Europe’s Next 10 Fintech Unicorns

Europe’s Next 10 Fintech Unicorns

by July 8, 2022

Sifted has released its ranking of this year’s top 100 fastest-growing business-to-business (B2B) soonicorns poised to join the ranks of Europe’s US$1 billion-plus startups.

Among this year’s ranking, 37 are B2B fintech companies, making the category the second most represented segment. These companies include providers offering short-term loans for businesses, open banking platforms, and corporate expense management solutions.

According to the ranking, the 10 European B2B fintech companies most likely to reach unicorn status in the near future are:


Sift

Primer (UK)

Primer

Primer is a no-code automation platform for payments and commerce, enabling companies to unify their entire payment and commerce stack and build seamless, sophisticated and end-to-end payment flows.

The company provides a drag-and-drop framework that lets merchants easily sell online, allowing for the integration of some 45 payment solutions including Stripe, Apple Pay, Adyen and Braintree.

Launched in 2020, Primer operates in over 30 countries, serving merchants across Asia-Pacific (APAC), Europe and the US. The startup has raised US$74 million in funding, and is valued at US$425 million.

Yapily (UK)

Yapily

Yapily offers a single, unified open banking API that allows businesses to connect to thousands of banks across Europe, access financial data and initiate payments. The company provides open banking solutions for industry leaders including American Express, Intuit Quickbooks, Moneyfarm, Volt, Vivid and BUX.

Yapily is currently pursuing an aggressive expansion plan, expanding recently into the Baltics and Poland, with Portugal being next. Earlier this year, the startup unveiled plans to acquire German rival finAPI, strengthening its presence in one of Europe’s largest markets.

Yapily has raised US$69 million in funding and has an estimated valuation of US$255 million, according to Sifted.

Sylvera (UK)

Sylvera

Sylvera is a carbon intelligence platform that helps corporate sustainability leaders, carbon traders and governments evaluate and invest in high quality carbon credits.

The company leverages proprietary data and machine learning (ML) technology to produce the most comprehensive and accessible insights on carbon projects, and delivers independent, in-depth and up-to-date project reports and market intelligence through its online platform and API.

Sylvera also partners with leading researchers at UCLA, NASA’s Jet Propulsion Lab, and University College London, and has raised US$39.5 million in funding. The startup has an estimated valuation of US$163 million, according to Sifted.

Codat (UK)

Codat

London-headquartered Codat provides a universal API for small business data. The company provides real-time connectivity to enable software providers and financial institutions to build integrated products for their business customers. Use cases include automatic reconciliation, business dashboarding, and loan decisioning.

Codat claims over 200 clients, including many of the world’s largest banks as well as rapidly growing fintechs such as Brex, Jeeves, Pipe and Clover.

Founded in 2017, Codat has raised over US$160 million in funding and is valued at US$825 million, Codat co-founder and CEO Pete Lord said in an interview last month.

Billie (Germany)

Billie

Billie offers buy now, pay later (BNPL) payment methods for B2B companies, providing solutions from liquidity to automation to digital payments for companies large and small, whether online stores or small and medium-sized enterprises (SMEs).

Billie uses proprietary, machine-learning-supported risk models, fully digitized processes and a highly scalable tech platform to provide fast liquidity, automated workflows and access to modern payment solutions.

Founded in 2016 in Berlin, Billie has raised about US$150 million in funding and is valued at US$640 million, Matthias Knecht, co-founder and co-CEO of Billie, told Verdict in November 2021.

Moss (Germany)

Moss

Moss is a technology-enabled expense and financial management solution. With smart corporate credit cards, digital invoice management, and automated accounting, Moss allows companies to manage all of their spending easily and transparently.

The solution enables flexible issuing of virtual and physical credit cards, digital entry and approval of invoices, smooth processing and reimbursement of employee expenses, and reliable liquidity management.

Since its inception in 2019, Moss has issued more than 20,000 physical and virtual credit cards and processed over 250,000 transactions.

Moss has raised US$149 million in funding, and is valued at US$573 million.

Sunday (France)

Sunday

Sunday is a restaurant payment solution that aims to simplify the payment process for restaurant customers by enabling them to pay the bill in under 10 seconds using QR codes. The solution also allows customers to browse a restaurant’s menu, check their bills, leave tips and split their bills. Customer can pay using Apple Pay, Google Pay, American Express, Visa and Mastercard.

Since its launch, Sunday claims it has amassed more than 2 million users and over 5,000 restaurants signed globally representing an annual transaction volume of US$7 billion.

Sunday has raised US$124 million in funding, and is valued at an estimated US$500 million, according to Sifted.

Kevin. (Lithuania)

kevin

Founded in 2018 and headquartered in Vilnius, Kevin. is a fintech company that provides an account-to-account payment infrastructure to replace costly card transactions. The startup claims it has the broadest PSD2 bank API coverage in the European Economic Area (EEA).

Recently, Kevin. stepped into point-of-sale (POS) terminal payments in physical stores by introducing a NFC account-to-account payments solutions with a seamless user experience that is comparable to a card payment experience. The company claims more than 6,000 merchants in 12 markets in Europe.

Kevin. has raised US$77 million in funding, and has an estimated valuation of US$325 million, according to Sifted.

Yokoy (Switzerland)

Yokoy

Founded in 2019 and headquartered in Zurich, Yokoy is a spend management platform that combines expense management, supplier invoice management, as well as smart corporate cards and automates respective processes with the help of artificial intelligence (AI).

The solution integrates with 50+ corporate tools and the company claims more than 500 enterprise customers, including Bitpanda, On, and ASK Chemicals.

Yokoy has raised US$107 million in funding, and is valued at about US$500 million, a person familiar with the matter told CNBC in March 2022. The startup closed a US$80 million Series B funding round earlier this year which it said it will use to pursue expansion in Europe.

Taxdoo (Germany)

Taxdoo

Founded in 2016 and headquartered in Hamburg, Taxdoo builds API-based tools to help e-commerce companies with tax compliance and other accounting needs.

Among other features, Taxdoo handles the VAT processes in European Union (EU) countries and the UK automatically and securely. Through the automated collecting, monitoring and evaluation of the transaction data, the system recognizes the respective VAT liabilities in Europe and prepares them clearly.

Taxdoo has raised US$84 million in funding and is valued at about US$350 million, according to Techcrunch. The company closed a US$64 million Series B funding round in December 2021 which it said it will use to expand further across Europe and add new features and capabilities.

 

Featured image credit: Edited from Unsplash

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