X-ray of Fintech and Insurtech Investment in Spain (AEFI (Asociación Española de Fintech e Insurtech))

Summary

• Madrid captured 731 M€ (EUR 731 million) in fintech and insurtech investment between 2019 and 2024, the main investment hub in Spain.p.14
• Fintech and insurtech revenue in Madrid reached 262 M€, concentrating 38% of the total in Spain.p.18
• Madrid and Catalonia are the main financing hubs (82%) of fintechs and insurtechs, accumulating +1.7 Bn€ received in investment from 2019 to 2024.p.20
• Fintechs and insurtechs in Madrid recorded a CAGR of 8% between 2019 and 2024, above Spain's growth.p.17
• Fintechs and insurtechs represent around 5.5% of innovative companies in Spain over the last five years; the report takes 408 fintechs and insurtechs as reference.p.10
• Investment in regulation and compliance is highly concentrated in Catalonia, which accumulates 70% of the segment's investment.p.25

Key insights

1. Madrid ranks among the 45 cities with the highest volume of financing captured globally.p.14
2. AEFI brings together more than 200 companies, has more than 20 international alliances and represents 13 different verticals.p.3
3. AEFI groups 150 companies according to its admission criteria, out of an estimated nearly 800 companies with activity linked to the sector.p.10
4. Digital assets investment is highly concentrated in Catalonia (47% of the sector's investment since 2019).p.26
5. Fintechs and insurtechs are subject to PSD2, MiCA, DORA, the instant payments regulation and future PSD3, and to Ley 7/2020 (regulatory sandbox).p.11