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Portugal's fintech sector passes €1bn milestone
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According to the Portugal Fintech Association's annual report for 2022, fintechs have raised an aggregate of €1.08bn to date.
Blockchain and crypto-based firms have dominated the funding, accounting for 76% of the capital raised.
By far the biggest deal conducted over the last year was the €30.6m raised by Uphold, a digital asset trading company.
The fintech sector is also concentrated in Lisbon, Portugal's capital city, which houses 55% of firms, followed by Porto with 16%.
The report also shows that close to half the funding (48%) is provided by international investors.
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