Rainbow or storm?

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Some fintech companies are weathering the storm better than others and seeing an end in sight. In particular, startups using AI to fight money laundering and fraud seem to be enjoying tailwinds.— Anna

Consolidation ahead

If you are a freelancer in Europe, you have probably heard of Qonto, a challenger bank for individual and small businesses that now boasts of 400,000 customers in France, Italy, Spain and Germany.

I had a call with CEO Alexandre Prot earlier this week, and he used a metaphor I found quite telling to describe the current state of fintech in Europe: a rainbow in a storm. “There are people who see the rainbow, and then there are people who still see the storm,” he said.