🚀 Portugal Fintech Report 2024
A fascinating snapshot of how Portugal is emerging as a vibrant fintech hub in Europe !
Here's what caught my attention:
🏦 Portuguese fintech ecosystem shows remarkable resilience - 82% of fintechs headquartered locally, with 71% now attracting international investors ( up from 42% last year ). (p12) . Fintech ecosystem map (p60).
💡 The ecosystem raised an impressive €1.16B in total funding, with Insurtech ( 20% ) , Payments & Money Transfers (19%) , Lending and credit (19%) and Blockchain & Crypto ( 6%) .
🤝 Associations like Portugal Fintech are the primary growth drivers (36%), followed closely by investors (34%) - showing the power of community in building a successful ecosystem.
⚡ Key 2024 milestones: Launch of Digital Euro pilot, PSD3 adoption, first crypto investment fund, and exciting developments in AI with Bloomberg GPT and JP Morgan's LLM Suite.
🎯 Main challenge ? B2B sales cycles (49% cite this as their top hurdle), followed by access to capital (16%) and talent acquisition (13%)
Fascinating to see Portugal's transformation from a post-2008 crisis economy to an innovation powerhouse. With special startup laws, competitive tax regimes, and bridge position between Europe, America, and Africa - they're definitely playing their cards right.
What do you think will be Portugal's next big fintech breakthrough ?
Thanks to Mariana Gorjão Henriques and Portugal Fintech , Antonio Dias Martins , João Patrone , Katie Ramsey , Rodrigo Garcia de la Cruz
, Clelia Tosi and all the institutionnal contributors : Startup Portugal , KPMG Fintech House , Fintech Solutions , Morais Leitão , Banco BPI , Fidelidade , VISA, Techstars , Sitio Coworking Network , Universities and Academic Partners.
#Fintech #PortugalTech #Innovation #DigitalTransformation #Banking #StartupEcosystem #EuropeanFintech , Bilal El Kouche , Nicolas Pinto , Brice GROCHE , Sam Boboev , Victor Yaromin , Paulo Stamm de Lima , Pedro Azevedo
