B2B FinTech Radar

There is no dearth of news and hype about B2C FinTechs here in Europe, but where do you go for insights about startups building Enterprise Technology/ SaaS solutions for financial institutions?

B2B startups are (largely) unhindered by the regulatory and market-specific barriers that confront B2C FinTechs – which means they can sell and scale globally from day one. However, from building an enterprise-grade product, pricing (forget about freemium!) and surviving sales cycles of 18-36 months to channel partnerships, inside sales and B2B marketing- nothing comes easy in the Enterprise FinTech world.

For financial institutions looking to stay on the cutting edge, this means understanding market trends and staying on top of B2B FinTech innovations across the globe.

B2B FinTech Radar is a weekly round-up of global deals in the B2B/ Enterprise FinTech space, along with insights and Q&As covering emerging trends, lessons on scaling up and fundraising (e.g. check out The Handbook | Scaling Enterprise FinTech) and more. Check out our recent newsletters below, or get onto our mailing list!

If you are a founder looking to scale a B2B FinTech startup out of Europe/ EMEA, or a financial institution looking to stay on top of this exciting space, we would love to hear from you- reach out to Samarth Shekhar or email us.

Weekly Newsletters

B2B FinTech Radar: 11th May 2022 | FinTech Forum | Europe

On the radar this week:

Q&A with Virginia Bassano of Eight Roads

Estonian financial services outfit LHV Group has invested €1 million in Tuum, its core banking platform provider

Fintech startup Cheq raises $2 million to bring crypto to the masses

Insurtech startup Turtlemint bags $120 million as valuation tops $900 million

Tactic wants to reinvent accounting software for the web3 age

B2B FinTech Radar: 25th May 2022 | FinTech Forum | Europe

On the radar this week:

Q&A with Teo Blidarus of FintechOS

Quantifeed, an Asian wealth management software provider, raised a Series C.

Former regulators join $45 million round in crypto risk platform Solidus Labs

Elwood, a UK digital asset platform for financial institutions, raised $70 million from investors including Barclays and Goldman Sachs.

Unit, a banking-as-a-service provider, raised a $100 million Series C at a $1.2 billion valuation.

B2B FinTech Radar: 3rd June 2022

On the radar this week:

Q&A with Bernd Richter of FIS Impact Ventures

Jupiter Exchange Raises $5 Million in Seed Funding for First Publicly Available Alternative Asset Exchange

Fintech Startup equipifi Raises $12 Million to Power Financial Institutions with Buy Now, Pay Later

Banks and exchanges invest in digital securities market ADDX-The pre-series B funding round raised $58 million

Elliptic announced J.P. Morgan as an additional investor as part of its recent $60 million Series C funding round

B2B FinTech Radar: 7 June 2022

On the radar this week:

Q&A with Viktor Stensson, CEO of Bokio

Citi invests in document management spin out Arteria AI

Debbie, a behavioral savings product builder, raised $1.2 million.

Edge, the builder of an unbiased payments operating system for high-risk industries, raised a $2.4 million pre-seed.

Alloy, a German decentralized finance platform for institutional investors, raised a $3 million pre-seed.

Liminal, the builder of wallet infrastructure for digital assets, raised $4.7 million.

B2B FinTech Radar: June 14, 2022

On the radar this week:

Q&A with David Putts, Chief Growth Officer, Billon

Digiseq, a tokenized wearable payments receiver, raised strategic funding.

Lumiant, a wealth manager client advice and engagement platform, raised $3 million.

Datia, an ESG data workflow solution for investing, raised $3.4 million.

Cryptio, a digital asset back-office platform, raised a $10 million Series A.

Entropy, a decentralized crypto custodian for financial institutions, raised $25 million in seed funding.

B2B Fintech Radar: June 20, 2022

On the radar this week:

Q&A with Oliver Werneyer, CEO of Imburse Payments

Mast, a UK mortgage origination provider, raised £1.2 million.

Nume Crypto, a crypto payments processing startup, raised $2 million.

Webio, a conversational AI builder for the debt collection and repayment industry, raised €3.84 million.

Bits of Stock, a rewards platform that lets shoppers earn fractional stock shares, raised $4.4 million in seed funding.

Prometheus, an investing insights platform for family offices, raised a $5 million pre-Series A.

Clausematch, an automated policy management and compliance software for financial institutions, raised $10.8 million in strategic funding.

B2B Fintech Radar: June 27,2022

On the radar this week:

Q&A with with Paul Christensen of Previse

Formance, a French payments orchestration provider, raised $3.1 million.

Rivet, a healthcare billing and payments platform, raised a $20.5 million Series B.

ESG Book, a provider of sustainability data to investors, raised a $35 million Series B.

B2B Fintech Radar: July 5, 2022

On the radar this week:

Q&A with David Putts of Billon

Fung, a crypto payments infrastructure provider, raised a $2.7 million pre-seed.

System 9, a digital currency market-maker, raised a $5.7 million round.

Dynamic, an infrastructure builder for decentralized digital wallets, raised a $7.5 million round.

Flowdesk, a French digital asset manager, raised $30 million.

B2B Fintech Radar: July 14, 2022

On the radar this week:

Q&A with Michael Mueller of Form3 Financial Cloud

pfs, a financial software risk lifecycle management provider, raised funding.

Xelix, a UK-based accounts payable solutions provider, raised a $5 million Series A.

OpenFin, an enterprise bank operating platform, raised around $10 million from ING.

Tesorio, an automated payment collection and accounts receivable platform, raised a $17 million Series B.

Finalis, a broker-dealer platform for investors, raised $10.7 million in seed funding.

B2B Fintech Radar: July 22, 2022

On the radar this week:

Q&A with Sandipan Chakraborty of SONECT

WiseWorks AI, a bank communications platform, raised $1.2 million

Peakflo, building Bill.com for Southeast Asia, raised around $3 million.

Quiltt, a low-code business-focused infrastructure provider, raised $4 million.

Finli, a business payment management service, raised $6 million in seed funding.

Supy, a restaurant payment software provider, raised $8 million in seed funding.

B2B Fintech Radar: August 4, 2022

On the radar this week:

Video Q&A with with Maximilian Schausberger of Elevator Ventures

FinLync, a corporate finance and treasury provider, raised strategic investment from Workday.

Copper, a crypto custody solution for institutions, raised strategic funding from Barclays Bank.

Atato, a digital asset custodian, raised a $6 million Series A.

Quasar Finance, a decentralized finance protocol, raised $6 million.

Bunch, a German back-end private investing startup, raised €7.3 million in seed funding

B2B Fintech Radar: August 26, 2022

On the radar this week: Q&A with Daniel Andres and Dr. Teddy Amberg of Spicehouse Partners ClaimLogiq, a healthcare payment integrity platform, raised funding as part of a recap. BankiFi, a UK embedded small business banking platform, raised £4 million to expand into the US. Ansible, a startup building a blockchain-based payments platform, raised $7

B2B Fintech Radar: September 5, 2022

On the radar this week:

Q&A with Marcus Börner of OptioPay

BigPanda, a service for responding to security incidents at financial institutions, raised strategic funding from UBS.

Belvo, a Latin American embedded banking and open finance provider, raised strategic funding from Citi.

Finexos, a UK credit-scoring provider, raised £695,000.

Bookkeeper360, a provider of accounting tool integrations, raised a $3.5 million seed round.

Rebill, an Argentinian automated collections process provider, raised $3.6 million.

Q&As and Insights

Q&A with Virginia Bassano of Eight Roads

I am Italian, I studied in a French Business School and I live in London since 2017. I was previously working in Investment Banking at Citi covering the FinTech sector. I co-founded an HR tech startup named DailyInternship, a talent recruiting platform with over 100k students subscribed. That experience led me very close to the Venture Capital world.. so close that I ended up in VC myself! At Eight Roads I focus on investments in Southern Europe, Nordics, and more broadly speaking in FinTech investments all across Europe. I am passionate about travels, motorbike, photography and all type of animals. A funny fact about me is that by the age of 22 I had already visited all the European capitals in motorbike.

Q&A with Teo Blidarus of FintechOS

I am Teo Blidarus, CEO and co-founder of FintechOS. We allow banks and insurers to create customer-centric digital financial products and services using our digital on top and lean core solutions. Many financial institutions who want to innovate quickly are underserved or ill-served by current vendors. Our low-code, modular approach augments legacy systems and allows institutions to build, test and scale new digital products and services in weeks, rather than months.

Q&A with Bernd Richter of FIS Impact Ventures

Family man and proud member of the venture building team at FIS to create new compelling businesses that improve our customers way to transact, pay and invest in the merchant, corporate and financial institution space across the globe

Q&A with Viktor Stensson, CEO of Bokio

In 2015 me, Mikael Eliasson, Emma Rozada and Joel Rozada founded Bokio. Since then, our AI-powered bookkeeping and accounting software has grown rapidly. We’ve expanded to the UK and our user base is growing at an incredible pace. We have 100 employees and serve over 60,,000 monthly active users in the UK and our native country Sweden.

Q&A with David Putts, Chief Growth Officer, Billon

I am the Chief Growth Officer of Billon – the fintech scaleup which created the Unified Enterprise DLT System.  What makes Billon special is that it saw weaknesses in the ability for blockchain protocols to handle the complexity of compliance.  For this reason, Billon creates a new, eco-friendly layer 1 protocol which unifies fiat digital cash, documents and non-cash tokens into a single, high-performance distributed ledger (DLT).

Q&A with Oliver Werneyer, CEO of Imburse Payments

I was born and grew up in South Africa to a German household. I started my first company when I was 16, selling computer hardware, and went on to study Actuarial Science in South Africa. I began my career in the insurance industry and spent  over 13 years in various roles across South Africa, UK and Switzerland before founding Imburse. Headquartered in Zurich, with offices London and Lisbon, Imburse is a modular middleware that enables insurers and other enterprises to connect more easily to the global payment ecosystem.

Q&A with Paul Christensen of Previse

I have a bit of an unusual background, having been born on a piece of tin in the jungle of Papua New Guinea. Respect to my mother, who is an inspiration! I’m a fintech nut. I’ve been in fintech for 25 years, having been part of the founding team of Volbroker.com in the late nineties. I then spent time in several banks, including a decade at Goldman where I led their strategic investments and corporate venturing team. But I knew that I wanted to get back to building and creating. So I started on a quest, with my amazing co-founders (Andre, Giulio and Philipp) and our team, to fix B2B payments.

Our company is a data science firm, on a mission to instantly pay the world’s millions of small sellers, so that they don’t have to wait and chase for weeks and months to get paid. Our purpose is to unleash the power of data for business.

Q&A with Michael Mueller of Form3 Financial Cloud

I grew up in Germany and started working for Deutsche Bank after finishing school in 1988. Soon after I joined banking, I developed an interest in transaction banking and payments when I helped the bank build its international cash management business. After more than 20 years with Deutsche Bank in Germany, Singapore, Sidney and London I moved to Barclays where I joined the Corporate Banking Executive Committee in charge of their cash management and payments business. In 2016, I left banking and founded together with some colleagues Form3, a UK-based payment technology company. Over the past 4.5 years, we have completed several funding rounds and the business has grown to about 200 colleagues. We employ staff in more than 40 countries in Europe with about 19 different nationalities. We have two offices in London and Amsterdam, but most of my colleagues have been operating on a fully remote basis from day 1.

Form3 provides cloud-native payment technology to regulated financial institutions, we are processing millions of payments every month for payment service providers, challengers and large Tier 1 banks in the UK and in Europe.

Q&A with Sandipan Chakraborty of SONECT

Sandipan is the founder and CEO of SONECT that introduces sharing economy in cash logistics. After spending 12 years at Credit Suisse as a Senior Program Manager and delivering some of the largest IT initiatives of the bank successfully in payments, core banking and regulatory compliance, Sandipan decided to quit his job, risk his family and venture into the unknown with SONECT as he identified an opportunity to bring efficiency in cash handling and thus reduce the cost of it. He and his co-founders gathered a team of industry experts for advice, raised capital from prominent investors and grew the company from scratch in no time. The company is now a multi-award winning fintech headquartered in Zurich, Switzerland with 3 offices globally and having international customers including major global retail banks.

Q&A with Christoph Bourguignat of Zelros

Zelros is a software editor specialized in artificial intelligence for the insurance industry. After working at AXA Data Innovation Lab and Datarobot I cofounded Zelros together with Damien Philippon and Fabien Vauchelles in 2016. Today Zelros counts 50 employees operating in 3 countries (France, Germany and Italy) and doubling size each year. Our technology is used daily by thousands of advisors and agents from 15+ leading insurers and bancassurers.

Q&A with Maximilian Schausberger of Elevator Ventures on Youtube

Interviewed by FinTech Forum Co Founder Frank Schwab. Elevator Ventures is the Corporate Venture Capital Entity of Raiffeisen Bank International (RBI). Its primary focus is on early stage and growth investments in fintechs and related enabling technologies in Central and Eastern Europe.  

Q&A with Daniel Andres and Dr. Teddy Amberg of Spicehouse Partners

Yes. The Covid-19 pandemic has accelerated digitalization throughout industries by a couple of years. This digitalization trend will stay and continue to foster, especially in sectors such as fintech and insurtech. We firmly believe in the potential of start-ups in those (and adjacent) sectors. The resulting new or more efficiently structured business models offer tremendous opportunities.

Q&A with Marcus Börner of OptioPay

At the age of 17 I founded my first company – reBuy.com. Today, Germany ́s leading re-commerce platform employing over 500 great people and exceeding $ 200 million in annual turnover .
My entrepreneurial spirit and passion for combining customer-oriented products with data eventually led to the foundation of OptioPay. OptioPay provides Open Banking white label services that empower customers to benefit from value-add campaigns based on their bank account data. As a B2B2C-provider we serve clients from various industries, such as banking, insurance, telco & retail. Comdirect Bank, DZ Bank, HDI or 1&1 are some of our clients that understand the huge potential of open banking for their business and customers. Going forward, any company missing out on the open banking opportunity will struggle with severe strategic disadvantages.

Q&A with Matilde Limbert of BiG Start Ventures

As a preamble, let me point out that it’s never a one-line straight answer.
From what we’ve seen, the initial effect that lockdowns have caused in many sectors, including the Financial sector, was a freeze. With huge uncertainty as to what the future was holding for the global and local economies, no one was daring to move – projects were frozen, budgets were frozen and openness to Fintech/Insurtech solutions was not a priority. Very soon we watched the situation reverse, especially for enterprise solutions in cases where these were the key to enable the digital presence of organizations, thus its perseverance through a lockdown.

I believe this push towards digitization has led to a higher degree of trust on the potential of these ‘​technological commers’​ which are responding to unique challenges in each sub-vertical, as solutions such as digital financial services, ecommerce, cyberinsurance, among others, gained huge relevance and spotlight, but also as technology enables to create and seize new opportunities. Urgency has led to greater adoption, which in turn has led enterprises to realize the real and living need of financial technology and the potential of partnerships and collaborations.

Q&A with Samuel Falmagne of Akur8

I’m Samuel, CEO of Akur8. I started my career at IBM, where I spent 15 years in various international sales and sales management positions before joining Insurtech Shift Technology as Head of Sales. At Shift, I drove the internationalization of the company, including in the US. After 2 years at Shift, I decided to take on a genuine entrepreneurial adventure and joined Guillaume, our Chief Actuary, and co-founded Akur8.
Akur8 is a cloud-based B2B Insurtech, automating the rate-making process thanks to proprietary algorithms powered by Transparent-AI, while enabling to retain complete control over the process and the output.

Q&A with Dr. Christopher Oster of Clark

My name is Christopher Oster and I am the founder and CEO of CLARK, a leading digital insurance manager. Our CLARK app makes it easier, simpler, and faster for consumers to manage their insurances ​– all in one central app where changes can be done with just a few clicks. Additionally, insurance experts are available for an in-depth consultation via in-app chat, mail, or phone. Since CLARK’s founding in 2015, we have served over 300,000 satisfied customers. More than 250 employees from over 40 nations work from our offices in Berlin, Frankfurt, Vienna, and Püttlingen. Before founding CLARK, I was COO of the vacation rental marketplace Wimdu and led its operations and international expansion. I also spent several years with the Boston Consulting Group as a consultant for companies in the financial sector.

Q&A with Artur Banach of Movens Venture Capital

In the first stage of the fight against COVID-19, the most pressing problem was dealing with the current uncertainty. Many fintech companies, like the rest of the financial system, have even begun to overreact to the crisis. Many of them, including insurtech and proptech companies, have implemented cost-saving measures, including staff reductions. Since many of them rely on transactions and volume for revenue, a priority strategy has been to make sure that as much as possible is variable and fixed expenses are minimized.

In Europe and the fintech sector remains one of the most important areas of innovation across the continent, particularly in large countries such as the UK, Germany and France. It can be seen that the above trends are generally positive for fintech innovators. Total VC investment in 2020 in fintech companies was slightly higher than in 2019, with scaleups rather than early-stage startups being the source of growth. Against this background, Polish fintech scalups and startups still have a lot of catching up to do, but I’m sure that in a few years from a group of companies such as Verestro, Nethone, Creamfinance, CashDirector, Fenige.com, Autenti, Symmetrical.ai or Uncapped will grow into important players in Europe.