Say ciao to new ItaliaFintech association
A group of domestic and foreign players in Italy have set up the sector’s first trade association, ItaliaFintech.
Its goal is to help companies and individuals get access to fintech services, foster dialogue with “traditional” institutions and turn market growth into real development.
The 19 firms are BorsadelCredito, Conio, Credimi, Epic, Fifty, Housers, Lendix, Modefinance, MoneyFarm, N26, Oval Money, Let’s Lose, Raisin, Satispay, Soisy, Soldo, Virtualb, Workinvoice, and Younited Credit.
Ignazio Rocco di Torrepadula, founder and CEO of Credimi, says it will “facilitate the access of Italian companies and individuals to new sources of financing and innovative services in the fintech domain” and be a “point of contact for regulators”.
According to ItaliaFintech, the 19 companies combined have a Europe-wide portfolio of over 920,000 customers, of which 425,000 are located in Italy.
The members’ savings, loans and managed payments amount to €450 million and their total investment capacity is €253 million.
ItaliaFintech will be chaired by each of the members in turn. Rocco di Torrepadula will be the spokesperson for the first half of the year.