FinTech Silicon Valley Jobs

How the coronavirus pandemic impacted the German Fintech sector

The main findings regarding the jobs in the Fintech sector
The big job massacre did not happen. For those 70 Fintech companies for whom today’s figures are comparable with those from April, Linkedin has exactly 10,041 employees, almost 300 more than six months ago.

Nevertheless, the real figures could be somewhat worse than those calculated by Linkedin. Therefore, it could rather be assumed that the number of employees has remained more or less the same sector-wide.

Except for Getsafe and Friday, the Insurtech companies (Simplesurance, Coya, Ottonova, Element) are almost unanimously among the job cutters of the last months. This may be due to the fact that it was precisely the insurance fintech companies that had increased their numbers in the 1-2 years before in the course of large funding rounds. But it may also be because the “Corona brings the ultimate digitalization push” thesis with regard to the insurance industry is possibly questionable. It also fits that Insurtech companies with the presumed exception of Getsafe have not really found much since Corona (the funding for Element was rather medium-impressive).

One segment that clearly (and unsurprisingly) seems to suffer from the coronavirus crisis is the credit fintech companies. From a 6-month perspective, they are all more or less down, namely Funding Circle, Monedo (in temporary insolvency), Compeon, Auxmoney, Fincompare, Finiata (no more new business in Germany), and Creditshelf. Exceptions are Lendico (whereby Lendico as an ING subsidiary is a special case) and once again Billie.

At the Hamburg-based deposit broker Deposit Solutions, the figures show a strikingly clear downward trend, not only from a 6-month perspective but even more clearly from a 12-month perspective and even more clearly from an 18-month perspective. Currently, the Fintech company has 195 employees on Linkedin, but according to its own website Deposit has “more than 300”, according to verbal information it is “around 300”. The company explained that the delta is mainly made up of out-skilled workers who would work for Deposit from India, for example. The total number of around 300 employees (including outsourced staff) has been relatively constant for a long time, apart from minor fluctuations. Read more via Born2Invest

Pemo Theodore

Pemo is a Media Publisher & Event Producer. She is CoFounder/CEO Silicon Valley TV She is the Executive Producer of FinTech Silicon Valley & organizes Bay Area FinTech meetup: Silicon Valley FinTech meetup & Blockchain Music meetup with almost 3k members. She has produced Silicon Valley Events for Investors & Startups 7 years. She video interviews venture capitalists & angel investors & FinTech experts. She partners with videographers to cover San Francisco Bay area startup conferences & meetups with livestreaming, video & foto packages Silicon Valley TV She is based in Silicon Valley & has been involved in online business for 14 years. She has been in small business for 46 years in Ireland, London, Canada & Australia. She also published a free ebook (the findings of 1 year research from VCs, angels & women founders) “Why are Women Funded Less than Men? a crowdsourced conversation” She was TheNextWomen‘s most prolific contributor of 2011. Silicon Valley TV has been noted as a platform for supporting high growth women led companies in Huffington Post

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