The winners and losers of Europe's fintech growth funding drought

Over the past year, European fintech startups raising Series B and C rounds have nearly halved, with investors focusing their funds on a select few standout companies. Damisola Sulaiman, Sifted's fintech reporter based in London, and Ruggero Di Spigna, a Senior Insights & Product Associate at Sifted, provide updates on the latest trends in the fintech landscape.

Emerging from stealth, Early Revolut employees have developed an AI wealthtech startup called Haido. Monzo backer Eileen Burbidge has also invested in this startup, Starling Bank. Reports suggest that Monzo's CEO may step down after just two years, as the London-based fintech struggles to keep pace with the growth of its rivals Revolut and Mondo.

Notably, one fintech startup was not actively fundraising when it recently closed a $90 million round at an $800 million valuation. In this investment, New Enterprise Associates, Index Ventures, and Speedinvest participated.