(06.04.2022) In the last year, the number of Swiss companies active in financial technology (fintech) has decreased. According to the "FinTech Study 2022" report by the Lucerne University of Applied Sciences and Arts, the sector had 21 fewer companies in 2021 than in 2020. That's a decline of about 5%.
Since 2015, the number of companies active in Fintech had consistently increased. Yet, between 2020 and 2021, companies active in this sector went down from 405 to 384.
Despite the mixed results for active companies, there remain other very positive indicators for the field. For example, both the median number of employees and average total funding for Fintech companies have increased in the past year. And this comes after 2020 when these numbers were stagnant or even decreased. Venture capital activity reached a record level in 2021. The number of financing rounds rose from 61 to 87 in one year, while the volume invested increased from CHF 259 million to CHF 446 million.
Analytics, artificial intelligence and big data are the drivers of Swiss Fintechs. The number of companies specializing in these fields is increasing, while other specialties are declining.
In terms of market opportunities, the Swiss fintech sector initially focused on Swiss business customers, such as banks or other financial service providers. However, the local market remains limited and growth prospects limit these firms' ambitions. Thus, a majority of companies have turned to international markets. Foreign markets are therefore a real challenge for the country's new start-ups.
Last modification 06.04.2022
