Turnover of Hungarian FinTech companies, most of which are providing B2B services, surpassed HUF 170 billion in 2020 from little over HUF 120 bln a year before. Their profitability ratio improved by 1 percentage point to 9%.
Microbusinesses and small enterprises accounted for 79% of local Fintech companies.
Around 26% of Hungarian FinTech companies work in the area of financial software development and system integration, while 19% are active in payment services and 17% offer data analysis and business intelligence services.
The report said that around 25% of companies are the local subsidiaries of foreign ones.
Data also showed that one-quarter of FinTech companies have received at least one round of venture capital funding since their establishment.
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