Fintech Innovators has released its annual report featuring the most exciting and fastest-growing fintech and insurtech companies across Germany, Austria and Switzerland (DACH).
Produced in collaboration with robo-advisory platform Inno Invest, startup acceleration program German Accelerator, consulting firm KPMG and tech provider Amazon Web Services, the report aims to give a comprehensive view of DACH’s burgeoning fintech and insurtech industries, highlighting this year more than 110 ventures that are reshaping the finance and insurance sectors.
The report categorizes these companies in three groups: the New Stars, which encompasses DACH fintech and insurtech startups that launched in 2022; the Young Stars, or companies that entered the market in the years 2019-2021 and which are developing exciting brands and products; and the Established, which comprises companies that entered the market in 2017 or 2018.
40 companies make up the New Stars category, 61 companies comprise the Young Stars category, and 11 are considered as being Established fintech and insurtech brands.
To get a sense of DACH’s emerging fintech and insurtech startups, we look today at the 40 New Stars, delving into those that have made significant strides this past year and examining the 17 startups that have fully launched their products.
InsiderPie
Founded in 2022 in Germany, InsiderPie is a digital platform that tracks and analyzes transactions of professional players on the capital market and provides users with data for long-term investments. The findings are based on three pillars: trades made by star investors like Warren Buffett, directors’ dealings, and the analyst ratings of well-known banks.
InsiderPie currently operates in the DACH region but plans to expand to the US and Great Britain within the next two to three years. The startup is also looking to secure funding and ink a collaborate with a strategic partner.
Wattify
Founded in 2021 in Germany, Wattify is a blockchain-based fully banking compliant crowd-investment platform which offers retail investors access to renewable energy projects via so-called electronic crypto securities.
Wattify is active in DACH but plans to expand across the broader European region. Within the next 18 months, the startup plans to launch more projects, build up a stable business-to-consumer (B2C) customer base and develop a business-to-business-to-consumer (B2B2C) business model.
Foma
Founded in 2021 in Germany, Foma is a digital receivables management platform. By using advanced technology, artificial intelligence (AI) and data science, Foma is able to offer a customer journey tailored exclusively to small and medium-sized enterprises (SMEs), from registration, onboarding claims, E2E collection and added value services and reporting etc., all done digitally and using the platform as one medium.
Within the next 18 months, Foma plans to onboard at least 1,000 new customers, build one or two new products, start developing interfaces to its distribution partners. Foma secured undisclosed seed funding in August.
Spiritory
Founded in 2022 in Germany, Spiritory is a trading platform for blue-chip spirits, wine and sparkling wine. The platform focuses on the investment, purchase, and sale of spirits, wines, and sparkling wines, enabling users to have access to blue-chip assets at the true market price.
Spiritory is active in Germany but plans to expand to the broader European Union (EU), the UK and Asia within the next three years. Within the next 18 months, the startup hopes to close its first investment round and will focus on building up its user base.
Iknaio Cryptoasset Analytics
Founded in 2021 and based in Austria, Iknaio Cryptoasset Analytics provides operational services helping organization mitigate illicit activities involving crypto-assets. Iknaio offers services around the open-source analytics platform GraphSense, and serves investigators from national authorities, law enforcement agencies, security companies, and the payment industry.
Iknaio operates across Europe and plans to expand to Asia and the US. The company, which has managed to win the first governmental customers in Austria and Germany, hopes to establish a network of more than five valuable partner in different areas within the next 12 months.
Cure Finance
Founded in 2020 and based in Germany, Cure Finance is an intelligence banking platform for healthcare professionals. Leveraging open banking, the platform integrates seamlessly into the processes of medical practice and supports healthcare professionals in making business processes more transparent and making better financial decisions.
Cure Finance closed EUR 1.4 million in funding in October 2021. The company is planning to launch in Austria and Switzerland within the next three years.
Fynn
Founded in 2022 and based in Germany, Fynn is a billing software for accounts payable and accounts receivable management that aims to streamline financial processes with automation.
Fynn hopes to expand across the whole DACH region within the next three years. In the next 18 months, it says it will focus on securing funding and tying up with strategic partners that would help it bring its product to the next level. It will also continue expanding its product portfolio and launch more financial modules.
Finance, Baby!
Finance, Baby! is a financial education platform for women that provides content addressing taxes, retirement provision, stock trading, exchange traded funds (ETFs), cryptocurrency, real estate financing, and more.
The online courses consist of videos that users can watch at any time, followed by interactive instructions, checklists and more. Customers can also book a consultation with a financial expert and can enroll for any of the services provided by Finance, Baby! partners directly from the app.
Finance, Baby! claims more than 5,000 active app users and says it has already secured its first round of funding. Within the next 18 months, it hopes to raise its next financing round and launch an updated version of its app with more features.
Taxefy
Founded in 2021 and based in Austria, Taxefy is a tax app that helps users do their tax returns quickly and seamlessly online. After signing up to the service, users simply need to answer an average of 40 tailored questions for the platform to calculate the estimated amount of their tax refund. Users can then choose to have Taxefy send the tax return to the tax office.
Taxefy currently operates in Austria but wishes to expand to other European markets within the next three years. The company claims it has successfully submitted over 10,000 tax cases with a total tax volume of over EUR 7 million to the tax office. It’s now looking to secure at least EUR 2 million in funding in exchange for 15% of the company.
Kaspar&
Founded in 2020 and based in Switzerland, Kaspar& is a wealth manager regulated by the Swiss Financial Market Supervisory Authority (FINMA) that combines wealth management with payments.
The company provides customers with a Swiss bank account, an investment account, and a prepaid Mastercard. Every time a user pays with the Kaspar& card, it’s rounded up to the next CHF and the difference is automatically invested in the form of micro-investments. Other products it offers include individual saving- and investment plans in which customers can pay-in or pay-out at any time as much as they want.
Within the next three years, Kaspar& plans to expand to Germany and Austria. It hopes to close a seed round within the next year.
Fiat24
Founded in 2018 and based in Switzerland, Fiat24 specializes in banking services for the metaverse. The company provides a core banking system built entirely on blockchain and powered by smart contracts, offering clients multi-currency cash accounts that can be topped-up by peers, through a bank transfer, and a crypto-to-fiat top-up.
Fiat24, which claims more than 10,000 users, operates in Switzerland and the European Union but hopes to expand beyond the region and into Asia within the next three years. In the next 18 months, it hopes to amass a total of 100,000 users.
Inno Finanz
Founded in 2021 and based in Germany, Inno Finanz is a brokerage bank focusing on personalized advice on hedging, insurance, capital investments and construction and housing. The company seeks to act as a “professional financial coach” to its customers, striving to select the ideal banking and insurance products for them.
Inno Finanz currently operates in three regions of Germany but hopes to expand across the whole country within the next three years. In the next 18 months, it says it will focus on increasing sales volume and open five new locations to expand its reach.
Splint Invest
Founded in 2021 and based in Switzerland, Splint Invest is an alternative asset investment platform that allows users to start investing with as little as EUR 50. The platform aims to make alternative asset classes easily accessible for everyone, focusing initially on fractional investing in luxury items, like whisky, watches, wine, cars, and art.
Splint Invest claims it has onboarded over 5,000 retail investors already, but hopes to reach 15,000 within the next 18 months. The startup recently secured CHF 500,000 just a few months after winning CHF 150,000 from Venture Kick.
Money Masters
Founded in 2020 and based in Switzerland, Money Masters is a gamified financial education platform that makes it easy and fun to lean about money. The company has built an interactive financial journey that takes users from the basics of personal finance to more complex topics like investing and economics. In addition, the platform offers financial games to bridge the gap between theory and practice.
Money Masters is available in most countries of the world but will be putting a bigger focus on Latin America over the next three years. The company claims 30,000 users and hopes to secure funding and onboard strategic partners within the next year.
Denario
Founded in 2021 and based in Germany, Denario is an integrated B2B payment platform providing secure bill payments, payouts and invoicing services. Denario allows SMEs and startups to automate their accounts payable and receivable functions, and leverages open banking to let them connect their financial accounts such as bank accounts, PayPal and Stripe.
Denario operates in the EU and the UK and plans to expand to the US within the next three years. In the next 18 months, the startup said it will release several new payment methods and modalities. Denario secured EUR 1.3 million in January
Clanq
Founded in 2021 and based in Switzerland, Clanq is a mobile finance app that aims to support parents in making sustainable provisions for the future of their children. The solution allows families to create and grow savings for their kids seamlessly by leveraging the not-utilized saving potential.
The company claims families using its platform can save up to 30% more through a combination of cashback, automated savings with family and friends, and sustainable investments.
Clanq is currently available in Germany but plans to expands across the European region within the next three years. For the next 18 months, the startup said it will focus on launching an teenage banking offering and expand to other European countries.
Foreus
Founded in 2021 and based in Austria, Foreus is a cyber and crypto security firm that combines open source intelligence with software-based information gathering from the darknet to tackle crypto crimes. Foreus serves lawyers, banks and finance companies, helping them detect digital fraud, gather evidence of crimes, and comply with regulations.
Foreus currently operates in DACH, Turkey and Dubai, but plans to launch in Italy and the UK within the next three years.
