The number of deals in European fintech rose 11% to 179 in 2016, compared to a 1% global drop (according CBInsights). Germany and the UK dominated, staking claim to nine out of the 10 biggest European fintech deals.
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European fintech deals hit 5-year high in 2016
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Of the 22 fintech unicorns globally, four are based in Europe, including the $2.3bn-valued Dutch payments processor Adyen, whose transaction volume has just hit $90bn, and Funding Circle, which facilitated more than £1.1bn of loans to small businesses last year. “Europe has had a competitive advantage compared with the US in fintech. In the US, everything is regulated state by state, but here, if you have a European passport it’s fantastic for a fintech,” said Niklas Zennstrom, founder of Skype and European venture capital company Atomico.
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