The FinTech market in Russia is actively developing; this industry has been and remains one of the most promising in terms of both growth rates and investment attractiveness. Growth activity can be estimated by at least doubling the number of fintech companies from 2021 to 2022. According to the Skolkovo Foundation and the Banking Review magazine, during this time the number of companies has doubled - from 100 organizations to more than 200.
You can get acquainted with the map of startups here at this link. The list includes 200 residents of the Fund who are developing solutions for the financial market. About 90% of startups on the presented map generate revenue, and 15% have entered the international market. About the details - under the cut.
Information security in the lead
The most active, as far as one can judge, are developing companies offering solutions in the field of information security. The rating included 36 startups at once, which specialize in solutions to combat financial fraud, protect electronic document management, and provide comprehensive infrastructure protection for organizations.
In second place are companies that work in such areas as AI in Finance and Automation - 28 startups each. The AI in Finance category includes companies developing smart voice assistants, various types of information recognition systems, and other solutions based on artificial intelligence technologies. Along with a variety of platforms for creating software robots, Automation group companies are implementing promising ideas for modeling digital twins of business processes, orchestrating business services and other tools for building end-to-end digital processes.
Finally, in third position are companies developing solutions in the industry of scoring technologies for lending, there are 27 such organizations in the list. Their technologies facilitate the task of making decisions on approving or refusing a loan. In addition, they also automate the process of issuing loans using machine learning algorithms.
“Over 5 years of work, we have managed to collect a portfolio of the top 200 Russian fintech companies, as well as attract 12 top leading partners in their industries - IT, consulting, leading banks, online trading, telecom. There are currently 936 unicorn companies in the world and 190 of them are fintech companies. The concentration of fintech among decacorns is even higher - 9 out of 35. I hope that analytics and help in attracting the attention of partners and investors to fintech startups will help our residents to be included in the Global Unicorns list. We are open to cooperation and will be happy to share the best practices for launching fintech projects or tools for introducing innovations in corporations,” commented Pavel Novikov, Director of the Center for Innovation in the Financial Sector of the Skolkovo Foundation.
Who else?
In addition to those already mentioned, the list includes companies with payment solutions that allow you to use a wide range of tools
for payment processing, business management and banking sector optimization. Startups offer technology for digital wallets and loyalty programs, the insurance sector and KYC. A large group is made up of investment technology and marketplace solutions providers. And those financial institutions that have fully entered the image of a digital company are offered innovative solutions for managing digital assets.
The embedded finance category includes companies that develop embedded finance management platforms that help banks create a system for distributing their finances, and clients to manage their money efficiently.
It is worth recalling that the map of fintech startups is available at this link.
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