In the past year 2018, German financial startups have collected as much risk capital as in any year before, according to a report in the Handelsblatt on 7 January.
This presents figures of the German consulting firm Barkow Consulting based in Dusseldorf
A total of around 1.1 billion euros were invested in fintech startups dedicated to new business areas such as online asset management, interest rate comparison or digital payment services. The growth compared to the previous year was very strong at around 55 percent.
As a glance at the recipients of the invested funds shows, a large part of the total was concentrated on a few market participants. For example, the Berlin-based online bank N26 has raised around 130 million euros from well-known lenders such as the insurer Allianz and the Chinese tech group Tencent.
Also in the crypto area very active Solarisbank is called by Barkow Consulting with an amount of 56 million euros as a recipient, as well as the cottage portal Hometogo with an amount of 75 million euros.
Startups + blockchain
In the fintech sector, many startups are focusing on innovative blockchain solutions, in which cryptocurrencies often play an important role. In Germany, the Solarisbank stands out in particular. The bank with a full banking license in Berlin supports, for example, the private investor-focused Stuttgart Stock Exchange with its banking infrastructure and services for its new crypto trading center.
Thanks to a cooperation with startup Bitwala and Solarisbank, an online checking account with built-in cryptocurrency trading function has been available to German customers since December.
Also published on Medium.