Taking a fintech project to the EU market always means huge expenditure, but only the entrepreneurs who tried it know the actual amount of investment required.

Executive Officer at British fintech platform Bilderlings Dmitry Kuvshinov has told Rusbase how much money it takes to launch a fintech in the European Union.

The article gives average estimates, but they are generally reliable.

- Turn-key license (services of the mediator, the price of the license and related costs) -starting from EUR 50,000. Two most popular types of European license for fintech are PI (Payment Institution) and EMI (Electronic Money Institution). In most cases, PI is slightly easier and cheaper to get than EMI.

- Development of internet bank - EUR 200,000 (it is the estimate for the minimal set of functions; the full set will cost around EUR 1 million).

- Servers: e-mail, websites, and software - starting from EUR 2,000 per month.

- The payment to the regulator - EUR 2-3,000.

- Non-material assets (office, utilities) - starting from EUR 2,000 per month.

- Employees’ wages - between EUR 10,000 and EUR 100,000 per month (depending on the number of employees).

- Administrative costs - EUR 10,000 per month.

- SEPA (Single Euro Payment Area) - EUR 50,000 for integration.

- SWIFT - EUR 5,000 per month.

- Setup of an employee - EUR 1,000 per month.

- Annual audits - around EUR 30,000 per year.

- Bonuses and other types of motivation for the sellers - EUR 10,000 per month.

- Maintenance of bank accounts - the rate from the turnover.

- Transaction expenditure - the rate from expenditure.

Total: EUR 300-500,000 as well as EUR 80,000 monthly for development.


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