Top 100 Fintech and Blockchain Outsourcing Companies in Europe: Hypra Fund report

Hypra Fund, an investment fund founded in 2022 by Ukrainian entrepreneur Igor Pertsiya, has published a complete review of the top 100 outsourcing companies in Europe’s fintech and blockchain sectors. According to the research, Ukraine ranks second in terms of the number of outsourcing companies.

The study provides insights into the featured companies’ performance, client base, and achievements through a rigorous evaluation procedure. It is a helpful resource for decision-makers looking to engage with reputable organizations in the fintech and blockchain sectors, providing them with the information they need to build effective and strategic partnerships.

Average minimum project price per country

• The average project cost in Ukraine is approximately $24,000, while in Poland it’s only $18,000. All countries are moving within a similar range for the average project, but often countries like the UK or Germany only handle a portion of the project, while the main development takes place in the CEE countries.

Hourly wages

• The hourly rates are very similar, with some variations depending on the country in which the head office is located. However, as shown in the graph, there are some distinctions. The majority of businesses operate in the $20–$100 range.

Service focus by foundation years

• The graph shows that the technological innovation and new technical needs stimulate the formation of new businesses, ultimately contributing to the industry’s growth. The data depicts the number of companies that have been founded over time and are classified based on their concentration on service supply. As a result, the bulk of companies were created between 2014 and 2017, precisely during the global fintech boom.

The correlation between the company size and revenue

• According to the research, the majority of the Top 100 companies by client ranking have workforces ranging from 50 to 249 individuals and revenue of 5-20 million (33 companies) or less than 5 million (28 companies).

Ukraine’s place in the research

According to the latest data from February-March 2023, Ukrainian companies continue to lead the rankings in the fintech and blockchain outsourcing markets based on user ratings. Despite the ongoing full-scale war, Ukrainian software development companies with headquarters in Ukraine maintain excellent quality standards and levels of client satisfaction.

Even in the middle of the war, Ukraine remains the top destination for enterprises seeking technology and development services. Poland is ranked second, with the United Kingdom ranking third.

Methodology

Igor Pertsiya, Managin Partner at Hypra Fund, explained the methodology and the reasons behind the research:

“We are convinced that software development is critical to the success of both startups and established businesses. We share this passion at Hypra Fund and actively invest in software development companies,”

Igor Pertsiya said.

• The report consulted a variety of sources, including company websites, ratings, and specific platforms, such as Clutch.co, GoodFirms.co, ROI4CIO.com, Glassdoor.com, Arcadier API, ZoomInfo.com, Sortlist.com, DesignRush.com, TechImply.com, Growjo.com, RocketReach.co, Apollo.io, Tracxn.com, Pitchbook.com, TopDevelopers.
• Furthermore, over 70% of the participating companies confirmed their data, confirming the report’s trustworthiness. The report explicitly marks the remaining companies whose data remains unverified as “unverified by the company,” inviting them to contact the organizers to rectify their information.
• In addition, the research includes interviews with ten CEOs of significant outsourcing firms, who shed light on their perspectives on the industry’s current situation and the destiny of their particular organizations.