Amid Covid-19 gloom, some bright spots in Portugal's tech startup scene

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Despite a recession and doubling of the unemployment rate forecast this year, it’s not all bad news for the Portuguese tech ecosystem

With Portugal under lockdown and shoppers seeking to avoid cash payments, fintech is a sector that has reported some good news. A survey of its members conducted April 14–16 by the local fintech association, Portugal Fintech, found that almost a quarter of the undisclosed number of respondents said the Covid-19 pandemic had had a positive impact on revenues. While 14% said the effect had been positive, a further 10% had seen their revenue increase by 30% or more. Only 3% of fintechs surveyed had had to resort to laying off staff. In the area of funding too, of the 29% in the fintech segme...
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Edited by Bernice Tang

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