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IFZ FinTech Study 2025: An Overview of Swiss and Liechtenstein FinTech (HSLU Institute of Financial Services Zug)

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StudyHSLU Institute of Financial Services ZugJanuary 202593 pages140 min readOriginal source
Key number
511 companies
Swiss and Liechtenstein FinTech companies at end of 2024 p.3
Largest segment
259 companies
B2B-focused internationally oriented FinTech companies (51% of total) p.13
What changed
54 rounds
VC rounds in 2024, down from a record 87 in 2021 p.21

Summary

  • By the end of 2024, the Swiss and Liechtenstein FinTech ecosystem comprised over 511 companies.p.3
  • Financing activities totalled approximately CHF 300 million, only half the funding of the record year of 2022.p.3
  • The number of FinTech companies grew from 161 in 2015 to 511 in 2024.p.6
  • VC rounds fell to 54 in 2024 after a record high of 87 rounds in 2021.p.21
  • Zurich and Zug lead the sector with 187 and 125 companies by the end of 2024.p.11
  • A total of 389 FinTech firms were listed on stock exchanges worldwide by year-end.p.26
  • The IFZ FinTech Index has 157 constituents as of 31 December 2024.p.27

Key insights

  1. FinTech companies account for 5.6 percent of all businesses in the financial sector in Switzerland and 8.6 percent in Liechtenstein.p.7
  2. B2B companies dominate with 259 (51% of the total) among internationally focused FinTech companies.p.13
  3. Female participation in management teams rose to 13 percent in 2024.p.17
  4. Distributed Ledger Technology attracted CHF 174 million across 24 rounds in 2024.p.22
  5. Seed rounds dropped sharply to 16 by 2024, and Series B rounds fell to just twelve.p.21
  6. 57 companies operate at the intersection of FinTech and RegTech.p.20
  7. Of the 306 IPOs recorded in the global FinTech industry since 2010, 36 were subsequently delisted.p.25
  8. Total company numbers rose from 505 at the end of 2023 to 511 at the end of 2024, with six newly founded companies.p.8

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