Milan is a global hub for financial and business services and it is home to 4579 multinational companies, employing more than 430,000 residents. 7 of the world’s top 10 multinational companies operating in the country have their branch office in Milan - including Google, Facebook, Microsoft and Cisco.

The Venture Capital sector has experienced a strong growth. In 2018, VC investments in Fintech Firms were 13 times higher than those in 2017. Milano alone gathers 61,6% of the total VC investments in Italy. 

 

Let's have a look and the Fintech Industry of Milan! 

Borsa Italiana

Milan is home to the Italian Stock Exchange (part of the London Stock Exchange), which has 421 listed companies and a market cap of over €688 billion.

 

Milan is home to major financial institutions such as Unicredit, Mediobanca, Banca BPM and Intesa Sanpaolo, as well as global players like BNP Paribas, HSBC, Citibank and ING

SMART PAYMENT AND NEW BANKS

Banca d’Italia recently introduced “Target Instant Payment Settlements”(TIPS), which guarantees almost immediate settlement and is leading to exponential growth of new payment systems. As a result, Milanese fintech firms, such as Satispay and Nexi, are at the vanguard of smart payment solutions.

 

  • Smart payment companies’ revenues have grown 38% year-on-year.
  • In 2017, mobile proximity payments grew 600% year-on- year, and are expected to reach €15bn within 5 years. 

ALTERNATIVE LENDING

Milan’s alternative lending sector is strong and mature, with 75% of revenues generated by companies which are more than five years old. The revenues of this sector have grown 29% year-on-year. The city is home to numerous alternative lending companies which enable credit scoring, focus on business and/ or consumer lending, do invoice financing and offer comparison tools and marketplaces

INSURTECH

The Italian insurtech market has seen exponential growth in recent years, with insurtech companies’ revenues growing 97% in 2016 and 71% in 2017. Moreover, between 35 and 45% of Italians say they are willing to share personal data in exchange for more tailored insurance policies.