Several well-funded fintech companies that exclusively focus on serving the freelance or SME market segment have been founded in Europe over the last years. For instance, Paris-based Qonto raised €136 million million, London-based Tide raised €156 million and Amsterdam-based Finom recently raised €17 million in venture capital. Given the remarkable market opportunities in SME banking, which we explored in the last post, this one dives deeper into fintech companies that shape the European business banking market.
Rather want to listen to our thinking on the future of SME banking? Check out our latest podcast episode: The future of banking services for SMEs
A deep dive analysis of Europe’s SME fintech players
Creating winning future strategies requires an in-depth understanding of how the next generation of business banks approaches the market. How do they position themselves? Who are their target customers? What features differentiate them?
In order to answer these questions, we analysed the market and put together a comprehensive list in airtable containing 30 key players that are actively operating in Europe and are mainly targeting sole traders or SMEs. The research was intentionally focused on fintechs offering daily business banking, such as payments, business current accounts and cards. Niche solutions, such as expense management tools like Moss or Pleo, and Banking-as-a-Service providers have been excluded. The research sample intentionally provides a snapshot of a broad variety of emerging banking business models. Going forward, more SME focused fintechs will be included, so please contact us if you have any suggestions.
The airtable offers key data of each fintech company, such as a snapshot analysis of their business and offering, their strategic way to play, a link to the company homepage, founding date, active markets, licensing, total funding, number of business clients and number of employees, clients per employee, account tiers and pricing, main revenue streams, UX snapshots, recent advertisements, target customer segments, as well as a full feature set comparison and notes on differentiating features.
You can access the airtable directly or have a quick look below: