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Some fintech companies weather the storm better than others and see an end in sight. Startups that use AI to combat money laundering and fraud in particular appear to be benefiting from the back. Anna
Consolidation ahead
If you’re a freelancer in Europe, you’ve probably heard of Qonto, a challenger bank for individuals and small businesses that now has 400,000 customers in France, Italy, Spain and Germany.
I had a phone conversation with CEO Alexandre Prot earlier this week, and he used a metaphor that I found quite telling to describe the current state of fintech in Europe: a rainbow in a storm. “There are people who see the rainbow, and there are people who still see the storm,” he said.