Client Solutions Manager
It is estimated that startups in the Netherlands raised an impressive $1.6 billion in venture capital in 2020 according to PitchBook, this represents an increase of 38% compared to the previous year suggesting the market for new and innovative businesses in this market is a healthy one.
The country is home to a number of established and successful FinTech startups that are recognised and courted by investors all across the world. As the FinTech sector in the Netherlands continues to grow we’ve put together our pick of the top unicorns and fast-growth startups to watch out for. Our list takes into account funding rounds, company valuation and speed of growth.
Founded in 2004, Amsterdam based Mollie is one of the fastest growing payment processors in the EU. The company supports the growth of merchants of all sizes by providing an easy-to-implement payment integration for websites and apps, which enables different local payments methods through a payments API.
Mollie completed their Series C funding round in June 2021 raising a cool $800m, which led to a company valuation of $6.5bn. The valuation confirms the company as a FinTech unicorn and according to Deal Room and CB Insights Mollie are now ranked the 3rd most valuable privately owned FinTech in the EU, edged out only by the likes of Klarna and Check-out.
Boasting clients such as Netflix and Airbnb, Adyen is another FinTech titan from the Netherlands with unicorn status. Founded in 2006, Adyen specialises in e-commerce, point of sale and mobile to connect merchants to a wide variety of payment methods such as Visa and MasterCard. Their platform is designed to take care of the full payment process integrating gateway, risk management, processing, acquiring, and settlement of payments.
Based in Amsterdam but active in over 200 countries with 24 offices globally, Adyen has received over $266m in funding to date.
An independent challenger bank in the EU, bunq took an unconventional approach to early funding when they were founded in 2012, with founder and CEO Ali Niknam investing a whopping €98.7m of his own money to develop the company.
Positioning themselves as ‘the bank of the free’, they are the only bank in the world that lets you choose how your money is invested. Their own investment is notable too, bunq raised €193m in their Series A funding round which is the largest ever raised by an EU FinTech.
bunq currently operates in 30 markets and with a valuation of €1.6bn they are firmly established as a FinTech unicorn.
Coined Europe’s “Robinhood” BUX is the fastest growing neo-broker in the EU with over 500,000 users to date, having been founded in 2014. The platform allows customers to buy and sell shares and exchange traded funds without paying commission, their BUX Crypto app and BUX X Solution also allows users to invest in cryptocurrency and CFDs.
The company's latest round of funding secured €67m through Series C with BUX seeing six-fold-growth in users since 2020.
Founded in 2009 and based in Amsterdam, Ohpen exists to help banks rid themselves of legacy systems and processes. Their cloud-based SaaS core banking platform offers a wide range of products across banking and borrowing including investments, savings, pensions, mortgages and loans.
Based in Amsterdam and with offices across key European locations including London and Barcelona Ohpen’s most recent funding raised €30m from Deutsche Bank in the Netherlands.
Fourthline was founded in 2017 and has quickly become one of Europe’s fastest-growing FinTech companies in the digital KYC (know your customer) space. They provide best-in-class fraud detection and verify millions of identities for banks and FinTechs, including Allianz.
Based in Amsterdam and with offices in London and Barcelona, Fourthline have raised over $20m across two funding rounds and have been shortlisted for numerous industry awards.
Another fast growing FinTech, Terrapay have developed a mobile-first international payment network that has rapidly propelled them to become a leading global partner to banks, mobile wallets, money transfer operators, merchants and financial institutions alike. Terrapay recently partnered with Sentinels to further advance transaction monitoring and screening capabilities.
Founded in 2014 and based in Amsterdam, the company has raised a total of $37.7m over three funding rounds.
Founded in 2019, FINOM is headquartered in Amsterdam with a presence across key European markets. FINOM support early-stage businesses and SMEs with their mobile-first platform which provides banking, financial management and accounting solutions all in one place.
To date, FINOM has raised $19m over multiple rounds of funding and are led by the team previously responsible to Modulbank, a B2B online bank in Russia.
Amsterdam based Factris recognise the importance of cash flow to business growth and use technology to support SMEs with factoring, invoice financing and debt management.
Factris have raised €63m since being founded in 2017 and have been honored with multiple awards such as the 2021 Business Excellence Award from Acquisition International Magazine.
A leading full service blockchain technology company, Bitfury aims to make the world more secure and trusted by using cutting-edge emerging technologies such as artificial intelligence, blockchain, bitcoin and high-performance computing.
Founded in 2011 Bitfury are based out of Amsterdam and have raised over $170m across 6 funding rounds.
Is your company next?
This is just a small selection of high growth businesses in the Netherlands, and with new companies being founded every day your business could be next to make the list.
Starting a business is super exciting, but it can be risky too, especially in the early stages. We believe insurers must understand emerging technologies, so as well as expertise in professional and financial services, we’re ahead of risk in fintech, medtech, crypto and DLT.
Wherever you are with your business, and wherever you’re going, we offer innovative covers that give you the right protection for your business. With offices in London and Rotterdam we maintain accounts around the globe. If you're in the market for it, check out what we can do for you.
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This content has been created for general information purposes and should not be taken as formal advice. Read our full disclaimer.
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- 23 November 20221 minute read
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