Financial technology, better known as fintech, is absolutely exploding around the world right now, with new businesses springing up doing everything from online lending to handling cryptocurrencies.
London has emerged as a capital of fintech in Europe but Nordic countries — Denmark, Sweden, Iceland, Norway, and Finland — also have a flourishing scene.
The region is already home to a so-called fintech "unicorn"— a startup worth over $1 billion — and small business banking startup Holvi, founded in Finland, was bought by Spanish banking giant BBVA back in March (for that reason, we've not included it on the list.)
We have rounded up the 16 most exciting fintech businesses from the region below.
16. Lendify — Swedish peer-to-peer lending platform
Based: Stockholm, Sweden.
Founded: 2014.
Raised: $3 million (£1.95 million).
What it does: Sweden's first peer-to-peer lending platform, focusing on consumer loans. The company launched to the public in April 2015 after a soft launching in September 2014. It recently raised €2 million (£1.43 million, $2.2 million) and loan applications worth SEK 400 million (£35 million) have been made since launch, according to its annual report.
15. Pleo — A "smart" company card linked to an app
Based: Copenhagen, Denmark.
Founded: 2015.
Raised: N/A.
What it does: Pleo provides a "smart" company credit card for employees to use that automatically captures receipts and categorizes spending. It is also linked to an app for both employers and staff so they can add notes and track spending. The startup won Pioneer of The Year award at the prestigious Pioneer tech festival in Vienna and has launched a beta trial of the product with 500 companies, representing over 10,000 staff.
14. Lendino — Danish peer-to-peer lending platform
Based: Copenhagen, Denmark.
Founded: 2013.
Raised: N/A.
What it does: A Danish marketplace lending platform for institutional and individual investors, with a focus on lending to people or businesses in your local area. Well-known early stage London tech venture capital fund Passion Capital invested in the platform, although the amount was not disclosed. So far DKR 28 million (£3.1 million) has been lent over the platform.
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