FinTech Investments in Belgium more than tripled in 2016

The Belgian FinTech sector is gaining impressive traction, with investment growing over 12 times in the last three years. Belgian FinTech startups have attracted $88.6m across 32 deals since 2014. Last year a record $65.4m was allocated to the sector.

The Top 5 Deals Raised over $55m

The biggest three deals in that period were all closed in 2016 raising over $40m. For instance, TopCompare.be fetched €20m from Nova Founders Capital, Peter Thiel, SBI Holdings and others. The second biggest deal raised half as much with IbanFirst, a financial services platform for SMEs, collecting €10m from Xavier Neil (Founder at Kima Ventures) and other investors. The top three was rounded off by UnifiedPost, an enterprise software provider, raising €10m from SmartFin Capital and existing investors.

Infrastructure & Enterprise Software leads the way in both capital invested and number of deals

The sub-sectors in FinTech that closed the most deals in 2016 were Infrastructure & Enterprise Software and Payments & Remittances with 13 and 7 transactions, respectively. Over three years, however, Infrastructure & Enterprise Software and WealthTech attracted over 80% of the total amount invested in the country. The growth in number of investments was led by three investors – SmartFin Capital, Pamica NV and AAA Find – which participated in 31.3% of deals during that period.

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