Industry-Specific Operational Infrastructure
European vertical SaaS is concentrated in healthcare, finance, and insurance, with companies like Doctolib (France, healthcare booking), Mambu (Germany, cloud banking), Thought Machine (UK, core banking), and Fenergo (Ireland, financial compliance) reaching significant scale. European industry-specific platforms benefit from regulatory complexity — DORA for financial services, MDR for medical devices, and NIS2 for critical infrastructure — which creates compliance moats that US competitors struggle to cross without deep localization.