth largest fintech in continental Europe today. Klarna was founded in 2005 and offers financial services for online shops, direct payments and installment plans. With its “Pay later” function, Klarna allows customers to pay for products in interest-free instalments. Since its founding, the company has raised over $4.5 billion in funding and now serves more than 85 million customers in 17 countries.

UiPath is a Romanian software company specializing in Robotic Process Automation (RPA). The company’s software helps companies automate repetitive tasks by building and deploying software robots that interact with digital systems. Founded in 2005, UiPath is now one of the most widely used RPA platforms, serving customers in various industries such as finance, healthcare and government. The company’s mission is to democratize RPA and make automation accessible to everyone, without requiring advanced technical skills. A public company, UiPath’s market capitalization is $7.8 billion.

3. N26 ($9 billion)

German challenger bank N26 is in the top three for the largest fintech companies by capitalization in continental Europe. A Series E funding round of N26 valued at $9 billion saw it raise €775 million ($852.4 million) in 2021, with lead investments from Coatue and Third Point Ventures. Fintech’s app-based banking system enables users to open an account within minutes and manage their finances in a secure and user-friendly manner. N26’s features include instant transactions, no foreign currency fees and budget tools that help customers track their spending. The company has over 7 million customers worldwide and a presence in 25 markets.

Valued at $14 billion, Luxembourg-listed Blockchain.com takes second place on the list of Europe’s largest fintechs by market capitalization, raising $490 million over 9 funding rounds. Founded in 2011, Blockchain.com is a leading provider of cryptocurrency products and services. The company has created over 100 million wallets using the platform and processed transactions in over 140 countries. It offers a suite of digital currency services, including a wallet for securely storing and managing cryptocurrency, an exchange for trading digital assets, and an API for developers to build blockchain applications. Blockchain.com’s interface and robust security features have made it a popular choice among crypto investors. In addition to its core offerings, the company also offers educational resources and market insights.

1. Adyen ($43.8 billion)

Adyen takes the top spot as Europe’s incumbent leading fintech by market capitalization, valued at $43.8 billion. Adyen is a global payments technology company based in Amsterdam, offering a single platform that enables merchants to accept payments from anywhere in the world in any currency through various payment methods, including credit cards, e-wallet payments and bank transfers. The company’s clients range from startups to Fortune 500 companies, across multiple industries. With customized payment solutions, Adyen says it is constantly developing its technology to meet changing demands in the global payment landscape. The company’s valuation skyrocketed after a series of successful partnerships, with its clientele including Uber, Spotify and Netflix.