Profiles of Successful Fintech Unicorns in Europe

Europe has been a hotbed of innovation in recent years. This can especially be seen as we note down the profiles of successful startups over the past few decades. Now considering this, the world of Fintech and Healthtech has seen a rise in some notable names. The startups in these sectors are redefining the way we manage finance and improving the overall well-being of the citizens of Europe. Here we will delve into the profiles of successful startups in Europe in the fintech sector.

Successful Fintech Startups in Europe

FinTech, short for financial technology, refers to the application of technology used to deliver innovative financial products, services, and solutions. This field encompasses a wide range of technologies designed to improve and automate different aspects of financial services.

Klarna

Klarna is a global fintech company that provides a wide range of financial services and solutions to consumers and merchants. This fintech company was started back in 2005 in Stockholm, Sweden, by Sebastian Siemiatkowski, Niklas Adalberth, and Victor Jacobson. Klarna primarily offers "Buy now, pay later" services. In this service, the customers are allowed to pay the full cost of the service in installments over time. Their target audience comprises individuals who can afford the products although not all at once.

These successful startup partners with various online retailers, which enables them to shop and choose from flexible payment options. The success of this organization can be attributed to several factors, such as a user-friendly experience, transparent and flexible payments, along with their focus on security.

With over five thousand employees, Klarna is considered the second most valuable fintech unicorn globally in Europe. From its humble beginnings, Klarna has come a long way to stand where it is now, and they are slowly achieving its goal of making the shopping and payment process more convenient for customers. Their aim of supporting merchants by increasing conversion rates is getting closer with each passing day.

This thriving startup has expanded its presence to the following countries:

Sweden
United States
United Kingdom
Germany
Australia
Norway
Finland
Denmark
Australia
Netherlands

Milestones

Founded in Stockholm in 2005
Launched its first service that allows customers to make online purchases and pay for them later in 2007
Expanded its service beyond Sweden and entered the Norwegian market in 2010
Expanded its service and entered the Finnish market in 2011
Launched its "Buy Now Pay Later" service in 2012
Entered the Danish Market in 2014
In 2014, Klarna entered the German market
Klarna launched its operations in the USA in 2017
In 2018, Klarna's market reached the UK
Klarna reached over 60 Million active users in 2019
Raised $650 Million in funding
Valuation rose over $45 Billion in 2021

Notable Products

Klarna Shopping App and Browser Extension
Pay Now
Pay in 4
Pay in 30 days
Pay over time
Klarna Card

Klarna slide image.PNG

Revolut

Revoult image.PNG

Revolut is a UK-based fintech company founded by Nikolay Stronsky and Vlad Yatensko in 2015. This company offers a wide range of financial services through digital platforms, and since its establishment, it has quickly garnered global recognition. With its user-friendly app and modern approach to banking, it would not be an understatement to say that Revolut has changed the banking landscape.

Some of the services offered by Revoult include currency exchange, a platform for stock and cryptocurrency trading, and a money transfer service. Additionally, Revolut also provides payment services and payroll management services.

Their achievements can be attributed to their dedication, optimal use of opportunities, and their relentless pursuit of their goal of creating a transparent and user-friendly platform for financial management. Revolut aims to empower individuals and organizations through greater control over their finances. Revolut's goal is well within reach, some of the countries where they have a presence include:

United Kingdom
European Union (France, Germany, Italy, Spain, Ireland, Poland, etc.)
United States
Australia
Canada
Singapore
Japan
Switzerland
Brazil

This company has also garnered many achievements and recognition for its new approach towards banking. The Financial Times of Europe recognized it as one of the fastest-growing companies in Europe.

Milestones

Founded in 2015
Reached one million registered users in 2017
In 2018, they extended their services to the United States
Achieved "Unicorn status" with a value of over $1 billion in 2019
Expanded their operations to Japan and Australia in 2020
Introduced crypto trading in 2020
Raised $800 Million in funding leading to a valuation of $33 billion in 2021
Obtained full baking license in Lithuania in 2021

Notable Products/ Services

Revolut Neobank
Currency Exchange
Stock and Cryptocurrency Trading
Money Transfer Service
Payment Service
Payroll Management

Revoult Slide Image.PNG

Checkout.com

Established in 2012 by Guillaume Pausaz, Checkout.com is an integrated global payment solution for businesses headquartered in London, UK. Together with the key personnel of Bradly Riss as COO, Paul Anthony as CTO, Michaels Kurkova as CFO, and James Booth as head of partnerships, Pausaz transformed checkout.com from a simple online payment gateway to one of the global leaders in global payment solutions. This payment gateway offers diverse products and services including fraud prevention, risk management, smart insights, and analysis, for businesses of all sizes.

The goal of checkout.com is to simplify the complexities of online payment and help businesses optimize their payment process. Through their exceptional global service, they have made significant progress toward their goals. They maintain a worldwide presence with multiple sites across the world, some of which are as follows:

Paris
Dubai
Singapore
Sydney
Berlin
San Francisco
Denver
São Paulo
Cape Town
Bangalore

Checkout.com’s accomplishments demonstrate why it ranks among the most successful startups in Europe's Fintech industry. As the third most valuable Fintech unicorn, it boasts a remarkable valuation of $15 billion in 2021.

Milestones

Founded in 2012
Launched its first payment gateway in 2013
Became a licensed and regulated payment institution in the UK in 2015
Expanded their services globally in 2016
Achieved growth with billions of dollars in transactions in 2017
Secured $230 Million in funding and achieved a company value of 2018
Launched its card-acquiring platform in 2019
Expanded its presence in the United States in 2020
Raised $450 Million in a series C funding round in 2021

Notable Products

Payment Gateway services
Automate Payments
Payouts with global coverage

Checkout Slide Image.PNG

Conclusion

Fintech is driven by technological advancements. Numerous startup companies strive to carve their niche, revolutionizing how we manage money. The successful profiles mentioned above are just a glimpse of Europe’s growing fintech ecosystem, inspiring us with their growth and innovation.

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