The Spanish Association of Fintech and Insurtech has grown by 15% in the last year

The Spanish Association of Fintech and Insurtech Companies (AEFI) announced in its last general assembly (in telematics format) a growth of 15% last year to around 150 employees. This was reported to Cointelegraph in Spanish through a statement.

As this association notes, in this way it has established itself as the largest in the fintech ecosystem in Europe and Latin America.

“Looking ahead to the next few months, AEFI rises to the challenge of continuing to work to support the application of Community rules in the most beneficial way for fintech companies, as in the case of the European Crowd Regulation and cryptoactive markets, and also proposes to launch initiatives that include fintech To make the ecosystem known to the average citizen, to develop explanatory sessions on the various business models of the Spanish Fintechs and Insurtech in cooperation with the AEFI partners and sponsors themselves and with the support of various institutions”, You detailed in the statement.

The approval of the sandbox, a turning point

The Spanish Association of Fintech and Insurtech has grown by 15% in the last year
The Spanish Association of Fintech and Insurtech has grown by 15% in the last year

The recent sandbox approval has been configured as a relevant milestone for the fintech ecosystem in recent years. The AEFI has been actively involved in the whole process since its inception in 2018 when it presented a proposal to the Minister of Economics, Luis de Guindos.

In the general assembly The association explained the next steps for the sandbox, the ministerial order of which will be published on December 14th. Then in January the first single window, a table for the selection of projects and the beginning of the first cohort are opened to get it going.

Rodrigo García de la Cruz, President of the AEFI, achieved a very positive balance despite the uncertain scenario from the health and economic crisis.

The AEFI President stated: “We are very proud to be able to contribute our grain of sand to further promote the fintech and insurtech ecosystem in Spain. Without a doubt, the sandpit is the perfect example of how the collective work of everyone involved gets its reward, but it will also be a turning point in bringing Spain to the forefront of financial innovation. ”

“In the coming months we will have to keep fighting so that the different regulatory processes at national and local level make it easier for companies from different industries to access finance and new markets. Spain has a very strong spirit of entrepreneurship, innovation and great ideas, but there is a lack of regulatory certainty and access to finance, two factors that normally go hand in hand, ”he added.

About AEFI

The Spanish Fintech and Insurtech Association, founded with the aim of creating a favorable environment for the development of startups and fintech and insurtech companies in Spain, represents fintech companies through vertical groups led by specialized coordinators.

The association tries to work together, innovate and position Spain as a pioneer focus of FinTech and InsurTech. Build bridges in the Spanish FinTech ecosystem and encourage interaction between key players in the market.

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