Let’s celebrate neobanks!

Maxime Mandin
Jul 22, 2019 · 4 min read

It’s no secret: over the past decade, neobanks have flourished all over Europe, Starling, Revolut, Monzo, Qonto, N26, Lunar Way, Shine, Predictus, Nickel, BNexT, Anytime, … you name it. Some of them target the BtoC market, others focus on entrepreneurs or SMBs. Some stick to their country of origin, others prefer to expand as far (and fast) as possible… But most of them rely on a killer-app, an innovative offer or something for which they are the best-in-class. That makes each of them quite unique.

Given our focus on fintech and the transformation of financial services in Europe, at BlackFin Tech, we are monitoring this constantly evolving landscape. As the market matures, we believe it’s time for neobanks to have their own Award Ceremony, to celebrate the creativity and determination of the teams behind them. So let’s start the (virtual) show and give them some awards!

And our first award, for the best range of services goes to…

Revolut! Crypto, travel insurance, credits, saving accounts… the list of Revolut’s products is growing fast, in many directions. We’re eager to find out what’s next in store. But careful: make sure to stay focused! And don’t forget to take regulation into account…

Our next award celebrates the most ambitious vision… And it goes to…

Monzo! And more precisely to its charismatic CEO, Tom Blomfield, who aims at building a one-stop shop for all of his customers’ personal money needs… In 2018, the British Fintech (now also available in the US), chose to express this in a clear mission statement: “Monzo makes money work for everyone”. And they explain everything in a blog post.

We now want to give an award to the best… legal team!

Congrats to…

N26! They were first to ask for and to obtain a banking licence, and — cherry on the cake — they did so in a country where the regulator (BAFIN) is far from being the most flexible one. It’s also interesting to note that France is now the biggest market for N26. Bravo!

Let’s now reveal the winner of the award for the most impressive growth

It’s Qonto! Sure, 40 000 clients, it’s nothing compared to Revolut or N26’s figures. But here we are talking about the BtoB business. And Qonto’s job over the past two years has been impressive, especially given that some competitors in other countries are far from experiencing the same trajectory (for example Penta in Germany was acquired by Finleap, less than 2 years after its launch).

The French startup is now getting ready to conquer the Italian, German and Spanish markets.

One more? The award for the best brand identity goes to…

BNext. With one of the coolest logos of the fintech landscape, the Spanish neobank has a neat identity, that makes it stand out. Last but not least, it is doing very well in its domestic market despite the competition of N26 and Revolut.

And to conclude the show, a special award goes to the hottest bank

LunarWay, from the Nordics (“the hottest”, got it? ;)). Just have a look at its not-so-conventional Instagram accounthere or there, for instance.

What do you think? Did we miss a key award in the list? Let us know!

BlackFin Tech

BlackFin Tech

Thoughts and ideas on all things fintech & insurtech. Managed by BlackFin Tech, a € 180m independent European Fintech VC and its team

Maxime Mandin

Written by

Venture Capital Investor (0.5–10M€) in French, German, Benelux startups @Blackfin_tech, #FinTech #InsurTech #blockchain Formerly @SeventureP @XAngeVC

BlackFin Tech

Thoughts and ideas on all things fintech & insurtech. Managed by BlackFin Tech, a € 180m independent European Fintech VC and its team

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