Finland is definitely one of the most tech-developed countries in the world and this has reflected not only in the number of fintech startups but their success rate and influence, even outside of the country. Finland has embraced the Startup culture and has given a lot of your entrepreneurs a chance to offer something unique and useful to the public, through many funding options and an overall welcoming attitude. The society among the government has embraced the idea of fintech revolution and the adoption levels are also quite high, especially compared to the rest of the world. Finland is definitely amongst the leaders in fintech innovation and adoption and serves as an example for many to follow. 

Services like these are especially important to businesses that operate exclusively online, like gambling and online gambling. When making these transactions through banks there are many factors that come into play, that could actually make the transaction more lengthy and possibly even decrease your credit score considering the banks are seeing that you are making this payment to a casino. Casinos that operate online could definitely benefit from services like these and innovative payment methods in general because it makes the transactions faster and safer for both parties and it allows the players to enjoy their wins much faster compared to using regular banks and cards for transactions. Increasingly Spinia.com Finland, which is one of the best performing platforms in the country alongside its competitors, are choosing to work with fintech like these, instead of partnering up with banks. Online casinos have earned greater customer satisfaction through these innovative payment methods and other industries will likely follow soon. 

There are a couple of fintech from Finland that have now reached international recognition, offering unique services to customers across Finland, both to businesses and individuals and are currently creating a new standard for the industry. We’ve combined a list of 5 most famous Finnish fintech and how they got to their current level of success.

Ferratum

Ferratum is one of the pioneers of the industry not only in Finland but worldwide and has been offering mobile payment services since 2005. With 15 years of experience, the company really is an example for every other company trying to get into fintech on how to maintain respect, create innovation while also raising the standard for the up and coming field like fintech. The fact that Finland has always stood out amongst other countries across Europe with its tech-savvy approach is evident. Ferratum is one of the companies that originally drew attention to the country’s flourishing fintech systems. Ferratum is an international mobile financial service provider and its headquarters are located in Helsinki. The company is offering automated banking services with a centralized technology infrastructure and offers services like Microloans, Plus Loans, Credit Limit, Ferratum Business, Mobile Banking and much more. Ferratum were amongst the first companies to introduce mobile banking to the masses and make it accessible for the wider audience. The founder of the company is the CEO of Ferratum to this day. Jorma Jokela studies accounting at the commercial college of Kuopio and now thanks to his expertise, Ferratum services are provided all across Europe, North America, South America, and the APAC. It also has the EU banking license, which is something that most newer fintech companies can’t really brag about these days. This company has to be one of the few companies that provide fintech services but are also on the same level with trust and reputation as regular banks, which is a position that all these fintech are striving to achieve because it allows the customers to engage with the company that offers easy and fast services while also feeling the safety that one feels when making transactions through banks.

Invesdor

Unlike Cloud Asset, this company is an Equity Crowdfunding platform and has been operating for over 8 years now. Invesdor works primarily on Nordic entrepreneurs who want to sell some of their entity’s equity, but they aren’t limited to who they want to sell these entities to. Invesdor connects these young entrepreneurs with Investors from over 70 countries. The startup was awarded a 2019 European Business Awards and is a licensed service across Finland. Unlike most firms that offer the same service, they offer limited due diligence on these entrepreneurs, the companies and their background, excluding advice regarding the business opportunities, the risks and so on. 

Zervant

Zervant is a fintech from Finland that makes paying invoices easier across Europe. While operating from Finland, its services are accessible everywhere across the continent. Paying invoices is actually a big hustle for businesses and individuals and not because it is an elaborate procedure but before meeting the deadline can be especially hard because of the entities involved in the payment process. With this startup, you can now pay your invoices and do it from wherever because of the innovative B2B invoice payment system. This is an online invoice system that will verify the public data, and make your transaction safer when engaging with the new supplier. This service, which is made possible by just adding a link to the card payment, will reduce the time it takes for most people to pay an invoice to 20 days, from the regular 60 days. 

Mash

This startup offers a payment solution that is integrated into an existing check-out process. Mash offers these services for instant payment to retailers at points of sales and offers to replace a credit card. By using the social security number and a uniquely generated code, the user received an instant decision on their credit approval which makes the shopping that much easier. The stores are being paid upfront and the approval for the credit is much quicker. This is definitely the future of shopping and Finland is one of the first countries to use these methods on such a wide scale.

Arantio

This is a service that offers payment and retail services. They work in two main directions, with the first one being a Contextual payment. The users will be able to choose their desired item from the menu and pay in advance, speeding up the process and simplifying not only for themselves but for the staff as well. This new method will allegedly result in higher turnover for the restaurant. Another dimension of the same startup is Targeted payments and allows the person or a company in charge to set limits on what type of retailers might receive this funding. This tool will be extremely useful for the insurance providers and parents who wish to monitor the spendings of their kids.