06.05.2015

Fintech startups prepare to be the stars of 2015

Photo | BarcelonaDigital

The health of Spanish tech startups couldn’t be better. At least, this is what the data shows — that the investments received by these startups so far in 2015 already exceeds the amount received in the same period last year.

The report published by Venture Watch reveals that January was a good month for these startups, which received investments totaling more than 109 million euros. This figure is almost triple what they had received in January of 2014 — so there is no doubt that the Spanish technology sector is starting the year out on the right foot.

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Chart: Venture Watch

The origin of this 109 million euros in investment is also different from last year: though risk capital continues to be the main source of investment, its importance has decreased slightly. While at the beginning of 2014, over 60% of the investment received by Spanish technology startups came from risk capital, the percentage has not even reached 50% in the same period this year.

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Chart: Venture Watch

The report by Venture Watch also shows which startups in the technology sector received the most investment in January, and there is no room for doubt: the big winner is FinTech.

peerTransfer y Digital Origin are the leaders of Spanish FinTech in 2015

Based in financial services, two startups are primarily responsible for this success — at least in Spain´s FinTech sector — peerTransfer and Digital Origin.

The first is peerTransfer — the leading platform for payments of tuition and fees in the education sector. It was started when its founder, Iker Marcaide, studied at the Massachusetts Institute of Technology (MIT) and watched as his tuition payments disappeared because of bureaucracy in the banking sector.

In response, Marcaide created the payment platform, now the Spanish fintech startup that has received the most investment in the first trimester of 2015.

Meanwhile, Digital Origin is a FinTech startup specializing in providing microcredit and financial products through its network, and helping its clients to reschedule payments. The startup began the year by receiving 15 million euros of investment — which, combined with the 17 received by peerTransfer, clearly demonstrate that 2015 will be a good year for the FinTech sector in Spain.

Despite the growing importance of Spanish Fintech companies, we should note that the main investment round so far in 2015 was won by Wallapop. The app, which facilitates the purchase of second hand goods, raised $40 million from Insight Venture Partners, ranking first among Spanish startups in the first quarter.