12,000 FinTech connected and a thousand collaborations on the Finnovating platform in just 18 months
Letter from Rodrigo García de la Cruz (CEO of the Finnovating platform)
We have spent a few years in which the pandemic and later the energy crisis derived from the war conflict have not let the directors and managers of all types of companies rest. If digitalization was valued during the pandemic, during the last year efficiency has been one of the mantras to follow.
But in the end everything is united, digitalization and efficiency go hand in hand, so it is not surprising to see how most companies have undergone a drastic change in their strategies for external search of collaborators to improve their efficiency and accelerate further your digital transformation. And I say external because it is the easiest and fastest way to make an impact in terms of innovation. This is why we have seen a substantial increase in collaboration between FinTech and embedded finance solutions and corporations, which has increased 5-fold during the pandemic and will rise to 27-fold by 2025.
The great challenge we face is that the search, identification and collaboration spaces are very limited, coupled with the feeling that new innovative solutions and FinTech companies with new business models appear every day, generating some anxiety even for those of us who are within this sector.
But it is curious, since it is the FinTech companies themselves and embedded finance solutions that spend countless hours of their time identifying potential partners and finding decision makers among the great ocean of employees of large companies.
The Finnovating platform in numbers
Many of you know me and you know that one of my main professional objectives in my last decade has been to connect the world of technological innovation of startups with the corporate world, the famous open innovation or 360 collaboration. And that is why a year and a half ago we launched the Finnovating platform, the only way to create global bridges, ordering the global ecosystem and democratizing collaboration between the parties.
As usual, many told me, and continue to tell me, that it is a complicated goal, but others also recognize how necessary it is and how helpful a B2B connection platform, which does not exist up to now.
The year 2022 was an important year for Finnovating, the year in which the user community had to grow, connect and do business, generating the necessary liquidity for a platform to achieve the famous «network effect» that is so talked about in platform models. But with the important nuance that we are B2B, far from what we are all used to in B2C.
And as an exercise in transparency, we have always liked to share our milestones achieved and our future objectives, since Finnovating belongs to each and every one of our members. In 2022 we have managed to attract FinTech, InsurTech, PropTech and embedded finance and embedded insurance solutions from 125 countries, becoming the benchmark that will connect Latin America with Europe.
We closed 2022 with a penetration rate of 71% of Spanish-speaking technology startups, that is, 7 out of 10 have registered with Finnovating with the aim of connecting with customers, partners and investors worldwide, but all through a single channel that allows them to scale their business. In Europe we have already exceeded 3,000 FinTech connected and we are growing month by month.
Top countries who are members of the Finnovating platform:
|Countries by total number of FinTech registered on the Finnovating platform||Countries by % of companies registered on the Finnovating platform|
But the most important thing is the connections and value collaborations generated in it. Since the launch we have been able to overcome the 1,000 challenges launched by corporations, startups and investors with more than 15,000 applications. In these, agreements and collaborations have been generated for an estimated value of more than 100 million euros. But also, creating a hyper-efficient space to search for the solutions that best suit each company, putting data and success-oriented artificial intelligence algorithms in value.
I would say that we reduced the time to find the right partner to weeks instead of months (1 month instead of 6, reducing the scouting time by 85%).
Companies that have launched innovation and collaboration challenges on the Finnovating platform:
|Type of companies that launch challenges in Finnovating||Percentage|
|Banking & Financial Services||34%|
|Technological services & Cibersecurity||11%|
|Real Estate & Civil Engineering||8%|
|Data & Analytics||7%|
Next steps of the Finnovating platform
2023 arrives with a large list of tasks and improvements proposed by all our members. From the new multilingual option, including the Spanish language, to the creation of the best space in the world for the analysis and rating of companies for their collaboration, to the publication of validated profiles, so that it is easier than ever to identify companies with which work with complete safety and reliability.
In addition, we are working on continuing to grow, being even more global, and throughout this year we are also going to launch several sustainability initiatives that will be a milestone in the sector.
I want to thank all of you who are part of this great community and all of you who are supporting the Finnovating platform. This year, in addition to our usual meetings during the Unconferences in Latin America (Colombia, México and Panama…) I will be traveling to Asia, the US, the Middle East and northern Europe, countries where, in addition to already having clients, they are showing great interest in learning about and connecting with the first B2B FinTech platform that connects global innovation.
Thank you again for connecting with the world through us and for joining us on this path of becoming the B2B platform that connects innovation. The more we are, the more we will help you connect and get clients and partners!
If you are not part yet, I encourage you to join today, in 1 minute thousands of business and collaboration opportunities will open up to you and totally free. What are you waiting for?