Last year was certainly very unusual for the financial and insurance sector. A turbulent geopolitical situation, burgeoning inflation and the jump in interest rates introduced by central banks worldwide together rapidly changed the financial landscape.
Innovation, however, did not grind to a stop. In 2022, Politecnico di Milano’s Fintech & Insurtech Observatory surveyed 1392 fintech start-ups based in Europe (81% up on 2020), finding that they raised $35bn in total over the past five years (73% up on 2020) – an average of $25m each.
