- FinTech deal activity in the Nordics last year set a new record surpassing 2018â€™s high of 127 transactions. Funding has grown by a compound annual growth rate (CAGR) of 39.77 % since 2017, doubling in 2021 while exceeding the global average of 45%.
- The largest FinTech deal in the Nordics to date took place in 2021 when Klarna, a buy now pay later platform, raised $1bn upping its valuation to $60bn. Other large deals in 2021 included Lunar ($249m), a challenger bank, and Pleo ($200m), a solution to manage company spending.
- Nordic FinTech adoption stood at 64% in 2020, compared to the UK (71%) and the US (46%). Nordic FinTech adoption has been successful due to strong financial services infrastructure including e-ID and mobile payments and rapid digitisation, accelerated through support from central government and incumbent bank collaboration.
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.Â Â©2021 FinTech Global