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Fintechs in Germany: An overview

N26 advertisements are everywhere on billboards or subways. In these ads, it promises not to take any hidden fee. Now N26 has collected 260 million euros in a huge round of financing and is thus the first German fintech with billions of dollars.

N26 is a startup in which investors put their hopes. According to figures from the consulting firm Barkow Consulting, investments in German fintechs exceeded the billion mark for the first time in 2018, a total of 1.1 billion euros. 55 percent of the amount was collected in the previous year. However, Barkow also included Proptech companies like Hometogo in its evaluation. Although the calculated number of auditors of Ernst & Young on the financing volume, at just under 660 fintech million euros for the year 2018 is much more conservative, it is still considerable. Of that fell on N26 whopping 130 million euros, including Allianz and the Chinese digital group Tencent.

The largest competitors of the digital direct bank come from the United Kingdom and are called Revolut and. In Germany, there is no significant startup competition to N26. Young companies in other areas, such as interest rate comparisons or online asset management, are also financially well positioned.

The Berlin based Solarisbank collected a total of EUR 57 million in 2018 from investors such as Visa and the Lakestar fund. Significantly less than N26, which received 130 million euros in the same year. But the Solarisbank is a major player in the fintech scene. It has a banking license and cooperates with many smaller startups, including Penta or Kontist, thus allowing them financial transactions. Investigations by Finanz-Szene.de showed last August, however, that the business figures of Solarisbank in 2017 compared to the big goals of the company due to low turnover and a high net loss rather disappointed.

Hamburg Fintech valued at $ 500 million after financing Deposit Solutions, provider of the open-money banking platform Zinspilot, has closed a $ 100 million funding round. The rating makes N26 competition.

The largest competitor of Deposit Solutions is the deposit broker Raisin, which owns the platform Weltsparen. Although the last round of financing by the Berlin based fintech is more than a year ago, the investor was none other than the US payment giant Paypal. At the end of 2017, he invested a double-digit million amount. Previously, Raisin had gained access to the British market through the acquisition of a UK technology service provider.

The Berlin consumer loan portal Smava completed in early 2018 a round of financing for 56 million euros. Competitor Finanzcheck was sold in 2018  for 285 million euros to Scout24. Smava has always fought bitterly with Check24 in the past. For both customers advertised about with zero percent or minus loans.

Finanzcheck was sold in 2018 for 285 million euros to Scout24. Smava has always fought bitterly with Check24 in the past. For both customers advertised about with zero percent or minus loans. The startup announced in May, for the first time to manage more than one billion euros in customer funds. Scalable is the market leader among Robo-Advisor companies. An important distribution partnership has also contributed to the strong growth of the company. Scalable has been cooperating with the direct bank ING-Diba since autumn 2017. The deal helped the startup to attract more customers and thus to a higher amount of assets under management. Sobering was the verdict of Stiftung Warentest on Scalable last summer. The testers had criticized about what they saw as a lack of diversification of the portfolio. Scalable’s competitors include Whitebox or Quirion. The last time Scalable collected in mid-2017 a total of 30 million euros at a Post-Mony rating of over 150 million euros.

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