INVESTMENTS IN THE FINTECH INDUSTRY IN GERMANY FOR THE FIRST TIME EXCEEDED $1 BILLION

Investments in German FINTECH companies last year reached a record value of $ 1.1 billion, according to a study by Barkow Consulting. Last year was marked by large deals for German startups, experts say. This will allow the FINTECH sector to compete even better with traditional banks, Bloomberg writes.

Since 2015, the volume of investments has increased several times, even taking into account the fact that in 2018 there were 10% fewer deals compared to 2017.

Barkow experts noted that the average size of the deal increased last year. Thus, the company N26 managed to attract $ 130 million. In November Deposit Solutions GmbH received $100 million from investors.

At the end of last year, the German blockchain startup Bitwala created the first cryptocurrency blockchain bank in Germany. Meanwhile, a significant part of the representatives of large business in Germany considers blockchain technology a real revolution.