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Latvia
Size
# of active local fintechs
Cumulative funding 2008-2019
€300M
Funding trends
78+3+17+46+15++4 1+1+1+195+1+ 45% 99%
8% 4% 7% <1%<1%<1% <1%<1% 6 3 5 3%
€200M
€100M
0
2
17% 16% 11 12
71 € 667M 32
Insurance Corporate Banking Retail Banking SME Banking
Top VC investors
Startup Wise Guys
Skillion Ventures
Capital Markets Wealth Management
Technology Support
2014
Debt
2015 2016 2017
Seed/Angel Series A
2018 2019
Private Equity Not specified
Imprimatur Capital Fund Management - ICFM 2
Change Ventures 2
Alfa Finance Group 1
Expansion Capital 1
EASME - EU Executive Agency for SMEs 1
Inventure 1
ZGI Capital 1
Pollen Street Secured Lending 1
Top funding rounds 2019
Company Funding Date Funding (€)
Robocash Group 12/2019 4.5M
Marine Digital 3/2019 101.5K
Investor
# of investment
6
3
Selected Top VC investors ranked by number of investment in local fintechs from 2008 to 2019. Lowest category ranked by date of investments.
Sources: Tables include fintechs headquartered in Latvia. Funding rounds and amounts are relative to the period from 2008 to 2019 and exclude M&A, IPO and ICO deals, but include debt. Source: BCG FinTech Control Tower
Country data
Population 2019 (M)
GDP total 2019 (€ Bn)
GDP per capita 2019 (€, at PPP)
GDP growth 2019 (% yoy)
GDP growth 2020 (% yoy)
Official currency
1.9
30.9
21,500
2.2
-8.6
EUR
Total bank assets 2019 (€ Bn) 23.2 Total bank assets (% of GDP) 75 Account ownership 2020 (% of population) 95 Debit card ownership 2020 (% of population) 88 Internet usage 2018/2019 (% of population) 84 Usage of internet to pay bills 2020 (% of population) 65 Sent/received digital payments 2020 (% of population) 88 Source: national sources, ECB, ITU, World Bank, RBI/Raiffeisen RESEARCH; estimates for 2020 penetration ratios
Source: IMF, ITU, World Bank, RBI/Raiffeisen RESEARCH, data for 2019 and estimates for GDP growth 2020
0.8M 20K
4.8M 4.5M
5.6M
4.6M
101.5.3K
63M
65.4M
2.4M
148.9M
159.7M
198.1K
150.5M 150.7M
9.7M
1.1M
287.8M
1M 2.2M
291M