Industry research
Scope
Europe
Companies
90
Table of contents
What does the wealth-tech market landscape look like in Europe?
The European market has a fragmented nature, with WealthTech specialists competing against traditional banks, neobanks, wealth managers and IFAs. The trading & investment platforms segment shows the highest level of consolidation, with scale and network effects leading to the rise of pan-European champions (e.g. flatexDEGIRO, Bitpanda). Across all segments, competition from traditional banks and neobanks is expected to drive M&A, as these businesses often prefer acquiring capabilities over developing them in-house.
What is the level of investor activity in Europe's wealth-tech industry?
Sponsor-led interest has been very strong, with ~79% of identified assets backed by financial sponsors (September 2025). This is primarily fueled by the upcoming wealth transfer from older generations to millennials and Gen Z investors, alongside the upside potential from emerging technologies. On the other hand, exposure to economic cycles, coupled with regulatory uncertainty and structural talent shortages, represents key deterrents for investors.
What are the key ESG considerations in Europe's wealth-tech industry?
Relevant ESG topics mainly revolve around potential social issues. Digital brokers and robo-advisers play a key role in providing investment opportunities to novice (retail) investors. However, this must be matched with careful training and education, as the misuse of WealthTech platforms could trigger crippling financial losses for end-users. Moreover, money laundering, data breaches and KYC risks create governance challenges for the sector.
The AuM of European robo-advisers was estimated at ~€145.9bn in 2025 and is projected to grow to ~€170.6bn by 2029 (+4.0% CAGR 2025-2029; Statista, October 2024)
Industry experts forecast the European WealthTech and digital asset management segment to grow at a +16.0% CAGR from 2025 to 2030 (interview by Gain.pro)
The Great Wealth Transfer is expected to shift ~$90tn in assets globally from baby boomers and the silent generation to millennials and Gen Z. As digital natives, these younger generations favour technology-driven wealth management services over traditional models, thereby expanding the total addressable market for WealthTech (interviews by Gain.pro; Fortune, January 2025)
Emerging technologies, such as AI, cloud computing and blockchain, are set to drive efficiency in wealth management software. Consequently, investments in technology are expected to deliver cost savings and support higher profit margins (interview by Gain.pro; BCG, June 2025)
Regulatory efforts by the EU and greater engagement from younger generations using micro-investing and robo-advisory platforms could shift ~€10tn from dormant deposits to active investments, strengthening growth prospects for digital trading platforms (European Economic and Social Committee, July 2025; Cboe, December 2024)
Online trading platforms remain vulnerable to equity market cyclicality, as downturns reduce retail trading volumes and fee-based revenues. Additionally, the growth of automation players is constrained by long sales cycles, dependence on banking budgets and the need for sustained R&D investment to remain competitive (interviews by Gain.pro; Financial Times, August 2025)
Challenges in attracting the right talent pool (e.g. developers, banking experts) result in high staff expenses for incumbents, which may pressure margins as well as limit top-line growth (interview by Gain.pro)
Uncertainty around new regulations reduces incentives to develop new services. Incumbents' top-line may also be harmed by the payment for order flow (PFOF) ban in Europe, which will prevent digital brokers from selling trading data to market participants (Optiver, March 2025; interview by Gain.pro)
With the full report, you’ll gain access to:
Detailed assessments of the market outlook
Insights from c-suite industry executives
A clear overview of all active investors in the industry
An in-depth look into 90 private companies, incl. financials, ownership details and more.
A view on all 361 deals in the industry
ESG assessments with highlighted ESG outperformers
