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Fintech in StockholmProfessor Robin Teigland
Nick Westley-James and Claire Ingram Stockholm School of Economicswww.slideshare.net/eteigland
[email protected] @RobinTeigland
April 2016
2
Over the past year
3
2015 2014 2013 2012 2011
137.7
266.2
17.655.4
181.6
Continued strong investment in Stockholm Fintech companies
USD mln
USD 658.5 mlnInvested over past 5 years
Who invests in Stockholm Fintech?
4
5
Stockholm hits 100 Fintech companies
20152014201320122011201020090
10
20
30
40
50
60
70
80
90
100
Stockholm Fintech companies by segment
PaymentsOther FinTechLendingTrading and Banking TechWealth ManagementCrypto CurrencyCrowdfunding
# of
Com
pani
es
Acquired companies included in these totals
Steady growth in revenue and employees
2010 2011 2012 2013 2014 2015 (est)0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
Revenue Employees
Reve
nue
(bn
SEK)
2010, 2011 from previous Fintech report. 2012-2014 from largestcompanies.se, retriever databases. 2015 est. using 2014 growth rate
2015>14bn SEK Revenue >5800 Employees
7
Stockholm’s path to Fintech success
8
Moving in on traditional bank territory
Inspiration from CB Insights, SEB base webpage slightly modified to make more room
9
+
The future of blockchains and bitcoin?
15.0m USDAccel, Creandum,
GP Bullhound, Martin Wattin
10.0m USDNorthzone, White Star Capital
0.7m USDCrowdfunding, Techstars
>1bln USD invested
11
EU Payment Services Directive (PSD)
• Payment Services Directive 2 (PSD2) passed on January 12, 2016• Must be included in domestic legislation in 2 years• Among other things, requires that banks open up, through APIs• Intention is to improve consumer experience• Some precedent (e.g., Tink), but no longer discretionary• What does this mean for FinTech?
12
Questions?
Image credit investstockholm.com
Acknowledgements
Björn Bergström, Industrifonden, for help identifying companiesStockholm Community, for help crowdsourcing companies
13
Highlights from last year’s report
531.9m USDInvested 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
14
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 USDAccel, Creandum, GP
Bullhound, Martin Wattin
10.0m USDNorthzone, White
Star Capital
1.9m USDUndisclosed
1.4m USDNorthzone,
Undisclosed Angels
0.6m USDPeter Gyllenhammar
0.6m USDNFT Ventures
0.5m USDAndreas Bonnier
0.7m USDCrowdfunding,
Techstars
Undisclosed UndisclosedAggregate Media
UndisclosedNFT Ventures
UndisclosedNFT Ventures
38.0m USDKinnevik, LeapFrog
0.7m USDNFT Ventures
0.5m USD Karl Johan Persson
1.2m USDStaffan Persson, Thord
Wilkne
UndisclosedNFT Ventures
15
Two payments rock stars paving the way
Description and total funding taken from Crunchbase
Klarna provides e-commerce payment solutions for merchants and shoppers.
Founded: 20052014 Employees: 1 0172014 Revenue: 2 200m SEKDisclosed 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: 20102014 Employees: 1672014 Revenue: 190m SEKDisclosed funding to date: 244.0m USD
2015 private investments in Stockholm Fintech companies totaled 137.7m USD, 5 year total of 658.5m USD
Company Segment 2015 Investment (m USD)
iZettle Payments 66.6Bimamobile Other FinTech 38.0KNC Miner Crypto Currency 15.0
Cryex Crypto Currency 10.0Tessin Crowdfunding 1.9
Qapital Wealth Management 1.4
ET Network Payments 1.2
Mr Shoe Box Other FinTech 0.7Safello Crypto Currency 0.7Capcito Lending 0.6
Pensionskraft Wealth Management 0.6Fidesmo Crypto Currency 0.5
TradeVenue Wealth Management 0.5Depos Payments Not Disclosed
Barnpengar Wealth Management Not DisclosedConsector Lending Not Disclosed
Leaseonline Lending Not DisclosedNordkap Other FinTech Not Disclosed
2015 2014 2013 2012 2011
137.7
266.2
17.655.4
181.6
Fintech companies by segment
Segment 2009 2010 2011 2012 2013 2014 2015Crowdfunding 0 1 2 3 3 7 7
Crypto Currency 0 0 0 3 5 9 10
Wealth Management 2 2 2 4 5 9 10
Trading and Banking Tech 14 15 15 15 15 15 16
Lending 5 6 6 8 9 14 16
Other FinTech 4 7 9 12 13 17 18
Payments 10 12 16 18 20 22 23
Total 35 43 50 63 70 93 100
Fintech companies in Stockholm existing per year2015201420132012201120102009
0102030405060708090100
PaymentsOther FinTechLendingTrading and Banking TechWealth ManagementCrypto CurrencyCrowdfunding
# of
Com
pani
es
Stockholm Fintech at a glance
Fintech companies founded in 2014/2015Company Founding Year Description Segment
Digital Portfolio Control 2015 Software to monitor, report and control institutional asset portfolios. Trading and Banking TechInkassogram 2015 Simplifies debtor and creditor relationship Lending
Lenovium 2015 Mortgage maturity optimization service Lending
Primepilot 2015 AI based investing advice Wealth Management
XBT Provider 2015XBT Provider manages Bitcoin Tracker One and Bitcoin Tracker Euro. With these
instruments anyone can invest in Bitcoin as ETN:s, exchange-traded notes, from anywhere in the world
Crypto Currency
ZignSec 2015ZignSec is Scandinavia´s most modern verification platform. ZignSec help bank customers (Merchants) to verify users through a series of look-ups in real-time; Nordic eID, IP-checks, device geolocation, device usage, blacklists, credit checks, AML checks and much more.
Other FinTech
Zimpler 2015 Mobile gaming focused payment service provider PaymentsCryex 2014 Institutional financial trading platform Crypto Currency
Capcito 2014 Short term loans against receivables Lending
Tessin Nordic 2014 Property Crowdfunding Crowdfunding
TradeVenue 2014 Social meeting place for savers Wealth ManagementPensionskraft 2014 Pension comparison and monitoring Wealth ManagementBarnpengar 2014 Personal finance tool for children Wealth ManagementConsector 2014 Personal loan comparison services Lending
Leaseonline 2014 Online car leasing service Lending
Billecta 2014 Billing software Other FinTechBitrefill 2014 Recharge your mobile phone with bitcoin Crypto Currency
Chromaway 2014 Enterprise platform for coloured bitcoins Crypto CurrencyCo-Owning 2014 Crowdfunding for real-estate investments Crowdfunding
Leasify 2014 Business lease managagement system Other FinTechlendify 2014 Loans between private individuals Lending
Monetise 2014 Short term loans against receivables LendingNOWO 2014 Credit card with automatic retirement savings Other FinTech
Pensionera (Pensionera förmedling i Sverige AB) 2014 Pension comparison and monitoring Wealth Management
Pepins (Pepins Nordic AB) 2014 Equity crowdfunding platform CrowdfundingPrello 2014 mobile POS Payments
Qliro AB 2014 Online payment solution provider PaymentsSciety 2014 Health and Lifescience business crowdfunding platform CrowdfundingSlipp 2014 Accounting solutions provider Other FinTech
Strawpay 2014 Developing a highly scalable open transaction protocol Crypto Currency