The top 30 of “fintech startups” [tecnológicas financeira] in Portugal, it raised more than 437 million euros in investment, according to the Portugal Fintech Report 2021 released this Thursday about the Portuguese ecosystem.

This is one of the investors in the report of Associação Portugal Fintech, which shows that “fintech” “have more accessibility to and that Portugal is becoming a country of choice for international expansion of many of these companies of financial sector innovation”.

Overall, the top “fintech startups” in the Portuguese market “raised more than 437 million euros in investment, with ‘cybersecurity and village technology’, ‘blockchain and cryptocurrency’ and ‘insurance’ being the verticals with the highest funding”, he says the report.

The Portugal Fintech Report distinguished every year as 30 Portuguese “fintech” that stood out in the Portuguese and international panorama, and in the fifth edition of the report, the top 30 “is called by the verticals ‘payments and transfers’, ‘insurance’ and ‘ credit ‘and 30% of these companies were companies’ in 2019, the entity emphasizes.

This year, and in the same way as last year, Portugal Fintech highlights six emerging technology companies from the financial sector and 14 international ones with operations in Portugal.

“The Portuguese ‘fintech’ ecosystem today has a high degree of maturity, which places it at the level of other global hubs“, says João Freire de Andrade, founder of Portugal Fintech, quoted in a statement.

“On the one hand, the ‘report’ shows how Portugal attracts new ‘startups’ and entrepreneurs in different verticals” and, on the other, “the very maturity of mature institutions, better known and working with ‘fintech startups’, shown as 2021 it was a year of turning point in the cooperation between these two universes”, highlights the same responsible.

The report concludes that “there is a greater openness of more mature ‘players’ to innovation, associating these with ‘fintechs’ in order to accelerate their digitization processes”.

Examples of this are the results of “cooperation between ‘fintechs’ and institutions such as the Fintech 365 program, a partnership between Unicre and hAPI or ERA and Alfredo”, reads the statement.

In addition to “relevant data on talent, capital and investment, and independent in the sector, the report released this morning also includes an indication on the ecosystem of financial innovation in Portugal with relevant personalities, such as Hélder Rosalino, administrator of Banco de Portugal, José Miguel Almeida, director of the Portuguese Securities Market Commission or Manuel Caldeira Cabral, member of the board of the Supervisory Authority for Insurance and Pension Funds”, says the document.

Among the different partners supporting this report are Visa, Morais Leitão and Accenture.