David Furlong
@df
why haven't we seen more neobanks in europe? just revolut, n26, bunq so far it seems? regulation in each country too hard to navigate?
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Matthew Fox 🌐
@matthewfox
there was a huge wave of eu payments apps - venmo style app + card, even circle was one of them back then They mostly died out and the ones you named won the market share, others like circle killed the consumer apps and pivoted heavy, although circles the only success story that comes to mind there
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luc
@luc
we have and most died/are irrelevant? afaik most countries have a few national players (e. Lydia in France, Monzo in UK, Lunar in Denmark) they all stop growing fast (high CACs, low differentiation, hard to raise more capital)
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Galen @Gnosis 🦉
@galen
@gnosispay incoming
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Nastya
@nastya
Also Vivid from Germany, and it works in most of European countries. It used to be a Solaris wrapper, but recently Vivid became a bank by itself.
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max ↑🎩
@baseddesigner.eth
they’re all offering the same thing, it’s like stripe, whoever is first, regulated, and dominating will take over the rest over time
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matthewb.eth
@matthewb
more regulation + less money to be made
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links 🏴
@links
My guess is that there is more regulation and less money to be made in general, so costs are higher and revenues lower. America’s system is really « bottom up », they actually have some of the most banks per capita, and lots of space for middlemen to take a cut on tx volume.
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William Saar
@saarw.eth
Lots of credit firms seem to have become banks, like Klarna, but they'll might not be providing all the banking functions
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ihte
@ihtexyz.eth
I feel you have more and higher adoption neobanks in Europe than anywhere else. I don't have data to back this though. Just based on how many people I see using revolut or monzo
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