Abandoning your home market is never easy, but sometimes it’s necessary
Finiata isn’t the only fintech company to turn away from the German market this year.
It started out focused on the German market, but the following year entered Poland.
I am basically exiting with my company my home market,” Jan Enno Einfeld, the company’s chief executive, tells Sifted.
Einfeld says that the financial services market is highly saturated in Germany, so if you are trying to offer a new service you’re taking on the existing banks.
“At the current scale that we’re operating on it doesn’t make much sense to invest heavily in Germany, and that’s why we decided to close the German market for the time being.
Disclaimer: This story is auto-aggregated & summarized by a computer program and has not been created by StartupAround.
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