Italy gets fintech trade group

Source: ItaliaFintech

In the latest sign of growth in Italy’s Fintech market, the country’s largest domestic and foreign players have set up the sector’s first trade association, ItaliaFintech

This group brings together the main vertical players operating In Italy, with the common goal of facilitating the access of companies and individuals to Fintech services, simplifying their understanding and user experience and actively collaborating to fostering dialogue with traditional institutions and companies in order to turn the potential for market growth into real development.

The nineteen leading Fintech companies that joined forces in ItaliaFintech are: BorsadelCredito.it, Conio, Credimi, Epic, Fifty, Housers, Lendix, Modefinance, MoneyFarm, N26, Oval Money, Let's Lose, Raisin, Satispay, Soisy, Soldo, Virtualb, Workinvoice, Younited Credit.

These companies combined have a Europe-wide portfolio of over 920,000 customers, of which 425,000 and growing are located in Italy. The members’ savings, loans and managed payments amount to 450 million euros and their total investment capacity is 253 million euros.

ItaliaFintech will be chaired by each of the members in turn. Ignazio Rocco di Torrepadula, founder and CEO of Credimi will be the spokesperson for the first half of the year.

“Fintech boosts the financial opportunities for Italian families and businesses and generates economic growth,” said Rocco di Torrepadula. “These numbers are just the beginning of an ever-accelerating rise. The members of ItaliaFintech will work as part of a team, together with similar European associations, to facilitate the access of Italian companies and individuals to new sources of financing and innovative services in the Fintech domain. They will also be a point of contact for regulators improving the understanding of the evolution trends and contributing to the ultimate protection of consumers.”

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