This analysis provides an overview of the main markets relevant to the EIF. It starts by discussing the general market environment, then looks at the main aspects of equity finance and the guarantee and SME securitisation markets and, finally, it highlights important aspects of microfinance in Europe. A chapter on Fintech also complements the analysis.

EIF research shows that small businesses are increasingly optimistic about the business climate as economic recovery is gaining momentum across Europe.

Since 2017, VC investments in European start-ups have been exceeding the pre-crisis levels. The EIF continues to support that recovery.

The research suggests that new European securitisation regulation has the potential to help the positive revival of this segment. But success depends also on general market conditions, including overall monetary policy.