The 2 graphs show the distribution of Mobile Payment & Commerce startups, censed worldwide by the Observatory in 2018, and related financing received by application environment. Censed companies are international startups (companies established less than 5 years ago) that have been financed at least once in the past two years by institutional investors, i.e. Venture Capitalist and Business Angels (does not include bank debt and private equity operations), or that conducted ICO operations.