The evolution of the Italian Fintech ecosystem

The EY Fintech Waves 2023 study, produced in collaboration with the Fintech District, reveals that the Italian Fintech ecosystem reached a high level of maturity and is constantly growing, thanks to international investments, strategic partnerships, innovation and new products and services.

According to the EY analysis, which includes a survey based on interviews with over 100 Italian Fintech companies, in Italy from 2016 to today, loans raised by the sector have increased with a CAGR of over 60% and, in 2022, they grew to 1,040 million euros, with a significant increase when compared to €900 million in 2021 and €247 million in 2020.

97% of Fintech companies plan to hire new talents over the next 12-24 months, despite the difficulty in finding specific skills in the Italian market. In terms of investments, they increasingly rely on international Venture Capital funds (+88%) than on personal resources, in line with the greater maturity of the sector and the need for growth and expansion beyond the Italian market.

Regarding Open Innovation, 90% of the Italian Fintech companies have established a partnership in the last two years, especially with traditional financial institutions, to launch new products and services.