European Founders Trust AI Providers More Than Their Governments To Drive Growth
Surveying 700 European founders, Enfuce’s Startup Trust Index reveals that the organisations shaping startup growth aren’t always those founders trust with their success.
Web Summit, Lisbon, 10th November 2026: European founders trust AI providers and sales platforms more than their own governments to support their growth, according to new research from issuer processing powerhouse Enfuce.The findings point to a trust gap at the heart of Europe's startup economy: the institutions with the most power over founders' growth are the ones they trust least.The Startup Trust Index asked 700 founders across the UK, France, Germany, Italy, Spain and the Nordics how much they trust, depend on and feel the power of 14 types of organisation, from banks and investors to software providers and government.
Key findings
37% of founders highly trust AI providers to support their growth, compared with 27% for government, the lowest of the 14 organisation types tested
Governments also rank first for power: 38% say their own government has high power over their growth, rising to 47% in the UK
56% depend on at least one type of organisation they have limited trust in, and 30% of them say the reason is lack of suitable alternatives
69% of founders use AI, and among them 56% report higher productivity and 52% better revenue or margins
Only 41% of founders are confident Europe is a good place to build and scale a business, and 39% have considered relocating, incorporating or raising outside Europe
Governments hold the power, but tech providers earn more trust Founders across Europe see their government as the organisation with the most power over their growth. Yet only 27% say they strongly trust it, the lowest of any organisation in the survey.Founders put far more faith in investors and the technology and commercial partners they work with every day. AI providers and sales and distribution platforms are the most trusted, each rated highly by 37% of founders, followed by investors (35%). Other technology providers also outscore government, including business software providers (34%) and cloud infrastructure providers (32%).The gap is biggest in the UK. Almost half of UK founders (47%) say the government has a lot of power over their growth, but fewer than a quarter (24%) strongly trust it.
AI is fuelling startup growth
AI is becoming an established part of startup operations, with 69% of founders using it in their business, with 19% using it also for business-critical decisions and processes. One in four identify using AI as one of the developments that most supported their growth over the past year.
Founders’ confidence in AI is grounded in ROI, with 56% reporting increased productivity and 52% reporting improved revenue or profit margins. Across all founders, 58% agree that AI presents a bigger opportunity than a threat to their business.
Still, technology only goes so far. Almost two in three founders (63%) say the relationships they have built matter more to their growth than the technology they use.Limited choice leaves startups reliant on partners they don’t fully trust More than half of founders (56%) depend on at least one type of organisation they have limited trust in. Three in ten of them (30%) say there is simply no suitable alternative. Others say the organisation gives them capabilities they can't easily get elsewhere (28%), or that the benefits outweigh their concerns (26%).Founders rely most on sales and distribution platforms, with 35% rating their dependence on them highly. Investors (32%) and traditional retail banks (31%) come next.What earns their trust is practical. Asked what makes them trust an organisation to support their growth, founders put value for money and keeping promises joint first (36% each), followed by being clear about terms, charges and decisions (32%).This is the challenge for Europe's startup ecosystem. Founders need partners they can depend on, but with few alternatives, many end up relying on organisations they don't fully trust.
Growth ambitions collide with economic pressures
Operating costs were the most common barrier to growth over the past year, cited by 32% of founders, followed by economic or policy uncertainty (29%). Looking ahead, two in five founders (42%) name lower operating costs as one of the changes that would help them grow most, rising to half (50%) in the UK.But founders aren't building just to sell. Asked what success would look like in five years, only 17% mention a sale or public listing. Far more want to build a durable, independent business, grow their revenue and customer base, or achieve financial security for themselves and their families (39% each).“Europe’s founders trust AI providers more than their own governments to help them grow. Europe’s governments should take that seriously if they want the next generation of great companies built here,” said Denise Johansson, CEO and Co-Founder at Enfuce. “And the stakes are about to rise. AI is moving from helping founders work to making decisions, including payments, on their behalf. When something goes wrong, founders will want to know exactly who answers for it. Technology can be copied. Trust has to be earned.”A link to the full report can be found here:
Methodology
The research was commissioned by Enfuce and carried out by independent research agency Sapio, surveying 700 founders of businesses across the UK, France, Germany, Italy, Spain and the Nordics (Sweden, Norway, Denmark and Finland). Fieldwork took place in October 2026.
About Enfuce
Founded in 2016, Enfuce is a female-founded and led global payments partner solving payments complexity for ambitious brands, banks and fintech leaders.Born in the Nordics. Built for the World. Enfuce is a strategic issuing and licensing partner delivering premium, flexible payment programmes. Built for fast launch and trusted scale, Enfuce designs, launches, and runs global card programmes with strong regulatory foundations and enterprise-grade reliability. Through co-creation at scale, Enfuce combines cloud-native issuing, embedded compliance, and fraud intelligence to deliver velocity with control.
Enfuce holds an Electronic Money Institution (EMI) licence from the Finnish FSA and from the UK’s Financial Conduct Authority (FCA). Its PCI-DSS certified platform guarantees 99.999% uptime, global scalability, and card scheme connectivity – powering global growth with integrity by design.
