Such acquisitions enable startups to create a stickier value proposition that can help attract more potential users and retain existing customers. And in the future, Fenergo could look into expanding its regtech offering by moving into new customer segments like insurance or by offering solutions for regulatory reporting or transaction monitoring — regtech segments that currently have fewer startups competing for market share.
Ireland's fintech ecosystem hasn't been investors' focus recently, but this latest round is bucking that trend.
Additionally, uncertainty around Brexit hasn't shaken the investors' confidence in the UK's fintech industry — funding increased from $3.6 billion in 2018 to $4.9 billion last year — suggesting that not many will seek out alternative locations for investments. As such, big funding rounds like Fenergo's will likely remain a rarity in Ireland, and those winning the funding race will likely be startups working with big corporates or on a business-to-business model.
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