The DACH region, encompassing Germany, Austria and Switzerland, has been experiencing
significant growth in its fintech sector, driven by a combination of factors including technological
advancements, regulatory support, and increasing consumer demand for digital financial services.
This growth has elevated the region to the status of leading fintech hubs in Europe, with cities
including Berlin, Zurich and Hamburg, in particular, being acknowledged among the world’s top 30
influential fintech cities, a report by fintech research and analytics firm Findexable says.
However, despite the growth, the DACH region witnessed a notable decline in fintech funding in
2023. In Q2 2023, DACH recorded 64 fintech deals down 32% compared to the same period the
previous year, data from Fintech Global show. Investment in DACH-based fintech companies
amounted to US$376 million, representing a year-on-year (YoY) decrease of 56%.
In spite of the challenges, the fintech sector in DACH managed to secure notable fintech venture
capital (VC) funding rounds in 2023. Some of the largest funding rounds secured by DACH fintech
startups last year, focusing on VC funding solely and excluding debt funding, include:
Scalable Capital – EUR 60 million, Series E extension, Raisin – EUR 60 million, Series E, Taurus –
US$65 million, Series B, Wefox – US$55 million, Series D, Solaris – EUR 38 million, Series F,
Upvest – EUR 30 million.
Source: https://fintechnews.ch/fintechgermany/dachs-biggest-fintech-vc-funding-rounds-of-2023/68989/
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