Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

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4. Results: Answers
Tips and traps
What are your top tips for fintech players seeking to enter your jurisdiction and what potential sticking points would you highlight?

Answer ... Top tips for fintech players that are keen to start operating in Spain include conducting a thorough legal validation of their business models, to ensure that these will not require specific authorisations or registrations in Spain and will not be subject to particular local requirements such as anti-money laundering provisions. In the case of lending platforms, other business elements – such as default rates and recent case law – should also be assessed.

As regards the sticking points, business-to-consumer entities in particular are still struggling to gain market share, as the cost of acquiring clients and the difficulties in penetrate mature markets jeopardise their growth. Likewise, the levels of financing raised by Spanish fintech companies in comparison with their peers in other jurisdictions are still quite modest, since the local investment environment is limited and access to international investors is restricted to larger rounds and very successful stories.

For more information about this answer please contact: Xavier Foz Giralt from Roca Junyent Abogados