New record: Fintech raises EUR 1.1 billion in Germany
Study shows German fintech capability is improving rapidly
Berlin (GTAI) - Investment in Fintech in Germany recorded a staggering 55% year on year growth in 2018, according to results in a study released on Tuesday. Düsseldorf based Barkow Consulting's study, which noted a boosting Q4 of €353bn alone, said that the value of German Fintech investments in 2018 was €1.1bn, the first time the billion-Euro mark had been reached.
Interestingly, and perhaps reflecting a level of maturity within the German Fintech start-up scene, the largest ten deals accounted for more than half of the total money invested, while the actual number of investments fell to 127, a drop of ten per cent on 2017.
The year on year percentage growth in investment volume was the fastest growth rate in three years. “This is an interesting set of statistics, which speaks volumes for Germany’s ability to foster successful start-ups,” said Robert Hermann, CEO of Federal economic development agency Germany Trade & Invest (GTAI). “These are not just investments from venture capitalists, these are now strategic investments, which incline to more stable and robust industries with long-term prospects. For Germany to have fostered such a rapidly-growing and healthy industry in comparatively turbulent economic times is a testament to the ability of the country to incubate start-ups from concept to maturity correctly and sustainably.”