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A significant drop in FinTech investments recorded last year: This competition provides a new opportunity for innovative startups with prizes up to 10,000 euros

More than 2500 attendees will hear brilliant ideas from the top 10 teams at the new edition of the Money Motion conference in Zagreb

A significant drop in FinTech investments recorded last year: This competition provides a new opportunity for innovative startups with prizes up to 10,000 euros

by
Uncategorized
January 29, 2024

Investments in financial technologies experienced a significant decline last year. In the third quarter of 2023, the value of investments decreased by 36 percent compared to the previous year, with a total of 6 billion dollars invested in FinTech companies and their new solutions on the market, as concluded by an analysis from S&P Global Market. Alongside the decline in invested capital, the number of transactions also decreased.

However, experts caution that these are positive developments and may indicate a serious maturation of the FinTech market. Despite the decrease in the number and size of investments, experienced startups, already in later rounds of capital attraction, maintained their volume and number of investments, regardless of the rest of the industry.

In an interview ahead of the largest regional FinTech conference – Money Motion 2024 – Božidar Pavlović, CEO of Jackie agency with over 25 years of experience in banking, finance, and new technologies, explained that nothing surprising is happening:

“Investment cycles have always had their ups and downs, affecting not only FinTech. Global events have simply taken their toll. However, we see the first signs of recovery, and I am confident that we will see many more investments in the near future. Nevertheless, compared to pre-crisis times, strong alignment of products with market needs and demonstrating traction will be more important than ever.”

A new investment cycle is starting in FinTech startups that can prove their growth, sustainability, and innovation in solving specific user and societal problems, as confirmed by a new report from the global consulting company McKinsey, announcing the maturation of the entire FinTech market.

Teams already achieving this with their solutions will have the opportunity to join the Money Motion Startup competition again this year. The top 10 applications will be selected to pitch their business solutions and plans before a jury of six investors and industry experts. The top three startups will share a prize pool of 10,000 euros, and their names will be heard by more than 2500 attendees at this year’s conference, taking place on March 21st and 22nd at the Zagreb Fair.

All startups working on technological solutions in the fields of banking, financial management, investments, insurance, crypto trading, and other financial technologies are invited to apply for the competition on the conference’s official website. Applications are open until February 15th, and the pitch competition will take place during the first day of the conference on the startup stage under the patronage of the Croatian Agency for SMEs, Innovation, and Investments (HAMAG-BICRO), the most important government agency for supporting small and medium-sized enterprises and an essential address for young and talented innovators developing their products and services to the commercial level using European funds and competing in the global market.

“As innovation is the driver of growth and development in the Croatian economy and a significant competitive advantage, it is extremely important for us to establish contacts with young entrepreneurs and monitor their development. Therefore, conferences like Money Motion are significant as they bring together all stakeholders in the startup system, from investors and mentors to young entrepreneurs and innovators,” said Marijana Oreb, a member of the HAMAG-BICRO management. She added that they believe this year’s conference will attract even more visitors, and their collaboration will yield many successful innovative products and services.

The Money Motion Startup program and competition as a separate entity on its stage were created with the organizers’ desire to leverage their knowledge, connections, and resources to bring together all the key steps for the success of FinTech startups in one place. Each of them aims to change the world and become a successful corporation, believes Luka Sučić, co-founder of Money Motion. Corporations are attracted to innovative ideas from startups that have the potential to disrupt their business models one day. However, it often happens that a corporation, due to fundamentally different functioning and its requirements, can quickly stifle a startup with a small team.

“That is precisely why we designed the Money Motion Startup program. We have experience in startups but also in working in corporations, and we know how to help both sides find a common language. Through the Money Motion Startup competition, a startup will not only gain exposure but also receive crucial feedback from people to whom they will soon offer their services,” he says and adds:

“Networking is the last but not negligible part of the story – Money Motion is neutral ground where startups and corporations can mingle without either side feeling threatened or out of place.”

The Money Motion Startup stage announces a rich program that will address various topics related to the development and growth of FinTech startups through different lectures, panel discussions, and fireside chats. They are bringing in leading regional venture capital funds such as LAUNCHub Ventures and GapMinder Venture Partners, accelerators, and experts, as well as globally successful FinTech companies that will share their journey with the visitors, confirmed Lana Ugrčić, coordinator of the Money Motion Startup program.

“We believe that by fostering a strong community that exchanges information and mutually supports each other, we can collectively drive the FinTech industry forward, making significant strides in financial technology and its application in today’s rapidly changing world,” concluded Ugrčić.

Applications for the Startup Pitch, more about the Startup program, the main and brand new FinTech 2030 stages, and tickets for the conference can be found on the conference’s official website. Currently, Early Bird tickets are on sale for 199 euros and student tickets for 49 euros.

In her keynote, Anna will delve into the forefront of payment technologies. She will guide you through emerging technologies, including recent developments in AI and explain how they can be effectively integrated into payment solutions and platforms.

She will share her insights into the ways payment transactions can be redefined and reengineered. She will provide examples of how payment processes and flows can be streamlined through open banking, a2a payments as well as payment orchestration. Learn how these technology advancements are not only reshaping payment transactions but also enhancing the overall customer experience. In her session, Anna will also explore the evolving role of embedded payments and their transformative effect on the merchant payment value chain.

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The discussion will focus on the impending digital and cashless transformation of the payments industry, driven by market participants including merchants, customers, banks/financial institutions, and payment networks. Key areas of exploration will include advancements in instant payments, the influence of the European Payment Initiative, and the future landscape of payment facilitation and acceptance.

Additionally, in this panel we will explore the impact of emerging technological trends such as SoftPOS adoption, regulatory frameworks like PSD3 and the Digital Euro, evolving business models like BNPL services, the diminishing use of cash, and discussions on cross-border payments and cryptocurrency integration, all of which are shaping the evolving nature of payment systems within Europe.

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At Mastercard, we strive to connect and power an inclusive digital economy that benefits everyone, everywhere. For almost 60 years, leveraging our global innovations capability, we work to digitize payment services across all channels and devices. Delivering payment value where speed, security and convenience matter most, and digital solutions solving consumers’, small and large businesses’ needs. Building trust in a digital world and embedding our social impact initiatives and ESG commitments into our core. Connecting everyone to priceless possibilities.

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What changes has open banking brought so far? What difference has it made and how? Who are the main drivers and players? Can open banking replace cards and what will it take? We will explore some of the open banking models around the world, use cases, lessons learned and what will the transition to open finance entail.

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The panel will cover the financial landscape's evolution from open banking to open finance. It addresses the development, challenges, and forward trajectory of alternative business models. The session will dive into impactful use cases while examining the implications of the latest EU regulations, lessons learned from existing regulations and anticipates changes with PSD3.

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In an increasingly digitised world, an elevated level of sophistication and personalization is expected from the banks when approaching the customers. To meet such expectations, not only a thorough knowledge and understanding of the customers' needs, but also an attentive customer-centric relation is needed. The banks should be able to know when, how and what to offer to their customer, taking into account their financial profile, as well as contemplating a well-thought engagement and communication strategy.

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In this panel, we will discuss the importance of data in today’s AI world.  First, we will cover what ChatGPT brings to banking and AI, demystifying whether it is a myth or a reality and how that fits enterprise users. Current generative AI offerings mainly focus on general models, but what about specialists’ models and their future?

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The panel will delve into the intricacies of the Digital Operational Resilience Act (DORA), the pioneering European framework that came into effect on January 16, 2023. By 17 January 2025, over 22,000 financial entities and ICT Service providers across the EU are expected to achieve compliance with this regulation. This, among other important activities, implies that millions of contracts within the EU will require renegotiation, placing a critical emphasis on fulfilling value chain requirements.

The panelists will try to unravel the essence of DORA by addressing key questions: What are the key requirements of DORA? How can financial institutions navigate their most pressing challenges, and why must organizations of varying sizes adopt distinct strategies? Is the talent pool of IT Risk managers adequate, and how will cyber teams be impacted? And most importantly, can we make it on time or are we already behind schedule in our preparations?

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Experience the Battle of the Decade firsthand! 

Hrvoje Cosic, the CEO of Aircash, is set to go head-to-head with the heavyweight champion Andrius Biceika, a distinguished board member at Revolut. This epic showdown will delve into numerous sensitive and even a few embarrassing topics :) such as the role of neobanks in Croatia and the broader region. Join us as we explore their respective exit strategies, identify fintech champions and contenders, and uncover their perspectives on various subjects like gambling, digital euro, and Apple Pay.

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The panel discussion explores Central Bank Digital Currency (CBDC), covering its definition, motives, and future implications such as its coexistence with current and future versions of digital money (deposit money, stablecoins etc). It addresses implementation challenges, competitive ecosystem building, CBDC as a public good, anonymity concerns, public authorities' roles, and the European Commission's digital euro proposal.

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Why would anybody use stablecoins? Except for trading of cryptocurrencies, ofcourse. What problems do we have with the current financial system that stablecoins solve? And, are they really so dangerous that central bank digital currencies were created just to stop stablecoins from taking over the world? Nadiem and Nikola deeply believe that stablecoins will have a pivotal role in shaping the future of money, come hear them chat about that.

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(coming soon)

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We will discuss the evolving landscape of financial technology, highlighting both challenges and opportunities for the next decade. Sigal, with his extensive background in FinTech and venture capital, will share insights on recent trends such as the impact of rising interest rates on funding, the stabilization of FinTech exits, and the promising outlook for FinTech IPOs. The presentation will also look into emerging disruptive technologies and the importance of understanding investor motivations for startups navigating the FinTech space.

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The panel will explore critical issues such as regulatory hurdles, market fragmentation, and funding challenges. It will look into the need for collaborative efforts between startups, investors, and other ecosystem stakeholders to foster a conducive environment as well as supportive policies to nurture the FinTech ecosystem.

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The talk will delve into the hurdles startups face, the support provided by European public sector institutions, and effective strategies for securing public sector grants. It will outline the availability of grants and other forms of support from the European Innovation Council (EIC) for startups and scaleups. Additionally, the talk will highlight success stories of Croatian startups that have leveraged grants to develop and scale their innovative products and services, offering valuable insights and guidance for emerging fintech enterprises in Europe.

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(coming soon)

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