Czech FinTech stagnates in Q3 2022 with only one deal announced

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  • FinTech investment in the Czech Republic is expected to reach $22.8m in 2022 based on the first three months of 2022, a 71% drop from 2021. Deal activity in the country has also dropped from 2021 levels. Deal activity in the country expected to reach 21 deals in 2022 although a lacking third quarter indicates this could be even lower.
  • Prague, the country’s capital, was home to the most start-ups in the first three months of 2022 with 11 deals announced in total, a 69% share of deals. Praha was the second most active city with four deals in total.
  • SkipPay, which offers a buy now pay later service, was the largest Czech FinTech deal in Q1 – Q3 2022 raising $4.2m in their latest seed funding round led by ƒåSOB. The money will be helping SkipPay to increase its product offering. Richard Kotrlík ,CEO of Skip Pay said “The data confirms that many customers are returning to physical stores from the online space. And a large part of the marketers are taken aback by this. Although they have the same prices in stores as on the Internet, they offer a significantly wider range of services online. He also added that FinTech wants to enable customers to shop physically, but with the advantages of online sales.”
  • Czech Crypto regulation was integrated in 2018, to stop Anti-Money Laundering/Combating the Financing of Terrorism and continues to follow EU directives. Czech companies involved in Crypto must apply to The Czech National Bank (CNB) for a license to operate. Overall, individuals that trade Crypto are taxed at a rate of 15%, while businesses are taxed at a rate of 19%.

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. ©2023 FinTech Global

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