Malta is more than just a collection of islands in the Mediterranean Sea. Despite the fact that it's one of the world's smallest countries, it has become a popular destination for many tech entrepreneurs. Malta has risen to prominence as a European startup hotspot in recent years. The Maltese startup ecosystem has previously been recognised for its iGaming and blockchain industries, but it has much more to offer.
Because Malta is also a popular tourist destination, the pandemic had a significant impact on the Maltese economy. However, in spite of this setback, many innovative startups are still going strong and continuing the thrive, bringing more jobs to the island.
According to a recent Eurostat survey, Malta ranks first among EU countries in terms of small to medium-sized enterprises (SMEs) using the Internet for promotional reasons. According to the study, 46% of SMEs in Malta use the Internet for advertising, while 71% utilise social media to spread their promotional messages. iGaming SEO Agency services are very popular, as are other types of digital marketing services.
Growing Startups in Malta
Malta is home to a thriving startup scene, with a wide variety of businesses in all kinds of different sectors. Although the island is most famous for iGaming companies, there are plenty of other growing industries too. Here are some of the most promising startups of the last few years.
Solfy
Based in San Gwann, Solfy is a Fintech company that aims to give customers easy access to bank loans and online payments. Solfy was founded in 2018 with the goal of helping banks sell more credit products with less risk, gain more clients, and boost the number of retail transactions. Customers have the benefit of free loans for easy shopping, and merchants can enhance sales and customer loyalty.
Free Hour Malta
Free Hour, which was founded in 2017, is a mobile application platform that allows students to exchange their schedules with peers and locate mutually beneficial free classes. Free Hour also has a number of other features that make it the ideal software for students, and it has been rapidly increasing since its introduction in 2017. FreeHour is already used by almost all of Malta's main institutions, helping them connect better with students.
Few
Few is a brand-new Malta-based app that allows users to manage their mental wellbeing and physical fitness. The Malta-based firm, which was launched in 2020, also provides practitioners with integrated payment solutions. This allows health and fitness professionals to secure money while also giving them access to new clients and providing them with customer and performance data. Few received €250K in funding from Malta Enterprise and other investors earlier this year.
CIVIQUO
CIVIQUO is a unique company that provides people with exciting opportunities for relocation. Regarded as one of the world's first investment migration platforms, CIVIQUO was founded in 2018 and offers alternative residency and citizenship options to users. Recently, the company received an additional €1 million in funding to expand its services and bring the platform to a wider audience.
Fyorin
Fyorin is a Malta-based startup that focuses on financial solutions for small to medium-sized enterprises. Fyorin provides SMEs with the flexibility to access a comprehensive choice of financial solutions that are suited to their specific business needs at any time in a simple and hassle-free manner. The service was launched in 2019 and offers financial institutions and small businesses better opportunities for growth.
Conclusion
Malta has suffered a hit to several industries, including tourism and real estate, due to the pandemic, but the startup scene is still thriving. More innovative companies are emerging across the country and bringing new jobs and industries.
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