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In 2024, the European fintech sector experienced a mix of growth and challenges, with a total of €2.72 billion raised across 41 funding rounds. The average funding per round stood at €11.8 million, according to industry reports.

The year began on a promising note, with 29 funding rounds in the first half, but the second half saw a slowdown due to high interest rates and geopolitical uncertainty. Despite this, April proved to be a busy month, with nine fintechs receiving investments, the most in a single month.

One of the standout events of the year was the megadeal secured by SumUp, which raised a staggering €1.5 billion in May, the largest funding round of the year. Other notable recipients included Iwoca (€175 million), Solaris (€96 million), and Pliant (€141 million across two rounds).

However, the year was not without its setbacks. Eight fintechs, including ExpressSteuer, Dock Financial, Mobyfin, Clink, Brygge, Oneclimate, and Enfore, faced insolvency. Oneclimate had to close its doors in September following the withdrawal of financing by Viessmann, while Brygge attempted to save itself by converting to a non-profit but disappeared from the market when its application was rejected.

The API banking sector raised a total of €347 million in three funding rounds, with Pliant and Solaris as the main beneficiaries. The credit sector also saw five funding rounds, totalling €219.6 million.

Payment startups received over €1.7 billion from investors, with SumUp's megadeal being the largest contributor. The trading, investing, and crypto sector raised a total of €32.6 million.

Notable fintech startups that made their debut or returned to the market in the second half of 2024 include Fideus, a Berlin-based AI-driven platform digitizing tax advisory collaboration, which closed a Pre-Seed financing round of €900,000. Leipzig-based Onsai also secured over €1 million in growth capital. The fintech venture builder 0TO9 established a Berlin hub in 2025 under Jessica Holzbach to accelerate financial innovation startups.

The sale of Creditshelf to Swiss competitor Teylor in April made Teylor the market leader for loans to SMEs. Jitpay, which was insolvent, was acquired by Volksbank Brawo.

Despite the strong showing in Europe, the global fintech funding decreased to €33.7 billion in 2024, the lowest in seven years, according to a CB Insights study. Three fintechs with unknown funding amounts are not included in the total raised in 2024, and some discrepancies may arise from currency conversion.

For those interested, an infographic of the fintech funding in 2024 is available for high-resolution download. The average funding round volume for fintechs in 2024 increased to four million US dollars.

In conclusion, 2024 was a year of upheaval and resilience for the European fintech sector. Despite the challenges, the sector continued to attract significant investments, and new players entered the market. As we move forward, it will be interesting to see how these trends continue to evolve.