European startups are on the forefront of digital innovation when it comes to advances in banking and finance; in fact, Dow Jones VentureSource recently reported a record-breaking number of European venture capital investments in over a decade—within the first three months of 2014 alone.
Some of these fintech startups have already become household names in Italy, while others have just begun to expand their offerings. The following are 13 you need to be aware in 2018 and beyond.
It took ModeFinance over 6 years to be recognized as the first Italian agency to be able to rate banks. These days, the company bills itself as the first fintech credit rating agency in Europe. The startup has since expanded its services to include financial consulting and company creditworthiness evaluations.
This peer-to-peer (P2P) lending platform was designed with Italian small/medium businesses in mind, as these firms comprise the backbone of the country’s economy. The company provides a quick and easy online option for money lending .
Lendix provides online business lending to small businesses and SME in the range of € 30,000 to € 3,000,000. The company provides offers within 48 hours with the need of personal guarantor.
Hype is a digital bank that allows users to exchange digital money daily when using their smartphone for transactions. The solution charges no fees and offers tools for goal-setting and smart saving.
Neosurance is an online insurance offering that enables users to get coverage in 7 seconds—no paperwork required. The platform also provides insurers with a context-aware, AI-powered analysis engine for crafting hyper-targeted policies based on the customers’ profile, location, context, and behavior.
Most internet users have at some point clicked the “like” or “heart” button next to an inspiring image or new song from an unknown artist. With Paymeabit, users can now compensate creators just as easily with a small fraction of a bitcoin.
Moneyfarm recently made tech startup headlines when it acquired fintech chatbot service Ernest, positioning itself as one of the top investment platforms in Europe. The app is available for both iOS and Android devices.
Smartika is a P2P credit/lending platform now recognized by Banca d’Italia, Italy’s central bank. The company has so far processed over 5,000 loans for nearly 30 million euros since its founding.
GreenAddress’ mission is to make bitcoin transactions easier and safer. The company’s cryptocurrency wallet provides guaranteed privacy and pre-signed transactions for two-factor limits and protection.
Sardex is all about corporate bartering and sustainable business growth—using it, goods and services that would not have found space in traditional markets can be sold and bought. Last year it partnered with Innogest, Banca Sella, and Invitalia; today the company has expanded into almost every region of Italy. .
A couple of years ago, the founders of Soisy wanted to develop a solution for lending regular people money. The offering has since evolved into a social lending platform that allows lenders to invest in people and receive a guaranteed return.
Italy is one of the lower ranking countries in Europe when it comes to financial literacy; Oval Money’s goal is to change this by helping people become wiser when it comes to finance. The app offers income and spend monitoring tools as well as step-by-step guides for using/saving/investing money.
Piedmont-born Satispay offers a new way of paying/transferring money that features no commission for users and easy-to-use tools for businesses. Additionally, the app—available for iOS/Android as well as Windows—is quick and easy-to-use, requiring no sensitive information to get started.
As you can, Italian players in the fintech arena are poised to go head-to-head with the best and brightest from Silicon Valley in 2018. Be sure to keep these innovators on your radar as they refine their offerings and expand into other markets.