Germany is one of the key FinTech geographies in Europe that has enjoyed steady funding flows along with some stellar FinTech players in the market to create global news. The year 2018 was exciting for Germany in terms of FinTech funding, which recorded over 55% of YoY growth. Celebrity FinTechs such as N26 and wefox have continued the momentum in the first quarter of 2019 as well by raising $300 million and $120 million respectively, and these are not the only two to cash-in large checks.
However, regulatory scrutiny has followed the rapid expansion of scale and importance for players like N26. In April 2019, Germany-based challenger bank N26 was again in the news, but this time not for good reasons. German regulator BaFin spotted the FinTech bank for its security vulnerabilities and increasing customer service complaints. BaFin has ordered N26 to address staffing, outsourcing, and technical issues. We believe this case will serve as a lesson for other FinTech players in this growing FinTech market. Here is a list of 45 well-funded FinTech players in Germany that are poised to scale-up and one should watch out for:
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BATS Global Markets[1] was founded in 2005 and has raised $45 million in total funding. It is an operator of exchanges and services for financial markets. The Chicago Board Options Exchange acquired BATS Global in September 2016.
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Kreditech[2] was founded in 2012 and has raised $281.6 million in total funding. Kreditech offers credit scoring and online financial services to users by leveraging big data. It fuses big data with complex machine-learning algorithms to underwrite and create digital banking services for
