AMSTERDAM : “Europe’s Fintech Funding Slowdown Dampens Amsterdam Event”, Europe’s fintech industry faces an uncertain future after funding squeezes over the past two years brought lofty pandemic-era ambitions and valuations down to earth, but some are optimistic that lower interest rates will spur a recovery.
While speakers and organizers remained optimistic about artificial intelligence, delegates at the fintech conference in Amsterdam this week expressed a mixed mood.
Speaking to Reuters at the Money20/20 conference, Damien Dugauquier expressed hope for a positive change in Europe’s fundraising environment. He noted that many exhibitors at the conference were emphasizing crypto or AI technologies.
As the conference commenced on Tuesday, AI emerged as the buzzword, featuring talks from prominent European tech firms like Mistral AI. Notably, a “co-host” AI chatbot interviewed on stage encountered initial malfunctions, while a mind-controlled beer-pouring robot captured attendees’ attention on the show floor.
Fintech – or financial technology – companies have been struggling since 2022 to raise money needed to bankroll their operations after central banks raised rates to combat inflation, ending the era of free-flowing cash.
Dugauquier, who recently closed a $5.3 million funding round said: “It took us eight months whereas I guess two years ago it would have taken three months. So it’s getting better but it’s not back to the crazy days for sure.”
