May 2026
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Largest FinTech Public Companies in Poland
Benchmark revenue and EBITDA valuation multiples for public comps like
Asseco Poland, XTB, Kruk S.A., Warsaw Stock Exchange and Ailleron.
 | Asseco Poland SA is a Poland-based information technology (IT) company, which is engaged in the development of software for companies from different sectors of the economy. It also provides enterprise resource planning solutions and services to micro, small, and mid-sized companies, as well as large enterprises; and business intelligence software and services. The company's operating segments include the Asseco Poland segment, the Asseco International segment, and the Formula Systems segment. It generates the majority of its revenue from the Formula Systems segment. | $54 | +8% | $4B | $3B | 0.7x | 4.7x | ||
| XTB SA is engaged in brokerage activities business. It is a Polish broker from the fin-tech sector, providing products and services dedicated to active investing, saving, and virtual payment management. The group conducts its operations through two business segments; the Retail segment includes the provision of trading in financial instruments for individual customers; the Institutional segment includes the provision of trading in financial instruments and offering trade infrastructure to entities (institutions), which in turn provide services of trading in financial instruments for their customers under their brand. It derives a majority of its revenue from the Retail segment. | $30 | +33% | $4B | $3B | 4.7x | 11.4x | ||
| Kruk SA is the leader in the debt collection industry. It manages debts purchased on its own account and contracted by third parties. The group manages bank debt (the main client category), debts owed to loan brokers, insurance companies, leasing firms, fixed-line and mobile phone operators, cable TV companies, digital TV platforms and FMCG companies. The Group manages debt in three segments consumer debts, mortgage debts and corporate debts. Consumer debts include retail and unsecured. Mortgage debts include retail, and secured. Corporate debts include mortgage-backed and non-mortgage-backed. Geographically the company operates in segments Poland, Romania, Italy, Spain, and Other foreign markets. | $118 | +11% | $2B | $3B | 3.7x | 7.2x | ||
| Warsaw Stock Exchange is a securities exchange based in Poland whose core activities include organizing exchange trading in financial instruments and activities related to such trading. The group also pursues activities in education, promotion, and information concerning the capital market. The company has traditionally generated listed interest from both local and regional European companies but primarily from small and medium-sized Polish companies. In addition to stock and bond offerings, the exchange also offers trading in debt instruments, derivatives, commodities, and structured products. Sales revenue is classified according to three main business segments: financial market, commodity market, and other. | $22 | +56% | $914M | $809M | 5.3x | 10.4x | ||
| Ailleron SA is engaged in delivering end-to-end solutions in the areas of mobile entertainment, mobile marketing and mobile infrastructure. The company offers RBT Platform, RBT Migration, VAS Force and Halo ads. | $5 | -10% | $58M | $96M | 0.6x | 4.0x | ||
| IFIRMA Spolka Akcyjna provides services in the field of software development as well as recruitment and outsourcing of IT staff. Its services include internet accounting, accounting office, invoices application, and warehousing software. The company is working on www.firmbee.com - a project management software which manages firm’s tasks, finances, supports remote team work and HR processes. | $7 | +2% | $47M | $46M | 2.6x | 10.0x | ||
| 3R Games SpolkaAkcyjna formerly HubStyle SA is an e-commerce development company. The company creates web-based tools for Internet users and entrepreneurs as well as develops and operates its own sites. It also operates a price comparison website. | $0 | -15% | $16M | $15M | 7.2x | 17.2x | ||
| Analizy Online SA is a Poland-based company that operates as a specialized, independent analytical firm that continuously monitors and thoroughly analyzes the situation in specific areas of the capital market. The company's core business is creating and providing information services and data for capital market institutions and related entities. It also develops software, including solutions that meet regulatory requirements, support or complement the sale of financial products, and enable monitoring and detailed analysis of numerous areas of the collective investment market. | $7 | +33% | $9M | $8M | 2.2x | 9.2x | ||
| Comperia pl SA is engaged in operating a website that offers the comparison of financial products offered to consumers. The financial products include mortgages, cash, car loans, credit cards, personal accounts and savings, term deposits, and structured products. | $1 | +14% | $5M | $5M | 0.3x | 5.2x | ||
| SYNERGA.fund SA is an equity company. It designs the DPM algorithm model as well as a decentralized structure for conducting business. It also co-operates with business angels in the field of investment in projects and talents that increase the adoption of blockchain technology by various market players. | $0 | -20% | $3M | $3M | 816.5x | (9.4x) | ||
| Notoria Serwis SA develops, and delivers financial data. The company's main customers are news agencies, web portals, press releases, and investors. | $2 | -9% | $3M | $3M | 2.7x | 8.3x | ||
| Gamedust SA is a financial media company. The company operates Inwestycje.pl, a financial portal for businessmen, executives, specialists, directors and private investors, which provides information regarding bank accounts, pension funds, etc. | $0 | -19% | $2M | $2M | 9.2x | (0.8x) | ||
| Median | $6 | +5% | $32M | $30M | 3.2x | 7.8x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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