H2 2022 FINTECH WRAP-UP 🌯
Discover Fintech Wrap-Up, a newsletter about all things Fintech & Insurtech in Europe, by BlackFin Tech.
Welcome back BlackFin Tech readers!
The past year has been intense for all the industry; we hope 2023 will be brighter. At BlackFin Tech, we think a more rational market is for the benefit of the whole ecosystem and we are excited to keep on shaping Fintech’s history with all of you ✨
Few weeks ago, we asked you to guess what would drive major change in Fintech in 2023.
More than 50% of respondents chose Climate tech as 2023’s major trend. And we couldn’t be more aligned here: let’s shape a greener Fintech landscape!
📊 WHAT SHAPED EUROPEAN FINTECH IN 2022
Without much surprise, fintech industry slowed down compared to 2021, which resulted in fewer deals and less money raised in 2022.
As public markets faltered in early 2022, so did the private sector, with roughly a 6-month delay
Average deal size remains stable for early-to-mid stage fintech, while late stage gets sliced by 30%
UK is still the main European hub with €7bn raised in ca 300 deals which is still a big drop vs 2021. On a more positive note, French and Swedish markets have shown more resiliency with a small decrease in deal activity (-10% for FR and -20% for SE). Interesting to note also that France stole away the 2nd place on the podium to Germany
Banking technology remains the main category, followed by Insurtech and Investment Banking which are picking up compared to last year
What are 2022’s biggest rounds?
35 mega deals have been closed this year (i.e. above €100M), it’s 45% less than in 2021. Unicorn minting is clearly at risk. Mostly composed of Payments fintech and Banktech, the top 10 deals raised no less than €4.3Bn
🍳 WHAT WE SHAPED AT BLACKFIN TECH
Portfolio news
🇫🇷🌱 Epsor became certified “Entreprise à mission” (mission-driven company).
🇩🇪🏅 Hawk:AI won the coveted Fintech Germany Award in the “Early Stage” category in Berlin.
🇫🇷✅ Descartes Underwriting obtained an insurer license from French regulator ACPR. The company is now allowed to offer its own Insurance products.
🇪🇸👑 Ruth Puente, COO of Bdeo, has been nominated as Top Women Insurtech Leader. For our French reader, you can learn on Maddyness about how Bdeo, by automating inspections, is revolutionizing the diagnosis of fleet vehicles.
🇫🇷💎 Agicap unveiled its brand new visual identity, in order to better match its motto: Simplicity / Reliability / Efficiency.
🇩🇪🇫🇷👊 French insurance brokers, brace yourselves: in March 2023, German Finlex arrives in France with its a focus on financial lines products.
Team news
🇩🇪🙌 Welcome to Nathalie who joined Romain in Frankfurt as Investment Associate!
🇩🇪🔍 The German team is looking for its next 6-month intern. See the job offer.
🔮 Exclusive : our predictions for 2023 !
It’s both a tradition and a collective teamwork: with every new year come BlackFin Tech’s finest Fintech & Insurtech predictions.
1. Cyber insurance — 2023 the coming of age of the European market
2. Lasting turbulence for private, public, crypto market
3. B2C in the rear mirror, B2B/B2SME with us in the car
4. Climate tech’s: more money at play
5. “Ops I did it again” — The new passion of fintech: Ops teams
➡️ Check the full article here and discover the bonus prediction by ChatGPT 🤖
☕ RESHAPING FINANCE. TOGETHER.
2023 comes with its batch of Tech events - let’s meet there next semester:
In January: Nathalie will attend the 🇩🇪 Female Empowerment Summit and Loic will go to 🇬🇧 AML Tech Forum
In February: meet Nathalie at 🇩🇪 Plug & Play Munich Summit, Michele at the 🇸🇪 Sthlm Fintech Week and Gabrielle in 🇪🇸 Barcelona #4YFN
In March: Romain will attend the 🇨🇭 Start Summit, Gabrielle and Michele will go to 🇫🇷 Paris Blockchain Week Summit
In April, 3 events in 🇬🇧 London (Innovate Finance Global Summit with Michele, the Global Insurtech Summit with Loic and Pauline, the Altfi Festival of Finance with Loic), 1 event in 🇱🇻 Riga (Techchill with Michele)
In May: meet Romain and Nathalie at the 🇩🇪 HTGF Family Day or during the InsurTech Symposium, meet Michele in 🇪🇪 Latitude59, meet Julien and Gabrielle during 🇫🇷 Paris Fintech Forum
In June: Michele will attend 🇫🇮 Arctic15, Maxime, Pauline and Julien will go to 🇳🇱 Money2020, Gabrielle will be in 🇫🇷 Vivatech, Maxime and Régis will attend 🇳🇱 TheNextWeb Conference, Julien and Gabrielle will be in 🇪🇸 ITC DIA Europe