What are the Major Fintechs in Amsterdam?

The fintech industry in The Netherlands is booming, and many startups are making their mark on the global stage. Adyen is a particularly outstanding example of a multinational success. In contrast, Mollie, Bux, and Bunq have drawn attention within the country yet still need to establish an international presence. Going beyond national boundaries can be tricky for a financial technology firm, since it involves getting to grips with different regulatory systems and earning the trust of its customers in order to expand. Fortunately, the European Union provides an easier path with harmonized regulations that make it simpler to broaden one's horizons. Mollie, a Payment Service Provider (PSP) comparable to Adyen, facilitates an easy integration of multiple payment methods into webstores of e-commerce retailers. Through partnership with Mollie, merchants get an opportunity to offer varied payment options to customers without having to sign individual contracts with individual providers. This became significantly crucial during the coronavirus crisis which saw a surge in e-commerce. Until then, Mollie was beneath the radar, but in 2022 it sky-rocketed to the category of unicorns with an impressive $800 million mega financing round, evaluating the company at a staggeringly high $6.5 billion. Since 2014, Bux has been working towards the vision of making investments more accessible to everyone. The company raised $60m in 2021, and currently has an estimated valuation of $320–480 million (Dealroom.com Apr 2021). Despite the presence of competitors such as Degiro, Bux is popular for its user-friendly interface, particularly towards those new to investing. Although the company has been expanding into other European countries, the Netherlands is still its primary market, taking into account the competition from platforms like Trade Republic, Scalable Capital, and Trading 212. Bunq, a Dutch neo-bank, makes it simple to establish bank accounts with local IBANs in different countries. While it might not have the comprehensive features of other neo-banks, its straightforwardness is a huge advantage. Bunq has achieved considerable success in its home market; in June, it attracted €100 million in equity funding to launch in more countries (valuation of €1.65 billion). In contrast to typical fintech models which are typically free to use, the app requires a monthly fee. To sum up, the numerous fintech firms located in Amsterdam demonstrate the liveliness of the city's environment. Even as their status in the international arena is developing, they stand out due to their novel methods of providing payment services, opening up investment opportunities, and streamlining banking services, thus placing them at the forefront of the worldwide fintech field. It is indeed a Lovely City.

Source: https://medium.com/@silvia.giovanna1/buzzz-main-fintechs-in-amsterdam-9f58a66807a4?source=rss------fintech-5