Investment in Swiss FinTech companies has increased over four-fold in the past three years, raising a record $63.6m in 2016.
Switzerland is establishing itself as a significant player in the Europen FinTech space recently reaching 303 active companies, according to data from FinTech Global. As a result the country is attracting increasing amounts of capital with $114.7m invested since 2014 across 58 deals.
Last year Swiss FinTech companies raised $63.6m across 22 deals. The record funding was mainly driven by the $40.4m raised by Balluun, a B2B commerce platform. In addition, Stonestep raised $4m from XL Innovate to expand its Microinsurance as a Service offering in Asia. The third biggest deals was the $3.6m taken by Investiere, a crowdfunded VC investment platform.
The number of newly founded FinTech companies has been growing at an increased rate since 2010
Since 2010 the number of active Swiss FinTech companies tracked by FinTech Global has grown nearly four-fold to 303 at the end of 2016. Interestingly, the rate of growth in absolute terms has been increasing consistently since 2010 and last year saw the first pullback with only 34 new FinTech companies being registered.
Over 50% of the FinTech companies in Switzerland are concentrated in four sectors
The Swiss FinTech scene is well spread out with all 12 sectors part of FinTech Global’s taxonomy being represented. However, over half of the companies are focused in Infrastructure & Enterprise Software, WealthTech, Payments & Remittances and Data & Analytics. It is interesting to note that due to the well developed banking and wealth management industries in the country Institutional Investments & Trading companies comprise 10.2% of the total active FinTech companies which is significantly higher share compared to other European countries.
The data for this research was taken from the FinTech Global database. More in-depth data and analytics on investments and companies in Switzerland as well as across all FinTech sectors and regions around the world are available to subscribers of FinTech Global. ©2017 FinTech Global