http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 1

FinTech Forum DACH

http://www.FinTechForum.de

1st Study of FinTech Startups & Innovators

in Germany, Austria and Switzerland

01st Feb. 2014, Frankfurt am Main

Sponsors

A BankITX and TechFluence initiative

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 2

Foreword

We launched FinTech Forum D-A-CH in July 2013 on a whim. Reading about the FinTech startup scene in the US and nearer

home in the UK, we were wondering how a region with a burgeoning financial services sector and hubs like Frankfurt, Zurich,

Munich and Vienna seems to be known for just a handful of FinTech startups that keep reappearing in the press or at events.

Unlike the US - where New York FinTech startup funding was expected to double in 2013 - or the UK with London as the

FinTech hub, we had no idea (if and) where financial services innovators were taking root in the D-A-CH region. Would we

find them in Berlin, the startup hotspot, or in Frankfurt, Zürich, Munich or Vienna- the power centres of banking and finance?

We took a leap of faith and kicked off our initiative with the intention of bringing together around 20 startups with investors

and banks in a simple first event in Frankfurt in Nov. 2013. We identified and contacted the first set of twenty startup

founders and waited – with bated breath! Within four weeks, we had our first 10 registrations. In the next four weeks we got

to know over 50 startups, and the “network effect” took us beyond the 100 mark by end-October.

Here we present some initial results of our study with brief introductions to the 100 FinTech startups/SMEs we got to know

on the way to our first event. We hope that investors, banks, accelerators, and other FinTech market players will find here an

informal but useful overview of the D-A-CH FinTech landscape, and use it to get to know (and reach out to) each other.

Our thanks to the startups (especially those who participated in our first event, or contributed to our popular “7 Questions

with…” interviews), participating investors, banks, and sponsors (BankITX and Kea Company) for supporting our initiative.

Register for our next event (9th May 2014 in Frankfurt) or for our weekly newsletter covering the DACH FinTech scene.

Want to be included in our next study? Email Contact@FinTechForum.de | Connect to us:

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 3

Disclaimer

This is an informal study prepared purely for academic purposes, using publicly available information, and with no claims to the

completeness, correctness, currentness or validity of the data. This is not an exhaustive report, and we are happy to hear from

FinTech Startups or SMEs who want to be part of our next study. We are not responsible or liable for any errors, or for any

investment decisions made based on the information provided in this document.

About FinTech Forum D-A-CH

FinTech Forum is the first hub for FinTech Startups/SMEs, investors and banks in Germany, Austria and Switzlerland (D-A-CH

in short). An initiative co-founded in July 2013 by Frank Schwab and Samarth Shekhar, the Forum is on a mission to put

more FinTech innovators from the D-A-CH region on the world map. We seek to identify innovators, disruptors and “hidden

champions” in the D-A-CH financial services sector, and bring them together with investors and banks: via our network of

relationships, our online presence (newsletters, expert blogs, Q&As, social media etc.) and events, as well as our custom

advisory, research and business development services.

Contact the Author

Samarth Shekhar | Co-Founder, FinTech Forum D-A-CH

Email: samarth.shekhar@fintechforum.de | Phone: +49 6192 7036 325 / +49 151 44 555 404

Website: http://www.fintechforum.de | TechFluence Consult UG, Am Ziegeleipark 3c, 65830 Kriftel, Deutschland

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 4

1. Summary of initial results

We were looking for answers to some basic questions: which type of FinTech startups have been founded, where are they

based, when were they founded, how big are they etc. We made some initial observations from a sample size n=100.

While the Berlin cluster as a startup hotspot came out on top, we saw clusters around financial centres like Frankfurt, Munich

and Zurich following close behind. We used the Google Map Engine to plot a map of these startups (see next page).

The jump in the number of startups after 2008-09 could indicate the frustration with the crisis and the banking system,

triggering founders to go out on their own or try and change the way financial services were being provided.

0

5

10

15

20

25

Split by Location Clusters

0

5

10

15

20

25

Older Y-2008 Y-2009 Y-2010 Y-2011 Y-2012 Y-2013

Split by Year Founded

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 5

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 6

For a region known to be lending- and risk-averse, we found no dearth of crowd-funding, lending and trading startups.

In terms of size (by number of employees), we found around 10% SMEs and the rest almost equally split between small (1

to 10 staff) and medium-size (11 to 50 staff) startups.

Methodology / Remarks

- We use “clusters” to refer to locations within ~50-100 km radius of the cities

- The year of founding was taken from the company website or from their Xing, LinkedIn or TechCrunch profiles

- The “FinTech Type” used for analysis or for the sub-sections below are an approximate classification based on our

assessment of the core service offered– e.g. a thin line separates crowd-funding and peer-to-peer lending firms

- For approximating the company size we used the range provided on their Xing or LinkedIn profile.

- The short descriptions are taken from the company website, “About Us” or public profile. Where only a German

website was available, we have tried our best to provide an approximate translation.

- All analysis is based on publicly available and potentially inaccurate information, to arrive at approximate results as an

academic study and we are not liable for the currentness, correctness or validity of the data.

0 5 10 15 20 25

Banking & Corporate Finance

Capital Markets/Trading

Crowdfunding/Crowdinvesting

Data Analytics

Payments

Personal Financial Management

Security

Split by FinTech Type

0 10 20 30 40 50

1 to 10

11 to 50

51 to 200

Split by Size (No. of Staff)

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 7

2. Startups in Banking & Corporate Finance

Company Name Short Description Website

Mambu

Mambu helps banks, microfinance institutions and other financial innovators

to deliver essential banking services to individuals and emerging

enterprises around the world.

https://www.mambu.com/

Smava smava is Germany's first credit marketplace, where applicants can get

online credit with the best terms from a wide selection of offerings. http://www.smava.de/

Billomat

With Billomat even non-accountants can take care of all their invoice

processing effortlessly – including customer management, quotes, invoices

and reminders.

http://www.billomat.com/

Demokratische

Bank

Alternative banking: “bank for common good”, founded by the people to

provide cooperative banking for all http://www.demba.at/

Fidor Bank

“Banking with Friends”: Fidor is an internet-based, licensed bank

addressing private and corporate clients, it makes consistent use of Web

2.0 mechanisms to interact and communicate with its community

https://www.fidor.de/

IND Group IND Group provides online banking softwares and mobile banking

applications for the international financial market. http://www.indgroup.eu/

Auxmoney auxmoney is a web-based marketplace allowing private borrowers to secure

personal loans funded by private investors. https://www.auxmoney.com/

Vexcash

Vexcash is the first PayDay (“Kurzzeitkredit” ) lender in Germany. It lends

money to people in difficult financial circumstances when they suffer to get

a loan anywhere else.

https://www.vexcash.com/

Debitos

Debitos is Germany’s first online exchange, on which companies can trade

any type of receivable for cash. By auctioning off their invoices, companies

gain fast access to working capital on their own conditions.

http://www.debitos.de/

Lendstar

Lendstar is the new social financial network from friends for friends. It

helps people lend money to their pals or other people they trust – quick,

easy and secure.

http://www.lendstar.de/

Naqoda

The Naqoda German Withholding Tax (Abgeltungssteuer) Calculation Engine

is a software solution for the calculation and reporting of interest income

tax and capital gains tax according to German tax law.

http://www.naqoda.com/

Kreditech

Kreditech is a BIG DATA infrastructure that allows for credit bureau

independent acquisition, identification, scoring, retention management in

consumer lending.

http://www.kreditech.com/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 8

Company Name Short Description Website

Open Bank

Project

An open source API and App store for banks that empowers financial

institutions to securely and rapidly enhance their digital offerings using an

ecosystem of 3rd party applications and services.

https://openbankproject.com/

Finpoint

Finpoint is a unique online financial matchmaking service that efficiently

connects SMEs with banks and financial institutions that are registered and

ready to lend.

http://www.finpoint.de/

FastBill

FastBill is a technologically sophisticated web-based solution for digital

invoicing for services and products, and for the administration of

quotations, invoices, customers and products.

http://www.fastbill.com/en/

Synchronite

The Enterprise Platform for Real-Time Customer Service. Service agents

and customers can share the same browser view with one click- No

downloads, no setup, runs anywhere.

http://www.synchronite.de

Assentis

Technologies

Client communication management solutions for generating highly

personalized on boarding documents, contracts or client reports across all

channels per each individual customer’s preference.

http://www.assentis.com

Lendico

Lendico is a marketplace for person to person loans. Without branches or

bank teller involved, Lendico offers savings for both lenders and borrowers.

Both benefit from attractive terms.

https://www.lendico.de/

Treasury

Intelligence

Solutions

Financial solutions providing efficient, secure and cost effective banking

transactions, with all processes are integrated into a single, multibank

capable, audit-proof Cloud platform, with full visibility and control.

http://www.tis.biz/

Kreditup Vexcash spinoff, offering short-term loans for small business owners for up

to €10000. http://www.kreditup.com/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 9

3. Startups in Capital Markets/Trading

Company Name Short Description Website

financial.com

Web-based stock exchange information system based on highly scalable

real-time systems, which support our clients with complex searches and

analyses of financial instruments of worldwide stock exchange centres.

http://www.financial.com/

JUSTETF Do-it-yourself investing tool for beginner as well as advanced private

investors focusing on ETFs https://www.justetf.com/

rethink finance

Ethical banking investment platform that allows customers to decide how

their saved or invested money will be used, and informs them about

sustainable investments.

https://www.rethinkfinance.de/

Sentitrade

Automatically interprets tonality in financial news. Investors use it to get an

up-to-date overview of market psychology, to warn of exuberant optimism

and conversely, point out opportunities created by exaggerated pessimism.

http://www.sentitrade.com/

Twindepot An investment community that brings together (retail) investors and stock

experts, so that both can profit from each other. https://www.twindepot.de/

Yavalu yavalu has created a simple investment solution that could not only save

retail investors up to 90% on fees, but also time and nerves. http://www.yavalu.com/

Ayondo

Social trading platform: customers can get the best traders on your

account within a few minutes, analyse their chosen traders, watch their live

trades, and then let their trader portfolio run on their account free of cost.

http://www.ayondo.com/

2iQ Research

Behavioural finance as well as quantitative processing and analysis of

capital market data. 2iQ has successfully developed financial applications

for several years and advised different mutual, hedge funds and managed

accounts.

http://www.inside-analytics.com/

StockPulse

Stockpulse provides independent social media and news analyses for

financial markets. Stockpulse daily collects up to 100,000 news and

opinions, determines market moods, and provides valuable trading signals.

https://www.stockpulse.de/

TeamInvest

Offers among others a white-label personal finance management solution

that can be integrated without major integration effort into an existing

online presence.

https://www.teaminvest.de/

WikiFolio

Social trading platform: investors can easily invest in the trading strategies

of the best traders (so-called “wikifolios”). Each investable wikifolio

becomes a fully-fledged financial product which makes investing even

easier.

http://www.wikifolio.com/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 10

Company Name Short Description Website

JC Analytics

Financial information systems product that helps investors, risk manager

and controllers to make better decisions faster, with the vision to become

the globally leading “Open Data Service Provider”.

http://www.jc-analytics.com/

Moneymeets

Social trading platform offering direct exchange and multibank trading in

mutual funds and listed securities with high transparency, cost advantage

and communication.

https://www.moneymeets.com/

United Signals

Connects investors and financial experts directly via a web platform to

create a new form of investment. United Signals breaks down the idea of

any kind of investment to its core: investors follow financial experts with

their assets.

https://www.united-signals.com/

Intalus Leading provider of financial software, quantitative strategies, algorithmic

trading and risk management http://www.intalus.de/

Coryx Software Software for professional investment management. http://www.coryx.com/

FBA AG Solutions to process and integrate data feeds of the world’s main suppliers

of financial information. http://fba-ag.ch/en/

Quirion A Quirin Bank brand, Quirion offers a modern, cost-effective online wealth

management advisory and portfolio management platform. https://www.quirion.de/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 11

4. Startups in Crowd-Funding/Crowd-Investing

Company Name Short Description Website

Bankless24 Allows investors to invest directly into Mittelstand (German SMEs) https://www.bankless24.de/

Cashare Crowdfunding platform with a focus on Switzerland https://www.cashare.ch/

Seedmatch Crowdinvesting for startups https://www.seedmatch.de/

Companisto Crowdinvesting for startups https://www.companisto.de/

innovestment Crowdinvesting in innovative startups http://www.innovestment.de/

Mashup Finance Crowdfunding / -investing platform focused on Startups / SMEs http://www.mashup-finance.de/

StartNext Crowdfunding with a focus on creatives / inventors http://www.startnext.de/

Bergfürst BaFin-licensed crowdinvesting platform, including IPOs https://www.bergfuerst.com/

c-crowd Crowdinvesting for startups, focused on Switzerland http://www.c-crowd.com/

P2C Aurelia Project financing for smaller SMEs http://www.p2c.de/

Friendfund Crowdfunding for friends http://www.friendfund.com/

Conda Crowdfunding with a focus on Austrian startups & SMEs https://www.conda.at/

Finmar Crowdfunding with a focus on Mittelstand / SMEs https://www.finmar.com/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 12

5. Startups in Data Analytics/Others

Company Name Short Description Website

ConWeaver

Offers automatic integration of business data as an alternative to master

data management, as well as intelligent semantic and multilingual

searches.

http://www.conweaver.de/

Quasol Risk Management, Asset Allocation and Portfolio Optimization. http://www.quasol.de/

Infodyn

Enables enterprises gain a 360-degree view of their information assets and

data flows across all applications and databases, helping them ensure

compliance and good governance.

http://www.infodyn.eu

InstantOLAP Lightweight BI & OLAP http://www.instantolap.de

RiskTrak Risk Management software http://www.risktrak.de/

Rapidminer Predictive analytics (formerly Rapid-I) around customer segmentation,

loyalty and retention analysis, credit ratings etc. http://rapidminer.com/

Blue Yonder Predictive analytics to improve underwriting and pricing, improve customer

understanding and predict customer claims http://www.blue-yonder.com/

KNIME

Modular data exploration platform enables the user to visually create data

flows, execute selected analysis steps, and later investigate the results

through interactive views – e.g. for churn analysis and credit scoring.

http://www.knime.org/

Crossing Tech Front- to back-office integration via Connectivity Factory™, the first

mediation, convergence, and information brokerage platform. http://www.crossing-tech.com/

Skyvva Salesforce cloud-based integration http://skyvva.force.com/

Exasol High-performance database with in-memory computing for heavy-duty

data-warehousing and BI. http://www.exasol.com/

Packetwerk Cloud-based network security and big data analytics http://www.packetwerk.com/

Reboard BI reports for mobiles: Reboard combines in a unique way both function

and design into a management instrument of the next generation. http://www.reboard.net/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 13

6. Startups in Payments

Company Name Short Description Website

BarZahlen

Allows consumers to purchase goods and services online and pay cash at

these retail partners, thus offering each customer an easy and safe online

payment method without disclosing financial information on the Internet.

https://www.barzahlen.de/

Maviance

Smobilpay™

Smobilpay™ is a unique turnkey solution designed for third party electronic

bill payment that supports multiple payment and notification options. http://www.maviance.com/

Paymill

Enables online businesses and services to accept card payments on their

websites. Developer-friendly API as well as fast account activation process

within a couple of days.

https://www.paymill.com/

Traxpay

A faster, safer, smarter way to do B2B financial transactions. Secure

electronic payment method for B2B commerce, Traxpay breaks the

barriers to real-time, 24/7 transactions and trusted trade.

http://www.traxpay.com/

Payleven

Mobile card payments for merchants. Based on a “plug & pay” principle,

using Chip & PIN debit and credit card payments via their smartphone or

tablet devices.

https://www.payleven.de/

Yapital Otto Group subsidiary, Yapital is Europe's first cashless cross-channel

payment solution, offering in-store, mobile, online and invoice payment. https://www.yapital.com/

BillPay

Securing and processing of online, high-risk payment options (invoice and

direct debit as well as payment by instalments). Acquired by Wonga in Oct.

2013.

https://www.billpay.de/

Pactas SaaS platform for recurring billing and subscription management for SaaS

and subscription companies, whether startups or established businesses. http://www.pactas.com/

Pay.on

White-label payment infrastructure platform-as-a-service that enables

providers to outsource their entire payment processes or to integrate

defined processes to their existing system.

http://www.payon.com/

Payango

Offers open-and closed-loop, cards and online-based payments from co-

branded prepaid cards for consumers to online payment solutions for

businesses of all sizes.

http://www.payango.com/

paymorrow Payments solutions for online retailers that allows them to offer payments

options to customers, and takes care of the risk of payment default. https://www.paymorrow.de/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 14

Company Name Short Description Website

Payone SaaS modular payments platform for fully automated and comprehensive

settlement of all payment processes in E-Commerce. http://www.payone.de/

Barpay / EZV

GmbH

User-friendly payments solutions, in payment processing, eCommerce and

retail stores and develop from these components tailored solutions for

customers of both commercial worlds.

http://www.ezv-gmbh.de/

PayLoop

B2B universal provider of in-store, online and mobile-based loyalty

solutions. Tools and technologies for customer loyalty across every

marketing channel (in-store, online, mobile)

http://www.payloop.com/

Sofort AG White-labeled secure payment (B2B) for e-commerce companies. Acquired

by Klarna in Dec. 2013. https://www.sofort.com/

PayCash A payment system for the mobile generation. Pay, cash in and withdraw

money can be simply made by using ones smartphone. http://www.paycash.eu/

Payworks Mobile payment platform enabling you to launch mobile point of sale

solutions to your customers – quickly and cost-efficiently http://www.payworksmobile.com/

cogon Helps corporates organize and optimize their payment and cash

management processes. http://www.cogon.de

Finalogic Cloud-based white label mobile payments provider working with large

banks and retailers. Pay using QR codes and NFC. http://finalogic.at

Payever All businesses can accept all payments in online shops, on eBay or even by

mail - using a simple link or html-button. http://www.payever.de/

Paymey Mobile payment for smartphones (app-based). https://www.paymey.com/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 15

7. Startups in Personal Financial Management

Company Name FinTech Sub-Type Website

Avuba

“Reinventing the Bank account” by simplifying banking - with the Avuba app

and bank account, sending money on the go is as easy and secure as

checking balances or analysing and budgeting your expenses.

https://www.avuba.de/

bfox Insurance product comparison: helps you to decide which insurance is best

for you and who is the best provider. http://www.bfox.ch/

Moneyland Swiss comparison service - independent comparison tools for credit cards,

bank accounts, consumer credits, interest rates, online trading etc. http://www.moneyland.ch/

Vaamo

With an intuitive app, savings and investment concept, Vaamo helps

customers reach their personal financial goals easier, faster – and more fun

to achieve.

http://www.vaamo.de/

BankingCheck

Provides financial products comparisons - including fixed deposit, bank

account, credit card, deposit, and loans - so that users can compare, rate

and comment.

http://www.bankingcheck.de/

FinanzABC Helps young customers understand and compare finance products. http://www.finanzabc.com/

FinanzBlick Account aggregation: access all accounts on mobile devices http://www.finanzblick.de/

Kontoblick Summary of financial situation and tools for financial management. http://www.kontoblick.de/

Mydepotcheck Financial product comparison / advisor comparison https://www.mydepotcheck.com/

Whofinance Financial advisor comparison http://www.whofinance.de/

Figo Helps users keep track of finances, alerts when targets are reached.

http://figo.me/

numbrs Mobile banking application that allows users to conduct transactions, track

spending, pay bills, and predict future income and expenses. https://www.numbrs.com/

Sharewise

Stock market-centric community offering users stock recommendations

(with the quality of recommendations based on past predictions) and

interact with like-minded investors,

http://www.sharewise.com/

http://www.FinTechForum.de © TechFluence Consult UG (haftungsbeschränkt) 16

Company Name FinTech Sub-Type Website

Investory

A marketing and information platform for professional asset managers.

Private and institutional investors can compare the simulated portfolios of

asset managers, and execute investment projects with selected partners.

https://www.investory.eu/

Trendlink Find the right stocks fast- financial information portal with analysis, trends

and newsletters etc. http://www.trendlink.com/