The two pie charts present the distribution of startups active in the digital payments area surveyed worldwide by the Observatory in 2020, and related funding received by geographic area. Startups surveyed are international businesses founded less than 5 years ago that have been granted financing at least once in the past 2 years from institutional investors such as investment companies, Venture Capitalists, and Business Angels (does not include bank debts and private equity operations), or that have been part of ICO operations.