Europe and Israel’s Fintech Founder Factories
Despite the tougher macroeconomic environment seen over the last few years and fintech funding reverting to a new normal, the wealth of talent and ambition of Europe and Israel’s fintech founders remains undiminished. New startups continue to be created, built on the strong foundations laid by the region’s fintech unicorns as former employees become founders.
At a glance
625
The number of tech-enabled startups founded by former fintech unicorn employees in Europe and Israel
35%
The percentage of startups that are also fintechs as employees apply their industry expertise to new ventures
61%
The percentage of companies founded by former fintech unicorn employees that are founded in the same city as the unicorn, resulting in thriving tech hubs being built up around them
Insights
It’s clear that the flywheel of talent from fintech unicorns is now spinning. The region’s fintech founder factories aren’t just producing the next wave of founders, but also a strong network of seasoned operators around them who have a wealth of product, engineering and scaling experience. This knowledge and experience is vital to building the future generation of fintech success stories, while growing local ecosystems across the whole continent. We’re looking forward to seeing more durable yet disruptive startups bringing innovation to many different segments and categories across the $10T+ financial service industry.
Key takeaways
- More than half (53%) of the new wave of startups have gone on to secure $1M+ private funding
- London is the top fintech founder factory hub, with former employees of the city’s 24 fintech unicorns creating 234 startups. 68% were founded in London
- Klarna, Revolut, Wise, N26 and Monzo are the region’s top fintech founder factories