The number of FinTech deals under $1m in Sweden has more than halved since 2015

The Swedish FinTech market has shown signs of maturity between 2015 and 2019, most noticeably in the decreased frequency of deals valued under $1m by 31.6 percentage points (pp) during the period.

Stockholm has been the most successful city in attracting FinTech investment, with FinTech companies based in the city receiving over 82.4% of deal activity since 2015. The city leads the way mainly because of its large highly skilled talent pool and having supportive institutions and government authorities.

The Payments & Remittances subsector captured more than a quarter of Swedish FinTech investment between 2015 and 2019. Klarna, a Swedish challenger bank, is the largest FinTech (Payments & Remittances) company in Europe to obtain a banking license. The company was valued at $5.5bn in August 2019 and is growing at a rate of 6 million new clients in the US annually.

Originally in 2015, the Swedish average deal size was just over $8m, this has significantly grown to over $22.8m in 2019, showing investment in FinTech companies increases at a higher rate compared to the number of deals.

The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2020 FinTech Global

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