Milan Fintech Summit: A Review of the 622 Italian Fintech Startups

Artificial intelligence (AI), machine learning (ML) and anti-fraud solutions are currently in the spotlight (also) in the fintech sector. This is what emerged from the fifth edition of the Milan Fintech Summit – an international event dedicated to the innovation of banking and financial services, organized and promoted by Fintech District in the pavilions of Fiera Milano City.

In fact, 50% of Italian investors in the fintech sector are looking carefully at innovations in these areas, according to a survey conducted on companies and experts in the sector by Milan Fintech Summit.

Another finding that emerged was the high level of ambition among fintech companies when it comes to fundraising, with a substantial 92.6% planning to seek funding in the next 12 months.

Investors’ interest is aligned with early-stage trends: 90% of them expressed a preference for investing in fintech and techfin companies in the pre-seed and seed stages. The areas that attract the most investments? Techfin solutions (50%), insurtech and wealthtech (25%).

The fifth edition of the Milan Fintech Summit: an overview of the Italian fintech companies

The Milan Fintech Summit presented data from the Italian Fintech Map 2024, the “guide” created by Fintech District and Politecnico di Milano, an overview of fintech companies active in Italy and European ones with Italian roots. From here it emerges that at the end of 2023 in Italy there were 622 fintech and insurtech startups, 35% of which reached break-even, with a forecast of revenue growth of 60% compared to the previous year.

The Milan Fintech Summit also showed that 46% of startups are looking for venture capital, with 13% in the closing phase of financing. In Italy, in 2023 revenues in the fintech sector grew by +60% compared to 2022. Of the 622 startups, approximately 15% are foreign companies.

The key speakers at this year’s Milan Fintech Summit, which closes on October 9th, include Alessandra Perrazzelli, Deputy Director General of Banca d’Italia; Anna Lambiase, Chairwoman of CDP Venture Capital; Paolo Zaccardi, CEO of Fabrick; Stefania Di Bartolomeo, CEO of Physis Investments; Silvia Attanasio, Head of Innovation ABI; Nicolas Benady, CEO of Swan and Carsten Höltkemeyer, CEO of Solaris.

__

(Featured image by Gregory Smirnov via Unsplash)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in laRepubblica. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us