Amazon, Google, Meta, Netflix. The 2022 economic downturn, powered by chain supply disruption, looming inflation, pandemic consequences and the war in Ukraine has severely impacted the tech sector.
However, there is one field that can recover quicker than the rest of its peers. Fintechs remain uncut diamonds for investors. The vast majority of the household names we look after today were only built last decade, such as Brex, Checkout.com, Klarna, N26, Revolut and Stripe. Moreover, less than 5% of fintechs are already in the public markets for financial services.
Looking to shed light on the enormous opportunities for investors, Accel has organized a ranking of the top 100 most promising fintech in Europe, the Middle East and Africa. The list is made of companies set to become the next generation of category leaders, based on momentum, market, product offer and team. They only included enterprises founded after 2015 that received over $10M in funding and are valued at less than $1B.
Friday Finance: a Financial Software Rising Star
Every new fintech comes with a mission to build solutions for an underserved part of the market. Some want to revolutionize banking or cash flow management, some are all-in for payment solutions, and others want to disrupt the way accounting is made. We at Friday Finance acknowledge those but opt for a different approach.
From the start, our mission has been to simplify financial management. For that, we chose to build a complete finance operations software. We understand that niche-specific tools are excellent for the niche-specific problems they pose to solve, period. But in 2023, this is not enough anymore.
With the possibility of turbulent times ahead, executives realize fast that having a packed tech stack is a luxury they should not afford at this moment. When it happens, it is a pleasant surprise to discover an alternative with an integrated banking hub, cash flow manager, forecasting device, accounting organizer and payment solution in one place.
What’s Next to the Financial Market
Accel also catalogued a list of items they were excited about in the future of fintech.
- Rise of Open Banking as a catalyzer for a new payment structure in Europe
- Proliferation of embedded products by fintechs and non-fintechs, powered by access to historical banking data
- Next-generation payments automating previously manual and time-consuming workflows
- Integration of SME payments with accounting processes, approval flows and cash flow needs
- Crypto adoption attracting high calibre players
- Fintech foundations laid in Africa and the Middle East
Apart from focusing on Europe as our core market, Friday Finance is proudly capable of offering four of the five possible innovations yet to be implemented by the broader scene – crypto is still pending. If you want to learn more about our product, take a virtual tour or book a call with one of our representatives.
