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What is Fintech, definition, sectors and examples of startups

What is Fintech? Can we trust Fintech? How can I benefit from this new financial stream? The concept of Fintech  is still in the process of being defined as it is a relatively recent term and that little by little we will see how it is emerging.

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The origin of Fintech is the contraction of the English words ‘finance’ and ‘technology’, which encompass the services of companies in the financial sector which use new technologies to create innovative financial products.

Index of contents


  • What is Fintech?
  • 6 Fundamental objectives of Fintech initiatives:
  • What are the areas and sectors on which Fintech acts
  • What is the current state of Fintech and what are your expectations for the coming years?
  • Examples of the most relevant international Fintech startups
  • Examples of Fintech companies in Spain
  • What is the process to start taking advantage of Fintech?

What is Fintech?

In principle, we can define Fintech as a concept that brings together those financial technology companies that try to contribute new ideas and that reformulate, thanks to new information technologies, mobile applications or big data, the way of understanding and providing services financial

The latest in Fintech: decentralized finance
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6 Fundamental objectives of Fintech initiatives:

  1. How new financial services can be offered
  2. How to add value to today’s financial services
  3. How to disintermediate financial products that can be offered person to person
  4. How to make current services more cost-efficient
  5. Allow more access to financial services , or allow greater transparency in the financial offer
  6. Use technology to provide better solutions to financial services

What are the areas and sectors on which Fintech acts

  • Mobile banking
  • Big data and predictive models
  • Compliance
  • Crowdfunding
  • Cryptocurrencies and altcoins
  • Forex market
  • Automated process management and digitization
  • Risk management
  • Payments and transfers
  • P2P loans
  • Insurance
  • Security and privacy
  • Financial advisory services
  • Trading

What is the current state of Fintech and what are your expectations for the coming years?

Based on the numbers, we can assure that it is a sector that has come to stay and that there is no doubt that some financial institutions such as BBVA have already moved to clearly position themselves in this transformation of the financial sector promoted by Fintech. Worldwide, in just three years the alternative financial market grew by 48 percent. Within European countries, Spain ranks as the sixth largest alternative financing market, growing from 6.3 million in 2012 to 2 trillion in 2014. In Spain, around 60 million euros in financing were moved last year alternative, a figure that shows the consolidation of Fintech companies in our country. For example, only Spanish Fintech already brings together more than 300 Spanish SMEs and freelancers. Only through these Fintech platforms, 5 million euros have been financed and it has grown by 240 percent in the last year. Fintech financial services startups are the most promising in the world according to the most active investors in recent months.

Examples of the most relevant international Fintech startups

  • Adyen: Multichannel payment service. It provides payment services to about 3,500 businesses, including Facebook, Uber, and Airbnb.
  • AvantCredit Online consumer loans. It uses algorithms and machine learning with artificial intelligence, to offer personalized personal loans.
  • Betterment Automated Investment (Robo Advisors) that simplifies the investment process.
  • CommonBond: P2P student loan market with data algorithms to calculate financial risk.
  • Etoro: Social Investment Network. The social trading platform offers its users access to global markets allowing them to see other investors and invest in them by automatically copying their operations.
  • Ant Financial Services Group serves 20.87 million small and medium-sized enterprises (SMEs) in 2019 alone.

Examples of Fintech companies in Spain

  • Arboribus (Crowdlending)
  • Captio (Business Expense Management)
  • Kantox (Currency exchange)
  • Novicap (Invoice Discount)
  • ExactaTax (Automatic Billing and Accounting for Freelancers)
  • Zank (Financing for individuals)
  • Launch us (Crowdfunding)
  • Bestaker (Equity Crowdfunding)
  • Fintonic (Financial aggregators)
  • Finanzarel (Discount of invoices and promissory notes)
  • Arboribus has achieved a financing volume of € 19,708,810 with 442 companies financed.

Regarding its activity in Spain, where there are already 385 companies of this type, credit companies occupy the first position. Behind we have those dedicated to electronic payments, which account for 15.06% of the total. Investment companies and organizations offering accounting and tax solutions would total more than 22%.

If we focus on the territory in which they operate, Madrid concentrates 56% of this type of companies. It is followed by Barcelona (19%) and Valencia (7%).

But what entrepreneur profile is behind these companies? According to the aforementioned study, 93% of the companies in the modern financial industry were started up by groups of entrepreneurs, while 7% created it from a company already on the market.

Regarding the attractiveness of this type of company for investors, it should be noted that last year more than 190 million euros of financing were raised, and that for five years more than 400 million euros have been raised in more than 240 rounds financing.


This map shows the variety and quantity of existing companies in the Fintech sector in Spain:

What is the process to start taking advantage of Fintech?

Most of the companies mentioned above if they are characterized by something is the usability and ease of use of their applications. In other words, simplicity, innovation and added value for the user predominate, which in itself is already a plus. The process is very simple, you just have to create an account and, depending on the case, define your role as an investor, as a provider or as a service seeker. In the sector there are also many collaborative consumption platforms that further democratize access to financial services , generally with fewer obstacles and also with better conditions for the investor and the applicant.

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How to Create Account in EXMO step by step

In this article you will learn how to register in EXMO in 2022, as you well know it is a cryptocurrency platform to trade, as well as buy and sell digital currencies. Next, we are going to make you a quick and easy guide to create your account.

How to open an account in step by step

Access the official website of EXMO to be able to register for free.

Select “Registration”

At the top right you will have a Registration button, click on it and there you will open a form to place basic data such as username, email, telephone, password and its confirmation, as well as the acceptance of terms and conditions of the platform.

Likewise, if you want you can subscribe to receive news you just have to activate the option. then activate the captcha and click on “Registration”

Phone and email verification

They will send you an SMS to the registered phone to place the verification code and give it confirmation. The same will happen with the email, in which they will send you an email with a link to confirm the account and activate it.


Account Verification

Once you have completed all the registration, you must verify your account, this is quite important that you do it so that you do not have limitations, it is a financial platform and as such, by regulation you must verify your identity and address.

  • For identity, you can do it through your ID, passport or other identity document, also a selfie with the document, you can support yourself by linking the mobile if you do not have a webcam.
  • In the case of the address, it would be verified with a bill for services such as electricity, water or other document where they can verify your location or residence, this is to raise the limits further.
  • For the card, you need to enter your card details and even take a photo and attach it.

Ideally, you should verify everything, but the first thing is the identity, in which you will be required name, surname, middle name in the case you have. Secondly, you will be asked to identify what type of document you are going to use to identify yourself, for example, the DNI.

After that, you must upload a photo of the front and back of the identity document, if you do not have them at hand, you can do it with your mobile and send it to you by mail or web whapsapp or another application, and then upload it from the computer.

Once this is done, it will request a selfie with specific details, where you must write down on a paper the word EXMO, followed by the date of the day of the photo and hold the DNI without covering anything, there you capture the photo and attach it, with these steps you will already be in the process of verifying the identity.

Likewise, you can do it to verify the address with a receipt and in the case of the card you must do the same, they are similar processes quite simple, the idea is that you complete the entire registration process.


Another important point regarding registration is the security configuration in which you can add extra protection and have two-step authentication. Likewise, you can observe other options such as personal information, which you can review carefully.


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How to create an account on Poloniex step by step

In this article you will learn how to register with Poloniex in 2022, it is a cryptocurrency trading platform, where you can trade with margin or leverage and you can also do hodl. Here’s a step-by-step way to create an account on Poloniex.

Go to the official website of Poloniex

Access the Poloniex registration page to later follow the step by step that we will give you to register for free.

Select “Sing Up”

Once you are on the platform you must select in the left menu “Sing Up”, where you must enter the email and password, the latter you must confirm it. Additionally, you must place the referral code (optional), as well as accept the terms and policies that govern this page.

Verify your email

Once the previous form has been completed, you must check the email where a link will be sent for the purposes of verifying the email, in order to continue with the account registration process.

Account access

With the email and password data entered, we select “Log In” and access. Among the important things that there are is the “profile”, where you will have to verify your account.


If you want to apply margin for trading or leverage you must verify your profile in “Upgrade” you will be able to select other aspects that will help you verify your identity, you will probably be asked to upload a file, such as a photo of the DNI or an invoice to verify the address.

Then, in the event that you want to use the future option that allows margin up to one hundred leverage, you have to have verified these things.

This request is totally normal, since it is required by all financial platforms by legal issue, with this you would already have verified level 2 and with it you would not have any type of limit.

Right now, you could make all kinds of deposits, normal purchases with certain fairly high limits.

Two-factor authentication verification

To protect your account you can activate 2FA this is double authentication code, so you must enter a code apart from the password to be able to log in.


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How to Invest in Cryptocurrencies on Skrill

If you are one of those investors who do not like to deal with many complicated orders, but prefer to hold long-term, then Skrill is an excellent alternative for you. With the simplicity that characterizes it.

But the question is, how to invest in cryptocurrencies within Skrill? The answer will be shown in this article.

But first log in to your Skrill account, then you could already start the step by step that will be shown below.

Access Skrill’s Cryptocurrency Investment Options

Like any financial platform, Skrill puts at your disposal tools so that you can invest in cryptocurrencies within yourself, doing so in a simple and comfortable way. To access these tools, below, we will describe the following procedure:

  1. Within the home screen of your account, in the left sidebar, find and tap on Cryptocurrencies.

Important: It is likely that when you enter this section, you will be asked to accept some terms or similar.

  1. Once there, you are presented with different options in terms of cryptocurrencies. From among these, you will select Invest now, clicking on this option.

  1. Once you access that section, you will be shown an extensive list of existing cryptos in Skrill. In each of which, you are given a Trade option. If you click on any of these, you would enter their trading options.

  1. When you have entered the crypto you chose, you will see a Buy – Sell panel.

Ways to trade cryptocurrencies in

In this buy-sell panel or trading box, you will have some options that will allow you to perform these operations:

Steps to buy cryptocurrencies within Skrill

First of all, talking about the purchase of cryptocurrencies in the Instant mode (which is the usual one), you will be able to do the following:

  • Select the currency in which you want to buy cryptos.

  • Set the amount to spend that, for its purposes, must be a minimum of 10 EUR (You are also shown the balance you have available).

  • Select the cryptocurrency in which you are going to invest.

  • See what you are going to receive in cryptos in equivalence for what you have invested.

  • See the commission you will be charged for that transaction.

When you have everything ready, then you can click Next.

After this, you will be able to see the summary of the entire operation; you will be told everything you have added, such as the amount and what you would receive, and also the commission charge, which will be added to the total amount to be spent. If you agree with everything, you can click on Confirm.

Steps to Sell Cryptocurrencies within Skrill

There is not much to comment on in the case of selling your cryptos within Skrill, as they are basically the same steps as in the case of the purchase:

  • You establish the type of crypto that you are going to sell (and that logically, you should own).

  • You indicate the amount of cryptocurrencies to sell directly or, if you prefer, using the percentage indicators.

  • Select the currency in which you want to receive the funds in equivalence.

  • See how much you will receive, in the same way as the previous case.

Having this ready too, you would click Next.

Following this, you must also click on Confirm in a summary similar to that of the case of the purchase, where you will see important data with which, if you agree, you can proceed to the respective confirmation.

Some other options that Skrill gives you to trade

The options you have in Skrill to trade are very practical and easy to use. And for your convenience, they are not numerous. Here’s what you can find on Skrill for when you want to trade on it:

The Portfolio section

In this section you have at hand some useful things for your negotiations, such as:

  • The Watchlist, with which you can keep abreast of the indices of your cryptos in the market.

  • Alerts and orders. With these options you are given the possibility to mark an index within the cryptocurrency, which, if the price reaches it, this will be notified to your email or mobile, as you have it configured.

  • Recent activity. It is the section where you will get your last financial movements, when it comes to purchases and sales, as is logical.

The Trade section

Within this section, you can do what you are told below:

  • Visualization of Graphs. This will allow you to take a look at the stock market movement in a not at all complex interface (you can also see the current trend that the market has in terms of sellers and buyers).

As you can see, the trading system within Skrill is not complicated. They are few and simple options, but with the same utility for people like you who do not want to get too entangled in the stock market issue, but to play it safe, but in a simple way.

This tutorial summarizes it this way so that you have a general idea when investing in cryptocurrencies within Skrill.

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