Here you can find a report: Polish fintech sector during the pandemic
How do Polish fintech companies run during the pandemic? How much did they lose and how much did they gain? Did they have to dismiss employees and reduce costs? What about forecasts for fintech sector in Poland? Answers to these questions can be found in our report.
Good development prospects
At the beginning of April, the pandemic had a negative impact on the fintech sector in Poland. More than a half of fintech companies lost their revenue. Unfortunately, 45% of fintechs in Poland had to dismiss employees. But despite this, the Polish fintech sector has good development prospects due to the increase of consumption of online service. Poland is still one of the most promising markets.
- Half of fintechs in Poland recorded a significant drop in revenues – by 40% on average.
- Every 12th fintech in Poland lost an investor
- 45% of companies had to dismiss employees or reduce salaries.
- 63% of companies had to cut costs.
Remote work in the Polish fintech sector
- Nearly 62% of fintechs have completely switched to remote work.
- 70% did not have to bear any costs in this respect
- Among companies that had to prepare their teams for remote work, the average expenditure for this purpose was 2.500 EUR.
Back to normal // Back to the new normal
- Nearly 70% of fintechs believe that the market will get back to normal in Q2 2021
- Fintechs predict that consumption of online services will increase. Paperless services and e-commerce will benefit the most from the pandemic.
- Lendtechs and startups in seed stage are the ones most negatively impacted by the pandemi.
The Polish fintech sector is a dynamically developing ecosystem, whose services are already used by over 20 million Poles. Fintek.pl has been supporting the Polish fintech scene since 2016.