유럽의 핀테크 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the Europe fintech market size is projected to expand from USD 85.52 billion in 2025 and USD 98.14 billion in 2026 to USD 195.35 billion by 2031, registering a CAGR of 14.76% between 2026 to 2031.

This report is Segmented by Service Proposition (Digital Payments, Digital Lending and Financing, Digital Investments, Insurtech, Neobanking), End-User (Retail, Businesses), User Interface (Mobile Applications, Web/Browser, POS/IoT Devices), and Geography (United Kingdom, Germany, France, Spain, Italy, Benelux, Nordics, Rest of Europe). The Market Forecasts are Provided in Terms of Value (USD).

Europe Fintech Market Trends and Insights

Expansion of Account-to-Account Instant Payments Enabled by PSD2 and SEPA Infrastructure

The Instant Payments Regulation (IPR) adopted by the EU in 2024 is rapidly accelerating the deployment and uptake of instant account-to-account credit transfers in euros across Europe by mandating that providers of traditional euro credit transfers must also offer instant versions of those services. Under the regulation, instant payments must be available 24/7/365 and settled within seconds, narrowing the gap between payment initiation and final funds availability and fostering real-time transaction capabilities across banks and fintechs. PSPs (payment service providers) are required to ensure that instant payments are offered at no greater cost than standard credit transfers, helping to remove pricing barriers that previously discouraged adoption. The regulation also introduces a verification-of-payee (VoP) requirement, which alerts payers to mismatches between account identifiers and beneficiary names before execution, reducing fraud risk and strengthening trust in real-time account-to-account transfers. In addition, the regulation supports broader market participation by granting non-bank payment and e-money institutions access to core payment systems, widening the ecosystem of providers that can deliver instant payment services. By harmonizing access, pricing, and security standards across the Single Euro Payments Area (SEPA), the IPR significantly enhances the reliability, reach, and appeal of instant account-to-account payments, making real-time transactions an essential, scalable foundation for Europe's evolving fintech landscape.

Acceleration of Embedded Payments Adoption Among European SMEs and Mid-Market Enterprises

The acceleration of embedded payments adoption among European SMEs and mid-market enterprises is a major driver of growth in the European fintech market, as reflected in Adyen's H1 2025 performance. The company reported strong double-digit revenue growth, supported by increasing transaction volumes from platform businesses and mid-sized merchants that are embedding payments directly into their software and commerce ecosystems. Growth in Adyen's platforms and issuing segments indicates rising demand for integrated payment acceptance, payouts, and card issuing capabilities that are delivered through a single, scalable infrastructure. European SMEs and mid-market enterprises are increasingly prioritizing embedded payments to reduce operational complexity, eliminate multiple vendor relationships, and improve speed to market. By integrating payments natively into enterprise resource planning systems, marketplaces, and SaaS platforms, these businesses can offer seamless checkout, faster settlement, and unified reporting across channels. Embedded payment models also support omnichannel strategies, allowing merchants to manage in-store, online, and mobile transactions through a single backend. As transaction volumes scale, payment infrastructure providers benefit from operating leverage, reinforcing investment in advanced fintech capabilities. This shift is particularly relevant in Europe, where fragmented markets and cross-border activity create demand for unified payment orchestration.

Prolonged Venture Capital Slowdown Creating Funding Gaps for Scale-Ups

Prolonged weakness in venture capital funding remains a key restraint for the European fintech market, particularly for scale-ups and early-stage firms. In 2025, investor appetite became increasingly selective, with capital concentrated on proven, later-stage business models and stronger revenue visibility. This shift has extended fundraising timelines and raised expectations around profitability, unit economics, and operating discipline. Recovery in fintech investment is uneven across Europe, as major hubs continue to attract funding while smaller or emerging markets face reduced deal activity. Elevated interest rates and global policy uncertainty have further reinforced investor preference for lower burn rates and sustainable growth strategies. As a result, fintechs without diversified revenue streams or clear paths to cash generation face constrained access to expansion capital.

Other drivers and restraints analyzed in the detailed report include:

1. Maturation of Open-Banking API Ecosystems Unlocking Data-Driven Revenue Streams
2. Rapid Uptake of Buy-Now-Pay-Later Solutions Across Regional E-Commerce Channels
3. Fragmented National Licensing Regimes Hindering Cross-Border Expansion

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Digital payments accounted for 52.67% of the European fintech market in 2025. Growth is driven by instant payment mandates, verification-of-payee requirements, and increasing merchant adoption of account-to-account and card-based flows. Infrastructure providers, such as Adyen, report strong revenue and transaction volume, reflecting the shift toward omnichannel, real-time payment acceptance. Regulatory measures like mandatory verification-of-payee enhance transaction security and build trust, encouraging broader adoption in both e-commerce and point-of-sale environments. Together, real-time rails, offline acceptance safeguards, and unified risk controls are making payments faster, safer, and more reliable for consumers and merchants across Europe.

Insurtech is the fastest-growing segment in Europe, projected to expand at a 16.58% CAGR through 2031, supported by data-driven underwriting, embedded distribution, and compliance-ready product design. Neobanking is evolving, with profitable leaders expanding product lines, improving operating leverage, and leveraging AI-enabled service flows, while smaller providers focus on cost efficiency. The growth of real-time payment rails and open APIs provides new channels for data, distribution, and personalization, enabling insurers and banks to embed coverage and financial services seamlessly into digital journeys. European rulemaking and participation in scheme governance are integrating fintechs more directly into the industry, strengthening settlement and standardization. Overall, these innovations allow multiple fintech segments to scale concurrently, with digital payments advancing on real-time infrastructure and Insurtech expanding via AI and partner-led distribution.

Complete Report Scope:

• By Service Proposition
  • Digital Payments
  • Digital Lending and Financing
  • Digital Investments
  • Insurtech
  • Neobanking
• By End-User
  • Retail
  • Businesses
• By User Interface
  • Mobile Applications
  • Web/Browser
  • POS/IoT Devices
• By Country
  • United Kingdom
  • Germany
  • France
  • Spain
  • Italy
  • Benelux (Belgium, Netherlands, and Luxembourg)
  • Nordics (Sweden, Norway, Denmark, Finland, and Iceland)
  • Rest of Europe

List of Companies Covered in this Report:

1. Adyen N.V.
2. Klarna Bank AB
3. Revolut Ltd
4. Checkout.com Group
5. Wise plc
6. Stripe Inc.
7. N26 GmbH
8. Starling Bank Ltd
9. OakNorth Bank plc
10. Solaris SE
11. Mambu GmbH
12. Tink AB (Visa)
13. Onfido Ltd
14. WorldRemit Group
15. Rapyd Financial Network
16. Pleo Technologies ApS
17. Qonto SAS
18. Tide Platform Ltd
19. LendInvest plc
20. Funding Circle Holdings plc

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions & Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Expansion of Account-to-Account Instant Payments Enabled by PSD2 and SEPA Infrastructure
  • 4.2.2 Acceleration of Embedded Payments Adoption Among European SMEs and Mid-Market Enterprises
  • 4.2.3 Maturation of Open-Banking API Ecosystems Unlocking Data-Driven Revenue Streams
  • 4.2.4 Rapid Uptake of Buy-Now-Pay-Later Solutions Across Regional E-commerce Channels
  • 4.2.5 European Central Bank Digital-Euro Pilots Catalysing Wallet and Digital Identity Investments
  • 4.2.6 Growth in Climate-Aligned Fintech Innovation Driven by EU Sustainable Finance Regulations
• 4.3 Market Restraints
  • 4.3.1 Prolonged Venture Capital Slowdown Creating Funding Gaps for Scale-Ups
  • 4.3.2 Fragmented National Licensing Regimes Hindering Cross-Border Expansion
  • 4.3.3 Escalating Cloud-Sovereignty Compliance Costs Under Emerging EU Standards
  • 4.3.4 Stricter Bank Capital Rules Reducing Appetite for Fintech Partnership Lending
• 4.4 Value Chain Analysis
• 4.5 Regulatory Outlook
• 4.6 Technological Outlook
• 4.7 Porter's Five Forces
  • 4.7.1 Threat of New Entrants
  • 4.7.2 Bargaining Power of Suppliers
  • 4.7.3 Bargaining Power of Buyers
  • 4.7.4 Threat of Substitutes
  • 4.7.5 Industry Rivalry
• 4.8 Investment & Funding Trend Analysis

5 Market Size & Growth Forecasts (Value)

• 5.1 By Service Proposition
  • 5.1.1 Digital Payments
  • 5.1.2 Digital Lending and Financing
  • 5.1.3 Digital Investments
  • 5.1.4 Insurtech
  • 5.1.5 Neobanking
• 5.2 By End-User
  • 5.2.1 Retail
  • 5.2.2 Businesses
• 5.3 By User Interface
  • 5.3.1 Mobile Applications
  • 5.3.2 Web/Browser
  • 5.3.3 POS/IoT Devices
• 5.4 By Country
  • 5.4.1 United Kingdom
  • 5.4.2 Germany
  • 5.4.3 France
  • 5.4.4 Spain
  • 5.4.5 Italy
  • 5.4.6 Benelux (Belgium, Netherlands, and Luxembourg)
  • 5.4.7 Nordics (Sweden, Norway, Denmark, Finland, and Iceland)
  • 5.4.8 Rest of Europe

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share Analysis
• 6.4 Company Profiles (includes Global Level Overview, Market Level Overview, Core Segments, Financials as available, Strategic Information, Market Rank/Share for Key Companies, Products & Services, and Recent Developments)
  • 6.4.1 Adyen N.V.
  • 6.4.2 Klarna Bank AB
  • 6.4.3 Revolut Ltd
  • 6.4.4 Checkout.com Group
  • 6.4.5 Wise plc
  • 6.4.6 Stripe Inc.
  • 6.4.7 N26 GmbH
  • 6.4.8 Starling Bank Ltd
  • 6.4.9 OakNorth Bank plc
  • 6.4.10 Solaris SE
  • 6.4.11 Mambu GmbH
  • 6.4.12 Tink AB (Visa)
  • 6.4.13 Onfido Ltd
  • 6.4.14 WorldRemit Group
  • 6.4.15 Rapyd Financial Network
  • 6.4.16 Pleo Technologies ApS
  • 6.4.17 Qonto SAS
  • 6.4.18 Tide Platform Ltd
  • 6.4.19 LendInvest plc
  • 6.4.20 Funding Circle Holdings plc

7 Market Opportunities & Future Outlook

• 7.1 Digital Payments & Instant Account-to-Account Rails
• 7.2 Stablecoins & Digital Asset Payment Infrastructure