Page 13 - RBI FIntech Atlas 2018

Latvia
Size
# of active local ntechs
Funding trends
13
Cumulative funding 2008-2018
19%
€15M
22 6 6 5 1 8 72%
6% 6% 2%2%4% 8% 1%
33112
€10M
€5M
0
19% 9
Insurance Corporate Banking Retail Banking SME Banking
Top VC investors
48 €23M 29
60%
Capital Markets Wealth Management
Technology Support
Series A
Not disclosed
2014 Seed/Angel
2015 2016 2017 2018
Top ntech companies
Company Description Funding (€)
4 nance Online and mobile consumer lending 643.7M group
Mogo Finance Non-bank car nancing 23.2M
Mintos Online loan marketplace 7.7M
Twino Peer-to-peer lending marketplace 7.7M
Monify Unsecured online business loans 4.8M
CloudPayments Advanced payment service 3M
DoFinance Peer-to-peer lending platform - ROI 9% 2.1M
Mobilly Transactions for Smart Cities 1.1M
Nordigen Transaction analytics tools for banks and 882K lenders
Monea Micropayment application 811K
Investor
# of investment
TrustPay 2
Skillion Ventures 2
FinHub Global 2
Forgamer 2
Inventure 1
Seedcamp 1
Tinkoff Bank 1
Change Ventures 1
Alfa Finance Group 1
Nordea Startup Accelerator 1
Selected Top VC investors ranked by number of investment in local ntechs from 2008-2018. Lowest category ranked by date of investments.
Sources: Tables include ntechs headquatered in Latvia. Funding rounds and amounts are relative to the period 2008-2018 and exclude M&A and IPO deals, but include debt. Source: BCG FinTech Control Tower
Country data
Source: Eurostat, IMF, European Commission, RBI/Raiffeisen RESEARCH Latest available data as of 2017/2018
Data for 2018, estimates Source: ECB, national sources, World Bank, RBI/Raiffeisen RESEARCH
Total bank assets (€ Bn) 22
Total bank assets / GDP (%) 51
Account ownership (% of population) 93
Debit card ownership (% of population) 86
Internet usage (% of population) 78
Usage of internet to pay bills (% of population) 58
Send/received digital payments (% of population) 84
Population (M) 1.9
GDP total (€ Bn) 29
GDP per capita (€, at PPP) 21,500
GDP growth (%) 4.7
Of cial currency EUR
245K
1.2M
140K
1.9M 2.9 M
931K
766K
6.1M 6.8M 12.9M
5.3M 6M