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How much fintechs have accomplished during the first three months of 2019?

The Fintech sector is in a phase of global expansion, and that is currently one of the most changing markets and that means faster growth. If there is something to be highlighted about these first three months, it is the large amount of money that is being moved to finance these companies. A proof that investors have very positive hopes for the growth of companies specializing in financial technologies.

N26 achieves the highest mega round

Do you know what a mega round is? It is a round of financing in which more than 100 million dollars have been raised. And N26 has tripled that figure. In its last round, the fintech reached a collection of 300 million dollars, the highest to date achieved by a fintech in Europe. Currently, N26 has a valuation of 2,700 million dollars.

The entity also managed to reach 200,000 clients in Spain in mid March. Two weeks later, it was obtained by its competitor Revolut, who also announced that they already had more than four million customers.

Raisin, the platform for savings products, raised 100 million dollars in its latest round of financing. In which important investors such as Index Ventures, Ribbit Capital, Thrive Capital or PayPal participated.

Launch of Apple Card

If the fintech started to shake the bank, the techfin, the technology companies that are launching financial products, go further. The damage that the GAFA (Google, Amazon, Facebook and Apple) could do to the bank can not be ignored.

Apple announced at the end of March the launch of its next banking product, the Apple Card credit card. This card, which will have the best financing conditions according to the Cupertino company, offers return of purchases made and a badge. Something that all cards do not have and is a novelty in security and privacy. In the credit card in its physical version only appears the name of the holder of the card and also has a plus. Apple or Goldman Sachs never use our data to share to third parties for marketing or advertising.

What will happen in the second quarter of 2019?

Let’s get our crystal ball. Over the next few months, we are likely to experience another new mega round from another fintech. For which bets?

What marks the current trend are alliances, collaborations, the launching of new products that break with what is traditionally offered.

Fintech customers will increase. Maybe N26 already exceeds 300,000 clients before the summer months, if it is not Revolut that gets them before. Who knows!

New actors will emerge, an example is the neobanco Bnc10, which will launch its bank account in the middle of May.


Also published on Medium.

Published inFintech

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