The Fugger family is a German family that was a historically prominent group of European bankers, members of the fifteenth and sixteenth-century mercantile patriciate of Augsburg, international mercantile bankers, and venture capitalists. Alongside the Welser family, the family controlled much of the European economy in the sixteenth century and accumulated enormous wealth. This banking family replaced the de' Medici family, who influenced all of Europe during the Renaissance. The Fuggers took over many of the Medicis' assets and their political power and influence.