The landscape in Denmark already boasts over 120 active FinTech startups and is successfully generating increased interest from investors.
Concerted efforts from the government, the Danish finance sector and Copenhagen FinTech, the country’s industry association, are helping to create a strong FinTech ecosystem that is taking a key role in the Nordic region. Amongst the most active sub-sectors that are attracting investors are WealthTech, Payments & Remittances and Marketplace Lending.
Over the last three years investments in FinTech companies have grown over eight times. Last year a record $50.1m was invested across 13 deals. The record funding last year was mainly driven by the $22.5m raised by Samlino, a financial services comparison website. In addition, Bancore raised $6.7m to expand its mobile payments and remittances solutions to underbanked population in emerging markets. The two biggest deals are representative of the two most active FinTech areas in the country – WealthTech and Payments which accounted for 18 of the 23 FinTech deals in the past three years. The top three investors – SEED Capital, Nova Founders Capital and SEB Venture Capital funded over 40% of the deals in the country since 2014.
The data for this research was taken from the FinTech Global database. Deals of investment size less than $100k were excluded from the analysis.
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