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Fintech in Stockholm
7 April 2016
Robin Teigland, Professor, SSE – [email protected]
Claire Ingram, PHD Candidate, SSE – [email protected]
Nicholas Wesley-James, MSc Candidate, SSE – [email protected]
1
Highlights from last years report
2
531.9m USD Invested in Stockholm Fintech companies over 2010-
2014
18.7% Of total EU Fintech funding invested in Stockholm
companies over 2010-2014
7.7% Of total EU Fintech deals involved Stockholm
companies over 2010-2014
Stockholm’s Path to Fintech Success
3
Over the past year
4
Stockholm Fintechs moving in on traditional bank territory
5 Inspiration from CB Insights, SEB base webpage slightly modified to make more room
137.7m USD in funding to Stockholm Fintech Companies in 2015
66.6m USD Intel, Zouk Capital,
Creandum, Dawn Capital, Index Ventures, MCI Capital, Northzone
15.0m USD Accel, Creandum, GP
Bullhound, Martin Wattin
10.0m USD Northzone, White
Star Capital
1.9m USD Undisclosed
1.4m USD Northzone,
Undisclosed Angels
0.6m USD Peter Gyllenhammar
0.6m USD NFT Ventures
0.5m USD Andreas Bonnier
0.7m USD Crowdfunding,
Techstars
Undisclosed Undisclosed Aggregate Media
Undisclosed NFT Ventures
Undisclosed NFT Ventures
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38.0m USD Kinnevik, LeapFrog
0.7m USD NFT Ventures
0.5m USD Karl Johan Persson
1.2m USD Staffan Persson, Thord
Wilkne
Undisclosed NFT Ventures
Continued Strong Investments in Stockholm Fintech Companies
7 2015 estimate based on 2014 growth rates.
m USD
658.5m USD Invested over the past 5 years
>14bn SEK Estimated 2015 Revenue for Stockholm Fintechs
>5800 Estimated 2015 Employment for Stockholm Fintechs
181,6
55,4
17,6
266,2
137,7
2011 2012 2013 2014 2015
Investments in Stockholm Fintech Companies
Two payments rock stars paving the way
8 Description and total funding taken from Crunchbase
Klarna provides e-commerce payment solutions for merchants and shoppers.
Founded: 2005 2014 Employees: 1 017 2014 Revenue: 2 200m SEK Disclosed funding to date: 291.3m USD
iZettle, a leading mobile payments company, offers small businesses portable point of sale
solutions and free sales overview tools.
Founded: 2010 2014 Employees: 167 2014 Revenue: 190m SEK Disclosed funding to date: 244.0m USD
Who invests in Stockholm Fintech Companies?
9
Stockholm Fintech at a glance
Stockholm hits 100 Fintech companies in 2015
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0
10
20
30
40
50
60
70
80
90
100
2015201420132012201120102009
# o
f C
om
pan
ies
FinTech Companies in Stockholm by Segment
Payments
Other FinTech
Lending
Trading and Banking Tech
Wealth Management
Crypto Currency
Crowdfunding
Acquired companies included in these totals
12
+
Implication of the Payment Services Directive
• Payment services directives 2 passed on January 12
• Must be included in domestic legislation in 2 years
• Among other things, requires that banks open up, operate as APIs
• Intention is to improve consumer experience
• Some precedent (e.g. Tink), but no longer discretionary
• What does this mean for FinTech?
13
Questions?
14 Image credit investstockholm.com
Acknowledgements Björn Bergstrom, Industrifonden, for help identifying companies Stockholm Community, for helping crowdsource companies
