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B2B FinTech Radar: 25th May 2022

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.

Thought Machine, a UK B2B core banking provider, raised $160 million at a $2.7 billion valuation.

Xendit, a Southeast Asian payments infrastructure company, raised a new $300 million round of funding.

Q&A with Teo Blidarus of FintechOS

1. Tell us a bit about yourself and your company.

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.

http://www.fintechforum.de/teo-blidarus-of-fintechos/

HSBC Asset Management has led a round of funding for Quantifeed, an Asia-based wealth management software player.

The alternative investments business at HSBC Asset Management, called HSBC Alternatives, led a series C funding round in Quantifeed, which provides white-labeled platform software for financial institutions, the company said in a press release Thursday. In addition, Daiwa PI Partners was an investor in the round, while current shareholders Franklin Templeton and LUN Partners Group also invested, the release said.

Quantifeed declined to disclose the quantum of the round to finews.asia.

Hiring Plans: The company said the funds are earmarked to bolster its services for advisors, portfolio managers and end-customers, with improvements to portfolio design, advice and trading products as well as adding new asset classes, such as structured products, private equity and digital assets. Quantifeed said it planned to speed up hiring, particularly in Japan and Southeast Asia.

So far, Quantifeed operates in Hong Kong, Singapore, Japan, Australia and India, and has deployed its QEngine product for wealth management to clients including DBS Bank in Singapore, MUFG Bank in Japan and Cathay United Bank in Taiwan, the release said.

Quantifeed’s series B investors included Legg Mason, Cathay Financial Holding, YungPark Capital and Cyberport Hong Kong, according to data from Crunchbase. Previous funding rounds raised a total of US$14.5 million from eight investors, the data showed.

HSBC Asset Management had US$640 billion under management as of end-2021, according to the asset manager’s website.

https://www.finews.asia/finance/36913-hsbc-am-invests-in-wm-software-player-quantifeed

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

Solidus Labs, a digital asset risk surveillance firm founded by ex-Goldman Sachs engineers, has secured a $45 million B round led by Liberty City Ventures and joined by Evolution Equity Partners, Declaration Partners, and angels including former US Acting Comptroller of the Currency Brian Brooks and former CFTC Chairman Christopher Giancarlo.

The New York-based firm seeks to transform financial risk monitoring, beginning with the new challenges posed by crypto and digital asset markets. Solidus’ clientele includes top crypto firms as well as traditional financial institutions and regulatory agencies.

The announcement comes on the backdrop of record breaking crypto and DeFi adoption – with some estimates placing total value locked (TVL) in DeFi at more than $200 billion in the beginning of 2022 – which has seen Solidus Labs quadruple its team over 2021 amid massive demand.

In March, the firm unveiled its all-in-one crypto-native risk monitoring suite, Halo, which is currently monitoring more than one trillion trading events per day in more than 150 markets. The platform deploys over 50 different proprietary market abuse typologies, shielding investors and safeguarding crypto businesses from new threats unique to the crypto and decentralized finance space.

“For Web3 and the DeFi economy to truly fulfill their massive potential, there’s a need to mitigate new risks – both in terms of liquidity enablement and on the consumer and investor protection side. This is where Solidus’ crypto-native solutions come into play, and the reason we’ve been experiencing a 560% year-over-year revenue increase,” says Asaf Meir, Solidus’ founder and chief executive. “The additional funds will allow us to support the growing cohort of financial institutions looking to expand into the DeFi space, accelerate the deployment of our threat intelligence capabilities, and expand our R&D to solve a fast-growing array of DeFi specific use-cases and needs.”

https://www.finextra.com/newsarticle/40250/former-regulators-join-45-million-round-in-crypto-risk-platform-solidus-labs

Barclays and Goldman Sachs invest in digital asset platform Elwood

Barclays and Goldman Sachs have joined in a $70 million funding round in Elwood Technologies, the intsitutional-grade digital asset platform founded by British hedge fund billionaire Alan Howard.

The round was co-led by Europe’s largest B2B investor Dawn Capital and Goldman Sachs, with participation from Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures.

Elwood’s end-to-end OMS/EMS/PMS platform provides low-latency connectivity to global crypto exchanges and deep liquidity via one single API. Full reporting and analytics and dedicated customer support round out the package.

James Stickland, CEO of Elwood Technologies, comments: “The rich mix of investors participating in this raise reaffirms the movement of financial institutions working closely with their native digital asset technology providers. Together, we aim to provide broader mass market involvement in digital assets and cryptocurrency. We look forward to working with our investors to further enhance our offerings and broaden their market adoption.”

Forecasts by Goldman Sachs’ analysts in January that a single bitcoin could hit a $100,000 valuation now look overcooked in the current crypto market rout. Despite the market setbacks, the bank remains confident that insitutional demand for digital asset investments will continue to grow.

Mathew McDermott, global head of digital assets at Goldman Sachs, says: “Our investment in Elwood demonstrates our continued commitment to digital assets and we look forward to partnering to expand our capabilities.”

https://www.finextra.com/newsarticle/40252/barclays-and-goldman-sachs-invest-in-digital-asset-platform-elwood

Banking-as-a-service startup Unit closes on $100M at a $1.2B valuation

Unit, a banking-as-a-service startup, has closed on a $100 million Series C round of funding led by Insight Partners.

Existing backers Accel, Better Tomorrow Ventures and Flourish Ventures also participated in the financing, which values the company at $1.2 billion. The raise follows a $51 million Series B financing that was announced last June, and brings its total equity raised since inception to nearly $170 million.

Founders Itai Damti and Doron Somech started Unit, which has dual headquarters in Tel Aviv and New York City, in late 2019. The pair spent the first year stealthily building out the technology with the mission of giving companies a way to embed financial services into their product, accelerating their time to market.

In other words, Unit touts that companies using its technology in a variety of industries — such as freelance or creator economy and personal financial management, for example — can build financial products directly into their software. This gives them the ability to build and launch next-gen bank accounts, cards, payment and lending products.

Unit has seen its transaction volume grow by 7x over the last six months. The startup has crossed an annualized transaction volume of $2.6 billion, issued over 430,000 cards to over 330,000 customers, and saw a 10x increase in deposit volumes.

Damti and Somech are no strangers to growing companies. The duo previously started — and bootstrapped — Leverate, a Tel Aviv-based B2B trading tech provider.

The raise is further evidence that startups that enable other companies to offer financial products are among the most well-funded in the fintech world these days. Last week, TechCrunch reported on Dock, a Brazilian fintech infrastructure provider that raised $110 million at a valuation of over $1.5 billion. The startup operates a full-stack payments and digital banking “platform” across Latin America.

Thought Machine Raises $160 Million in Series D  

Thought Machine, a London, UK-based fintech company that builds cloud-native technology to revolutionize core banking, raised $160 million in a Series D funding, after 6 months since the series c round, now valued at $2.7 billion.

The round was led by Temasek, participation from Intesa Sanpaolo and Morgan Stanley, as well as follow-on investments from existing investors including Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB. 

The new capital will be used to carry the momentum, with APAC markets Vietnam, Thailand, Indonesia, and the Philippines on tap.

Company: Thought Machine Group Limited

Raised: $160.0M

Round: Series D

Funding Month: May 2022

Lead Investors: Temasek

Additional Investors: Intesa Sanpaolo and Morgan Stanley, as well as follow-on investments from existing investors including Eurazeo, ING, JPMorgan Chase, Lloyds Banking Group, and SEB

Company Website: https://www.thoughtmachine.net/

Software Category: Core Banking Software

About the Company: Founded in 2014 by former Google engineer Paul Taylor, Thought Machine provides modern, cloud-native core banking technology to some of the largest financial institutions around the world including investors and clients, Intesa Sanpaolo, Lloyds Banking Group, ING, SEB, and Standard Chartered. Thought Machine describes itself as a cloud-native core banking technology firm and is selling cloud-based banking infrastructure to old and new banks as they look to offer their customers services via the cloud, moving away from the mainframe, legacy banking tech (in the case of old school banks) or offering cloud-based services from the get-go in the case of challenger banks and fintech startups. 

https://www.thesaasnews.com/news/thought-machine-raises-160-million-in-series-d

Southeast Asian payments infrastructure unicorn Xendit banks $300M

Xendit, a payments infrastructure platform for Southeast Asia, has raised $300 million in fresh funding. The company’s new valuation wasn’t disclosed, but it hit unicorn status in its last round of funding in September 2021. The new round brings its total raised to $538 million and was led by Coatue and Insight Partners, with participation from Accel, Tiger Global, Kleiner Perkins, EV Growth, Amasia, Intudo and Goat Capital.

Part of the funding will be used to expand into new markets, like Thailand, Malaysia and Vietnam. The company, which bills itself as “the Stripe of Southeast Asia,” also plans to add value-added services in addition to payments, like working capital loans. Xendit now has more than 3,000 customers, including Samsung Indonesia, GrabPay, Ninja Van Philippines, Qoala, Unicef Indonesia, Cashalo and Shopback.

The company says that over the last year, it grew annualized transactions from 65 million to 200 million, and increased total payments value from $6.5 billion to $15 billion. Xendit has made several strategic investments in companies that serve startups and SMEs, including private bank Bank Sahabat Sampoerna in Indonesia and payment gateway Dragonpay in the Philippines.

Xendit was founded in 2015 by chief executive officer Moses Lo and chief operating officer Tessa Wijaya.

For people who aren’t familiar with Southeast Asia’s fragmented payments landscape and the challenges its poses for businesses, Wijaya explained that “while the U.S. builds everything around credit cards, you just cannot do that in Southeast Asia. Credit card penetration is extremely low especially in countries like Indonesia, so we have to help merchants offer alternative payment methods.”

Fintech Firm Q2 Is Weighing Options After Takeover Interest

Q2 Holdings Inc., a banking-software provider, is weighing options including a sale after receiving takeover interest, according to people familiar with the matter.

The Austin-based company, which is working with a financial adviser, is fielding interest from potential private equity buyers, said the people, who asked to not be identified because the matter isn’t public. No final decision has been made and Q2 could opt to remain independent.

Q2 shares climbed as much as 11% after being temporarily halted in New York trading Tuesday. They traded around $46.10 apiece at 11:29 a.m., giving the company a market valuation of about $2.6 billion. Prior to the report, they dropped as much as 5.8% on the day and were down more than 55% in the past year.

A representative for Q2 didn’t immediately respond to requests for comment.

Private equity firms, with mountains of cash to put to work, have been aggressively pursuing software providers, which tend to generate steady cash flow. A dip in financial technology stocks in particular has also created buying opportunities. Thoma Bravo has approached banking software specialist Temenos AG about a takeover, Bloomberg News reported last month.

Q2 offers cloud-based digital banking, lending and other services to banks, financial technology firms, alternative finance providers and other clients. One of its main products, Helix, helps companies that want to be in banking, such as Betterment and Credit Karma Inc., offer finance products from checking accounts to debit cards, according to its website.

https://finance.yahoo.com/news/fintech-firm-q2-weighing-options-153056045.html

SBI Holdings to buy controlling stake in BITPoint for about $99 million, Cryptonews reports

Japanese securities and banking giant SBI Holdings will buy a controlling interest in BITPoint Japan, a crypto trading platform and domestic rival of SBI VC Trade, from its parent company, Cryptonews reported on Saturday, citing Nikkei’s Japanese news service.

SBI will buy a 51% stake of BITpoint from Remixpoint for $98.6 million. BITPoint’s market value was estimated at more than $193 million, the report said.

Remixpoint said it will “form a capital and business alliance” with SBI to expand its business through crypto collaboration, according to the report. SBI will also take a 5% stake in Remixpoint.

The report noted that the deal involves a provision that would entitle Remixpoint to receive future compensation if BITPoint meets a number of financial goals.

https://www.theblockcrypto.com/linked/146991/sbi-holdings-to-buy-controlling-stake-in-bitpoint-for-about-99-million-cryptonews-reports

Q&As with Multiverse Computing and AB Accelerator; Early stage European FinTech deals this week include Stanhope, Scalapay, Argent, Kevin, Starling Bank, Paddle

European FinTech deal this week includes Stanhope, Scalapay, Argent, Kevin, Starling Bank, Paddle

We feature Q&As with Enrique Lizaso Olmos of Multiverse Computing and Hala Zahran of AB Accelerator

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

7 Questions with Enrique Lizaso Olmos of Multiverse Computing

1. Tell us a bit about yourself and your company.

Multiverse Computing. Largest European Quantum Software Company. Backed by the European Investment Council and large VC. Third largest in the world after two American not-so-much-larger competitors. Delivering solutions to financial problems in optimization, machine-learning and pricing that are not correctly answered (or even not answered) with classical computers. Problems that range from $200-300 to $3B in impact in net income. Working for large customers (Top 10 Banks in the world), appeared in the Boston Consulting Group reports, The Economist, Forbes… Single European Company in McKinsey’s Quantum global Technology Council. 24 new patents/year, 34 people now, we are nearly 3 yr old!

Me: Mathematician, 20+ yr in finance (also Computer Engineer, PhD in biostatistics, MBA from IESE Business School -and also MD, yep). I can just speak when my Physics cofounders let me do 

http://www.fintechforum.de/7-questions-with-enrique-lizaso-olmos-of-multiverse-computing/

7 Questions with Hala Zahran of AB Accelerator

1. Please tell us a bit about yourself, both at work and leisure.

I am an early stage investor focusing on FinTech primarily B2C in MENA and B2B globally. I also spend a lot of time thinking and reading about the future of finance and ways technology can close the wealth gap across the globe and improve lives. I am a strong believer in the power of many, and the depth and breadth of the impact collaborative ecosystems and communities can have. I seek such opportunities.

http://www.fintechforum.de/questions-with-hala-zahran-of-arab-bank/

Stanhope Financial Group Raises USD10M in Series Funding

Stanhope Financial Group, a Dublin, Ireland-based global fintech company that provides businesses with a full suite of banking services, raised over USD 10m in Series A funding round.

The round was led by Gate Ventures.

The company intends to use the funds to develop its product offerings, strengthen the management team, increase its market share, and prepare for the launch of its upcoming affiliate digital assets division, SH Digital.

Led by Kevin von Neuschatz, Group CEO, and Mohit Davar, Executive Chairman, Stanhope Financial Group operates:

SH Payments, licensed as an Electronic Money Institution, which offers businesses banking services to send and receive money globally, including FX, multi-currency accounts, and innovative payments solutions

SH Capital, licensed in the DIFC, Dubai, which allows institutions and family offices to gain access to premium global investment products across all capital markets

SH Digital, which offers cryptocurrency liquidity and trading services.

Stanhope Financial Group has also been granted financial services licences by both the Bank of Lithuania and (IPA) by Dubai Financial Services Authority (DFSA).

Scalapay Raises $27M USD in Funding

Scalapay, an Italian Buy Now – Pay Later provider, raised $27M USD in funding in a Series B extension.

Poste Italiane made the investment.

This funding, an extension of Scalapay’s $497M USD Series B fundraising round, which was announced in February 2022, will go towards the continued expansion and development of the team, product development, and brand building. The company is also planning on expanding its executive team and company board. The additional funding brings total funding to date to $727M USD.

Scalapay is an innovative payment solution for e-commerce merchants across the globe that allows customers to buy now and pay later, without interest. Their BNPL offerings include three options for customers (Pay in 3, Pay in 4, and Pay Later) in which customers are not required to make any payments upfront, and can instead opt to pay in 3 installments, 4 installments, or entirely after 14 days. They are making the purchasing experience more delightful and easy for customers by lightening the financial impact.

Scalapay is an innovative payment solution for e-commerce merchants across the globe that allows customers to buy now and pay later, in three convenient pleasurable installments, without interest.

Argent decodes $40 million to scale DeFi and Web3 super app globally

The UK-based platform is building a single app for all things DeFi and Web3, and is actively exploring new features and verticals, including virtual real estate, gaming, DAOs and NFTs

London-based wallet for Ethereum-based digital currencies and blockchain applications, Argent has raised $40 million in funding to accelerate its mission to build one app for all things DeFi and Web3. The Series B round was led by Fabric Ventures and Metaplanet, with existing investors Paradigm, Index Ventures and Creandum and strategic investors, including Starkware, Jump and Animoca.

Founded in 2017, the platform is enabling customers to buy, trade and earn crypto at the tap of a button, reducing transaction fees from hundreds of dollars to cents, eliminating dated security measures, such as seed phrases, and all within a simple and clean user interface.

Since the launch of its new Layer 2 account last year, it has attracted more than 500,000 users. Going forward, the platform is building a single app for all things DeFi and Web3, and is actively exploring new features and verticals, including virtual real estate, gaming, DAOs and NFTs. 

Itamar Lesuisse, co-founder and CEO, Argent said: “For crypto to live up to its potential, it needs to break the stranglehold of big exchanges and incumbent wallets. The experience is too scary, expensive and insecure for most people. Argent fixes this.”

https://tech.eu/2022/04/28/argent-decodes-40-million-to-scale-defi-and-web3-super-app-globally/

Accel backs Vilnius startup with $65 million

Lithuanian fintech startup that provides advanced account-to-account (A2A) payment infrastructure to replace costly card transactions, Kevin. has raised $65 million in funding.

The Series A round was led by Accel, with participation from Eurazeo and existing investors, including OTB Ventures, Speedinvest, OpenOcean and Global Paytech Ventures. Other angel investors including Harry Stebbings, founder of 20VC; Ilkka Paananen, CEO and co-founder of Supercell; Amitabh Jhawar, former CEO of Venmo also participated.

The Series A funding comes just six months after the company secured its $10 million seed round and brings the total funding raised to $77 million.

Founded in 2018, kevin. offers innovative and convenient payment solutions that eliminate unnecessary intermediaries in the payment process. The company has taken advantage of the huge opportunity presented by open banking. Recently, the startup also dabbled in payments at point-of-sale terminals in physical stores by introducing NFC A2A payment solution with a seamless user experience comparable to that of a card payment.

https://tech.eu/2022/05/03/accel-backs-vilnius-startup-with-65-million/

Starling Bank Raises £130 Million at £2.5 Billion Valuation

Starling Bank, a top digital bank operating in the UK, has raised more money. According to multiple reports, Starling has raised £130 million at a £2.5 billion valuation. It was reported that Starling may use some of the new money to target acquisitions to complement its digital banking operations.

Goldman Sachs Growth Equity was said to lead the round as part of an extension of a Series D round from last year that valued Starling at £1.1 billion. As the valuation has jumped by more than 2X, it probably should be described as a Series E.

Anne Boden, CEO and founder of Starling, was quoted last month on the digital banks stellar growth. Boden stated: “We’ve had some big successes recently, we now have 7.5% market share of the SME market in the UK and we’ve done that in just four years. We’re now the most switched to bank in the UK in the last four quarters. More people are switching to Starling than any other bank and 68% more than our next competitor Lloyds Bank.”

According to Starling’s website, it has over 2.8 million individual accounts. At the beginning of he year, Starling reported that deposit base now stands at £8.4 billion, up from £4.8 billion this time last year, while we’ve expanded our lending from £1.9 billion to £3.1 billion.

As for potential acquisitions, one report said that Starling was eyeing platforms in the lending sector.

https://www.crowdfundinsider.com/2022/04/190320-starling-bank-raises-130-million-at-2-5-billion-valuation/

Paddle Raises $200 Million in Series D Funding

Paddle, a London, UK-based provider of a complete payments infrastructure for SaaS companies, raised $200m in Series D equity and debt financing at a valuation of $1.4bn.

The round, which brings the total raised to date to $293m, was led by KKR, with participation from existing investors FTV Capital, 83North, Notion Capital, Kindred Capital, and debt financing from Silicon Valley Bank.

The company intends to use the funds to strengthen the growth of its platform and expand its business reach.

Led by Christian Owens, CEO, Paddle provides SaaS companies with a payments infrastructure platform which integrates checkout, payment, subscription management, invoicing, international taxes and financial compliance processes.

The payments infrastructure is used by over 3,000 software companies in more than 200 markets worldwide.

The company has a team of 275 across offices in London and New York, with more hires expected to match its acceleration as a business.

Irish tech unicorn Wayflyer buys funding platform for content creators

After Dublin-based revenue-based financing platform Wayflyer raised $150 million in an all-equity Series B funding round to join the unicorn club at a $1.6 billion valuation in February, the startup is inching up to expand its presence in the influencer marketing space. It has now acquired creator funding provider Peblo.

The new buy will enable individual creators to access up to $2 million in financing, and expects to advance over $500 million to creators over the next year.

Founded in 2019, Wayflyer offers financing and analytics solutions to e-commerce businesses. Following the deal, Peblo will remain a standalone brand and its team of six will join Wayflyer’s team.

There are around 2 million creators globally earning an average of $100,000 each per year. These creators often have to wait up to 120 days to get paid by their partnering brands, which restricts their ability to grow their business. Peblo solves this pain point by providing funding to creators, plugging the gap between upfront cost and client payment. Customers are able to view invoices, brand deals and outgoings on an easy-to-use platform. By enabling creators to pay expenses and increase their spend on content, the platform allows them space to pursue more ambitious brand deals and accelerate their growth. 

Peblo will also be able to efficiently connect influencers with relevant e-commerce brands through Wayflyer’s platform, making the process of selecting and brokering influencer agreements seamless.

https://tech.eu/2022/05/05/irish-tech-unicorn-wayflyer-buys-funding-platform-for-content-creators/

Neobank Bunq Acquires Belgian FinTech TriCount, Adding 5.4M Users

Neobank Bunq, by acquiring Belgian FinTech TriCount, will add 5.4 million new users, a company press release said, and become Europe’s second-largest neobank, behind Revolut. It will also be updating its app to add features.

The bank will also introduce features like Bunq Jackpot, which gives Dutch, German and French users three chances to win €10,000 every month by using the app.

The users will be able to increase their chances of winning by using Bunq cards, by adding and keeping money in their Bunq accounts, and through inviting friends.

The release also noted that there will be other in-app changes, including upgrading its Home and Community tabs. The Home tab will let users group accounts, cards and other things, to customize the app to meet their needs.

The Community tab will add to ways users can interact with Bunq and other users, with sharing and responding options for posts like a social media app. The release said this will let users improve the experience of the app for others through sharing experiences.

The bank has also been vocal about wanting to boost its mergers and acquisitions, and buying TriCount will let the bank add easy access to various features to help make managing money easier.

“TriCount’s commitment to simplicity, transparency and community perfectly aligns with our own values,” said Ali Niknam, CEO and founder of Bunq.

https://www.pymnts.com/acquisitions/2022/neobank-bunq-acquires-belgian-fintech-tricount-adding-5-4m-users/

January Ventures Closed $21M Fund II

January Ventures, a Boston, MA- and London, UK-based venture capital firm, closed its second fund, at $21M.

Fund II investors include institutions like Wellington Management, Bank of America, IDEAL Investments, and The Kapor Foundation.

The fund will continue investing in formation stage B2B software startups. Out of this new $21M Fund II, the firm plans to invest in 35 to 40 companies.

Led by Maren Bannon, and Jennifer Neundorfer, January Ventures provides funding and connects founders to an operator network with more than 100 tech leaders who have worked at over 50 unicorn companies, including Uber, Twitter, Miro, Compass, Toast, Airbnb, Google, Amazon, and Stripe.

Since 2018, the firm has invested in 50 early stage tech startups including Ethena, Kapwing, PlanetFWD, Sonantic, Ntropy, Sorcero, Gable, Oula Health, Kinside and Elektra Health.

January Ventures has proactively built an investor base that reflects the diversity of its portfolio –  60% of its LPs identify as women.

Cipio unveils €202 million fund to back software-enabled businesses in Europe

Targetting B2B SaaS and software-enabled business models, the German company will typically make an investment of €5-15 million in each firm

Munich-headquartered growth stage technology firm Cipio Partners has wrapped up its latest fund with €202 million. Cipio VIII will follow the same investment strategy as its €174 million predecessor fund, CPF VII, which held a final closing in 2017.

According to Roland Dennert, managing partner, Cipio, the company will typically make an initial investment of €5-15 million in each firm. Giving more details about the sectors that will be backed by the recently closed fund, Dennert added: “The fund will focus on B2B SaaS and software-enabled business models such as marketplaces. It will also invest in deep tech businesses such as semiconductors. The current deal activities are particularly strong in big data, cyber security, AI and industrial software applications.”

The new fund has already completed two investments in European growth companies: Nuki, the Austrian smart-home developer, and Navvis, the Munich-based global leader in end-to-end solutions for reality capture and ‘digital twins’.

https://tech.eu/2022/05/04/cipio-unveils-eur202-million-fund-to-back-software-enabled-business-models-in-europe/

Felix Haas and other scene heads launch funds with 160 million euros

By entrepreneurs for entrepreneurs. This is the motto of the Munich investor network 10x, which has now set up a fund worth 160 million euros. According to the company, the money comes from around 200 founders and 48 business angels who are part of this network. The money pot is aimed at startups that are still in the early stages.

The fund was founded by IDnow founder Felix Haas, Andreas Etten, founder of Ada Health, media entrepreneur Andrej Henkler, Claudius Jablonka, former investor in Plug and Play Ventures, angel investors Robert Wuttke and Jan Reichelt and ex-Friendscout24 CEO Jan Becker. The seven Munich-based companies have known each other for years and are all founding partners of 10x. “The network has grown organically over decades and now we are bundling our activities at 10x,” jablonka writes on Linkedin. In total, the founding partners had previously invested in over 300 startups, it says – including Palantir, Tier Mobility and Volocopter.

The seven Munich residents raised the fund in April 2021. From which founders the money comes and from which countries the people come, is not publicly known. With 10x, they have already financed more than two dozen companies, according to Chrunchbase, including the Indian fintech Savein or the e-commerce startup Zowie from the USA

Valia Ventures Closes Fund II, at $50M

Valia Ventures, a New York, San Francisco, and London, UK-based early stage venture capital firm, closed its second fund, at $50M.

Valia Ventures II brings together a strategic group of limited partners including experienced startup founders, technology executives, international family offices, and institutional investors such as Tiger Global Management.

The fund will be initially investing up to $1M at the pre-seed and seed stages, while reserving additional capital for follow-on rounds. The firm will maintain its generalist approach, investing across sectors including, but not limited to; fintech, healthcare, consumer, and enterprise software.

Led by Khaled Jalanbo, Managing Partner, Valia also runs an active co-investment program, investing $2M to $10M in growth stage rounds of its existing portfolio companies and in select new opportunities.

Portfolio companies include Humane, Lendtable, Relativity Space, Selfbook, and System.

Meet us at:

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

B2B FinTech Radar: 11th May 2022

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

Founders Fund & Ramp co-led a $2.6M financing for the 8-person startup

PayTic secures $2.95M seed financing led by Build Ventures

Masa Finance gets $3.5M pre-seed to build its decentralized credit protocol

Introducing Allocate announcing our Series A round!

Accern lands $20M for AI that analyzes financial documents on the web

Blockchain wallet solution Venly plays in €21 million to bring more gaming and e-commerce users into Web3

Concerto Launches Platform to Reimagine Credit Card Programs; Receives $21 Million From Matrix Partners, PayPal Ventures and GoldenTree Asset Management

rali_cap gets backing from global VCs and launches $30M fintech fund for emerging markets

Amberdata raises $30M to chase the ‘unlimited opportunity’ of bringing traditional finance into web3

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


Q&A with Virginia Bassano of Eight Roads

1. Please tell us a bit about yourself, both at work and leisure.

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.

http://www.fintechforum.de/category/7-questions/sef/

Estonia’s LHV Group invests in core banking startup Tuum

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

The strategic investment means that LHV is now a partner, customer and investor in local outfit Tuum, which offers an API-first, cloud-agnostic and modular banking platform that covers all retail and business banking processes.

Last October, Tuum gained access to LHV’s services, enabling it to provide customers with real-time pound and euro payments, virtual Ibans, currency exchange accounts and currency exchange transactions.

Then, last month LHV also selected Tuum to provide the core infrastructure for its banking operations in the UK.

Madis Toomsalu, CEO, LHV Group, says: “For LHV, this is an investment that will help us combine our own interests with a strategically important partner and further strengthen our position among financial technology companies.

“Together with Tuum, we can give fintech start-ups and companies operating in other fields the opportunity to enter the market with new flexible financial products more easily and faster.”

https://www.finextra.com/newsarticle/40164/estonias-lhv-group-invests-in-core-banking-startup-tuum

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

Cheq, the fintech enabling easier cryptocurrency payments, has raised a $2 million pre-seed round led by Connect Ventures, alongside Semantic Ventures, firstminute Capital, and 30 angels including former leadership from Monzo, Revolut and Tide.

The funding will enable Cheq to establish itself as the primary option for taking payment with stablecoins that are pegged to the US dollar, removing price volatility for both merchant and consumer. The result is a user experience similar to traditional payment platforms but without intermediary fees and cumbersome approval requirements.

Chris Butcher (formerly co-founder and CTO of Portify) founded Cheq in December 2021 after his crypto side-project Token Alerts found success in Latin America. He realised many consumers in the region are turning to stablecoins as a way of protecting their wealth against hyperinflation that their native currencies may be prone to. Traditional payment infrastructures can be less effective in some regions, and crypto payments present the solution for these regions. However, existing crypto payment solutions do not deliver a user experience that is accessible to the mass market.

With Cheq, users can connect a crypto wallet to the platform and instantly access a user interface similar to a modern neobank. Cheq instantly creates payment links that can be embedded on a website or shared on social media so customers can pay with crypto in a single click. Cheq is able to collect information including names and addresses from the buyer and can be configured to perform follow-on actions with other services for merchants to fulfil orders.

https://www.finextra.com/pressarticle/92492/fintech-startup-cheq-raises-2-million-to-bring-crypto-to-the-masses

Tactic wants to reinvent accounting software for the web3 age

Founders Fund & Ramp co-led a $2.6M financing for the 8-person startup

Tactic, a startup that helps businesses manage — and simplify — cryptocurrency finances, is emerging from stealth today with $2.6 million in seed funding.

Founders Fund and finance automation startup Ramp co-led the raise for Tactic, an eight-person outfit based in New York City. Elad Gil and Figma co-founder Dylan Field also participated in the funding.

CEO Ann Jaskiw founded Tactic after learning that founders in web3 were handling their accounting in spreadsheets. Existing accounting software providers, she concluded, “were not built to handle crypto transactions.”

The core of Tactic’s product, said Jaskiw, is to help a CFO or head of finance answer the question, “Where did the money go?” at the end of a quarter.

“Right now for most financial professionals, their audit trail of crypto transactions is a debit transaction from Silicon Valley Bank or whichever bank, into a centralized exchange like Coinbase,” Jaskiw explained. “Tokens leave that central place, and it then becomes a big bit of a question mark. What we’re seeing is people are spending a lot of time in manual spreadsheets, trying to track what transactions happen and trying to calculate their gain and loss. It’s just incredibly cumbersome currently.”

PayTic secures $2.95M seed financing led by Build Ventures

PayTic, a new solution that streamlines the back-office operations and risk control of digital payments for banks and FinTechs, announces the close of a $2.95M funding round led by Halifax-based Build Ventures. Island Capital Partners, Concrete Ventures and Outlierz Ventures completed the remainder of the round. With this technology, PayTic brings together reconciliation, chargebacks, risk control and regulatory reports in one agile SaaS platform.

In the absence of industry-dedicated program management solutions, most of the large banks, processors and more broadly, payment issuers and acquirers are using large excel spreadsheets to reconcile settlements, control risks and track chargebacks. This is causing potential errors, compliance issues and resulting in a high cost of operations. In such a competitive and very sensitive industry, PayTic’s goal is to help Banks and Fintechs increase control, transparency and auditability of payment products with less effort and cost. The solution is cloud based and requires little to zero integration from the client side. Perhaps most appealing, a client can be onboarded with the processor of their choice in less than five business days.

PayTic’s CEO, Imad Boumahdi, immigrated to Charlottetown in 2018 with over 15 years of experience in the payments industry. He recognized that over the last decade, FinTech has been primarily focused on improving the checkout experience, which added more complexity to the operations and risk control. In response, he has built the technology to bring the back-end of managing payments up to speed by streamlining and digitizing the cross functional processes behind payments. PayTic uniquely offers an all-in-one solution that centralizes the program management for banks, FinTechs, and credit unions, so they don’t have to navigate siloed technologies and systems to reconcile payments, detect frauds, manage disputes and fill in the regulatory reports. Paytic’s main competition today is Excel.

Masa Finance gets $3.5M pre-seed to build its decentralized credit protocol

Masa Finance, a hybrid credit protocol and decentralized credit bureau founded by Pngme CEO Brendan Playford in late 2020, has raised $3.5 million in pre-seed funding. According to a statement, the company seeks to “disrupt traditional centralized credit infrastructure by providing individuals, businesses and developers with the tools to access credit” via blockchain technology.

The core principle for blockchain centers on the ownership of assets, including money and financial data. The system somewhat tries to reduce the control of traditional financial institutions such as banks and credit bureaus which have, for decades, collected and stored financial information of the world’s banked people.

Decentralized finance’s premise transcends this segment of banked people. Analysts have argued that the technology can reach places not covered by these financial institutions. According to them, blockchain can allow the unbanked to have faster access to services such as lending, borrowing and buying insurance.

Yet, there’s still room for collaboration between both worlds, or at least in Masa Finance’s case, even as it targets underserved people.

Masa Finance links traditional financial accounts and assets from credit bureau systems and bank data to crypto holdings of users. This connection allows the company to create non-fungible credit reports for users, which they can use to access credit and other financial tools

Introducing Allocate announcing our Series A round!

We’re thrilled to announce the closing of our $15.3MM Series A round led by M13 Ventures, with participation from SignalFire, Bedrock Capital, Intera Capital, Secocha Ventures, and returning investors Broadhaven Ventures, Ulu Ventures, Urban Innovation Fund, Fika Ventures, Basis Set Ventures, Tusk Ventures, and Anthemis Group.

Although we just recently launched, over 200 investors have deployed >$125MM into venture fund products on the Allocate platform. We have also grown our team to seventeen team members across engineering, operations, and investment management who previously held roles at leading institutions such as SVB, First Republic, Icapital, Vistaprint, Hamilton Lane, Fidelity, and AngelList.

https://samirkaji.medium.com/introducing-allocate-announcing-our-series-a-round-b57b531dd0f

Accern lands $20M for AI that analyzes financial documents on the web

Accern, which uses AI to analyze online conversations around particular companies, trends and industries, today announced that it raised $20 million in a Series B round co-led by Mighty Capital and Fusion Fund alongside Tribe Capital, Shasta Ventures, Gaingels, and others. CEO Kumesh Aroomoogan says that the new capital will be put toward “product-led growth,” expansion into new markets and R&D on Accern’s AI technologies.

“More than 80% of the world’s data is unstructured. Unstructured data requires a hyper-manual process to structure data at scale, consuming expensive data science resources throughout an organization,” Aroomoogan told TechCrunch via email. “Due to the extreme human capital and time costs, unstructured data isn’t efficiently analyzed and is often left out of historical data decisions. The end result affects all organizations’ decision-making capabilities and adds additional risk to their respective portfolios and balance sheets.”

Kumesh Aroomoogan, a former research analyst for Wall Street firms including Citigroup, co-founded Accern with Anshul Vikram Pandey in 2014. Originally, New York-based Accern focused on monitoring the web for — and curating — a narrow set of financial information, particularly that pertaining to stocks. But the company later broadened its scope to other aspects of corporate finance, like credit and fraud monitoring and compliance.

To customers, Accern provides AI-powered apps and natural language processing (NLP) models trained to recognize, classify and extract domain-specific financial language. The service can scan public sources, including news publications, blogs and SEC filings, to gauge consumer sentiment, for example, or predict how supply chain disruptions might impact a business.

Blockchain wallet solution Venly plays in €21 million to bring more gaming and e-commerce users into Web3

To increase its reach in the gaming industry, the Belgian startup will launch an accelerator track for game studios and web3 startups

Just as we put the spotlight on Belgium with our Tech.eu Summit in Brussels happening on 17 May, another Belgium-based blockchain technology provider Venly is upping the game in the blockchain segment.

The Antwerp-based blockchain-agnostic technology provider (previously Arkane Network) has raised over €21 million in funding to develop products centered around new benefits to web3 users in gaming and e-commerce. The Series A round was led by Courtside Ventures with participation from Transcend Fund, Coinbase Ventures, Tioga Capital, HTGF, Fortino Capital, Plug and Play, LeadBlock Partners, Imec.Istart, and Alpaca VC.

https://tech.eu/2022/04/28/blockchain-wallet-solution-venly-plays-in-eur21-million-to-bring-more-gaming-and-e-commerce-users-into-web3/

Concerto Launches Platform to Reimagine Credit Card Programs; Receives $21 Million From Matrix Partners, PayPal Ventures and GoldenTree Asset Management

Concerto, a new company created to power credit card partnerships that enhance the user and product experience for consumers and businesses, today unveiled its next-generation card issuing and loyalty platform. The Concerto platform is purpose-built and designed to support the creation and management of co-branded credit card programs. It launched with a number of initial partners, including the Texas Rangers, Los Angeles Angels, Baltimore Orioles and Cincinnati Reds professional baseball teams.

To support the growth of the platform, Concerto also announced that it has raised $21 million in early-stage, strategic funding. Matrix Partners led the round, with PayPal Ventures and GoldenTree Asset Management also participating. Additionally, GoldenTree has formed a joint venture with Concerto that will fund a minimum of $2 billion in credit card receivables.

“Our significant commitments include both an equity investment and an agreement to fund at least $2 billion in credit card receivables, reflecting our strong belief in the Concerto team, its business model and the tremendous opportunity ahead,” said GoldenTree Partner Joe Naggar.

Concerto architected a superior platform that combines leading-edge card issuing technologies and advanced analytics to construct and deliver credit card programs that excite brand partners and thrill their customers. Its cloud-based platform and API-centric approach also dramatically accelerates the development and deployment of large, customized partner programs.

https://www.businesswire.com/news/home/20220428006346/en/Concerto-Launches-Platform-to-Reimagine-Credit-Card-Programs-Receives-21-Million-From-Matrix-Partners-PayPal-Ventures-and-GoldenTree-Asset-Management

rali_cap gets backing from global VCs and launches $30M fintech fund for emerging markets

Rali_cap, an early-stage venture capital firm focused on emerging markets fintech, has launched a $30 million fund. Last month, the firm, formerly known as Rally Cap Ventures, reached its first close of $20 million (its initial target) before increasing the fund size, signaling a strong LP appetite.

The two-year-old VC fund invests in B2B and API-first fintechs across Africa, Latin America and South Asia at pre-seed and seed stages. It expects to achieve a second close by the end of June.

Rali_cap was first a collective before a fund, Hayden Simmons, the general partner who launched the firm in 2020, told TechCrunch in an interview.

As someone who is hands-on — he boasts a decade of experience working for emerging market fintechs such as Migo, Novi and Juvo in business development and partnership roles — Simmons said he saw a prospect in aggregating a community of “experts” (primarily operators and angels) to collaborate via Slack on deal sourcing, due diligence and founder support and invest in emerging market fintechs. 

“This way, we thought we could outperform traditional venture models in driving value to founders and getting more people involved in the venture capital game,” Simmons told TechCrunch on a call. 

Amberdata raises $30M to chase the ‘unlimited opportunity’ of bringing traditional finance into web3

Amberdata, an institutionally focused digital asset data provider, has raised $30 million in its Series B, its CEO Shawn Douglass exclusively told TechCrunch.

The company is now valued at $330 million and has raised a total of $47 million to date, including its seed round worth $2 million and Series A totaling $15 million.

“We decided to do this raise right now because we grew so much in the past year that there’s an unlimited opportunity to go out and be the infrastructure that enables all institutions to onboard digital assets,” Douglass said.

The capital will be used to build new product lines, and although Amberdata has existing deals in the U.S., U.K., Latin America, Singapore and Australia, it wants to expand more globally, Douglass said.

As its name suggests, Amberdata provides data and insights into blockchain networks, crypto exchanges and decentralized finance for some of the largest financial and digital asset institutions, like Citi, Coinbase, Nasdaq and Franklin Templeton, among others.

“If you think about this, digital assets will touch every person and business on the planet and transform finance, and that requires data and insights to be able to embrace that,” Douglass said.

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

The company intends to use the fresh funds to expand in new geographies, including international expansion into Southeast Asia scale its leadership team and strengthen its product line.

Insurtech startup Turtlemint has raised $120 million led by Amansa Capital, Jungle Ventures and Nexus Venture Partners, the company said on Friday. The online platform for buying insurance has closed the current financing round at a $900-950 million valuation, said a person in the know. The fundraise also saw participation from new backers Vitruvian Partners and Marshall Wace, along with other existing investors.

Turtlemint intends to use the fresh funds to expand in new geographies, scale its leadership team and strengthen its product line.

Founded in 2015 by Dhirendra Mahyavanshi and Anand Prabhudesai, Mumbai-based Turtlemint is a platform that helps financial advisors understand and distribute insurance to their community of customers. It aims to assist these advisors to cater to the individual needs of each customer by providing digital solutions.

Prabhudesai said in a prepared statement, “India is at a critical juncture, particularly in terms of demand for health insurance products. Tier II-III cities will account for a significant portion of this demand… As individuals continue to seek assistance during purchase and claim journeys, the last-mile distribution needs to be empowered with the best technology. This is what our offline-online strategy solves for customers.”

https://www.insurtechinsights.com/insurtech-startup-turtlemint-bags-120-million-as-valuation-tops-900-million/?utm_medium=email&utm_campaign=Newsletter%209%20May%202022%20New&utm_content=Newsletter%209%20May%202022%20New+CID_529a228cab08ebe2d626e907f0b23dec&utm_source=Campaign%20Monitor&utm_term=Read%20More

Inside MassMutual Ventures’ new fund

MassMutual Ventures’ announcement on April 27 of a new $300 million fund targeting start-ups in digital health, cybersecurity, enterprise SaaS and financial technology looks to be a force for innovation in insurtech.

Doug Russell, managing director and head of MassMutual Ventures, gives examples of types of insurtech technologies and some specific companies and products that the fund looks for or has already invested in.

“For cybersecurity, we look for a piece of technology that a cybersecurity company has developed that is gaining traction with existing insurance and financial services firms,” he says. “When evaluating companies, we spend a lot of time talking to insurance companies’ CISOs, financial services companies’ CISOs and our broad network to understand the degree to which those companies are likely to adopt that technology.”

Within its sector choices of healthcare and financial technology, the venture capital firm is particularly interested in decentralized finance and AI/ML applications.

MassMutual Ventures’ new fund brings its total investment in technology startups to $750 million, spread among several regional portfolios in the US and Asia-Pacific. Two-thirds of that total has already been committed to companies. The new fund marks MassMutual Ventures’ first entry into Europe. Overall, MassMutual Ventures has about $300 million in US funds, with about $100 million in each of three funds. The firm’s Asia-Pacific arm has three funds, the first started with $50 million and the second with $100 million, plus the new $300 million fund. The firm sources all of its capital from its parent MassMutual’s general investment accounts.

https://www.insurtechinsights.com/inside-massmutual-ventures-new-fund/?&utm_medium=email&utm_campaign=Newsletter%209%20May%202022%20New&utm_content=Newsletter%209%20May%202022%20New+CID_529a228cab08ebe2d626e907f0b23dec&utm_source=Campaign%20Monitor&utm_term=Read%20More

‘The Hybrid Broker’ – Tomaso Mansutti, wefox in ‘The Insurtech Magazine’

Europe’s digital wunderkind, wefox, believes a broker network powered by humans is still the future of insurance. Tomaso Mansutti, head of international partnerships at the company, tells us why

There is probably no more oversimplified and overworked word in the insurtech industry than digitisation. It has seized the cultural zeitgeist of insurers across the globe as the be-all-and-end-all of modernisation.

It’s not hard to see why. E-commerce and ever-more-sophisticated APIs have cemented digital as the standard means of communicating B2B and B2C. As it stands, around 62.5 per cent of the world’s population uses the internet, more than half of whom access it through their smartphones, according to DataReportal’s Digital Around The World research report. And, looking at just one type of insurance, in just one country, in 2019 Statista found that over half of the UK population bought vehicle cover online, 62.4 per cent of them drivers over the age of 65. There are 20 million households with motor insurance in the UK – the maths speaks for itself. Digitisation is something insurers couldn’t ignore.

Q&As with PostFinance AG and 9fin; Early stage European FinTech deals this week include Pillar and Seon

European FinTech deals this week include Pillar and Seon

We feature Q&As with Javier Correa of PostFinance AG and Hussam EL-Sheikh of 9fin

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech with Javier Correa of PostFinance AG

1. A year since the first lockdowns- is this a good time to be building or scaling an Enterprise FinTech (/ InsurTech) firm in Europe?

Yes, generally it always is, as long as there is a strong value proposition behind and clearly articulated. There is incremental talent looking to jump into an exciting journey. Customers and prospects have been made strongly aware of additional needs and/or of the advantages from innovative business models/technologies/products and services. In addition, deep pools of capital looking for attractive opportunities to support these teams.

http://www.fintechforum.de/5-questions-with-javier-correa-of-postfinance-ag/

7 Questions with Hussam EL-Sheikh of 9fin

1. Please tell us a bit about yourself, both at work and leisure.

Hey I’m Huss, CTO & Co-founder of 9fin. I think I’d describe myself as an engineer in every sense of the word. So, via a degree in Aerospace Engineering, taking apart my siblings’ toys as a child, learning programming at school from age 12, I find myself now running a technology startup serving up news, data and analysis to the financial markets. I love Formula 1, and it’s been a very stressful (but exciting) 2021 championship this year. I’m trying to get better at badminton after taking it up for the first time a couple of years ago… At least my height lets me get away with not being any good yet!

http://www.fintechforum.de/7-questions-with-hussam-el-sheikh-of-9fin/

UK-based Pillar picks up €15.6 million to tackle credit access problem for migrants

The reality is that new immigrants are excluded from the financial system, on a global level, and it’s a problem that creates financial disparity, social hardship and exclusion. On a mission to eradicate this discriminatory issue, Pillar has just picked up about €15.6 million in pre-seed funding to build a new credit platform. 

The funding was led by VC firms Global Founders Capital and Backed VC. A number of high profile angels have also contributed to the raise, including the founders of WageStream, Peter Briffet and Portman Wills as well as the powerhouse investor and former VP and investor of AirBnB Oliver Jung.

Founded in 2021 by well-known Revolut alumni Ashutosh Bhatt and experienced fintech CTO, Adam Lewis, Pillar’s technology will provide individuals moving to new countries with access to a variety of credit products in their new locations, that would have previously been unattainable.

With the current structure of the credit referencing market, a consumer cannot take their credit file from one country to another. As such, nearly all immigrants find themselves excluded from everyday products such as credit cards and loans. Those that do manage to access a product find themselves paying a disproportionately higher cost of borrowing.

At the heart of Pillar’s product is a proprietary Open Banking-led data and analytics engine that will power the global scalability of the platform. The launch is planned for Q3 in 2022. 

Ashutosh Bhatt, CEO of Pillar, commented: “Ever since I moved to the UK and found I couldn’t access any of the everyday products I had in India this has been a problem I have been passionate about solving. I arrived earning a good salary at Barclays and found I couldn’t even get an iPhone! Fourteen years later, and the world of credit still hasn’t changed, so we have set upon building a globally scalable platform that breaks down data silos and credit borders as well as solves this massive problem faced by financially secure people moving to a new country.”

Fintech Seon, which Specializes in Fraud Prevention, Acquires $94M in Funding

Seon, a startup that’s focused on assisting Fintechs like Revolut with addressing online fraud, has secured $94 million in capital, in order to implement various tools for preventing sanctions evasion by Russia.

The London-headquartered firm secured the funding via an investment round that was led by IVP, which is the Silicon Valley-based investment company that has supported Netflix and Twitter.

IVP Partner Michael Miao has now joined Seon’s board.

Existing investors Creandum, an early Spotify investor, as well as PortfoLion, have contributed to the raise as well. Angel investors such as Coinbase COO Emilie Choi and UiPath CEO Daniel Dines joined as well.

Seon, which counts Afterpay, Nubank, and Revolut, as clients, stated that its tech is specifically developed to make it easier for companies of all kinds to fight fraud.

Its software analyzes a client’s email address, phone numbers and various other data points in order to create a “digital footprint,” and then leverages machine learning to figure out if they’re legitimate or suspicious.

The company has been valued at $500 million following its latest round. This, according to sources cited by CNBC (which claimed to be familiar with the matter).

Tamas Kadar, CEO and Co-founder at Seon, noted that his firm has seen greater demand for tools that identify transfers from sanctioned persons and other entities (in addition to “politically exposed persons” during the Russian invasion of Ukraine).

Part of the proceeds will be channeled towards the potential use of Fintech apps for money laundering and sanctions evasion.

Kadar said that they are “working on an arm to support this need from our client base.”

Seon is also currently working on a function that should be able to verify companies online and determine if their shareholders have been placed on sanctions lists.

These types of tools may identify if someone is “just creating shell companies to launder money,” or “as a fake identity to hide their assets,” Kadar added.

https://www.crowdfundinsider.com/2022/04/189994-fintech-seon-which-specializes-in-fraud-prevention-acquires-94m-in-funding/

Robinhood to Buy London-based Fintech Ziglu

Investing.com —  Robinhood Markets Inc (NASDAQ:HOOD) revealed in a post on its blog on Tuesday that it has signed a deal to acquire Ziglu, a UK-based “electronic money institution and cryptoasset firm.”

Shares of the popular trading app maker rose 3.4% on Tuesday.

Robinhood is waiting to launch in the UK after previously halting plans. However, the deal for Ziglu will help accelerate its expansion in the UK and Europe, the company said.

Ziglu customers are able to buy and sell 11 cryptocurrencies, earn yield through its “Boost” products, pay using a debit card and spend money abroad without fees, Robinhood said in its post.

“Ziglu’s impressive team of deeply experienced financial services and crypto experts will help us accelerate our global expansion efforts,” said Vlad Tenev, CEO and Co-Founder of Robinhood Markets. 

Adding: “Together with the Ziglu team, we’ll work to leverage the best of both companies, exploring new ways to innovate and break down barriers for customers across the UK and Europe.”

Following the news, JMP Securities analyst said the deal should accelerate Robinhood’s crypto expansion.

https://www.investing.com/news/stock-market-news/robinhood-to-buy-londonbased-fintech-ziglu-2806313

Mundi Ventures opens €250-million fund with €120 million to back insuretech firms

The Insurtech Fund II will invest in Series A and Series B with inflows of up to €5 to €10 million in Europe

Madrid-based venture capital firm Mundi Ventures has rolled out its second insuretech fund. The Insurtech Fund II will focus on the insurance sector and cover insuretech as well as fintech, deeptech, or healthtech startups that work with the insurance sector. It has already opened the fund with more than €120 million, out of €250 million it is seeking.

Founded by Moises Sanchez and Javier Santiso, the fund will invest in Series A and Series B with inflows of up to €5 to €10 million in Europe. With the new fund, it is doubling the size and expanding with several additions in the investment team, operations and senior advisors. It has already invested in France-based Convelio. Other investments are pending in the U.K.

The insurtech fund currently has 6 unicorns in its kitty, including Wefox (Berlin), Klarna (Stockholm), Job&Talent (Madrid) and Shift Technology (Paris).

https://mail.google.com/mail/u/0/?ui=2&ik=9833591bd1&view=lg&permmsgid=msg-f%3A1731247105366133700&ser=1

Meet us at:

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Previse and Margaris Ventures;FinTech deals this week include Leatherback, Zevoy, Stenn,Wagestream and Capital on Tap

European FinTech deals this week include Leatherback, Zevoy, Stenn,Wagestream and Capital on Tap

We feature Q&As with Paul Christensen of Previse and  Spiros Margaris of Margaris Ventures

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Paul Christensen of Previse

1.​ Tell us a bit about yourself and your company

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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-paul-christensen-of-previse/

 7 Questions with Spiros Margaris, Margaris Ventures

1.  Please tell us a bit about yourself, both at work and leisure.

My name is Spiros Margaris, and I am a venture capitalist (VC) and the founder of Margaris Ventures. I have been in the investment business for quite some time, with more than 25 years of international experience in investment management/research and startups. In my role as a VC, I also act as an advisor to my globally spread FinTech and InsurTech startup portfolio. I am the first international influencer to achieve ‘The Triple Crown’ of influencer rankings by being ranked the global No. 1 FinTech, artificial intelligence (AI) and blockchain influencer by Onalytica in 2018. I am very fortunate to regularly appear in the top three positions of the established global industry influencer rankings due to the generous support of great FinTech industry friends and participants. In 2017, I had the opportunity to give a speech at the TEDxAcademy Talk. In addition, for the enterprise software vendor SAP, I wrote an AI white paper, ‘Machine learning in financial services: Changing the rules of the game’.

http://www.fintechforum.de/7-questions-with-spiros-margaris-margaris-ventures/

UK fintech startup Leatherback raises $10M for its cross-border payments led by ZedCrest

Immigrants, international students, and the migrant population in general all require international payments, or foreign exchange. Revolut and Wise are among those platforms to have taken advantage of this international audience. Now, fintech startup Leatherback, a U.K.-based cross-border payments platform, has raised what it describes as a $10 million pre-seed round led by ZedCrest Capital, a pan-African investment firm.

Leatherback offers a multiple currency solution for cross-border transactions.

Co-founder and CEO Ibrahim Toyeeb said in a statement that the funding would “be deployed to raise Leatherback’s profile in the Fintech arena as well as extend its capacity in the many countries it’s licensed in and where it is about to be approved. These include South Africa, Egypt, Uganda, India, and the UAE.”

Prior to this round, the company said it was bootstrapped by the founders.

“As principal investors, we love opportunities where we can bring our expertise to bear,” Zedcrest Capital’s group managing director, Adedayo Amzat, said. “It has been rewarding to provide operational and strategic support to Leatherback in its quest to build the perfect compliance, technology, and finance infrastructure that will allow it to be the operating system of choice for the global mobility of businesses and individuals.”

U.K.-based Leatherback offers multi-currency accounts with the option to exchange currency across multiple countries, including the United Kingdom, Canada, India, Nigeria, Egypt, Uganda, Tanzania, Angola, South Africa, the UAE, Denmark, Ghana, and Côte d’Ivoire.

Finnish FinTech Zevoy Raises $16M to Roll Out Across Europe

Zevoy, the Finland-based FinTech, has closed on a 15 million euros ($16.3 million) Series A funding round, the startup announced Tuesday (April 12).

The cash will be used to launch in eight European markets during the next few months.

This round was led by Blossom Capital, the London-based venture capital company, alongside European investors Maki.vc and Brightly Ventures.

Founded in the summer of 2020, Zevoy offers an expense management solution, as well as credit and prepaid debit, to its clients.

Zevoy is expected to secure a credit institution license this year, which will allow the firm to accept deposits.

“Expense management is a big pain point for many companies and their employees,” said CEO Christoffer Rosqvist in a statement. “To solve this, Zevoy offers an all-in-one business card with which you can scan receipts, match purchases with receipts, manage and forward expenses digitally into accounting.”

Zevoy focuses on underserved markets and growing companies have proven to be a sweet spot, he added.

Last month, PYMNTS reported that the while Nordic region may be small, with a population fewer than 6 million in Norway, Denmark and Finland, they are global leaders in innovation.

https://www.pymnts.com/news/retail/2022/the-vitamin-shoppe-parent-franchise-group-offers-9b-for-kohls/

London-based fintech Stenn raises $50M on a $900M valuation for its platform that helps SMEs access supply chain finance

Stenn, a global non-bank trade finance provider, has raised $50M (approximately €46M) at a valuation of $900M (approximately €832M). With globalisation at the centre of every major change in the economy, Stenn offers a platform that helps players in this globalisation drive gain access to financing.

The past few years have seen globalisation reach a fever pitch where every company now operates across borders and in order to keep up with this change, the manufacturing and logistics sector has also evolved. While it is easier for product companies to raise capital, Stenn has built a platform that helps players in the supply chain get access to capital.

A research from Accenture shows that SMEs currently face a global financing gap of $3.6T. This gap is expected to rise to $6.1T within the next three years. With SMEs responsible for more than a quarter of global trade, the research shows that these businesses have struggled to access financing despite their major role in global trade.

The lack of access to easy financing has restricted the growth potential of these small and medium enterprises. Stenn was founded in 2015 to solve this very problem and has provided over $6B of financing to SMEs in over 70 countries since its inception. It has helped SMEs from sectors such as retail and IT services to access financing, and its platform has financed over $1B of transactions to date in 2022.

“A lack of access to finance is stunting the growth of SMEs around the world that are engaged in international trade. At Stenn, our purpose has always been to level the playing field for global SMEs, helping to plug a multi-trillion-dollar financing gap by connecting these businesses with low-cost institutional capital,” founder and CEO Greg Karpovsky says.

https://www.finextra.com/pressarticle/92251/indias-lendenclub-launches-fintech-venture-fund

Wagestream Raises $175M in Series C Funding

Wagestream, a London, UK-based provider of a financial wellbeing app, raised $175M in Series C funding.

The round was led by Smash Capital, with participation from Epic Games, Reddit, SonderMind, and DuckDuckGo, with participation from BlackRock, Balderton Capital, Northzone, Fair By Design, and Silicon Valley Bank.

The company intends to use the funds to scale up its presence in new markets such as the U.S.

Founded in 2018 by Peter Briffett (CEO), Portman Wills (CTO) and a group of leading financial charities, including Joseph Rowntree Foundation, Barrow Cadbury Trust, Social Tech Trust, Big Society Capital, and the Fair By Design fund, Wagestream is a financial wellbeing app designed for frontline workers and built around their pay. Offered through caring employers, it makes work more inclusive, fair and rewarding for people – by giving them access to fair financial services built around flexible pay.

Workers access Wagestream through participating employers, who subsidize the service. The app syncs with payroll systems and allows employees to access and manage their income – either directly through the app, or as an integration with workforce management technology partners. Additionally, the app provides users with a variety of financial services to help them build up their financial health over time. For example, people can choose how often they’re paid, track their shifts and pay each day, build savings and win prizes, access free financial coaching, and get fairer deals on products – like insurance and utilities – than they would have access to elsewhere.

More than one million workers in industries such as retail, hospitality and healthcare are currently able to use the app through employers including Burger King, Pizza Hut, Crate & Barrel, Bupa and the UK’s National Health Service. One million workers now can access Wagestream globally through over 300 employers in the U.S., UK, Spain and Australia.

Fintech turns on capital taps with $200m funding for US expansion

London-based fintech Capital on Tap has secured a $200m (£153.6m) investment from HSBC and Värde Partners to continue expanding its SME funding service in the US.

Founded in 2012, Capital on Tap provides business credit cards that come with spending controls, reporting and rewards.

The alternative lender initially focused on the UK market but launched a US business credit card in March 2021.

Across both markets, it has provided more than £3.5bn in funding to over 125,000 SMEs. It provides a credit facility of up to £150,000 and doesn’t charge for ATM use in the UK.

Capital on Tap’s market includes businesses with a turnover of at least £2,000 per month.

As part of its move into the US market, Capital on Tap established an office in Atlanta, adding to its presence in London and Cardiff.

The fintech company has 50 people at its Atlanta office and will use the fresh investment to increase hiring.

Alan Hart, CFO, Capital on Tap, said: “With the closing of this facility we are looking forward to expanding our ability to provide essential funding for small businesses across the United States. We are thrilled to be joined in this mission with Värde Partners as well as extending our already international relationship with HSBC.”

The latest investment follows a £450m funding facility closed in November last year, which also saw HSBC provide capital.

“We see this as a good example of an emerging substantial investable opportunity set for us, providing capital solutions to digitally-oriented non-bank lenders that are financing the needs of businesses investing in their products and customers,” said Aneek Mamik, partner and global co-head of financial services at Värde Partners.

Capital on Tap’s latest funding follows a bumper 2021 for UK fintech investment, with companies raising $11.6bn in capital.

Meet us at:

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Bokio and Universal-Investment; European FinTech deals this week include Express Group, Carmoola, Fidel API and RITMO

European FinTech deals this week include Express Group, Carmoola, Fidel API and RITMO

We feature Q&As with Viktor Stensson of Bokio and Daniel Andemeskel of Universal-Investment

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Viktor Stensson, CEO of Bokio

1. Tell us a bit about yourself and your company.

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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-viktor-stensson-ceo-of-bokio/

7 Questions with Daniel Andemeskel of Universal-Investment

1.  Please tell us a bit about yourself, both at work and leisure.

Hello, I am Daniel Andemeskel, Director and Head of Innovation Management at Universal-Investment. I am currently responsible for the Group’s innovation agenda while at the same time developing the next generation investment platform for digital assets, leveraging on Blockchain and AI. Prior to joining Universal-Investment, I gained over 20 years’ experience in investment management in several functions. My motto is to envision new innovations instead of building faster horses (just like the famous quote of Henry Ford) which is why I enjoy speaking at international conferences and panels on innovation and digital transformation. Besides, I am a member of several Blockchain consortiums and forums and like to initiate collaborations on Blockchain.

Work aside, in my personal life I like to travel and discover new cultures and countries. Alongside my passion for cooking and wine. To compensate my full calendar, I am trying to do as much sports as possible, frequent morning runs are my favorite. This is rounded up with the fact that I am an early bird (waking up every morning between 4:30am and 5:00am). I use these morning hours for the innovation visioning and creative part of my job.

http://www.fintechforum.de/7-questions-with-daniel-andemeskel-of-universal-investment/

ExpressGroup Raises €25M In Series A Funding

ExpressGroup, a Hamburg, Germany-based fintech company, raised €25m in Series A funding.

The round was led by Insight Partners and Project A Ventures.

The company intends to use the funds to grow the organization internationally and to launch aligned products in more fintech verticals.

Founded in 2019 by Maximilian Lambsdorff, Dennis Konrad, Konstantin Loebner, Mehdi Afridi and Andreas Santoro, ExpressGroup provides fintech products for the working class and middle class, starting with taxes. Its first product, “ExpressSteuer,” uses an AI-powered backend system that allows platform partners such as accounting firms, tax consultants, and lawyers to process tax cases in a few minutes. The system uses machine learning and automation features, which in combination with manual work makes processing income tax returns easier, quicker, and more accurate.

According to a written note, the product was well received by the target audience allowing the company to grow to over €45 million GMV run-rate in under 12 months.

Carmoola raises £27m to drive ‘fintech revolution’ in motor finance

Motoring fintech Carmoola has raised £27m in a seed round, including capital from Jaguar Land Rover’s investment fund.

London-based Carmoola will use the seed round investment to develop its product and launch the initial stages of the business, which provides an automated finance check for purchasing a car.

Its motoring finance app lets users find out how much they can borrow in under a minute and has no broker commissions.

It then creates a virtual card that can be used to purchase a vehicle online or at a dealership – including at UK-founded online car retailer Cazoo.

The Carmoola app also gives customers the option to increase, pause or make single payments without any penalties or charges.

The company is aiming to bring the digital disruption of the UK’s vibrant fintech sector to the world of car finance.

“There’s an incredible fintech revolution going on. And yet, car financing seems to have been forgotten about. It’s like a complete old banger,” said Aidan Rushby, CEO, Carmoola.

“The freedom to go shopping anywhere, knowing what you can spend, without sending off reams of forms and payslips, puts the consumer immediately in control of their car purchase.”

Fidel API Raises $65M in Series B Funding

Fidel API, a London, UK-based provider of a financial infrastructure platform, raised $65m in Series B funding.

The round, which brings Fidel API’s total funding to $88 million since inception, was led by Bain Capital Ventures, with participation from existing investors NYCA Partners, QED Investors and more.

The company intends to use the funds to continue to scale its workforce and product offerings. They plan to more than double its global headcount with a particular emphasis on Engineering, Sales and Product hires. The added capital will also accelerate investments into existing products, in addition to newer product capabilities across identity verification, consent management and payments.

Co-founded by Dev Subrata (CEO) and Andre Elias (CTO), Fidel API enables developers to create programmable experiences that enhance the value of using and accepting payment cards. Its platform provides identity, data, and payments products that allow developers to capture consent permissions and securely connect payment cards to a service or application. With this infrastructure, developers are able to create highly contextualized and event-driven user experiences at the point of purchase. Start-ups through global enterprises, including Google, Royal Bank of Canada and British Airways, are leveraging Fidel API’s tools to power a range of solutions including digital receipts, omni-channel attribution, loyalty and rewards, expense management and personal finance management.

Launched in 2018, the company also has offices in Lisbon, New York, and remote employees globally.

Madrid-based RITMO hits a jackpot with $200 million funding to help e-commerce firms raise capital

The Spanish startup aims to help e-commerce entrepreneurs scale up rapidly and overcome the current supply chain challenges by providing them with capital

Offering cash-strapped startups an alternative to venture capital, venture debt or bank loans, revenue-based financing startups are gaining traction. While Berlin-based fintech re:cap raised $111.5 million in a seed funding round last year and Capchase raised $80 Million in March, Madrid-based RITMO is adding sheen to the race.

After raising €13.8 million funding in a seed round in July last year, RITMO is back with a bang. The fintech has now closed a $200 million debt funding round led by i80 Group and Avellinia Capital. According to the company, it is one of the largest funding rounds of any e-commerce finance business in Europe and Latin America. This brings the platform’s total funding raised to $225 million in debt and equity funding in its first year of operations. 

The funding will be used to support the company’s rapid growth, ensuring capital is available to fuel the funding of over 2,000 e-commerce clients over the next 18 months in key European and LATAM countries. It will also drive RITMO’s global expansion strategy and plans to launch in new markets through agreements with key players in the payments and e-commerce sectors.

https://tech.eu/2022/04/08/madrid-based-ritmo-hits-a-jackpot-with-200-million-funding/

Advent buys MANGOPAY, doles out €75 million to fuel expansion beyond Europe

The French startup enables clients to accept consumer payments, onboard sellers, and route funds to them on a global scale

Paris-based provider of payment solutions to e-commerce sites, MANGOPAY has been acquired by US-based private equity investor Advent. The change of hands will see Advent injecting €75 million of primary capital. This investment is expected to accelerate the company’s growth. MANGOPAY will focus on international, vertical and product expansion.

The platform had earlier been acquired by French banking group Crédit Mutuel Arkéa, which will continue to hold a minority stake in MANGOPAY.

Founded in 2013, the French startup offers a payment solution dedicated to marketplaces and platforms. Its technology enables clients to accept consumer payments, onboard sellers, and route funds to them on a global scale. The e-wallet environment provides flexibility allowing for split payments, use of escrow accounts and closed-loop payments.

MANGOPAY has already developed a set of dedicated value-added services to address the needs of the rapidly growing B2B marketplace segment. Throwing light on how the acquisition will fuel the creation of a global category leader in the payment industry, Romain Mazeries, CEO, MANGOPAY said: “The new investment alongside their deep payment expertise and network will help us significantly accelerate our development. Tomorrow, global exchanges, innovative business models and new consumer habits will bring more complexity and intermediaries to the payments landscape. We are well-positioned to tackle these challenges.”

https://tech.eu/2022/04/06/advent-buys-mangopay-doles-out-eur75-million-to-fuel-expansion-beyond-europe/

Delta Partners launches €70m fund to back 30 Irish tech start-ups

The VC plans to invest in 30 companies over the next few years, with Bank of Ireland and Enterprise Ireland as the fund’s cornerstone investors.

Dublin-based venture capital firm Delta Partners is launching a new fund with a target close of €70m to back early-stage technology businesses in Ireland.

The Delta team plans to invest in 30 of Ireland’s most innovative and exciting start-ups over the next three to four years, with a focus on seed-stage investment – where it will be the first institutional investor – and the Series A stage where companies require funds for scaling.

The fund has reached a first close with Bank of Ireland and Enterprise Ireland as cornerstone investors, supported by Fexco and several family offices. Delta plans to add new investors to the fund over the next year, to reach the target amount of €70m.

Commenting on the new fund, Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, TD, said: “We are constantly looking at ways we can back Irish businesses, especially at an early stage when raising finance is often the most difficult.

“This fund will be a €70m pot of money, supported by the Government through Enterprise Ireland, for seed and early-stage technology businesses working on ideas that will create the jobs of the future.”

Delta is also expanding its team with two new partners. Amy Neale is joining from Mastercard, where she was a senior VP leading innovation teams focused on fintech across the globe. Also joining is Richard Barnwell, the founder of Digit Games, which was an investee of Delta Partners before being acquired by Scopely.

Andbank launches €60M fintech fund

Andbank has launched its Actyus Fintech I fund, a €60 million fintech-focused VC fund that will target startups in Latin America, Europe and the US. Andbank Group will provide €6 million in capital; the venture partners of Actyus will invest €2 million.

https://pitchbook.com/newsletter/andbank-launches-60m-fintech-fund

Meet us at:

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftfFN FinTech 40 https://www.fnlondon.com

Q&As with Eight Roads and Elevator Ventures; European FinTech deals this week include Lemon Markets, Yonder, Budget Insight and Money Box

European FinTech deals this week include Lemon Markets, Yonder, Budget Insight and Money Box

We feature Q&As with Virginia Bassano of Eight Roads and Maximilian Schausberger of Elevator Ventures

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Virginia Bassano of Eight Roads

1. Please tell us a bit about yourself, both at work and leisure.

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.

http://www.fintechforum.de/virginia-bassano-of-eight-roads/

7 Questions 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.

http://www.fintechforum.de/7-questions-with-maximilian-schausberger-of-elevator-ventures/

15 million euros for stock trading: Lakestar and others invest in this Saas startup

Many startup founders dream of a million-euro check in the seed financing round. For Max Linden and Marcel Katenhusen from Münsterland, this dream has come true. Well-known investors have invested 15 million euros in their fintech Lemon Markets. The round is led by Klaus Hommels’ VC company Lakestar and the US investor Lightspeed.

Existing investors such as the Swedish fintech investor Creandum or the Berlin early-stage investor System One went along with the round. Prominent business angels also invested, including Taxfix founders Lino Teuteberg and Mathis Büchi or Tekin Has, founders of the car startup Car on Sale and other scene heads.

The founding duo of Lemon Markets has built software designed to make stock trading more efficient and straightforward. The infrastructure of some financial service providers that trade in securities is outdated, linden says in an interview with Gründerszene. “Often there is a lot of manual work behind it.” Companies should save this work with the help of the software, says Linden.

Yonder Raises £20M in Seed Funding

Yonder, a London, UK-based new credit card startup founded by ClearScore alumni, raised £20M in seed funding.

The round was co-led by Northzone and LocalGlobe, with Seedcamp participating alongside a host of angels, including Sharmadean Reid, Marshmallow founders Oliver and Alex Kent-Braham, and Rio Ferdinand.

The company intends to use the funds to grow the team and build their selection of rewards and features.

Co-founded by Theso Jivajirajah, Harry Jell, and CEO Tim Chong, Yonder offers a credit card and rewards program that will provide members with access to exclusive drinking, dining and leisure experiences with partners including The Gladwin Brothers and Kricket restaurants, plus the ability to spend abroad with zero FX fees.

Yonder secured FCA authorisation in just nine months.

From today, Yonder will open its waitlist to customers in London, who can apply to join its Founding Members’ program for early access to the credit card.

Budget Insight Raises $35M in Funding

Budget Insight, a Paris, France-based aggregator of banking and financial data and a pioneer of Open Finance in Europe, raised $35m (€31m) in funding.

PSG Equity made the investment and will be a shareholder alongside the management team and Crédit Mutuel Arkéa.

The transaction is subject to the authorization of France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR).

The company plans to use the funds to expand operations hiring 50 people this year, to grow its tech, product and sales teams.

Founded in 2012 by Romain Bignon, and led by CEO Bertrand Jeannet, Budget Insight is an Open Finance company that provides tech solutions for an ecosystem of more than 200 businesses and institutions, including some of the largest French banks, insurers, and asset managers, along with several other leading names in fintech.

The Budget Insight API enables clients (banks, fintech firms, lenders, asset managers and software companies) and their end users to aggregate financial data and documents, and initiate payments. Thanks to its technologies, Budget Insight provides clients solutions that cover a wide array of services ranging from asset management and credit to corporate cash management, loyalty and payments.

https://www.finsmes.com/2022/04/budget-insight-raises-35m-in-funding.html

Moneybox Raises £35M in Series D Funding

Moneybox, a London, UK-based digital wealth manager, raised £35M in Series D funding.

The round, which brings the total amount of funds raised to date, to £95.1m, was led by Fidelity International Strategic Ventures, with participation from Polar Capital.

The company intends to use the funds to growth its customer base, introduce financial planning services and launch an enhanced investing proposition focused on long-term wealth generation. 

Launched in 2016 by co-founders Ben Stanway and Charlie Mortimer, Moneybox provides a range of products and services across saving, investing, home-buying, and retirement, all within an app, supported by technology and customer support. The company supports a community of more than 800k customers with more than £2.9bn in assets under administration. It has a team of c.300 people including new entries as Laurel Powers-Freeling as Chair of the Board, Karen Kerrigan, formerly COO at Seedr, Cecilia Mourain, MD Moneybox Home-buying and Caroline Murphree, formerly Europe CEO at Wealthsimple, who will join next month.

Buk Acquires Payflow, a Salary on Demand Fintech from Spain

Buk, a Chilean human resources management platform, announced a few days ago the purchase of the Spanish fintech Payflow. It is not the first acquisition that Buk has carried out: in November 2021 it bought three other companies, including Boost and Ninja Excel.

However, Payflow is the first purchase that doesn’t match Buk’s human resources focus. As a company that offers an on-demand salary advance, Payflow brings Buk into the fintech world.

Buk is in an accelerated process of expansion. At the end of last year, it raised a US$50 million round, bringing it to a valuation of US$417 million. Buk is the fourth most valuable startup in Chile after Cornershop (prior to its acquisition by Uber), NotCo and Betterfly.

Buk is a cloud-based platform that allows companies to manage their human resources “end-to-end”; that is, from payroll to professional development, through performance evaluation tools, recruitment modules and attendance monitoring.

London Technology Club launches £30m fund for fintech and AI startups

London Technology Club (LTC) has launched a fund that aims to raise £30m to invest in promising fintech, AI and mobility startups.

This will be the third investment fund from the London Technology Club in the last three years and aims to inject its £30m into 20 to 25 investments over the next year.

The London-based investment company will be prioritising British, US, European and MENA-based startups.

Konstantin Sidorov, founder, chief executive and general partner at LTC, said: “The technology revolution of the 21st century has positively transformed the way we do business, shop, travel and receive healthcare, but for this rate of innovation to continue we must ensure that tech enterprises are backed with the growth capital they require.”

He added: “Our third fund will channel investment into the leading tech companies of tomorrow to enable them to reach their potential.

“The growth will generate long-term returns to investors, employment opportunities for the next generation, and the benefits of innovation to consumers, businesses and the community.”

Meet us at:

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Banxware and IDA Ireland; European FinTech deals this week include Moonfare and ArK Kapital

European FinTech deals this week include Moonfare and ArK Kapital

We feature Q&As with Miriam Wohlfarth of Banxware and Daragh Hanratty of IDA Ireland

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

7 Questions – Interview video with Miriam Wohlfarth of Banxware

Banxware’s Embedded Financial Service platform bridges the gap between traditional banks and digital platforms, marketplaces or payment providers. Interviewed by FinTech Forum Co Founder Frank Schwab.

http://www.fintechforum.de/7-questions-interview-video-with-miriam-wohlfarth-of-banxware/

7 Questions with Daragh Hanratty of IDA Ireland

1. Please tell us a bit about yourself, both at work and leisure.

I am VP for financial Services with IDA Ireland, the state agency responsible for FDI into Ireland. I am based in Frankfurt, have a keen interest in fitness and travel. During lockdown I took up running. I am currently working to improve my times for 5km and 10km park runs

http://www.fintechforum.de/7-questions-with-daragh-hanratty-of-ida-ireland/

Meet Moonfare, the German fintech which raised $35 million to lower entry barrier for private investors

With the democratisation of private markets and stock market volatility, high net worth individuals, retail investors and their advisors are looking for alternative investments to benefit from high returns. However, retail access to private equity funds for individuals remain low. Addressing the gap, German fintech company Moonfare has raised a $35 million funding from London-based private equity firm Vitruvian Partners, which has earlier invested in Just Eat , Farfetch, Transferwise and Trustpilot.

The funding will come in handy as the startup is gearing up to fuel its global expansion. The company entered the U.S. market this January after it raised a massive $125 million funding in November last year.

Equipped with fast and easy-to-use digital platform, the startup offers retail investors access to select, top-tier private market funds and venture capital funds that were previously only available for institutions.

https://tech.eu/2022/03/29/meet-moonfare-the-german-fintech-which-raised-35-million-to-lower-entry-barrier-for-private-investors

Stockholm-based ArK Kapital raises €165 million to help startups grow faster and smarter

With the aim to fuel startup growth in a way that is faster and smarter, Swedish fintech company ArK Kapital has today announced it has secured a massive €165 million in seed funding. The funding was led by Local Globe, with participation from Creandum and angel investors including Supercell CEO Ilkka Paananen, iZettle founder Jacob de Geer, and EQT Ventures founding partner Hjalmar Winbladh.

Not only is this funding an impressive boost for the startup, which was only launched in November 2021, but also represents a big lift for the startup ecosystem as a whole, given the firm’s business proposition. 

Ark Kapital fuses banking and artificial intelligence, operating as a data-driven precision finance company that enables technology companies to grow faster and smarter through long-term loans – maintaining control for founders and reducing risk for investors.

CEO and co-founder Oliver Hildebrandt, explained: “Any founder will tell you how difficult fundraising can be: retelling your story and hoping to convince the other side really adds up and results in precious time spent away from a business. We believe that entrepreneurs should retain more ownership of their companies and more transparency is needed throughout the fundraising process. After all, no matter how small, any investor equates to a long-term relationship. This is where the power of an AI-driven approach becomes clear: companies can benefit from tailored financing options based on their potential, backed up by data. As an entrepreneur-first company, we want to offer the best network for founders”.

Eight Roads Launches US$350M China Focused Technology Fund

Eight Roads, a global venture capital firm backed by Fidelity, launched its latest dedicated technology fund for China.

Eight Roads China Technology Fund V, has US$350m of capital to deepen the firm’s focus on core technology areas accompanied by a deep thematic investment approach. 

Since its first investment in China in the 1990s, Eight Roads has evolved with the development of the technology industry in the country and remains committed to supporting local entrepreneurs to develop the next generation of global technology companies with its deep domain expertise and global network. 

Led by Jarlon Tsang, Managing Partner and Head of Eight Roads Ventures China, and Ted Chua, Senior Partner, Eight Roads Ventures China has backed over 130 companies in the country’s healthcare and technology sectors such as Alibaba, Adagene, Asia Info, BangEr, Eyebright, FenBeiTong, Innovent, Innovusion, Kyligence, Medbanks, MediTrust, PingPong, Pony.ai, WuXi Apptec, etc. 

Globally, the Eight Roads platform has backed more than 300 companies including AppsFlyer, Cazoo, Icertis, Made.com, Neo4j, Paidy, Shadowfax, and Spendesk, to name a few. The firm is managing over $8bn of assets across offices in China, India, Japan, Europe and the US.

Berlin-based AlphaQ Venture Capital launches $1 billion ‘fund of funds’

Berlin-based AlphaQ Venture Capital (AQVC) has launched a venture capital fund of funds to strengthen the VC ecosystem by backing top-performing venture capital funds worldwide. Dubbed the ‘VC for VCs’, AQVC will invest in top performing venture capital funds globally.

The initial target fund volume is €500 million, which will be mainly invested in Europe, with exposure to the startup nation Israel and the homeland of venture capital, the U.S.  The capital will be allocated to 50-60 funds which in turn would finance more than 1,200 early and growth-stage startups.

AQVC is screening over 2,000 VC funds per year for investment and has secured allocations or already invested in 50 top-tier VC funds like Northzone, Partech, Speedinvest, Headline, Nucleus Capital, White Star Capital and many others.

https://tech.eu/2022/03/28/berlin-based-alphaq-venture-capital-launches-1-billion-fund/

FTV Capital Raises Seventh Growth Equity Fund, at $2.3 Billion

FTV Capital, a growth equity investment firm, closed its seventh vehicle, FTV VII, at $2.3 billion.

The fund saw substantial renewed and increased commitments from existing investors, with nearly 100 percent of limited partners in its previous fund committing to FTV VII, as well as commitments from new limited partners. These investors are diversified by size, type and geography across North America, Europe, Asia-Pacific and the Middle East.

The firm will continue its 24-year track record of investing in innovative, high-growth companies across the enterprise technology, financial services and payments landscapes. This new fund provides FTV flexibility to make control and significant minority equity investments, often as the first institutional investor, generally ranging from $30 to $200 million that align with the objectives of company management teams to accelerate growth and expansion.

Meet us at:

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Billender and SeedX Liechtenstein; European FinTech deals this week include in3, Insurely, Encompass, Xempus, Lunar, +Simple, ClearBank and Lendable

European FinTech deals this week include in3, Insurely, Encompass, Xempus, Lunar, +Simple, ClearBank and Lendable

We feature Q&As with Harald Axelius of Billender and Cynthia Nadal of SeedX Liechtenstein

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

7 Questions with Harald Axelius of Billender 

1. Please tell us a bit about yourself, both at work and leisure.

Billender is the first buy now-pay later solution for paying bills. You simply snap a pic, you can pay any bill in seconds with a variety of flexible payment options. Billender simplifies payment of bills while giving the user a better overview of their personal finance. With services like Klarna, Affirm, Afterpay etc, consumers today are used to having access to all types of payment options, including flexible credits any time they want to purchase something. Billender applies the same model for paying bills. Before I started Billender, I was involved as an angel investor, chairman of the board and many other different roles at Savelend, Sweden’s largest peer-to-peer platform. I have a Master of Laws (LLM) but always worked in tech. I currently reside in Stockholm, Sweden and Marbella, Spain with my girlfriend Jenny. When I’m not working I enjoy taking 20 minute meditation naps with noise cancellation earphones or watching Youtube videos about the construction of different “mega projects” around the world.

http://www.fintechforum.de/7-questions-with-harald-axelius-of-billender/

7 Questions with Cynthia Nadal of SeedX Liechtenstein

1. Please tell us a bit about yourself, both at work and leisure.

My name is Cynthia, I am a Partner at Seed X Liechtenstein. I am an operator turned investor and I have previously worked with different accelerators including Techstars, King’s College and Founders Factory in London. Prior to being an investor I have worked for 11+ years at the fintech unicorn Markit (Now IHS markit, being bought by S&P). I learned there everything I know about great product development, corporate innovation and the hurdles of fast growth (IPO on the NASDAQ in 2014 at $5bn valuation, merger with IHS in 2016, now worth more than $40bn).

Work-wise I like connecting the dots and people, understanding the big problems needing solving and who we can learn from. Having the right network also helps to support founders in their growth.

Some of my spare time is also spent on tech boards that I sit on, and supporting female entrepreneurs across Europe.

http://www.fintechforum.de/7-questions-with-cynthia-nadal-of-seedx/

Dutch BNPL Fintech in3 Secures $11.1M, Enters Deal with Payments Firm Worldline

Dutch Buy Now, Pay Later (BNPL) Fintech in3 has secured $11.1 million in capital and entered a deal with payments company Worldline in order to bring its products and services to more merchants.

In3 was launched back in 2018 by a professional team that had reportedly been a part of the early BNPL trend in the 2010s. It enables clients to make payments for products over three manageable installments within 60 days with 0% interest and without requiring any credit registration.

The company’s management noted that revenue has surged 300% YoY since the firm launched operations, with partner merchants like Kwik Fit, EP, La Souris, Matt sleeps and Dekbed-Discounter all signed up.

Via the collaboration with Worldline, in3 will offer a tech stack that will enable online and offline merchants, who are part of the Worldline network, to provide BNPL services.

And the $11.1 capital injection from Finch Capital will reportedly be used to build out the tech stack and engage in key hiring across the business.

https://www.crowdfundinsider.com/2022/03/188230-dutch-bnpl-fintech-in3-secures-11-1m-enters-deal-with-payments-firm-worldline/

Swedish fintech Insurely claims €19M

Insurely, a Stockholm-based insurtech startup, has raised a €19 million Series A led by Insight Partners. Founded in 2018, the company offers a platform for accessing data on the insurance market.

Developer of an insurance tracking platform built to keep track of insurance policies. The company’s platform retrieves all existing insurances automatically and keeps track of the covers provided and payments made while also showing and comparing other available partner insurances, enabling insurance companies to get more customers and be more transparent with them.

https://pitchbook.com/newsletter/swedish-fintech-insurely-claims-19m

Encompass Raises $33M in Funding

Encompass, a London, UK-based provider of intelligently automated Know Your Customer (KYC) solutions, raised $33M in funding.

The round was led by Perennial Partners, with participation from Serendipity Capital, Seven Seat Capital, Microequities Asset Management, Alan McIntyre, Tim Frost, and Ray Scott.

The company intends to use the funds to accelerate its growth globally, which has included office openings and extensive recruitment in New York and Amsterdam, and ongoing product innovation and development, undertaken from three main engineering centers in Sydney, Belgrade, and Glasgow.

Launched in 2012 by Roger Carson, Encompass transforms regulatory compliance and customer onboarding with Know Your Customer (KYC) automation. As a global leader in automated KYC due diligence worldwide, the company serves global banks and financial institutions to streamline their KYC process and comply with regulations and requirements. Encompass serves customers across the globe with offices in Amsterdam, Belgrade, Glasgow, London, New York, Singapore and Sydney.

Xempus digitizes your pension – and gets 63 million in return

The insurtech Xempus has completed its Series D. In the financing round, the Munich-based company received fresh capital in the amount of the equivalent of 63 million euros (70 million dollars). The majority of this comes from Goldman Sachs Asset Management – the US investment bank has often invested in German tech companies, including the fintech Elinvar, the IT startup Leanix or the savings portal Raisin.

In addition to the lead investor, the existing shareholders, led by HPE Growth and Cinco Capital, have participated “substantially” in the round, according to the company. The new funds are intended to promote internationalisation and the expansion of product categories.

Xempus builds digital products for company pensions. With the so-called “Xempus Manager”, the Munich-based Insurtech is aimed at employers who can digitally offer their employees the pension scheme for self-closure. This should save effort, time and costs, according to Xempus.

With “My Xempus”, employees can adjust their pension provision and get an overview of the current status of their retirement provision from retirement. In addition to the statutory pension, the dashboard shows, for example, the monthly supplementary pension from the pension plan.

Scandinavian Fintech Lunar collects 70 million euros

Neobank is building a complete range of financial services. In addition: Xpeng launches electric sedan in Europe and trade in NFTs increased by 21,000 percent in 2021.
Lunar, a Scandinavian digital banking platform, has announced a €70 million Series D funding round. According to “Techcrunch”, the cloud-based fintech based in Copenhagen thus achieves a valuation of two billion US dollars. Lunar is also launching a crypto trading platform and B2B payments for its small and medium-sized business customers. The latest investment is an expansion of the Series D, which had a first deal of 210 million euros in July last year. The round – led by Heartland with participation from Kinnevik, Tencent and IDC Ventures – will now close with €280 million.

In the last year, Lunar’s customer base has grown by more than 90 percent. With the fresh money, the company wants to expand further. Lunar is building a complete financial services offering: in April 2021, it acquired Swedish consumer credit and peer-to-peer savings platform Lendify to strengthen its position in Scandinavia.

https://docs.google.com/document/d/1vClqiylJ8hBCwlKgwgbY8nuUEGP2BN7Kqd9KK1LF0bI/edit#

French startup +Simple scores €90 million for its insurtech solution

Founded in 2015, +Simple, has scored €90 million and acquired three European companies to grow its insurtech offering. The funding round was led by global investment firm KKR and saw the participation of +Simple’s founders and existing investors, including Eurazeo, Speedinvest and Tikehau Capital. 

The French platform operates as an insurance Robo-Broker for freelancers, small and medium businesses. The tech behind the platform generates tailor-made and competitive insurance packages, based on a simple questionnaire. The firm was founded by Eric Mignot (Chairman), Anthony Jouannau (CEO) and Salah Hamida (Deputy CEO and CTO) with the aim to create a one-stop shop for professional insurance needs. 

Eric Mignot commented: “KKR’s expertise in the insurance sector globally and track record in growth investing makes them ideally placed to support our development. Our ability to raise debt from a player such as Tikehau reflects confidence in our strategy to generate strong growth and profitability.”

UK’s clearing bank now eyes European expansion, swipes off £175 million funding

Next-generation clearing and embedded banking platform in the UK, ClearBank has raised a £175 million equity investment. The round was led by funds advised by Apax Digital, the growth equity arm of private equity advisory firm Apax, and saw the participation of existing investors such as CFFI UK Ventures (Barbados) and PPF Financial Holdings.

The platform created some news in 2017 when it became the first new clearing bank in the UK in 250 years. Now, with the additional capital, it is setting sights on international expansion.

The investment will drive ClearBank’s ambition to power banking services for both financial institutions and non-financial brands, using its single API cloud-native embedded banking platform. It will also drive the company’s global expansion, initially in Europe before moving into North America and Asia Pacific.

Founded by Nick Ogden in 2016, who was also the founder of WorldPay, which was later on acquired by Fidelity, the clearing bank has a portfolio of 13 million accounts and £3 billion held in balances at the Bank of England. The UK banking rails provider serves over 200 financial institutions and fintech customers, including Tide, Coinbase, Chip and Oaknorth Bank.

https://tech.eu/2022/03/21/uks-clearing-bank-now-eyes-european-expansion-swipes-off-ps175-million-funding

Lendable Raises GBP 210M in Funding At Valuation in Excess of GBP 3.5 Billion

Lendable, a London, UK-based AI-powered consumer finance platform, raised GBP210M in funding at a valuation in excess of GBP 3.5 Billion.

The round was led by Ontario Teachers’ Pension Plan Board (Ontario Teachers’), through its Teachers’ Innovation Platform (TIP).

The company intends to use the funds to accelerate international growth and expand operations and development efforts.

Founded in 2014 and led by CEO Martin Kissinger, Lendable is an AI-powered consumer finance platform that connects global institutional investors with borrowers across all major products (loans, credit cards, car finance). The company applies AI and automation to enhance underwriting, and offer customers better rates, transparency and service, while offering institutional investors ranging from global banks to family offices access to the asset class.

JPMorgan to buy Irish fintech firm Global Shares

March 15 (Reuters) – JPMorgan Chase & Co (JPM.N) said on Tuesday it would buy Global Shares, an Irish fintech firm whose software helps businesses manage employee stock plans.
The deal, the terms of which were not disclosed, was expected to close in the second half of this year.
Founded in 2005, Global Shares manages nearly $200 billion in assets and its cloud-based platform is used by more than 600 clients.
The U.S. bank plans to integrate the company into its asset and wealth management business, according to a statement. Global Shares will remain headquartered in Cork, Ireland.

https://www.reuters.com/technology/jpmorgan-buy-irish-fintech-firm-global-shares-2022-03-15/

FT Partners’ Long-Term Client PPRO Acquires Alpha Fintech

PPRO, the provider of virtual payments infrastructure, announced the acquisition of Alpha Fintech, a next-gen payments tech firm. The deal will reportedly “expand PPRO’s offering, strengthen its presence and networks in Asia Pacific (APAC), and allow it to deliver products and services faster to its customers.”

Alpha Fintech’s Cloud-powered platform “allows for the seamless integration of digital payments products and services, from payment processing and merchant management to risk management, fraud prevention, and data analytics.”

The APAC-focused firm has served a key role in “accelerating the growth of banks, fintech enterprises, and payment service providers, including New Zealand’s BNZ and Southeast Asia’s super-app Grab.”

By adding Alpha’s platform to its infrastructure, PPRO is now poised “to offer a plug-and-play orchestration layer that will let its customers integrate products and services faster and at scale.” Clients may look forward to more global payment flows, “the ability to integrate third-party applications, stronger compliance and risk capabilities, and deeper data insights.”

https://www.crowdfundinsider.com/2022/03/188076-ft-partners-long-term-client-ppro-acquires-alpha-fintech/

Visa Closes Acquisition of Tink

Visa (NYSE: V) completed its acquisition of Tink, a Stockholm, Sweden-based open banking platform that enables financial institutions, fintechs and merchants to build financial products and services and move money.

The amount of the deal was 1.8 billion Euros, inclusive of cash and retention incentives.

The transaction was announced in June 2021.

Founded in 2012 in Stockholm and led by Daniel Kjellén, CEO, Tink provides an API that enables its customers to move money, access aggregated financial data, and use smart financial services such as risk insights and account verification. Tink is integrated with more than 3,400 banks and financial institutions, reaching millions of bank customers across Europe. Its 500 employees serve more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries.

With the transaction complete, the combination of Visa and Tink is expected to enable clients to deliver benefits for consumers to control their financial experiences, including managing their money, financial data and financial goals. Businesses large and small will also have access to more customized range of tools to operate digitally and securely, whether initiating payments, reconciling bank statements and accounts or enabling alternative financing.

In the near-term, Tink will operate as a standalone subsidiary of Visa. Kjellén and the existing management team will continue to lead the organization.

Finleap co-founders raise over €100m for new “embedded” fintech VC fund

The fund, called embedded/capital, was founded this year by Ramin Niroumand and Michael Hock, who set up finleap, a Berlin-based fintech business that offers SaaS solutions to enterprises and builds stand-alone fintech companies.

A Berlin-based VC fund focused on the “next generation” of fintech founders has raised over €100m to invest in startups “embedding” financial services in their business models.

The  VC fund, called embedded/capital, was founded this year by Ramin Niroumand and Michael Hock, who set up Finleap, a Berlin-based fintech business that offers SaaS solutions to enterprises and helps build fintech companies.

Embedded/capital’s fund focuses on founders who are “embedding” financial services in their offerings, particularly at pre-seed and seed stages with initial investments of up to €4m.

The fund has raised money from institutional investors, entrepreneurs and founders.

Along with capital support, embedded/capital says it can help fintech founders by drawing on a “strong network” of European financial service providers.

Furthermore, it said it also works with key institutional players, unicorn founders, and global investors to support ventures.

Niroumand said: “We continue doing what we love most: Helping founders in the most critical stages to succeed. 

“The Berlin fintech ecosystem has made incredible progress over the last few years, and it’s exciting that the new generation of fintechs can build on the platforms created. 

https://www.altfi.com/article/8989_vc-fund-raises-over-eur100m-to-invest-in-startups-embedding-financial-services

CommerzVentures Closes €300M Third Fund

CommerzVentures, a Frankfurt, Germany-based specialist fintech investor, closed its third fund, at €300m.

The fund, which saw Commerzbank return as the sole LP, brings their combined total fund size to €550m.

Led by partners Heiko Schwender and Paul Morgenthaler, the vehicle will go towards supporting early and growth-stage companies in the fintech and insurtech sectors, as well as the emerging Climate FinTech space.

The third fund follows on from their first €100m fund, launched in 2014, and their second €150m fund in 2019, as well as investments in 28 companies to date. Continuing their strategy of targeting founder teams with the ambition to solve billion dollar problems, CommerzVentures continue to invest with a global outlook, focusing on Europe, Israel and the USA. 

The launch of Fund III will see the firm grow their headcount by 50%, enabling them to strengthen their position in fintech globally, and establish a foothold in new geographies, notably Africa. This follows CommerzVentures’ recent participation in MFS Africa’s $100m Series C and desire to support founders in the region’s vibrant fintech market.

The firm has already backed unicorns such as Bought By Many, Mambu, eToro and Marqeta and has a strong presence within Climate FinTech, with recent investments including ClimateView and Doconomy. Other notable investments within fintech and insurtech include Afilio, ByMiles, GetSafe and iwoca. Portfolio company Marqeta IPOed on Nasdaq, while Curv and Payworks were acquired by Paypal and Visa, respectively. 

Meet us at:

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Aisot and Fin VC; European FinTech deals this week include HUBUC, Haruko, Ageras group, Weavr, Atom, PayHawk and Scalapay

European FinTech deals this week include HUBUC, Ageras group, Weavr, Atom, PayHawk and Scalapay

We feature Q&As with Stefan Klauser of Aisot and May Wang of Fin VC

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

7 Questions with Stefan Klauser of Aisot

1. Please tell us a bit about yourself, both at work and leisure.

Hi, I am Stefan, Co-Founder & CEO at Aisot Technologies. We are a leading provider of real-time insights for trading and asset management. I always had a passion for both entrepreneurial work and predictive tools. The Oracle of Delphi was by far the coolest thing in Latin class. And my first business I „founded” as a kid, when selling cherries from our garden on our village’s streets. In my free time, I like to be in nature or sing. I have played in rock bands since I was a teenager.

http://www.fintechforum.de/7-questions-with-stefan-klauser-of-asiot/

7 Questions with May Wang of Fin VC

1. Please tell us a bit about yourself, both at work and leisure.

I’m an investor at Fin VC, a B2B Fintech/Insurtech focused global venture capital, based out of San Francisco. Fin VC is a team of FinTech nerds with capital, based in SF/NYC and focus on FinTech SaaS in the US and EU/UK. We deploy out of 3 strategies: Regatta (pre-seed, checks of $100K-$1M), Flagship (Early Stage – Seed->B, checks of $1-10M) and Horizons (Growth – C+, checks of $25-50M+, primary/secondary) and have an operating value playbook focused on global BD, corp dev, capital formation, product/GTM, key talent sourcing, and board leadership.

Personally, I’m an avid traveler and a global citizen who has lived in 4 countries across 3 continents. When not at work, you’ll find me hiking/surfing in the summer and skiing in the winter. I’m also mentoring students from underrepresented communities, and an advisor at a Uganda-based NGO.

http://www.fintechforum.de/7-questions-with-may-wang-of-fin-vc/

Offering any and all brands managed embedded financial services, Y Combinator alum HUBUC raises $10 million

By managing contracts, knowledge, regulatory requirements, integrations, and risk in-house, Barcelona’s HUBUC offers customers the ability to implement embedded finance services and go to market on average in 7-8 weeks.

Barcelona-based embedded financial services startup HUBUC has raised $10 million in a seed round. The new funding will be used to bolster the company’s European footprint, strengthen the compliance team, continue product development and further streamline the customer implementation process.
Traditionally dogged by regulatory restraints that vary from country to country, the process of implementing embedded finance solutions can be complex, time-consuming, and ultimately, costly. And while there’s certainly no shortage of providers on the market today, where HUBUC aims to stand apart from the crowd is through its managed service, and thus, speed of implementation.

https://tech.eu/2022/02/24/offering-any-and-all-brands-managed-embedded-financial-services-y-combinator-alum-hubuc-raises-10-million

Bringing transparency to crypto capital markets fetches $10 million for London-based Haruko

London startup Haruko is building one-stop shop for institutional crypto investors with $10-million seed funding.

The crypto ecosystem shows enormous promise as the breeding ground for game-changing innovation. While institutional capital is increasingly convinced of the opportunity, unfamiliar and unreliable technology remains a major barrier to entry. Bridging this gap with a platform that provides both a sophisticated but easy-to-use API and a convenient dashboard enabling institutional investors to easily interact with crypto markets is London-based Haruko.

The startup bringing an institutional-grade technology layer to connect capital to the blockchains, has now closed a $10 million funding. The seed round was led by Portage Ventures and White Star Capital.

Founded by Adam Carlile, Omer Suleman and Shamyl Malik, the startup powers institutional access to digital assets globally. Its platform enables large institutions to interact with crypto markets both on centralised exchanges (CeFi) and decentralised protocols (DeFi).

https://tech.eu/2022/03/04/bringing-transparency-to-crypto-capital-markets-fetches-10-million-for-haruko/

 

Ageras Group Raises $34M in Funding

The Ageras Group, a Copehagen, Denmark-based small business-focused financial services software and accounting marketplace, closed a €30m ($34m) funding round.

Backers included new investors Centripetal Capital and Saeid Esmaeilzadeh, which joined existing investors Investcorp Technology Partners, Lugard Road Capital and Roosgruppen, which all are participating in the round.

The company intends to use the funds to accelerate the expansion of its marketplace and acquire other fintech software startups.

Founded in 2012 by CEO Rico Andersen and CMO Martin Hegelund, Ageras Group provides small businesses with financial services software and accounting marketplace.

The company began as the online marketplace Ageras.com (matching SMEs with accountants) and has expanded into a 250-person team offering a complete ecosystem of tools and services for SMEs. Today, Ageras Group offers cloud-based accounting software through the products Zervant, Billy and Tellow and payroll software through Salary. In late 2021, the group launched an embedded fintech service providing financing options to its customers directly through its software. Ageras Group’s solutions have been used by more than 1 million small businesses across Europe and the U.S.

Weavr Raises $40M in Series A Funding

Weavr, a London, UK-based fintech provider that enables businesses with Plug-and-Play financial solutions, raised $40M in Series A funding.

The round was led by Tiger Global with participation from QED Investors, Anthemis, Mubadala, Latitude, Headline, Seedcamp, Force Over Mass Capital and UFP Fintech.

The company intends to use the funds to support international expansion plans, beginning with an official U.S. market launch.

Led by CEO Alex Mifsud, Weavr is an open platform for embedded finance for the digital economy.

 

Atom Raises More Than £75M in Equity Funding

Atom bank, a Durham, UK-based app-based bank, raised more than £75m in new equity funding as it continues to grow its profitability and drive to IPO.

The round will be led by BBVA and by Toscafund with participation from co-investors Infinity Investment Partners. The round is now being opened to other existing shareholders. The digital lender has now raised more than £115m in the last 12 months.

Led by Mark Mullen, Chief Executive Officer, Atom launched operations in April 2016, offering Fixed Saver accounts and secured business lending for small and medium-sized enterprises (‘SMEs’), followed by its automated mobile mortgage proposition in December 2016. Atom launched an Instant Saver in September 2020.

With a team of over 400 people, the company delivered its first monthly operating profit during Q2 and has continued to grow its revenues throughout the year while maintaining a tight control on its costs.

Bulgaria now has its first unicorn in Payhawk as the company adds an additional $100 million

In adding another $100 million to an already impressive $115 million Series B round, payments and expense management startup Payhawk has provided Bulgaria with its first card-carrying member of the unicorn club

Payments and expense management firm Payhawk has added $100 million to its Series B round, now standing at $215 million, and in so much, provides the company with a $1 billion valuation and Bulgaria with its first unicorn.

As a testament to the company’s rapidly accelerating velocity, this Series B extension arrives only three months after the company’s initial announcement of $115 million, a round that was announced only 7 months since the closing of a $20 million Series A round.

Preceded only by now publicly listed UiPath, Payhawk’s Series B round is the second-largest ever of its kind for a B2B company in the CEE region, with the new funding fueling the addition of 60 senior software engineers in the Sofia office, alongside planned office openings in Amsterdam and Paris in March, and New York in September. The company reports that it’s well on track to triple the headcount from 100 to more than 300 staff members by the end of this year.

https://tech.eu/2022/03/01/bulgaria-now-has-its-first-unicorn-in-payhawk-as-the-company-adds-an-additional-100-million/

Scalapay Raises $497M in Series B Funding

Scalapay, a Milan, Italy-based payment solution that enables customers to buy now and pay later (BNPL) without interest, raised $497M in Series B funding.

The round, which brought total funding raised to date to over $700M, was led by Tencent and Willoughby Capital, with participation from Tiger Global, Gangwal, Moore Capital, Deimos, and Fasanara Capital.

Founded by Simone Mancini and Johnny Mitrevski in 2019, Scalapay is an innovative payment solution for e-commerce merchants across the globe that allows customers to buy now and pay later, without interest. Their BNPL offerings include three options for customers (Pay in 3, Pay in 4, and Pay Later) in which customers are not required to make any payments upfront, and can instead opt to pay in 3 installments, 4 installments, or entirely after 14 days.

CommerzVentures closes €300 million fund to boost European fintech and insurtech startups

Specialising in fintech companies, Frankfurt-based CommerzVentures has announced the close of their third fund at €300 million. The fund will go towards supporting early and growth-stage companies in the fintech and insurtech space. The freshly emerging climate fintech space will also benefit from the fresh funds – building towards being Europe’s foremost VC in this emerging sector. 

The latest fund, which saw Commerzbank return as the sole LP, brings their combined total fund size to €550 million. 

Launched in 2014, CommerzVentures has successfully invested in 28 companies. Continuing their strategy of targeting exceptional founder teams with the ambition to solve billion-dollar problems, CommerzVentures continues to invest with a global outlook, focusing on Europe, Israel and the USA. 

Catalyst Romania wraps up €50 million fund to invest in early-stage tech firms in South Eastern Europe

Targeting investments in technology companies, Catalyst Romania has announced the closing of its second venture capital fund. On the back of strong demand from institutional and private investors, the original target of €40 million was substantially exceeded and the fund reached its hard cap of €50 million.

The second-generation venture fund in Romania will continue focusing on early-stage technology companies and make investments of €1-3 million to high-potential technology SMEs from Romania and South Eastern Europe.

Since its first closing in November 2020, it has invested in two companies and three more are in the due diligence phase. The first investment was in Seedblink, which is a next generation crowd-investing platform. Its second investment was in Code of Talent, a leading micro-learning solution dedicated to employee training.

https://tech.eu/2022/02/22/catalyst-romania-wraps-up-eur50-million-fund-to-invest-in-early-stage-tech-firms-in-south-eastern-europe

Meet us at:

Finovate Europe 2022, London: 22–23 March 2022

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Aisot and Fin VC; European FinTech deals this week include HUBUC, Ageras group, Weavr, Atom, PayHawk and Scalapay

European FinTech deals this week include HUBUC, Ageras group, Weavr, Atom, PayHawk and Scalapay

We feature Q&As with Stefan Klauser of Aisot and May Wang of Fin VC

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

7 Questions with Stefan Klauser of Aisot

1. Please tell us a bit about yourself, both at work and leisure.

Hi, I am Stefan, Co-Founder & CEO at Aisot Technologies. We are a leading provider of real-time insights for trading and asset management. I always had a passion for both entrepreneurial work and predictive tools. The Oracle of Delphi was by far the coolest thing in Latin class. And my first business I „founded” as a kid, when selling cherries from our garden on our village’s streets. In my free time, I like to be in nature or sing. I have played in rock bands since I was a teenager.

http://www.fintechforum.de/7-questions-with-stefan-klauser-of-asiot/

7 Questions with May Wang of Fin VC

1. Please tell us a bit about yourself, both at work and leisure.

I’m an investor at Fin VC, a B2B Fintech/Insurtech focused global venture capital, based out of San Francisco. Fin VC is a team of FinTech nerds with capital, based in SF/NYC and focus on FinTech SaaS in the US and EU/UK. We deploy out of 3 strategies: Regatta (pre-seed, checks of $100K-$1M), Flagship (Early Stage – Seed->B, checks of $1-10M) and Horizons (Growth – C+, checks of $25-50M+, primary/secondary) and have an operating value playbook focused on global BD, corp dev, capital formation, product/GTM, key talent sourcing, and board leadership.

Personally, I’m an avid traveler and a global citizen who has lived in 4 countries across 3 continents. When not at work, you’ll find me hiking/surfing in the summer and skiing in the winter. I’m also mentoring students from underrepresented communities, and an advisor at a Uganda-based NGO.

http://www.fintechforum.de/7-questions-with-may-wang-of-fin-vc/

Offering any and all brands managed embedded financial services, Y Combinator alum HUBUC raises $10 million

By managing contracts, knowledge, regulatory requirements, integrations, and risk in-house, Barcelona’s HUBUC offers customers the ability to implement embedded finance services and go to market on average in 7-8 weeks.

Barcelona-based embedded financial services startup HUBUC has raised $10 million in a seed round. The new funding will be used to bolster the company’s European footprint, strengthen the compliance team, continue product development and further streamline the customer implementation process.
Traditionally dogged by regulatory restraints that vary from country to country, the process of implementing embedded finance solutions can be complex, time-consuming, and ultimately, costly. And while there’s certainly no shortage of providers on the market today, where HUBUC aims to stand apart from the crowd is through its managed service, and thus, speed of implementation.

https://tech.eu/2022/02/24/offering-any-and-all-brands-managed-embedded-financial-services-y-combinator-alum-hubuc-raises-10-million

Bringing transparency to crypto capital markets fetches $10 million for London-based Haruko

London startup Haruko is building one-stop shop for institutional crypto investors with $10-million seed funding.

The crypto ecosystem shows enormous promise as the breeding ground for game-changing innovation. While institutional capital is increasingly convinced of the opportunity, unfamiliar and unreliable technology remains a major barrier to entry. Bridging this gap with a platform that provides both a sophisticated but easy-to-use API and a convenient dashboard enabling institutional investors to easily interact with crypto markets is London-based Haruko.

The startup bringing an institutional-grade technology layer to connect capital to the blockchains, has now closed a $10 million funding. The seed round was led by Portage Ventures and White Star Capital.

Founded by Adam Carlile, Omer Suleman and Shamyl Malik, the startup powers institutional access to digital assets globally. Its platform enables large institutions to interact with crypto markets both on centralised exchanges (CeFi) and decentralised protocols (DeFi).

https://tech.eu/2022/03/04/bringing-transparency-to-crypto-capital-markets-fetches-10-million-for-haruko/

 

Ageras Group Raises $34M in Funding

The Ageras Group, a Copehagen, Denmark-based small business-focused financial services software and accounting marketplace, closed a €30m ($34m) funding round.

Backers included new investors Centripetal Capital and Saeid Esmaeilzadeh, which joined existing investors Investcorp Technology Partners, Lugard Road Capital and Roosgruppen, which all are participating in the round.

The company intends to use the funds to accelerate the expansion of its marketplace and acquire other fintech software startups.

Founded in 2012 by CEO Rico Andersen and CMO Martin Hegelund, Ageras Group provides small businesses with financial services software and accounting marketplace.

The company began as the online marketplace Ageras.com (matching SMEs with accountants) and has expanded into a 250-person team offering a complete ecosystem of tools and services for SMEs. Today, Ageras Group offers cloud-based accounting software through the products Zervant, Billy and Tellow and payroll software through Salary. In late 2021, the group launched an embedded fintech service providing financing options to its customers directly through its software. Ageras Group’s solutions have been used by more than 1 million small businesses across Europe and the U.S.

Weavr Raises $40M in Series A Funding

Weavr, a London, UK-based fintech provider that enables businesses with Plug-and-Play financial solutions, raised $40M in Series A funding.

The round was led by Tiger Global with participation from QED Investors, Anthemis, Mubadala, Latitude, Headline, Seedcamp, Force Over Mass Capital and UFP Fintech.

The company intends to use the funds to support international expansion plans, beginning with an official U.S. market launch.

Led by CEO Alex Mifsud, Weavr is an open platform for embedded finance for the digital economy.

 

Atom Raises More Than £75M in Equity Funding

Atom bank, a Durham, UK-based app-based bank, raised more than £75m in new equity funding as it continues to grow its profitability and drive to IPO.

The round will be led by BBVA and by Toscafund with participation from co-investors Infinity Investment Partners. The round is now being opened to other existing shareholders. The digital lender has now raised more than £115m in the last 12 months.

Led by Mark Mullen, Chief Executive Officer, Atom launched operations in April 2016, offering Fixed Saver accounts and secured business lending for small and medium-sized enterprises (‘SMEs’), followed by its automated mobile mortgage proposition in December 2016. Atom launched an Instant Saver in September 2020.

With a team of over 400 people, the company delivered its first monthly operating profit during Q2 and has continued to grow its revenues throughout the year while maintaining a tight control on its costs.

Bulgaria now has its first unicorn in Payhawk as the company adds an additional $100 million

In adding another $100 million to an already impressive $115 million Series B round, payments and expense management startup Payhawk has provided Bulgaria with its first card-carrying member of the unicorn club

Payments and expense management firm Payhawk has added $100 million to its Series B round, now standing at $215 million, and in so much, provides the company with a $1 billion valuation and Bulgaria with its first unicorn.

As a testament to the company’s rapidly accelerating velocity, this Series B extension arrives only three months after the company’s initial announcement of $115 million, a round that was announced only 7 months since the closing of a $20 million Series A round.

Preceded only by now publicly listed UiPath, Payhawk’s Series B round is the second-largest ever of its kind for a B2B company in the CEE region, with the new funding fueling the addition of 60 senior software engineers in the Sofia office, alongside planned office openings in Amsterdam and Paris in March, and New York in September. The company reports that it’s well on track to triple the headcount from 100 to more than 300 staff members by the end of this year.

https://tech.eu/2022/03/01/bulgaria-now-has-its-first-unicorn-in-payhawk-as-the-company-adds-an-additional-100-million/

Scalapay Raises $497M in Series B Funding

Scalapay, a Milan, Italy-based payment solution that enables customers to buy now and pay later (BNPL) without interest, raised $497M in Series B funding.

The round, which brought total funding raised to date to over $700M, was led by Tencent and Willoughby Capital, with participation from Tiger Global, Gangwal, Moore Capital, Deimos, and Fasanara Capital.

Founded by Simone Mancini and Johnny Mitrevski in 2019, Scalapay is an innovative payment solution for e-commerce merchants across the globe that allows customers to buy now and pay later, without interest. Their BNPL offerings include three options for customers (Pay in 3, Pay in 4, and Pay Later) in which customers are not required to make any payments upfront, and can instead opt to pay in 3 installments, 4 installments, or entirely after 14 days.

CommerzVentures closes €300 million fund to boost European fintech and insurtech startups

Specialising in fintech companies, Frankfurt-based CommerzVentures has announced the close of their third fund at €300 million. The fund will go towards supporting early and growth-stage companies in the fintech and insurtech space. The freshly emerging climate fintech space will also benefit from the fresh funds – building towards being Europe’s foremost VC in this emerging sector. 

The latest fund, which saw Commerzbank return as the sole LP, brings their combined total fund size to €550 million. 

Launched in 2014, CommerzVentures has successfully invested in 28 companies. Continuing their strategy of targeting exceptional founder teams with the ambition to solve billion-dollar problems, CommerzVentures continues to invest with a global outlook, focusing on Europe, Israel and the USA. 

Catalyst Romania wraps up €50 million fund to invest in early-stage tech firms in South Eastern Europe

Targeting investments in technology companies, Catalyst Romania has announced the closing of its second venture capital fund. On the back of strong demand from institutional and private investors, the original target of €40 million was substantially exceeded and the fund reached its hard cap of €50 million.

The second-generation venture fund in Romania will continue focusing on early-stage technology companies and make investments of €1-3 million to high-potential technology SMEs from Romania and South Eastern Europe.

Since its first closing in November 2020, it has invested in two companies and three more are in the due diligence phase. The first investment was in Seedblink, which is a next generation crowd-investing platform. Its second investment was in Code of Talent, a leading micro-learning solution dedicated to employee training.

https://tech.eu/2022/02/22/catalyst-romania-wraps-up-eur50-million-fund-to-invest-in-early-stage-tech-firms-in-south-eastern-europe

Meet us at:

Finovate Europe 2022, London: 22–23 March 2022

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Eight Roads and FintechOS; European FinTech deals this week include Floodflash, Insify, Banked, Rewire, Vitesse and Seyna

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.

http://www.fintechforum.de/virginia-bassano-of-eight-roads/

7 Questions with Blidarus of FintechOS

1. Please tell us a bit about yourself, both at work and leisure.

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.

http://www.fintechforum.de/teo-blidarus-of-fintechos/

FloodFlash Raises $15M in Series A Funding

FloodFlash, a London, UK-based parametric insurance technology company that pays catastrophic flood claims within 48 hours, raised $15m in Series A funding.

The round was led by Buoyant Ventures with participation from Munich Re Ventures, Sony Financial Ventures/Global Brain, MS&AD Ventures and PropTech1, Pentech, Local Globe and Insurtech Gateway.

The company intends to use the funds to accelerate international expansion with target markets including the US, Germany, Australia, and Japan.

Led by CEO Adam Rimmer, FloodFlash is an insurance technology company that combines computer models, cloud software and internet-of-things sensors into flood cover. Customers choose a depth and payout amount for their policy. When flooding reaches the depth selected, the insurance pays out, typically within 48 hours.

FloodFlash is a registered coverholder at Lloyd’s of London and is authorised and regulated by the Financial Conduct Authority.

Amsterdam-based Insify raises €15M to simplify insurance process for European entrepreneurs and SMEs

Insify, an Amsterdam-based digital insurance platform designed for Europe’s entrepreneurs and SMEs, announced on Thursday that it has raised €15M in a Series A round of funding led by global venture firm Accel. 

Other investors, including Visionaries Club, Frontline Ventures, Fly Ventures, and angel investors from European fintech companies, also participated. 

The funding will primarily be used to scale operations, workforce and expand into new markets in Europe, as well as enhance its underwriting and data analytics capabilities.

Koen Thijssen, CEO and founder of Insify, says, “As an entrepreneur myself, I know firsthand that running a small business can be difficult at the best of times. The last thing business owners need is to be overextending themselves with convoluted insurance policies and dealing with excessive premiums. Insurance should be something that supports entrepreneurs, not overwhelms them. We designed our digital insurance platform with the entrepreneur and SMEs at its core.”

Banked adds $20 million to the bank via Bank of America, calculates US expansion plans

Bypassing the exchange of personal details and using biometric authorisations, London fintech Banked has created a Pay by Bank infrastructure that virtually eliminates fraud. Now raising $20 million in a Series A round, the company aims to take on the US.

London’s Banked has raised $20 million in a Series A funding round. The fintech provides an account-to-account payment software platform that virtually eliminates fraud as there is no need to create an account, zero financial details are shared, payment authorisations are biometric. The investment from Bank of America is the telltale sign that the startup is now eying a trans-Atlantic expansion. To date, Banked has raised approximately $30 million.

Although the idea of Banked dates back to 2017, the startup was officially unveiled in November of 2018 and since this time steadily been building a fintech infrastructure that operates within tier 1 banks, payment providers, gateways, and tech platforms allowing them to offer a highly secure Pay by Bank option to their merchants.

https://www.crowdfundinsider.com/2022/02/186942-uk-fintech-vitesse-acquires-26m-via-series-b-to-drive-digitization-of-insurance-sector/

Amsterdam-based startup wires $25 million to make insurance accessible for migrants

Tel Aviv and Amsterdam-based financial services platform Rewire is attempting to make the transactions of migrant workers easier and has raised $25 million funding for doing so

Migrant workers face unique hurdles when transferring money back to their home countries, often navigating financial bureaucracies in languages and cultures they do not understand and dealing with complicated financial obligations in multiple countries. These barriers extend to insurance, as well, where migrants face limited access to coverage, unclear policies and even discrimination.

Tel Aviv and Amsterdam-based financial services platform Rewire is attempting to change this and has raised $25 million funding. The round saw participation from Israeli insurance giant Migdal, Standard Bank of South Africa, BNP Paribas, Opera Tech Ventures, Viola Fintech, Moneta Capital Partners, Renegade Partners, OurCrowd, Yehuda Zisapel, former Yahoo Co-Founder and CEO Jerry Yang and additional angel investors.

https://tech.eu/2022/02/08/amsterdam-based-startup-wires-25-million-to-make-insurance-accessible-for-migrants/

UK Fintech Vitesse Acquires $26M via Series B to Drive Digitization of Insurance Sector

Vitesse PSP, the payment, liquidity and treasury management platform, recently announced that it has secured $26 million in Series B funding led by Prime Ventures.

The Series B investment round also includes contributions from Octopus Ventures, which led the 2020 Series A round and are one of Europe’s most active VC investors as well as Hannover Digital Investments, the corporate VC fund of HDI Group, one of Europe’s largest insurance firms. Additional participants include existing angel investors and industry giants like Ron Kalifa, OBE, former Worldpay CEO and author of the Kalifa Review and Shane Happach, CEO of Mollie, the Dutch payments unicorn.

Vitesse’s tech serves as the backbone to the financial infrastructure that “runs throughout the insurance value chain, as well as for many corporates who use Vitesse for faster, more cost-effective payments.” Its liquidity and treasury management platform is “built on top of a globally distributed payments network providing control and transparency as well as improved capital efficiency and additional investment returns for its customers.”

https://www.crowdfundinsider.com/2022/02/186942-uk-fintech-vitesse-acquires-26m-via-series-b-to-drive-digitization-of-insurance-sector/

Seyna Raises €33M in Series A Funding

Seyna, a Paris, France-based insurtech company, raised €33m in Series A funding.

Pending approval by the French supervisor, this round was jointly led by Elaia Partners and White Star Capital. Existing investors (Global Founders Capital, Allianz and la Financière St James) all participated in the round. This capital brings Seyna’s total funding to €47m.

The company intends to use the funds to scale its service to all brokers and merchants in Europe.

Led by Stephen Leguillon, CEO, Seyna Seyna provides an insurance creation, management and distribution platform for brokers to protect their customers. Since obtaining its licence to operate as an insurance company in December 2019, rhe company now enables over 70 insurance brokerage and retailers, and protects over 200 000 customers.

In 2022, Seyna plans to increase the software feature set offered to brokers, expand into events and health insurance, and start hosting insurance products from other carriers.

Specialist VC launches €50 million fund to back startups based in the Baltics and beyond

Specialist VC (formerly known as United Angels VC) has just announced the first close of a new €50 million fund at €42 million. The main focus of the fund is on pre-seed and seed stage startups and is the first of its kind in the Baltic region to implement a dual strategy of integrating secondary transactions into a traditional venture capital fund. 

Founded in 2017 by Riivo Anton and Gerri Kodres, Specialist VC is an Estonian-based tech investor that focuses on B2B, SaaS, fintech and marketplace startups in the Baltic region. So far, the firm has invested in and built long-term relationships with over 45 tech companies. Specialist VC has unicorns such as Bolt and Veriff in its portfolio, alongside stand-out startups such as Starship, COMODULE, Monese, and NFTPort. 

Meet us at:

4YFN / Mobile World Congress, Barcelona, 1–2 March 2022

InsurTech Insights Europe, London: 15–16 March 2022

Finovate Europe 2022, London: 22–23 March 2022

Money2020 Europe, Amsterdam: 7-9 June 2022 

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Cooler Future and Swisscom Ventures; European FinTech deals this week include Billhop, Vivid, Silvr and Selina Finance

European FinTech deals this week include Billhop, Vivid, Silvr and Selina Finance

We feature Q&As with Matti Rönkkö of Cooler Future and Semih Kacan of Swisscom Ventures

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

 7 Questions with Matti Rönkkö of Cooler Future

1.Tell us a bit about yourself, your background and leisure.

I’m a born and raised Finn but have done most of my career outside of Finland. I am not good at anything, so I have big hopes that soon generalists will be in demand. I am a nature lover; the thicker the forest and the more snow there is, the more I enjoy it.

My career I have built mainly on building and scaling companies. I love the excitement of building something from scratch. In the last few years I have thought a lot about my personal values and the topic of climate change and I decided back in the end of 2017 to make a switch to focus on ways to create a positive impact. That led us into founding Cooler Future back in 2019, to use the skills we have hopefully developed over the years for creating positive climate impact.

http://www.fintechforum.de/7-questions-with-matti-ronkko-of-cooler-future/

7 Questions with Semih Kacan of Swisscom Ventures

1.Please tell us a bit about yourself, both at work and leisure.

My name is Semih Kacan, and I am Investment Manager at Swisscom Ventures. I’ve joined Swisscom Ventures at the beginning of 2021 to strengthen the Fintech and Blockchain allocation in the portfolio. Prior to Swisscom Ventures I spent over 10 years in Strategy Consulting, Corporate Strategy, Business Development and Asset Management at Credit Suisse, BearingPoint and Haspa before I co-founded and successfully exited my venture in Zurich. I hold a Master Degree in Corporate Finance from Henley Business School.

I enjoy the time with friends and family and a cup of coffee on sunny days at the beautiful Zurich Lake but also like reading books and watching videos to educate myself about upcoming trends/technologies.

http://www.fintechforum.de/7-questions-with-semih-kacan-of-swisscom-ventures/

Billhop Raises €10.5M in Funding

Billhop, a Stockholm, Sweden-based B2B payments platform, raised €10.5m in funding.

The round was led by EQT Ventures.

The company intends to use the funds for hiring, customer acquisition, and geographical expansion.

Co-founded by Sebastian Andreescu (CEO), Erik Malm (CTO) and Ingemar Sjögren (CFO), Billhop enables businesses to pay supplier invoices using existing cards, regardless of the suppliers’ payment stack, and allow the, to optimize working capital and gain process efficiencies.

The solution manages the complete payment process without having to onboard the end recipient, who is paid through a bank-to-bank transfer, removing barriers to card acceptance in B2B payments (e.g. setting up new card acceptance infrastructure, processing fees).

Billhop serves over 20 markets, catering to Fortune 500 enterprise customers across Europe; and sole traders and SMEs in the UK, Sweden, Netherlands, Italy, Ireland and Finland.

https://www.finsmes.com/2022/02/billhop-raises-e10-5m-in-funding.html

N26 challenger Vivid receives 100 million euros from investors

The Berlin-based start-up bank Vivid is on its way to a billion-dollar valuation. The competitor of the smartphone bank N26 wants to increase its pace of expansion.

The smartphone bank Vivid Money has successfully completed a financing round of 100 million euros. With the new round, the Berlin-based company doubles its valuation to 775 million euros, Vivid announced on Monday. The third round of investments was led by Greenoaks Capital with participation from Ribbit Capital and Softbank Vision Fund 2.

On the one hand, Vivid wants to use the investors’ money to win additional customers. So far, over 500,000 people have signed up for Vivid. However, the account is not actively used by all users. Artem Iamanov, co-founder of Vivid, said the money will also be used to hire additional employees. The financial platform should be expanded into a “super app”.

Vivid not only offers the classic functions of a current account. Customers can also invest their money in stocks, funds and other financial products in the app. In addition, you can also invest in crypto currencies via Vivid. Even after the downturn in the prices of Bitcoin, Ethereum and other coins in recent weeks, interest in crypto currencies remains unbroken. Industry insiders expect that the larger Vivid competitor N26 will also introduce similar investment functions in the foreseeable future.

https://www.wiwo.de/onlinebanken-n26-herausforderer-vivid-erhaelt-100-millionen-euro-von-investoren/28044312.html

French fintech startup Silvr secures €130 million in its mission to support companies to grow

Founded in 2020, French fintech Silvr is reinventing the way entrepreneurs get funded, and they’ve just secured €130 million to do so – one of the largest fundraising operations in the RBF sector in Continental Europe.

The funding was led by XAnge, Otium, Bpifrance, Eurazeo, ISAI and business angels, Alexandre Prot and Steve Anavi (co-founders of Qonto), Raphaël Vullierme (co-founder of Luko), Louis Chatriot (co-founder of Alma) and Pierre Dutaret (co-founder of Libeo).

Silvr works to empower entrepreneurs that are building the businesses of the future by making access to funding easier, more scalable and equity-free. The startup leverages digital businesses data to predict future revenues and offer funding in just 24 hours. Currently, the startup is focusing on two verticals – ecommerce and SaaS.

Headquartered by Paris and created by two serial entrepreneurs Nima Karimi and Grégory Tappero, this new finding comes after a €3 million seed raise in 2021. The startup now has about 20 employees and has already financed more than 100 companies – including Pixpay, Cuure, Poiscaille, Lovys and Partoo.

https://www.eu-startups.com/2022/02/french-fintech-startup-silvr-secures-e130-million-in-its-mission-to-support-companies-to-grow/

UK fintech Selina Finance raises $150m in Series B funding round

Consumer lending fintech Selina Finance has raised a total of $150 million in a Series B round made up of a combination of equity and debt financing.

The firm secured $35 million in equity funding led by Lightrock with additional participation from existing investors.

Additionally, $115 million in debt was secured from Goldman Sachs and GGC to fund further expansion as Selina builds towards going public.

Founded in 2019, Selina describes itself as “the UK’s first Home Equity Line of Credit (HELOC) fintech”. It enables homeowners to unlock the value in their homes by borrowing against their equity at low interest rates with a flexible line of credit, only paying for the funds they use.

The practice is already widespread in the US, where the market is valued at $150 billion annually.

Since it gained regulatory approval for consumer lending in 2020, Selina says it has made over $100 million (£74m) worth of loans via its HELOC product in the UK.

https://www.fintechfutures.com/2022/02/uk-fintech-selina-finance-raises-150m-in-series-b-funding-round/

BNPL Biller Acquires Banking Circle

AI-powered buy now, pay later (BNPL) service Biller, has acquired and “joined” Banking Circle.

Biller states that it will benefit from immediate access to the firm’s technology infrastructure, financial resources, payment rails, and licenses to accelerate its European expansion.

Banking Circle is a provider of financial infrastructure that is said to provide Biller with access to “fronting banking services” and “account infrastructure” while Banking Circle will support Biller’s growth plans.

Biller, based in Amsterdam, offers an AI-driven payment method that allows business buyers to order online and pay directly while performing real-time credit and fraud checks along with an automated debt management service.

Biller was founded by three former managers of Mollie and Klarna, and Dutch venture studio, Slimmer AI. The Biller founders state they were operational and live with their first customer in just three months.

Biller now expects to boost its European expansion plans covering the UK, Germany, Belgium, and Nordics in the first half of 2022. Full European coverage is expected to be achieved within 12-24 months.

https://www.crowdfundinsider.com/2022/02/186390-bnpl-biller-acquires-banking-circle/

Amsterdam’s Connected Capital closes €154 million fund to boost European B2B SaaS startups

Connected Capital, a leading investor focused on rapidly growing B2B SaaS businesses, has just closed its oversubscribed Fund 11 at a total of €154 million, bringing the firms total committed capital to over €200 million. 

After a massive 2021 for European tech, we are seeing more and more of these big funds being announced by European VC’s – it’s a good sign of things to come for the year, fresh money boosting fresh innovation and ambition.

2021 was a record-breaking year for the European tech startup ecosystem, and European innovation is captivating attention across the world for its dynamic and progressive energy. Amsterdam-based Connected Capital is reaffirming its commitment to growth and buy-out investment in European B2B SaaS businesses with this fund, which is 3x the size of its previous fund.

https://www.eu-startups.com/2022/02/amsterdams-connected-capital-closes-e154-million-fund-to-boost-european-b2b-saas-startups/

Meet us at:

4YFN / Mobile World Congress, Barcelona, 1–2 March 2022

InsurTech Insights Europe, London: 15–16 March 2022

Finovate Europe 2022, London: 22–23 March 2022

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

 

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

 

 

 

 

Q&As with AAZZUR and Arab Bank; Early stage European FinTech deals this week include Laka, Circula, Tumm, PennyLane, Moss, Descartes Underwriting and Wayflyer

European FinTech deals this week include Laka, Circula, Tumm, PennyLane, Moss, Descartes Underwriting and Wayflyer

We feature Q&As with Philipp Buschmann of AAZZUR and Hala Zahran of Arab Bank

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

 7 Questions with Philipp Buschmann of AAZZUR

1.Tell us a bit about yourself, your background and leisure.

I am an entrepreneur, a husband and passionate about fintech. At my first job at Razorfish I helped build trading tech for State Street Bank; as a strategy consultant I helped design the portal for online banking at Sparkasse and as an entrepreneur have helped lenders and challenger banks get launched.

My personal passion is cooking and snowboarding. One is good for the head (almost like a meditation) and the other is good at enjoyment and hurting myself on the slopes. These I think are natural Austrian hobbies: eat, drink and ski!

http://www.fintechforum.de/7-questions-with-philipp-buschmann-of-aazzur/

Questions with Hala Zahran of Arab Bank

1.Please tell us a bit about yourself, both at work and leisure.

I am an early stage investor focusing on FinTech primarily B2C in MENA and B2B globally. I also spend a lot of time thinking and reading about the future of finance and ways technology can close the wealth gap across the globe and improve lives. I am a strong believer in the power of many, and the depth and breadth of the impact collaborative ecosystems and communities can have. I seek such opportunities

http://www.fintechforum.de/questions-with-hala-zahran-of-arab-bank/

UK’s mobility insurtech startup Laka secures €10.6M from Ponooc, ABN AMRO, others

London-based Laka, a peer-to-peer bicycle insurance platform that insures bicycles and cycling equipment against theft or damage, announced on Wednesday that it has raised $12M (approx €10.6M) in its Series A round of funding. Prior to this, the company had raised €4.29M in funding, in February 2020.

According to a statement, the e-mobility sector is set to grow further as consumers and commercial businesses turn to cleaner forms of transport. With 19 per cent of commuters now likely to cycle to work after the lockdowns due to the Covid-19 pandemic, the retail mobility market has a strong growth outlook. Laka aims to capitalise on this year-on-year sector growth.

https://siliconcanals.com/news/startups/travel-mobility/laka-secures-10-6m/

Berlin-based employee finance app, Circula, scores €12 million and plans international expansion

SaaS fintech startup Circula has today announced the close of a €12 million funding round for its employee finance app that is bringing more time and money to employees. The funding includes participation from ALSTIN Capital, Peak, and Storm Ventures.  Existing investors Capnamic, Main Incubator and WENVEST Capital are also participating again. 

The Berlin-based startup offers companies a comprehensive employee finance app that can be used by employees to digitally process expenses (e.g allowance and travel costs), and use employee benefits in a tax-compliant manner.  It also provides employees with corporate credit cards with real credit lines, cashback and real-time statements, seamlessly integrated with Circula workflows.

Founded in 2017, Circula offers mid-sized and large companies alike a consolidated platform for managing expenses, credit card payments and corporate benefits in the areas that are important to every employee: meals, mobility and home office. The product reflects the current changes in the working world: simplicity, automation and appreciation are not only reflected in the expectations for modern products but also for employee experiences.

https://www.eu-startups.com/2022/01/berlin-based-employee-finance-app-circula-scores-e12-million-and-plans-international-expansion/

Tuum Raises €15M in Series A Funding

Tuum, a Tallinn, Estonia-based core banking platform, raised €15m in Series A funding.

The round was led by Portage Ventures joined by existing investors Blackfin Capital Partners and Karma Ventures.

The company intends to use the funds to continue investing in product innovation and support global growth, focusing initially on strengthening its EU and UK presence, and to make investment in its team, projecting to double the team to 140 employees by the end of 2022. 

The new funding announcement follows a robust year of growth, with Tuum’s contracted annual recurring revenue increasing more than 3 times in 2021 compared to the previous year. 

Founded in 2019 and led by CEO Vilve Vene, Tuum is a next-generation core banking technology provider. Its API-first, cloud-agnostic and highly configurable banking platform covers all retail and business banking processes, allowing banks, fintech startups or even non-financial companies to easily roll out customer-centric financial solutions. The modularity aspect enables each company to pick and choose the exact capabilities they wish to start with and always add additional ones in the future.

https://www.finsmes.com/2022/01/tuum-raises-e15m-in-series-a-funding.html

French fintech Pennylane raises €50 million to accelerate expansion of its financial OS for European SMBs and accounting firms

Launched in 2020, Pennylane is continuing its journey of fast-paced growth with a fresh funding boost of €50 million just secured. The company wants to become the leading financial OS on the European market, enabling thousands of small businesses to centralize their financial management in a single tool. 

This latest round of funding for the Parisian fintech comes from existing investors Sequoia Capital, Global Founders Capital and Partech and will make Pennyland one of the only platforms combining a complete software solution for accountants and a financial management tool for VSEs/SMEs.

Since raising €15 million last year, the French startup has seen incredible progress in its mission to help companies regain control of their finances. We also reckoned they were one to watch last year.  Over the past few months, it has built and delivered a unique solution to the market: a platform that combines a complete software solution for accountants and management and a decision-making tool for company managers. Pennylane also provides small and medium-sized businesses with the ability to manage their cash flow, pay their clients, use numerous integrations, and exchange information with their accountants in real-time.

The company now has 180 employees representing 20 nationalities, with a plan to grow to 500 employees by the end of the year, creating one of the largest tech teams seen in the European account-tech industry. To drive this recruitment effort they have a 15 person talent team and crucially they operate as remote-first throughout Europe for their technical team. With almost half of the developers recruited in 2021  located in Spain, Germany or Romania, Pennylane has developed a highly successful remote-first working culture.  

https://www.eu-startups.com/2022/01/french-fintech-pennylane-raises-e50-million-to-accelerate-expansion-of-its-financial-os-for-european-smbs-and-accounting-firms/

German fintech start-up Moss secures $86m Series B funding at $573m valuation

Berlin-based spend management start-up Moss has raised €75 million ($86 million) in Series B financing.

Moss has raised around $149m in total funding

The round was led by US VC firm Tiger Global with participation from A-Star and comes just six months after a $29 million Series A extension round led by Peter Thiel’s Valar Ventures.

The firm says it has doubled the size of its team and quadrupled its number of customers in the months since its last round.

Moss has now raised around €130 million ($149 million) in total funding, and this latest cash injection takes the company’s valuation to over €500 million ($573 million).

The start-up offers corporate credit cards and spend management software for start-ups and small to medium-sized enterprises (SMEs).

Moss claims to have dished out more than 20,000 physical and virtual credit cards since its launch in 2020, processing more than 250,000 transactions.

Initially only available in Germany, the fintech expanded its services to the Netherlands last year, and now has its eyes set on further growth into the UK market.

The firm says it plans to launch in the UK in the “next few months”, with other markets set to follow “later this year”.

Moss adds the new funds will also be used for further product development, with a focus on “spend controlling, liquidity planning and accounting automation”, as well as expanding its team “significantly” in the areas of product, technology, marketing and sales.

https://www.fintechfutures.com/2022/01/german-fintech-start-up-moss-secures-86m-series-b-funding-at-573m-valuation/

Index-based insurance provider Descartes Underwriting triggers $120 million in new funding

Parisian insurtech Descartes Underwriting has raised $120 million in a Series B funding round. The company is specifically helping corporate customers mitigate their exposure to climate-related and emerging risks through a number of parametric insurance products. The new funding will be used to further develop its technology platform, expand new business verticals, and continue global expansion plans. Since 2019, Descartes Underwriting has raised a total of $122.8 million.

According to a 2019 report from the UN’s International Labour Organization, “80 million jobs would be at risk if rising temperature predictions materialize, with productivity impacted by unlivable working environments.” Couple that with a Nature report that noted, “the U.S. alone could lose $520 billion across 22 sectors due to global temperature rise,” and connecting the dots begins to become a much easier exercise.

Taking on one of the insurance industry’s traditional methods, catastrophe (CAT) risk modeling, Descartes Underwriting is leveraging new data sources and fusing them with a host of AI algorithms to provide what they refer to as a “product offering which covers the full spectrum of natural catastrophes and emerging risk exposures.”

Working in tandem with corporate brokers Descartes Underwriting and its team of 50 engineers and data scientists, offer over 200 corporate clients, many in the Fortune 500, fully tailored insurance solutions to provide adequate insurances in a rapidly changing environment, both physically and on the markets.

https://tech.eu/brief/index-based-insurance-provider-descartes-underwriting-triggers-120-million-in-new-funding/

Revenue-based financing platform Wayflyer brings in $150 million, now at $1.6 billion valuation

Dublin-based revenue-based financing platform Wayflyer has raised $150 million in an all-equity Series B funding round, and in doing so, joins the unicorn club at a $1.6 billion valuation. A portion of the funding is slated to be used to double the startups’ headcount to a robust 500+ staff within the next six to nine months, as well as increase the amount of capital it is able to provide to qualified clients. Since October of 2020 Wayflyer has raised approximately $336 million.

Wayflyer is now the sixth home-grown unicorn for the Emerald Isle, and the fastest to achieve unicorn status, having garnered the title in just 2.5 years.

Much like their competitors, Wayflyer provides non-dilutive, revenue-based debt funding to fledgling companies, and in the case of e-commerce, paves the way for the advanced purchasing of inventory. I.e. working capital.

Having only gone live in April of 2020, Wayflyer has distributed over $500 million to qualified businesses, with 2021’s year-over-year number rising a staggering 900 percent, and typically issues a ticket size ranging between $10,000 and $20 million. The company counts a healthy 800 customers across 11 countries and has a staff of approximately 250 working from Dublin, London, New York, Atlanta, and Sydney.

https://tech.eu/brief/revenue-based-financing-platform-wayflyer-brings-in-150-million-now-at-1-6-billion-valuation/

BitMEX’s Acquisition of Bankhaus von der Heydt is Another Step in the Rehabilitation of the Crypto Trading Platform

Last week, BitMEX announced its intent to acquire Bankhaus von der Heydt. The deal is actually structured so that BXM Operations AG, founded by BitMEX CEO  Alexander Höptner and CFO Stephan Lutz, will acquire the bank located in Munich, Germany. While the purchase is subject to the standard approvals of BaFin, the acquisition should propel BitMEX forward in its quest to offer a regulatory compliant crypto exchange operating in Europe. The terms of the deal were not disclosed.

Founded in 1745, Bankhaus von der Heydt has been open to Fintech innovation. Last fall, the privately-owned bank announced a partnership with Fireblocks to expand into digital assets and provide crypto custody.

For BitMEX, it aims to offer a single location for regulated crypto in Europe, and around the world,  starting with DACH countries.

https://www.crowdfundinsider.com/2022/01/186062-bitmexs-acquisition-of-bankhaus-von-der-heydt-is-another-step-in-the-rehabilitation-of-the-crypto-trading-platform/

Focusing on European marketplace startups, DutchFounders close second fund at €62 million

Amsterdam-based DutchFounders has announced the close of their second fund at €62 million, a figure nearly quadruple the first fund which clocked in at €16.7 million. The boutique firm places a specialist emphasis on supporting European marketplace platforms, with 70% of its pre-seed and seed-stage funding reserved specifically for this geography.

While DutchFounders is reaffirming its commitment to marketplace platforms, with this iteration, supply chain services, including technologies that enable frictionless transactions, such as fintech solutions or web3 applications, are at the top of the list.

DutchFounders, or Dutch Founders Fund, was established in the late summer of 2018 and consists of a cooperative that includes ​​successful Dutch entrepreneurs Laurens Groenendijk (Just Eat, Treatwell, Miinto, Hiber), Patrick Kerssemakers (fonQ), Bas Beerens (WeTransfer), Hidde Hoogcarspel (Spacebuzz) and Remco van Zanten (Booking.com, Zalando, Vinted and BCG).

“Besides efficiency gains, a marketplace allows for a more equitable distribution of resources. Not so long ago, the rules were set by the dominant player. Now, people can track their orders, compare reviews, and bargain for a better price, which has created a level playing field for both supply and demand,” elaborated Groenendijk.

https://tech.eu/brief/focusing-on-european-marketplace-startups-dutchfounders-close-second-fund-at-e62-million/

 

Meet us at:

4YFN / Mobile World Congress, Barcelona, 1–2 March 2022

InsurTech Insights Europe, London: 15–16 March 2022

Finovate Europe 2022, London: 22–23 March 2022

South Summit 2022, Madrid: 8–10 June 2022

SuperVentures Berlin: 14–15 June 2022

Digital Insurance Agenda, Amsterdam: 29–30 June 2022

 

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

 

 

 

 

7 Questions with Hala Zahran of AB Accelerator

1.Please tell us a bit about yourself, both at work and leisure.

I am an early stage investor focusing on FinTech primarily B2C in MENA and B2B globally. I also spend a lot of time thinking and reading about the future of finance and ways technology can close the wealth gap across the globe and improve lives. I am a strong believer in the power of many, and the depth and breadth of the impact collaborative ecosystems and communities can have. I seek such opportunities.

2.What are your focus areas, overall and within the FinTech space?

Embedded finance is a big one especially right now. We believe however in models that target the millennials whether its trading apps and BNPL, NFTs, and the creative economy.

3.Any recent deals that you would like to share with us, and why you invested or partnered?

We recently invested in Khazna, a company in Egypt that is addressing the underbanked segment by availing salary advances, bill payments, P2P transfers. We are very proud of the growth Khazna has accomplished, especially as their services improves the well-being of a very large segment in the Egyptian market. We are also proud of Baraka, which is the first neo-broker in MENA, based in the UAE they already have a strong MENA scope, we like them because they are laser focused on first-time investors and their product is clearly very centric around that.

4.What does it take to get to Series A today?

Aggressive growth, laser focus on execution, and investors who can support.

5.Which are the trends to watch out for in the next 6-18 months?

Embedded Finance and banking as a service. NFTs and crypto.

Q&As with 9fin and RGAX; Early stage European FinTech deals this week include Banxware and Global Processing Service

European FinTech deals this week include Banxware and Global Processing Service

We feature Q&As with Hussam EL-Sheikh of 9fin and Karim Rabbani of RGAX

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

 7 Questions with Hussam EL-Sheikh, 9fin

1.Tell us a bit about yourself, your background and leisure.

Hey I’m Huss, CTO & Co-founder of 9fin. I think I’d describe myself as an engineer in every sense of the word. So, via a degree in Aerospace Engineering, taking apart my siblings’ toys as a child, learning programming at school from age 12, I find myself now running a technology startup serving up news, data and analysis to the financial markets. I love Formula 1, and it’s been a very stressful (but exciting) 2021 championship this year. I’m trying to get better at badminton after taking it up for the first time a couple of years ago… At least my height lets me get away with not being any good yet!

http://www.fintechforum.de/7-questions-with-hussam-el-sheikh-of-9fin/

7 Questions with Karim Rabbani of RGAX

1.Please tell us a bit about yourself, both at work and leisure.

I’m a Senior Analyst in the Ventures & Acquisitions team of RGAX, based out of Amsterdam. RGAX is the transformation engine of RGA, promoting and accelerating innovation within the Life and Health insurance sectors by means of organic and inorganic initiatives. RGA is one of the largest global life and health reinsurance companies.

I joined the organization in 2018 to support the EMEA region on deal sourcing activities, executing partnerships and managing our portfolio of 30+ startups globally.

Prior to joining RGAX I worked in Corporate Banking at ABN AMRO and in Port Logistics at the Port of Rotterdam. I hold a Master Degree in Business Management from Cass Business School in London and a Corporate Communication’s Master from the University of Amsterdam.

Personally, I enjoy travelling and experiencing new cultures. I’m also a sports fan and play soccer and squash. In addition, I volunteer for a foundation that promotes dialogue and understanding between the Arab World and Europe through education.

http://www.fintechforum.de/7-questions-with-karim-rabbani-of-rgax/

Embedded finance fintech Banxware raises EUR 10 million in seed expansion round

Germany-based embedded finance fintech Banxware has announced raising EUR 10 million in a seed expansion round led by Element Ventures. 

Co-investors included D4 Ventures, FinVC, and Varengold Bank AG and Banxware’s existing investors Force over Mass, VR Ventures and HTGF significantly increased their investments in this round. In February 2021, the company already collected EUR 4 million and the leading investors at the time were UK-based venture capitalist Force over Mass and VR Ventures.

Banxware sees itself as a lending-as-a-service provider and its solution enables digital platforms as well as marketplaces and payment service providers to offer their business customers embedded financing products in real-time. The United Volksbank Raiffeisenbank is the first bank partner to provide a total of EUR 100 million in credit for SMEs. According to a Banxware representative, the capital injection will be used to further develop the offer, enlarge the team and expand product development, sales and marketing to digital platforms across Europe.

https://thepaypers.com/online-mobile-banking/embedded-finance-fintech-banxware-raises-eur-10-million-in-seed-expansion-round–1253859

Founded in 2019, Element Ventures has backed some of the best founders and companies in the industry over the last decade and had the privilege of investing with the world’s leading financial services and venture firms.

Global Processing Services adds $100 million to the pile, closes round at $400 million

London-based Global Processing Services has announced an additional $100 million raise, adding on to an already impressive $300 million round. The funding is slated to be used in further R&D projects as the company aims to remain at the forefront of powering some of the world’s leading fintechs that include Revolut, Curve, Starling Bank, Zilch, WeLab Bank, and Paidy. Since 2018 GPS has raised a total of $458 million.

Providing a host of underpinning services including virtual cards, mobile wallet solutions, real-time transaction data, chargeback facilitation, and the list goes on and on, GPS might not be a household name, but chances are you’ve indirectly used one of their products within the past few years.

In so much, through its customers and partners, the company is active in 48 countries and has issued over 190 million physical and virtual cards, and last year processed more than 1.3 billion transactions.

Adding on to an impressive track record, GPS has also scored a win in the recent appointment of Gene Lockhart as chair of the GPS board. Lockhart, chair and general partner at investor MissionOG will be able to provide valuable insight to the company as he formerly served as CEO and president at Mastercard International and president of the global retail bank at Bank of America.

Global Processing Services’ additional $100 million in funding was provided by Temasek and MissionOG who follow the lead investment from Advent International and Viking Global.

https://tech.eu/brief/global-processing-services-adds-100-million-to-the-pile-closes-round-at-400-million/

Incorporated in 1974, Temasek is an investment company headquartered in Singapore. Supported by 13 offices internationally, Temasek owns a net portfolio value of S$381 billion (US$283 billion) as at 31 March 2021. Their portfolio covers a broad spectrum of sectors, including: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; life sciences & agribusiness; as well as energy & resources. 

Headquartered in Pennsylvania, MissionOG partners with high-growth businesses that have proven models in segments where we have had success as operators and investors, including financial services and payments, data platforms, and software. 

Levenue acquires Amsterdam-based fintech company Requr to consolidate its position in RBF market

Levenue, a revenue-based finance marketplace, announced that it has acquired Amsterdam-based fintech company Requr for an undisclosed fee. With this move, Levenue aims to capitalise on the growing popularity of Revenue-Based-Financing (RBF). 

For the uninitiated, RBF is a way to raise funds based on the company’s revenues. Companies that opt for RBF will have to pledge a part of their annual revenue in exchange for capital. In this case, founders do not have to give up equity or collateral.

Levenue says the acquisition of Requr has consolidated its position as the “one-stop go-to funding solution” for all European subscription-based businesses. 

Requr’s founders have emphasised that they believe their data flow, underwriting, and data analysis model will work well with Levenue’s technological capabilities, international team, marketing strategy, and experience.

The acquisition follows Levenue’s expansion into the Nordics after successful launches in the Benelux and the UK.

https://siliconcanals.com/news/startups/levenue-acquires-requr/

Tandem Bank Acquires Manchester based Oplo, a Consumer Lending Platform

Tandem Bank has reportedly acquired consumer lending platform Oplo.

The strategic acquisition has formed a combined business with £1.2 billion of total assets, £1 billion of funding and 171,000 clients being serviced by a UK-headquartered team of 500 professionals.

Tandem was established back in 2014 as one of the United Kingdom’s first digital banking challengers. Over the years, the firm has undergone several key changes in order to establish a profitable business model. The firm acquired Harrods Bank back in 2018, closing down its credit card business in 2020 and repositioning itself as a “green” lender with the acquisition of Allium Lending Group a few years back.

https://www.crowdfundinsider.com/2022/01/185504-tandem-bank-acquires-manchester-based-oplo-a-consumer-lending-platform/

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022 https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

 

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Q&As with Universal-Investment and Hufsy; Early stage European FinTech deals this week include Sygnum and PrimaryBid

European FinTech deals this week include Sygnum and PrimaryBid

We feature Q&As with Daniel Andemeskel of Universal-Investment and Kristoffer Borg Petersen of Hufsy

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

 7 Questions with Daniel Andemeskel of Universal-Investment

1.Tell us a bit about yourself, your background and leisure.

Hello, I am Daniel Andemeskel, Director and Head of Innovation Management at Universal-Investment. I am currently responsible for the Group’s innovation agenda while at the same time developing the next generation investment platform for digital assets, leveraging on Blockchain and AI. Prior to joining Universal-Investment, I gained over 20 years’ experience in investment management in several functions. My motto is to envision new innovations instead of building faster horses (just like the famous quote of Henry Ford) which is why I enjoy speaking at international conferences and panels on innovation and digital transformation. Besides, I am a member of several Blockchain consortiums and forums and like to initiate collaborations on Blockchain.

Work aside, in my personal life I like to travel and discover new cultures and countries. Alongside my passion for cooking and wine. To compensate my full calendar, I am trying to do as much sports as possible, frequent morning runs are my favorite. This is rounded up with the fact that I am an early bird (waking up every morning between 4:30am and 5:00am). I use these morning hours for the innovation visioning and creative part of my job.

http://www.fintechforum.de/7-questions-with-daniel-andemeskel-of-universal-investment/

 

7 Questions with Kristoffer Borg Petersen, Hufsy

1.Please tell us a bit about yourself and Hufsy.

I’m Kristoffer and I’m the CEO of Hufsy. I’m overall responsible for running the business both in our HQ in Copenhagen as well as our office in Berlin. Prior to working with Hufsy I spent many years in the digital media business. I have worked for Microsoft and Bonnier Publications amongst others. My focus has always been commercial whether it has been sales management or business development and I bring my experience from the more corporate world to the start-up world of Hufsy.

http://www.fintechforum.de/7-questions-with-kristoffer-borg-petersen-hufsy/

Swiss digital asset bank Sygnum secures €79.5M funding, eyes global expansion

Sygnum, a Zurich-based digital asset bank, and trading platform, announced on Thursday that it has raised $90M (approx €79.5M) funding in an oversubscribed Series B funding round. 

Sun Hung Kai & Co. Limited, a Hong Kong-listed alternative investment financial services institution, led the round.

Other new and existing investors such as Meta Investments, Animoca Brands, Wemade, SBI Holdings, and Siam Commercial Bank’s digital investment arm, SCB 10X, also participated in the round. 

The round also saw the participation of a large group of employees as personal investors, claims the company in a press release. The Series B round gives Sygnum a post-money valuation of $800M (approx €707M). 

https://siliconcanals.com/news/startups/sygnum-secures-79-5m/

Sun Hung Kai & Co. Limited (SEHK: 86) is a leader in alternative investing headquartered in Hong Kong. Since its establishment in 1969, the Group has owned and operated market-leading platforms in Financial Services. The Group invests across public markets, alternatives and real assets and has an established track record of generating long-term risk adjusted returns for its shareholders. 

British fintech PrimaryBid close to finalising $150 mln funding from SoftBank – Sky News

Jan 8 (Reuters) – British fintech company PrimaryBid is close to finalising the details of a $150 million funding round led by SoftBank’s Vision Fund II, Sky News reported on Saturday.

The Series C fund-raising was likely to value the company at more than $500 million on a pre-money basis, Sky News said, citing sources.

PrimaryBid’s latest capital-raising will take the total sum it has raised since it was founded in 2016 to more than $200 million, the report said.

The funding from Softbank’s Vision Fund II will provide PrimaryBid with “greater financial firepower” to continue its expansion beyond the UK, Sky News said.

SoftBank and PrimaryBid were not immediately available for comment outside business hours.

https://www.reuters.com/markets/europe/british-fintech-primarybid-close-finalising-150-mln-funding-softbank-sky-news-2022-01-08/

Through the SoftBank Vision Funds, SoftBank Investment Advisers, headquartered in London, are investing in more than $100 billion in the businesses and technologies. They offer the operational expertise, global network and patient capital required to help exceptional founders build market-leading companies.

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022 https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

 

 

 

 

Q&As with Margaris Ventures and Soehnholz ESG GmbH; Early stage European FinTech deal this week include Ibancar

European FinTech deals this week include Ibancar

We feature Q&As with Spiros Margaris of Margaris Ventures and Dirk Soehnholz of Soehnholz ESG GmbH

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar

 7 Questions with Spiros Margaris, Margaris Ventures 

1.Tell us a bit about yourself, your background and leisure.

My name is Spiros Margaris, and I am a venture capitalist (VC) and the founder of Margaris Ventures. I have been in the investment business for quite some time, with more than 25 years of international experience in investment management/research and startups. In my role as a VC, I also act as an advisor to my globally spread FinTech and InsurTech startup portfolio. I am the first international influencer to achieve ‘The Triple Crown’ of influencer rankings by being ranked the global No. 1 FinTech, artificial intelligence (AI) and blockchain influencer by Onalytica in 2018. I am very fortunate to regularly appear in the top three positions of the established global industry influencer rankings due to the generous support of great FinTech industry friends and participants. In 2017, I had the opportunity to give a speech at the TEDxAcademy Talk. In addition, for the enterprise software vendor SAP, I wrote an AI white paper, ‘Machine learning in financial services: Changing the rules of the game’.

http://www.fintechforum.de/7-questions-with-spiros-margaris-margaris-ventures/

7 Questions with Prof. Dr. Dirk Soehnholz, Soehnholz ESG GmbH

1. Please tell us a bit about yourself, both at work and leisure.

After my business studies in Germany and the US, I started my career as a management consultant. In 1999, together with a German multi-family office, I started an alternative investment fund of funds advisor. From 2012 to 2015, I was executive board member of a mutual fund company focusing on portfolios of index funds and we started three responsible Environmental, Social and Governance (ESG) funds. In 2016, I started my own company Diversifkator. The focus is on pure and customized ESG portfolios.

My hobbies are table tennis, reading and writing.

http://www.fintechforum.de/7-questions-with-prof-dr-dirk-soehnholz-diversifikator/

Ibancar Raises €10M in Funding

Ibancar, a Madrid, Spain-based provider of a credit platform for consumers, received a debt facility up to an amount of €10m.

The round was led by Knuru Capital.

The facility has been led by global venture capital and private credit investor Knuru Capital and will allow the platform to fund its growing loan book and continue its explosive growth trajectory. The facility will complement Ibancars existing and ongoing debt funding from crowdlending marketplaces. The company intends to use the funds to scale fast in Spain, expand its activity to Mexico as well as launch other auto related credit products.

Led by Alex Melis, founder and CEO, Ibancar provides an asset based consumer credit platform that makes affordable online loans available to the full social and credit spectrum of borrowers with a focus on ethical and inclusive lending practices. Its use of cars as collateral also allows it to bring underbanked, unbanked and credit invisible borrowers into the online consumer finance market.

https://www.finsmes.com/2021/12/ibancar-raises-e10m-in-funding.html

Headquartered in Dubai, Knuru is a venture capital investor deploying transformative capital into growth stage technology businesses globally with a particular interest in the financial services industry and emerging markets.

Tink Completes Acquisition of FinTecSystems

Tink, a Swedish open banking platform, completed the acquisition of FinTecSystems, a Germany based open banking infrastructure fintech companyy, following regulatory approval.

The amount of the deal was not disclosed.

Following the acquisition, the combination of Tink’s pan-European open banking platform and FinTecSystems’ product suite and expertise in the DACH market, will offer both local and international customers in the region a xomprehensive solution when partnering for open banking technology.

The completed acquisition also brings fintech and banking customers to Tink, including N26, DKB, Santander, Solarisbank and Check24. FinTecSystems’ 78 employees become part of the Tink organization, with the new DACH management team including René Sauer, Hannes Rogall and Caroline Jenke alongside Tink’s Cyrosch Kalateh.

Through this completed acquisition, Tink now increases its total number of employees to almost 600. FinTecSystems will continue to function as an independent, regulated company in Germany.

Founded in 2012 in Stockholm, Tink is an open banking platform that enables banks, fintechs and startups to develop data-driven financial services. Through one API, the system allows customers to access aggregated financial data, initiate payments, enrich transactions, verify account ownership and build personal finance management tools. Tink connects to more than 3,400 banks that reach over 250 million bank customers across Europe. The company serves more than 300 banks and fintechs in 18 European markets, out of offices in 13 countries.

https://www.finsmes.com/2021/12/tink-completes-acquisition-of-fintecsystems.html

ACE & Company Closes Fourth Buyout Co-Investment Fund, at $244M

ACE & Company, a Geneva, Switzerland-based global investment firm, closed its fourth private equity co-investment fund, at $244m.

Led by Rob Callahan, Head of ACE Buyout Strategy, ABO IV will continue the strategy of its predecessor funds, supporting high caliber sponsors in their core areas of expertise. While the fund has a North American focus, it will include 20 to 25 companies diversified by sector, size, deal archetype and general partner. The fund will identify and pursue the best opportunities across the private equity universe.

The firm’s buyout program has completed over 70 co-investments since 2011.

Led by Adam Said, Founder and CEO, ACE & Company is a global investment group specialized in private investments with total assets of over $1.6 bn across three investment strategies and investment solutions. Headquartered in Geneva with offices in London, New York, Hong Kong, and Cairo, ACE’s global presence brings the company in direct contact with sourcing partners, investment firms, as well as entrepreneurs and provides investors unparalleled access to a network of opportunities.

https://www.finsmes.com/2021/12/ace-company-closes-fourth-buyout-co-investment-fund-at-244m.html

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022 https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

 

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

 

 

 

 

Q&As with Multiverse Computing and InnoCells; Early stage European FinTech deals this week include Numeral, Silverflow, Pliant, Re:cap and Modifi

European FinTech deals this week include Numeral, Silverflow, Pliant, Re:cap and Modifi

We feature Q&As with Enrique Lizaso Olmos of Multiverse Computing and Paula Blazquez Solano of InnoCells (Banco Sabadell)

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar

FinTech Rising Stars 2021 – nicht verpassen

Der jährliche Online-Report der Szene. Junge FinTech- & InsurTech-Startups aus Deutschland und Österreich, die aktuell den Markt erobern. Rising Stars kommt 2021 das erste Mal heraus. Und ab sofort jährlich im Herbst. Jedes Jahr die neuesten FinTechs/InsurTechs zu entdecken, die im aktuellen Jahr auf den Markt kamen. Und die Trends und Entwicklungen der anderen jungen FinTechs/InsurTechs (die schon in den Jahren davor gelauncht sind — im Report bei jedem Startup steht zB: welche Meilensteine sie in den letzten 12 Monaten erreicht haben, was sie im nächsten Jahr planen, welche Kontakte sie aktuell suchen, etc.)

https://fintech-i.com/report21mb

7 Questions with Enrique Lizaso Olmos of Multiverse Computing

1. Please tell us a bit about yourself, both at work and leisure.

Multiverse Computing. Largest European Quantum Software Company. Backed by the European Investment Council and large VC. Third largest in the world after two American not-so-much-larger competitors. Delivering solutions to financial problems in optimization, machine-learning and pricing that are not correctly answered (or even not answered) with classical computers. Problems that range from $200-300 to $3B in impact in net income. Working for large customers (Top 10 Banks in the world), appeared in the Boston Consulting Group reports, The Economist, Forbes… Single European Company in McKinsey’s Quantum global Technology Council. 24 new patents/year, 34 people now, we are nearly 3 yr old!
Me: Mathematician, 20+ yr in finance (also Computer Engineer, PhD in biostatistics, MBA from IESE Business School -and also MD, yep). I can just speak when my Physics cofounders let me do

http://www.fintechforum.de/7-questions-with-enrique-lizaso-olmos-of-multiverse-computing/

7 Questions with Paula Blazquez Solano of InnoCells (Banco Sabadell)

1. Please tell us a bit about yourself, both at work and leisure.

My name is Paula Blazquez, I lead the Corporate Investment Vehicle of Banco Sabadell, the 4th largest private bank in Spain. At InnoCells, we invest in Fintech related startups across the globe, from seed to series A (tickets between $500k up to $3M). I have worked in venture capital most of my career, having worked for a listed Venture Debt fund based out of Palo Alto, California and later on in a venture fund based in Madrid with a focus on Latam, Spain and India prior to joining InnoCells. I am a proud advisor, investor and Board Member in several Fintech startups.

http://www.fintechforum.de/7-questions-with-paula-blazquez-solano-of-innocells-banco-sabadell/

Addressing the bank payments bottleneck, Numeral raises €13 million

After only six months since its inception, Paris-based Numeral has raised €13 million. The company provides a payment operations automation service specifically targeted at tech companies operating in a variety of industries. The funding will be used to grow the team size from 10 to 40 over the coming months, continue product development, and augment its bank coverage.
Co-founded by Édouard Mandon (previously at Ibanfirst and Jumia) and Hichem Mâalmi (previously at Qonto and Boursorama Banque), Numeral is the newest startup arising from Logic Founders, a joint venture between Camille Tyan and eFounders.
The startup is working on an API and web app solution that allows tech companies to automate payments from creation to reconciliation through a direct bank link. The API side of the offer gives developers the tools to integrate payment options within their own productions, while the web app can be used by the finance and operations teams to keep tabs on the books and make sure payments and accounts are all up to date.

https://tech.eu/brief/addressing-the-bank-payments-bottleneck-numeral-raises-e13-million/

Balderton Capital is a venture capital firm based in London, UK, that invests in early-stage, technology and internet startup companies in Europe. It is considered to be among the four-biggest venture capital firms in the English capital.

Amsterdam-based fintech startup Silverflow raises €15M; plans to grow its team in next 2 years

Amsterdam-based fintech startup Silverflow announced that it has raised $17M (approx €15M) in its Series A round of funding led by Coatue Management.
The round also saw participation from existing investors Crane Venture Partners and INKEF Capital, along with Global Paytech Ventures. In addition, angel investors Jason Gardner, founder and CEO of Marqeta, and Gokul Rajaram, a former Square product lead and current Coinbase board member, also invested in this round.
Michael Gilroy, General Partner at Coatue, says, “The Founder-market fit is the first thing we noted when looking at the Silverflow team. The depth of experience within payments gives this team a unique perspective from which to solve a problem plaguing the industry – outdated infrastructure. The platform is built for the payments industry of today, and has the scalability, flexibility, and usability its partners need.”

https://siliconcanals.com/crowdfunding/silverflow-raises-15m/

New York based Coatue Management LLC is a global investment manager focused on public and private companies in the technology, media and telecommunications industries. Coatue invests in public and private markets with a focus on technology, media, telecommunications. the consumer and healthcare sectors

Berlin-based pliant scores €18 million for its corporate credit card solution

Just 4 months after announcing its first seed round, Berlin-based pliant has closed €18 million for its corporate credit card. The funding was led by Alstin Capital, Main Incubator and Saber, with participation from Ramin Niroumand.
Pliant offers a flexible corporate credit card solution that focuses on seamless integrations into existing processes, alongside providing fully digital card management and cashback. The fintech startup was founded in 2020 by Malte Rau and Fabian Terner.
The young company aims to offer customers an optimal solution through adopting a technology-first approach. The credit card solution can be combined with other SaaS offerings – namely in the areas of accounting, travel expense, and, invoice management. In doing so, pliant is pioneering a flexible credit card solution for companies.
The flexibility of pliant means that its product can individually adapt to the needs, processes and structures of both scaling and established companies. Seamless integration removes the headache that normally arises for companies bringing in new technology to their processes.

https://www.eu-startups.com/2021/12/berlin-based-pliant-scores-e18-million-for-its-corporate-credit-card-solution/

ALSTIN Capital is an independent venture capital fund based in Munich. Their sector focus is technology companies in the field of Fintech / Insurtech / Regtech & Cyber ​​Security / Mobility

German revenue-based financing platform Re:cap raises $111.5M Seed round

Re:cap, a non-dilutive funding platform in a similar vein to Pipe.com and Capchase but based in Europe, has closed a Seed financing round of $111.5 million, in a mix of growth capital and liquidity for the revenue-based financing platform. re:cap’s first product is now officially going live, following a pre-seed funding in May of this year.
The growth capital has come from pan-European VCs Felix Capital and Project A Ventures, with participation from existing investor Entrée Capital. The new capital will be invested into further expansion of the team as well as product and entering new European markets from its launch base of Germany. Initially focused on SaaS businesses, it has plans to move into other verticals.
The company was founded by Paul Becker (CEO) and Jonas Tebbe (CPO), who previously built the LIQID fintech startup.
re:cap allows recurring revenue businesses to fund their growth, but without needing to dilute ownership via VC or taking on debt, with the ability to convert up to 50% of their ARR into instant, non-dilutive upfront cash. At the same time, institutional investors can invest directly in the recurring revenues of software companies.

https://techcrunch.com/2021/12/16/german-revenue-based-financing-platform-recap-raises-111-5m-seed-round/

London based Felix Capital offers flexible capital, investing $500,000 to $10 million early, typically in first or second rounds, and up to $15 million at growth stage or even later in breakout companies in our target segments

Modifi Raises 145MUSD in Debt Financing

Modifi, a Berlin, Germany-based global fintech company, raised 145M USD in debt financing.
Backers included Silicon Valley Bank and Solarisbank.
The company intends to use the funds to expand its reach among small and medium-sized enterprises who want to trade internationally on its digital platform.
Led by CEO and Co-Founder Nelson Holzner, Modifi is a global fintech company that allows small and medium sized businesses (SMEs) to finance and manage their international trades. Serving over 1,000 buyers and sellers across more than 40 countries, the company offers digital solutions that enable SMEs to trade like large corporates.
Modifi currently operates out of 9 offices in Berlin, Amsterdam, New York, Delhi, Mumbai, Shenzhen, Hong Kong, Dubai and Dhaka. Having raised its Series B round in September, the company is now working on major upgrades to its digital platform, which will expand the product offering beyond trade finance and allow customers to take care of all trade-related activities in one place.

https://www.finsmes.com/2021/12/modifi-raises-145musd-in-debt-financing.html

Silicon Valley Bank, a subsidiary of SVB Financial Group, is a U.S.-based high-tech commercial bank. The bank has helped fund more than 30,000 start-ups.

Founded in 2016, Solarisbank is a Berlin-based fintech company that offers Banking-as-a-Service Platform with its German banking license

US subsidiary sold for $16.3 billion

The major French bank BNP Paribas is withdrawing from the American retail banking business. It sells its subsidiary, the Bank of West, to a Canadian competitor.
The major French bank BNP Paribas is selling its Californian subsidiary Bank of the West to the Bank of Montreal (BMO) from Canada. The purchase price is 16.3 billion US dollars, BNP said. With this, the French end their involvement in the American retail market, which has never really been crowned with success because the competition from the domestic banks is great.

Management expects the deal to be completed within the coming year. Shareholders should benefit from this: BNP then wants to buy back its own shares from the market. In addition, it intends to use proceeds from the sale for the expansion of its own business and for possible takeovers. The authorities have yet to approve the sale.

https://www.spiegel.de/wirtschaft/bnp-paribas-verkauft-us-tochter-fuer-16-3-milliarden-dollar-a-cb74eaec-5ee3-4943-9d09-b1d331124a48#ref=rss

Deutsche Börse Finalizes Acquisition of Majority Stake in Crypto Finance

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022  https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

7 Questions with Enrique Lizaso Olmos of Multiverse Computing

1. Tell us a bit about yourself and your company.

Multiverse Computing. Largest European Quantum Software Company. Backed by the European Investment Council and large VC. Third largest in the world after two American not-so-much-larger competitors. Delivering solutions to financial problems in optimization, machine-learning and pricing that are not correctly answered (or even not answered) with classical computers. Problems that range from $200-300 to $3B in impact in net income. Working for large customers (Top 10 Banks in the world), appeared in the Boston Consulting Group reports, The Economist, Forbes… Single European Company in McKinsey’s Quantum global Technology Council. 24 new patents/year, 34 people now, we are nearly 3 yr old!

Me: Mathematician, 20+ yr in finance (also Computer Engineer, PhD in biostatistics, MBA from IESE Business School -and also MD, yep). I can just speak when my Physics cofounders let me do 😉

2.Give us the backstory- how did you get the founding idea, and how did the first sale come about?

The group meet first time in a not-for-profit association (Quantum World Association) who set up a workgroup called “Quantum for Quants”, intended for finance where I was the President. 12 people in this workgroup, just four working for real. These four people are the founders of Multiverse

3.Could you summarize your journey to scale from a sales, go-to-market and business development perspective, perhaps split into 2-3 key phases?

Beware, this is Deep-tech, not just Fintech
i. Initial paper on what you can do and don’t in quantum for finance
ii. Initial customer (BBVA)
iii. Initial round 10M
iv. 2nd year revenues, €3M
v. And now cycling everything again, and again

4.Which was the most challenging phase, and what would you have done differently?

a. Funding
b. So far, trajectory is not so bad. Maybe, a faster acceleration

 

5.When did you decide to expand to the international/ US market, and how?

From the very beginning. Canadian subsidiary with equal size in HR was created nearly at the same time that the European one.

6.When did you first decide to raise venture capital, and what has been your approach to financing growth over the years?

From the very beginning. Speed is key; so funding is key

7.How is building an Enterprise FinTech firm different from a “regular” SaaS / Enterprise Tech company, and what three things should founders get right?

This is deep tech. You must first demonstrate that the solutions work with this edge technology. Paid project come next. And SaaS product later.

8.What’s on the priority list for you and your team for the next year?

a. Massive round
b. Scaling to €6M revs
c. Team to 60 people

9.Where is the financial services sector headed in the next 12-18 months, and what should we be watching out for?

From our point of view, Quantum is here to stay. The BCG also states that. We are even working with Central Banks. Core methods of pricing, allocation of capital, segmentation, etc are going to change for faster, more precise and even greener ones.

10.Your favorite place(s) for a meal, coffee or drink (pre-/ post-COVID19)?

Akelarre, 3 Michelin stars, San Sebastian. Because finance people have always been so posh 😉

 

Q&As with Cooler Future and SeedX Liechtenstein; Early stage European FinTech deals this week include SPG

European FinTech deals this week include SPG

We feature Q&As with Matti Rönkkö of Cooler Future and Cynthia Nadal of SeedX Liechtenstein

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

 7 Questions with Matti Rönkkö of Cooler Future

1.Please tell us a bit about yourself, both at work and leisure.

I’m a born and raised Finn but have done most of my career outside of Finland. I am not good at anything, so I have big hopes that soon generalists will be in demand. I am a nature lover; the thicker the forest and the more snow there is, the more I enjoy it.

My career I have built mainly on building and scaling companies. I love the excitement of building something from scratch. In the last few years I have thought a lot about my personal values and the topic of climate change and I decided back in the end of 2017 to make a switch to focus on ways to create a positive impact. That led us into founding Cooler Future back in 2019, to use the skills we have hopefully developed over the years for creating positive climate impact.

http://www.fintechforum.de/7-questions-with-matti-ronkko-of-cooler-future/

7 Questions with Cynthia Nadal of SeedX Liechtenstein

1.Please tell us a bit about yourself, both at work and leisure.

My name is Cynthia, I am a Partner at Seed X Liechtenstein. I am an operator turned investor and I have previously worked with different accelerators including Techstars, King’s College and Founders Factory in London. Prior to being an investor I have worked for 11+ years at the fintech unicorn Markit (Now IHS markit, being bought by S&P). I learned there everything I know about great product development, corporate innovation and the hurdles of fast growth (IPO on the NASDAQ in 2014 at $5bn valuation, merger with IHS in 2016, now worth more than $40bn).

Work-wise I like connecting the dots and people, understanding the big problems needing solving and who we can learn from. Having the right network also helps to support founders in their growth.

Some of my spare time is also spent on tech boards that I sit on, and supporting female entrepreneurs across Europe.

http://www.fintechforum.de/7-questions-with-cynthia-nadal-of-seedx/

Fintech group SPG raises £25m to grow payments businesses

UK fintech group SPG, which owns Shieldpay and Paycast, has raised $34m (£25m) in a Series A funding round. The investment was led by Marqeta and Mastercard along with participation from CreditEase, Elliott Management, and Techstars.

With the fresh capital, SPG aims to scale up Shieldpay and capitalise on growing demand in the professional services market. Funds will also be used to fuel Paycast in its early stage of growth and bring the payments platform to a consumer audience.

London-headquartered SPG was founded in 2016 and aims to help unknown people transact securely.

The company says it processed more than payments totalling $3bn for its clients and has witnessed a surge in business during the pandemic. Its revenue grew by more than 360% in 2020, according to its own figures.

SPG’s first business, Shieldpay, is a digital platform used in the professional and financial services sectors. It aims to simplify payments and uses automation to replace paper-based transactions.

https://www.uktech.news/fintech/fintech-group-spg-funding-20211207

Founded in 2009, Marqeta Instantly issues & processes card payments with their world class open API platform.

Mastercard is a leading global payments & technology company that connects consumers, businesses, merchants, issuers & governments around the world.

British-based FNZ is acquiring Appway, a Swiss fintech which has worked with a major Swiss bank.

Appway, which provides digital solutions for banks to onboard and advise clients, is selling to FNZ, a British-based firm, the two companies said in a statement on Tuesday. They didn’t disclose financial details of the deal.

Part of the deal is for Appway founder-CEO Hanspeter Wolf (pictured below) to become technology chief of FNZ as well as part of top management.

For FNZ, founded in Wellington, NZ and now based in London, the deal will speed up personalized propositions at scale with its financial services clients. The company said Appway, which developed Credit Suisse’s digital onboarding process, will enable up to 90 percent faster client onboarding.

https://www.finews.com/news/english-news/49108-appway-fintech-fnz

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022 https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

 

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

 

 

 

 

FinTech Rising Stars 2021 – nicht verpassen

Der jährliche Online-Report der Szene. Junge FinTech- & InsurTech-Startups aus Deutschland und Österreich, die aktuell den Markt erobern.
Rising Stars kommt 2021 das erste Mal heraus. Und ab sofort jährlich im Herbst. Jedes Jahr die neuesten FinTechs/InsurTechs zu entdecken, die im aktuellen Jahr auf den Markt kamen. Und die Trends und Entwicklungen der anderen jungen FinTechs/InsurTechs (die schon in den Jahren davor gelauncht sind — im Report bei jedem Startup steht zB: welche Meilensteine sie in den letzten 12 Monaten erreicht haben, was sie im nächsten Jahr planen, welche Kontakte sie aktuell suchen, etc.)

https://fintech-i.com/report21mb

 

Q&As with Wequity and F10 Global; Early stage European FinTech deals this week include Enfuce

European FinTech deals this week include Enfuce

We feature Q&As with Gabriel Levie of Wequity and Gerrit Sindermann of F10 Global.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

 7 Questions with Gabriel Levie of Wequity

1.Please tell us a bit about yourself, both at work and leisure.

I was born and raised in Belgium and was lucky to have a Dutch-speaking mother and French-speaking father, which means I speak both languages fluently. Before starting Wequity I completed my undergraduate studies in Economics and Philosophy in the UK. Since 2019 I have been back in Belgium.

With my cofounder Franck we launched Wequity in February 2021, and we have been working full time with a team of 5 people. On the side I run, climb, and play the piano.

http://www.fintechforum.de/7-questions-with-gabriel-levie-of-wequity/

7 Questions with Gerrit Sindermann of F10 Global

1.Please tell us a bit about yourself, both at work and leisure.

I am leading the Swiss business for F10 Global, a Fintech and Insurtech-focused open accelerator, headquartered in Zurich with further hubs in Singapore and Spain. I am also in the board of our investment company, which invests in F10 startups. Besides that, I am representing F10 in the Swiss Green Fintech Network, launched 2020 to support and leverage the Swiss government’s ambition to develop the country into a leading hub for sustainable finance. With the Green Fintech Network I co-drafted the Swiss Green Fintech Action Plan, and with F10’s partner New Energy Nexus I work on our new global Climate Fintech Accelerator programming.

Prior to F10, I worked 10 years in banking (mostly at ABN AMRO Bank) and 10 years in tech (mostly fintech), founded one and worked with several startups at different stages and on topics ranging from mobile and micropayments to data and analytics.

Off work, I love any kind of outdoor sports (Switzerland being a perfect spot for that…), love(d) traveling and learning about different cultures. Due to the latter and an adventurous mind/heart, I left Germany in 2006 and lived since in The Netherlands, Colombia, Morocco and Ireland. Climate change and environment are major topics of concern and interest for me, thus I am excited that Sustainable Finance is picking up broadly now!

http://www.fintechforum.de/7-questions-with-gerrit-sindermann-of-f10-global/

Female-founded fintech Enfuce raises €45m

The Finnish fintech Enfuce has today announced its €45m Series C, the largest funding round for a female-founded fintech in the Nordics this year.

The round was led by UK-based VC firm Vitruvian Partners, known for having invested in startups like Marqeta and Wise — both now publicly listed at unicorn valuations. Enfuce is one of only a few female-founded fintechs in Europe, along with the likes of MoneyHub and Juno. The two founders, Monika Liikamaa and Denise Johansson, are both in their 40s and both come from a banking background.

Founded in 2016, the company describes itself as a CaaS (card-as-a-service) platform for card issuing. It has  plenty of customers in the non-banking community including Danish expense management startup Pleo, Swedish financial services companies Gee Finance and Qred as well as loyalty programmes like ST1.

https://sifted.eu/articles/fintech-enfuce-raise-45m/

Founded in 2006, UK based Vitruvian Partners is an international investment firm that supports the most ambitious and talented entrepreneurs and companies to achieve their goals. They target growth capital and management buyout deals, investing between €25m-€350m in companies typically valued between €75m-€1bn+.

Moody’s Corporation Acquires PassFort

Moody’s Corporation (NYSE:MCO) acquired PassFort Limited, a UK-based provider of onboarding and Know Your Customer (KYC) technology solutions.

The amount of the deal – funded with cash – was not disclosed.

The acquisition complement Moody’s technology, data, and analytical capabilities, and enhance its customer solutions for KYC, anti-money laundering, compliance, and counterparty risk. Moody’s will integrate the service into its KYC business within Moody’s Analytics, where they will augment the Orbis company database and the GRID database of risk profiles, adverse news, politically exposed persons, and sanctions.

Founded in the UK by Donald Gillies, PassFort is a U.K. SaaS-based workflow platform for identity verification, customer onboarding, and risk analysis. Its software delivers data from over 25 third-party providers and automates the collection, verification, and secure storage of customer and supplier due diligence documentation. The integration of PassFort’s platform into Moody’s suite of KYC and compliance offerings will create a more holistic workflow solution, allowing customers to incorporate Moody’s data, including credit, cyber, ESG, and climate analytics, directly into their proprietary processes.

The company raised $16m in September 2021.

https://www.finsmes.com/2021/12/moodys-corporation-acquires-passfort.html

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022 https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

 

 

 

 

Q&As with Insaas.ai and Swisscom Ventures; Early stage European FinTech deals this week include Timeless, Pomelo and Thought Machine

European FinTech deals this week include Timeless, Pomelo and Thought Machine.

We feature Q&As with Korbinian Spann of Insaas.ai and Semih Kacan of Swisscom Ventures.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar

7 Questions with Korbinian Spann of Insaas.ai

1. Please tell us a bit about yourself, both at work and leisure.

My name is Korbinian, I’m the founder and managing director of Insaas.ai. Our company and I are based in Munich, Germany. I have one son, live in the countryside and love sports like cycling, sailing, running and hiking. As Insaas.ai is a remote-first team, I´m used to working with my team every day via Zoom, Slack and Google. I love being an entrepreneur and work in a team on difficult problems. The understanding and processing of languages is my favorite topic since my studies (Arabic, Hebrew). I enjoy digital marketing and communication, as an expert and as a lecturer at Steinbeis SMI. I’m open minded, curious, and full of positive energy.

http://www.fintechforum.de/7-questions-with-korbinian-spann-of-insaas-ai/

7 Questions with Semih Kacan of Swisscom Ventures

1. Please tell us a bit about yourself, both at work and leisure.

My name is Semih Kacan, and I am Investment Manager at Swisscom Ventures. I’ve joined Swisscom Ventures at the beginning of 2021 to strengthen the Fintech and Blockchain allocation in the portfolio. Prior to Swisscom Ventures I spent over 10 years in Strategy Consulting, Corporate Strategy, Business Development and Asset Management at Credit Suisse, BearingPoint and Haspa before I co-founded and successfully exited my venture in Zurich. I hold a Master Degree in Corporate Finance from Henley Business School.

I enjoy the time with friends and family and a cup of coffee on sunny days at the beautiful Zurich Lake but also like reading books and watching videos to educate myself about upcoming trends/technologies.

http://www.fintechforum.de/7-questions-with-semih-kacan-of-swisscom-ventures/

 
German NFT pioneer Timeless receives twelve million euros

In Europe, a winner has already been determined: Within a short time, the football card startup Sorare has grown into a billion-dollar company. There was a real competition between the prominent financiers to be allowed to invest in the NFT company. German footballers such as André Schürrle or Oliver Bierhoff joined in, the main investor in an early round of financing was Headline (formerly Eventures) and the community has also arrived in Germany, which trades with the football cards on the blockchain. The hyped company is only based in Paris.
While fintechs around the hype topic of non-fungible tokens – NFT for short – are booming, especially in the USA, it was surprisingly quiet in Germany in particular. Despite Berlin’s bustling crypto scene, the big breakthrough has so far failed to material materially.
Now there is a first market signal that a larger player could emerge: Timeless from Berlin secures twelve million euros. The Swedish financier EQT has invested nine million euros, with a further three million coming from existing investors such as Porsche Ventures or EOS VC as well as La Roca Capital.

https://financefwd.com/de/timeless-nft-runde/

EQT Ventures, headquartered in Sweden is the venture capital arm of the Swedish company EQT Partners. EQT Ventures deploys a multi-stage, sector-agnostic strategy, making equity investments from €1 to €75 million in start-ups and scale-ups across Europe and the US.

Pomelo Pay Raises US$10M in Series A Funding

Pomelo Pay, a London, UK-based digital payments company, raised US$10m in Series A funding.
The round was led by Inference Partners.
The company intends to use the funds to expand its presence across global markets including Europe and Asia, starting with plans to double their workforce in London, Singapore, Vietnam, Thailand and the Philippines.
Launched in 2018 in the UK and Singapore and led by Vincent Choi, CEO, Pomelo is an innovative digital payments service provider that allows businesses to take payments from anyone, in any location (physical or digital), at a low cost and without the need for hardware. The company provides an integration with over 30 payment networks globally. Its payments platform is also used by banks and non-banking financial institutions (NBFIs) for an improved acquiring experience, enabling them to offer a broad suite of payment acceptance solutions to their end customers.

https://www.finsmes.com/2021/11/pomelo-pay-raises-us10m-in-series-a-funding.html

Inference Partners is an independent technology investment firm exclusively focused on early-stage infrastructure software investments.

Thought Machine Raises $200M in Series C Funding

Thought Machine, a London, UK-based cloud native core banking technology company, closed $200m Series C funding round.
This round, which saw the company achieve unicorn status, was led by Nyca Partners, with participation from ING Ventures, JPMorgan Chase, and Standard Chartered Ventures, Lloyds Banking Group, British Patient Capital, Eurazeo, SEB, Molten Ventures (formerly Draper Esprit), Backed, and IQ Capital.
The company intends to use the funds to continue developing and expanding Vault and its Universal Product Engine, expand its international reach, strengthening its five global offices and targeting new key markets to accelerate the adoption of cloud native core banking globally.

https://www.finsmes.com/2021/11/thought-machine-raises-200m-in-series-c-funding.html

Nyca is a New York based fintech venture capital firm focused on connecting innovative companies to the global financial system. With over $500 million under management and investments in more than 80 portfolio companies, Nyca is one of the premier fintech venture capital firms in the world.

Luxembourg-based Banking Circle acquires London-based B4B Payments to streamline payment infrastructure

Luxembourg-based Banking Circle, a financial infrastructure provider built for payments businesses and banks, has announced the acquisition of London-based B4B Payments, a company that specialises in smart corporate payments and card solutions for businesses.

The deal is currently going through the regulatory approval process. After closing the acquisition, B4B Payments will operate as an independent sister company of Banking Circle.

Founded in 2006 by Paul Swinton and Rob Anderson, B4B Payments (formerly Payment Card Solutions) is a fintech company that offers payment processing solutions for businesses to manage expenses, simplify payroll, reimbursements, and offer employee rewards and incentives.

https://siliconcanals.com/promoted-content/banking-circle-acquires-b4b-payments/

Introducing Partech Growth II, the $750M Fund Dedicated to European Scale-Ups

Back in 2016, we were thrilled to announce the final closing of our first $440M Growth fund, a true pioneer in its asset class. We made our initial investments in leading companies such as Amboss, M-Files, NA-KD, Sendinblue, and Ecovadis. We helped the likes of MADE.com navigate the journey to IPO; and supported Brandwatch, through a $450M acquisition, finding a larger platform in Cision to help achieve its mission.
It’s been a rewarding journey to say the least, and today we get to celebrate another milestone as we mark the closing of Partech Growth II. The debut of the sequel!

https://partechpartners.com/news/introducing-partech-growth-ii-750m-fund-dedicated-european-scale-ups/

German VC Greenfield One Raises $160M Crypto Fund With Backing From Swisscom, Others

Berlin-based venture capital (VC) firm Greenfield One has raised a $160 million (142 million euros) fund from telecom giant Swisscom, Galaxy Digital and others, to invest in crypto projects, according to a press release shared with CoinDesk.
Greenfield One’s third fund is likely one of the largest crypto funds in Europe to date. Fabric Ventures’ $130 million fund, which was announced earlier this year, was previously thought to be one of the largest European crypto funds.
German media giant Bertelsmann also invested in the $160 million fund. Bertelsmann had invested in Greenfield One’s second fund, which had a target volume of $56 million (50 million euros).
Other investors include Hamburg-based family office Lennertz & Co., Frankfurt-based VC CommerzVentures, and Barcelona-based fund of funds Aldea Ventures. All investors in the fund come from the private sector.

https://www.coindesk.com/business/2021/11/24/german-vc-greenfield-one-raises-160m-crypto-fund-with-backing-from-swisscom-others/

Estonia’s Karma Ventures brings in €100 million to continue backing European deeptech

Tallinn-based Karma Ventures has closed its second fund with a hard cap at €100 million. The firm will use the capital to continue backing the most promising early-stage European deeptech startups in Seed and Series A rounds, with a ticket size ranging up to €5 million.
Led by Tommi Uhari, Margus Uudam, and Kristjan Laanemaa, the trio has over a decade of experience both working with, and investing in deeptech startups with a number of successful exits to SAP, Dynatrace, and Splunk, to name a few.
The firm’s second fund is backed by Baltic Innovation Fund 2 (BIF 2), an initiative created by cooperation between the Republic of Estonia, the Republic of Latvia, the Republic of Lithuania and European Investment Fund, the founding engineers of Skype, Jaan Tallinn and Ahti Heinla (currently at Starship Technologies), Till Quack (Qualcomm, Apple, Mapillary), Jani Huoponen (Google) and Sergei Anikin (CTO at Pipedrive). They join longstanding investors Isomer, Skype founder’s investment company ASI and the pension funds of Swedbank and LHV.

https://tech.eu/brief/estonias-karma-ventures-brings-in-e100-million-to-continue-backing-european-deeptech/

Apply to South Summit, Madrid’s Startup Competition

South Summit (Madrid, June 8th-10th, 2022) is a three-day event that supports entrepreneurship and innovation. It is where startups, investors and corporations come together to share ideas, form alliances, and shape the future. This year’s edition of the Startup Competition welcomes projects from any industry, development stage and country. Apply before February 28th to become one of our 100 finalists and get free tickets, a 3min pitch on stage, networking with our partners and investors, media coverage, mentoring, demo stand and more!

Read more (www.southsummit.co/startup-competition) –Apply now (https://cms.southsummit.co/register/2e2x)

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022  https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

FinTech Forum wraps up Hybrid Edition-Q&As with Fin VC and Aisot; Early stage European FinTech deals this week include Payhawk

Early stage European FinTech deals this week include Payhawk

We feature Q&As with May Wang of Fin VC and Stefan Klauser of Aisot.

Check out the 2nd edition of Scaling Enterprise FinTech | The Handbook, launched in partnership with Money20/20 and SixThirty Ventures is out: http://www.fintechforum.de/sef/

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

FinTech Forum concludes its first hybrid edition at the Airport Club, Frankfurt

Kicking off with a networking lunch, the event – streamed digitally to participants who could not make it in person – started with Samarth Shekhar, Co-Founder of FinTech Forum, summarising the European FinTech scene’s record funding volumes and deals of note this year. This was followed by the first round of startup presentations (Aazzur, aisot, ALLINDEX and Delega – check out the “startups in a tweet” below). David Schaeffler from Hannover Digital Investments / Talanx and Cynthia Nadal of SeedX Liechtenstein covered the trends to watch in InsurTech and FinTech respectively.
Daragh Hanratty of IDA Ireland provided an overview of how Ireland’s agencies can help leading FinTechs and financial institutions scale, following which we made time for a short coffee break.
The 2nd round of startup presentations (QuickCashAI, Insaas.ai, Vermögensheld and Wequity) set the scene for some interesting discussions around ESG for startups and VC firms to follow.
Ertan Can from Multiple Capital shared a fascinating account of his journey setting up one of the first European Fund of Funds, which has invested into 500 ventures via 30 micro VC funds across Europe and the US.

http://www.fintechforum.de/fintech-forum-concludes-its-first-hybrid-edition-at-the-airport-club-frankfurt/

7 Questions with May Wang of Fin VC

1. Please tell us a bit about yourself, both at work and leisure.

I’m an investor at Fin VC, a B2B Fintech/Insurtech focused global venture capital, based out of San Francisco. Fin VC is a team of FinTech nerds with capital, based in SF/NYC and focus on FinTech SaaS in the US and EU/UK. We deploy out of 3 strategies: Regatta (pre-seed, checks of $100K-$1M), Flagship (Early Stage – Seed->B, checks of $1-10M) and Horizons (Growth – C+, checks of $25-50M+, primary/secondary) and have an operating value playbook focused on global BD, corp dev, capital formation, product/GTM, key talent sourcing, and board leadership.
Personally, I’m an avid traveler and a global citizen who has lived in 4 countries across 3 continents. When not at work, you’ll find me hiking/surfing in the summer and skiing in the winter. I’m also mentoring students from underrepresented communities, and an advisor at a Uganda-based NGO.

http://www.fintechforum.de/7-questions-with-may-wang-of-fin-vc/

7 Questions with Stefan Klauser of Aisot

1. Please tell us a bit about yourself, both at work and leisure.

Hi, I am Stefan, Co-Founder & CEO at Aisot Technologies. We are a leading provider of real-time insights for trading and asset management. I always had a passion for both entrepreneurial work and predictive tools. The Oracle of Delphi was by far the coolest thing in Latin class. And my first business I „founded” as a kid, when selling cherries from our garden on our village’s streets. In my free time, I like to be in nature or sing. I have played in rock bands since I was a teenager.

http://www.fintechforum.de/7-questions-with-stefan-klauser-of-asiot/

 
London’s fintech startup Payhawk secures €99.44M; plans to open offices in the US, Netherlands, Australia, Singapore

Payhawk, a London-based fintech startup that provides spending software to simplify expenses, payments, and card spending for growing businesses, announced that it has raised $112M (approx €99.44M) in its Series B round of funding.
With this, the company’s valuation jumped to $570M (approx €506.1M) in just three years after its inception.
The news comes after the London-based platform’s $20M (approx €16.55M) Series A round of funding announced earlier this year in April. The funding was led by QED Investors, which has a strong track record of investing in 18 fintech unicorns including Klarna and Nubank.

https://siliconcanals.com/crowdfunding/payhawk-secures-99-44m/

San Francisco-based investor Greenoaks, a firm that has a strong track record of investing in high-growth technology companies such as Gorillas, Robinhood, Stripe and Brex. Greenoaks Capital makes concentrated, long-term investments in technology-enabled businesses globally

United Fintech acquires trading analytics firm FairXchange

As a first transaction in a multi-stage acquisition towards full ownership, United Fintech has acquired a 25 per cent stake in London-based FairXchange for an undisclosed amount in a transaction integrating the company, its products and employees onto its digital platform.
Trading firms use FairXchange’s state-of-the-art analytical tools to facilitate data-driven dialogue with their counterparties, bringing clarity and transparency to execution performance through the provision of independent data. And according to United Fintech CEO Christian Frahm, FairXchange fits hand-in-glove with United Fintech’s strategy of acquiring state-of-the-art Capital Markets software products ready for scaling and global roll-out on United Fintech’s platform.

https://www.hedgeweek.com/2021/11/23/309601/united-fintech-acquires-trading-analytics-firm-fairxchange

Balderton Capital announces €529 million early-stage fund to back Europe’s next wave of breakout tech

London-based Balderton Capital has raised its second fund of 2021, and their largest-ever fund for early-stage startups, of €529 million. The fund is part of a wider mission to be the leading provider of venture capital and founder support to European startups with global ambitions.
Earlier this year the firm launched an ‘early growth’ fund to invest in future tech giants born in Europe.
Founded 21 years ago, Balderton Capital has made almost 300 investments and has extensive experience backing founders from seed to growth stage across Europe. In 2021, the company has invested in 20 new startups in sectors ranging from reproductive health and instant commerce to data labelling and gaming.

https://www.eu-startups.com/2021/11/balderton-capital-announces-e529-million-early-stage-fund-to-back-europes-next-wave-of-breakout-tech/

South Summit, Madrid

South Summit (Madrid, June 8th-10th, 2022) is a three-day event that supports entrepreneurship and innovation. It is where startups, investors and corporations come together to share ideas, form alliances, and shape the future. This year’s edition of the Startup Competition welcomes projects from any industry, development stage and country. Apply before February 28th to become one of our 100 finalists and get free tickets, a 3min pitch on stage, networking with our partners and investors, media coverage, mentoring, demo stand and more!

Read more (www.southsummit.co/startup-competition) –Apply now (https://cms.southsummit.co/register/2e2x)

Meet us at:

InsurTech Insights Europe, London: 15-16 March 2022 https://www.insurtechinsights.com/europe/

Finovate Europe 2022, London: 22-23 March 2022 https://informaconnect.com/finovateeurope/

South Summit 2022, Madrid: 8-10 June 2022 https://www.southsummit.co/

SuperVentures Berlin: 14-15 June 2022 https://informaconnect.com/superventure/

Digital Insurance Agenda, Amsterdam: 29-30 June 2022 https://next.digitalinsuranceagenda.com/dia-amsterdam-2022/

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Q&As with IDA Ireland and AAZZUR; Early stage European FinTech deals this week include Zilch

Early stage European FinTech deals this week include Zilch

We feature Q&As with Daragh Hanratty of IDA Ireland and Philipp Buschmann of AAZZUR

Check out the 2nd edition of Scaling Enterprise FinTech | The Handbook, launched in partnership with Money20/20 and SixThirty Ventures is out: http://www.fintechforum.de/sef/

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

 
FinTech Forum concludes its first hybrid edition at the Airport Club, Frankfurt

Kicking off with a networking lunch, the event – streamed digitally to participants who could not make it in person – started with Samarth Shekhar, Co-Founder of FinTech Forum, summarising the European FinTech scene’s record funding volumes and deals of note this year. This was followed by the first round of startup presentations (Aazzur, aisot, ALLINDEX and Delega – check out the “startups in a tweet” below). David Schaeffler from Hannover Digital Investments / Talanx and Cynthia Nadal of SeedX Liechtenstein covered the trends to watch in InsurTech and FinTech respectively.
Daragh Hanratty of IDA Ireland provided an overview of how Ireland’s agencies can help leading FinTechs and financial institutions scale, following which we made time for a short coffee break.
The 2nd round of startup presentations (QuickCashAI, Insaas.ai, Vermögensheld and Wequity) set the scene for some interesting discussions around ESG for startups and VC firms to follow.
Ertan Can from Multiple Capital shared a fascinating account of his journey setting up one of the first European Fund of Funds, which has invested into 500 ventures via 30 micro VC funds across Europe and the US.

http://www.fintechforum.de/fintech-forum-concludes-its-first-hybrid-edition-at-the-airport-club-frankfurt/

7 Questions with Daragh Hanratty of IDA Ireland

1. Please tell us a bit about yourself, both at work and leisure.

I am VP for financial Services with IDA Ireland, the state agency responsible for FDI into Ireland. I am based in Frankfurt, have a keen interest in fitness and travel. During lockdown I took up running. I am currently working to improve my times for 5km and 10km park runs

http://www.fintechforum.de/7-questions-with-daragh-hanratty-of-ida-ireland/

7 Questions with Philipp Buschmann of AAZZUR

1. Please tell us a bit about yourself, both at work and leisure.

I am an entrepreneur, a husband and passionate about fintech. At my first job at Razorfish I helped build trading tech for State Street Bank; as a strategy consultant I helped design the portal for online banking at Sparkasse and as an entrepreneur have helped lenders and challenger banks get launched.
My personal passion is cooking and snowboarding. One is good for the head (almost like a meditation) and the other is good at enjoyment and hurting myself on the slopes. These I think are natural Austrian hobbies: eat, drink and ski!

http://www.fintechforum.de/7-questions-with-philipp-buschmann-of-aazzur/


BNPL Zilch Claims Title of Fastest European Firm to Gain Unicorn Status, Raises $110 Million Series C at $2 Billion Valuation

Zilch, a London-based buy now, pay later (BNPL) Fintech, has closed on a $110 million services C funding round at a $2 billion valuation. Zilch last raised money in 2020 at a valuation of “just” $500 million. Zilch is claiming the title of the fastest European company to earn unicorn status. Zilch states that it has “leapfrogged” other high-flying firms to become a double unicorn in just 14 months, faster than any other in the European Union. Zilch says its growth is “unparalleled within the BNPL industry” having increased by 8X since this past March.
The funding round was led by Ventura Capital and Gauss Ventures with numerous other new investors and existing investors participating in the round.
https://www.crowdfundinsider.com/2021/11/182760-bnpl-zilch-claims-title-of-fastest-fintech-to-gain-unicorn-status-raises-110-million-series-c-at-2-billion-valuation/
Founded in 2012, London based Ventura Capital provides investors with exposure to disruptive consumer technology companies that are growing exponentially and approaching IPO. To date, the firm has invested over $750m in 23 pre-IPO companies including Spotify, Paytm, Delos, and Lyft, delivering high returns and building a strong reputation for ‘picking winners’ on behalf of its investors.

Guass Venture specialises in hands-on domain specific investments in fintech and smart industry companies.

Revolut backer Balderton raises $600m for early-stage European startups

British VC firm Balderton Capital, known for backing companies such as Revolut and Depop, has raised its largest early-stage fund ever.
The firm says it will deploy the $600m into 25-30 new companies in the region and is sector agnostic. The average cheque size will be between $1m-$20m.
Balderton has historically been known as one of Europe’s most prolific Series A investors, but has transitioned to a multistage strategy, launching its first later-stage fund earlier this year. The firm has also historically invested opportunistically at the seed stage. (Revolt was a late-seed/early A deal.)

https://sifted.eu/articles/balderton-capital-early-stage-fund/

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

FinTech Forum concludes its 13th (and first hybrid) edition at the Airport Club, Frankfurt

Kicking off with a networking lunch, the event – streamed digitally to participants who could not make it in person – started with Samarth Shekhar, Co-Founder of FinTech Forum, summarising the European FinTech scene’s record funding volumes and deals of note this year.

This was followed by the first round of startup presentations (Aazzur, aisot, ALLINDEX and Delega – check out the “startups in a tweet” below). David Schaeffler from Hannover Digital Investments / Talanx and Cynthia Nadal of SeedX Liechtenstein covered the trends to watch in InsurTech and FinTech respectively.

Daragh Hanratty of IDA Ireland provided an overview of how Ireland’s agencies can help leading FinTechs and financial institutions scale, following which we made time for a short coffee break.

The 2nd round of startup presentations (QuickCashAI, Insaas.ai, Vermögensheld and Wequity) set the scene for some interesting discussions around ESG for startups and VC firms to follow.

Ertan Can from Multiple Capital shared a fascinating account of his journey setting up one of the first European Fund of Funds, which has invested into 500 ventures via 30 micro VC funds across Europe and the US.

Theresa Bardubitzki of KfW Capital brought the ESG topic front and centre, sharing key results from the recently published study of BCG and KfW Capital, the regulatory pressure that is driving alignment to ESG across LPs, GPs and startups, as well as providing answers to practical questions from the audience.

The final session was a panel discussion conducted virtually with San Francisco-based May Wang of FinVC and Zürich-based Semih Kacan of Swisscom Ventures, who shared their key themes and opportunity areas to watch and invest in – including B2B players assisting the move to the cloud and remote working; B2B startups supporting other FinTech startups to connect to other parts of the financial services landscape as well as to the cloud; and the rise of DeFi, NFT, Cryptocurrencies and Web 3.0.

The event concluded with Frank Schwab, Co-Founder of FinTech Forum, bringing together the audience on some of the concrete insights and next steps from the discussions around ESG through the day, followed by a networking session.

Check out some photos and social media updates from the event below.

Startup Pitches – Round 1

AAZZUR Create fully-customised and branded mobile banking apps within just 6 to 10 weeks using their Smart Finance Blocks.

aisot real-time insights for trading and asset management for data-driven decision-making.

ALLINDEX SaaS solution helping asset managers, banks etc. create and back-test direct indexing solutions tailored to themes (e.g. ESG) or tax savings.

Delega Helps corporates and their banks digitise and manage signatory rights via an end-to-end workflow solution.

Startup Pitches – Round 2

QuickCashAI SaaS platform for 20x faster AI-driven, paperless SME lending automation and credit risk assessment.

Insaas.ai next generation market research to understand consumers and power personalised financial services.

Vermögensheld gaming-driven financial education and wealth advice “as a service” for the digital generation.

Wequity “be the first to know the ESG risks of your investments” – real-time AI-powered insights from news & social media.

 

astorya.vc Retweeted a Tweet you were mentioned in

Excited to be back in Frankfurt for the 2021 @FinTechForum_DE I will be speaking at 16:00, sharing the #openbanking #baas #intuitivebanking #iaas model @Aazzur_ has to offer. #buildsmartbanking @MartinDamaske @rrrrunger @FrankJSchwab https://pic.twitter.com/AKHipDw23u

Maria Pennanen@PennanenMaria 20h

Great crowd, interesting startups = overall amazing event! Thank you

@FrankJSchwab & @SamarthShekharS @FinTechForum_DE #FTF2021 #startup #investing #funding

Accelerator Frankfurt @accelerator_ffm 22h

It’s #live #FTF2021 @SamarthShekharS presenting the crazy #investment boom of this year! Seed #funding is hit topic apart of the big #unicorn rounds. #startup #seed #3D

Lukas Sieber liked your Tweet

Countdown to next Thursday, 18th Nov. as FinTech Forum returns to its physical roots – the Airport Club Frankfurt – where @FrankJSchwab and I have had the privilege of hosting European FinTech success stories at their earliest stages (and their investors)…https://lnkd.in/dXyK2Xmw
Enjoyable being back FinTech Forum Airport Club Frankfurtafter a 2 year absence. Thanks Frank Schwab and Samarth Shekhar for the opportunity to speak about the fintech ecosystem in Ireland and how IDA supports companies to setup or expand in Ireland.

https://www.linkedin.com/posts/daragh-hanratty-17347917_sustainability-ai-mlearning-activity-6867404846580944896-DNyJ

 

 

 

 

 

 

 

 

 

 

 

 

Register for FinTech Forum: 18-Nov-2021; Q&As with RGAX,9fin; funding for Moralis and Viceversa

Meet and hear from the startups, investors and financial institutions behind “what’s next in European FinTech” – on 18th November, FinTech Forum returns to the Airport Club, Frankfurt. Check out the line-up and register here.

Early stage European FinTech deals this week include Moralis and Viceversa

We feature Q&As with Karim Rabbani of RGAX and Hussam EL-Sheikh of 9fin.

Check out the 2nd edition of Scaling Enterprise FinTech | The Handbook, launched in partnership with Money20/20 and SixThirty Ventures, and featuring Q&As with the founders and investors behind Europe’s leading B2B / SaaS FinTech scale-ups?  http://www.fintechforum.de/sef/

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

7 Questions with Karim Rabbani of RGAX

1.Please tell us a bit about yourself, both at work and leisure.

I’m a Senior Analyst in the Ventures & Acquisitions team of RGAX, based out of Amsterdam. RGAX is the transformation engine of RGA, promoting and accelerating innovation within the Life and Health insurance sectors by means of organic and inorganic initiatives. RGA is one of the largest global life and health reinsurance companies.

I joined the organization in 2018 to support the EMEA region on deal sourcing activities, executing partnerships and managing our portfolio of 30+ startups globally.

Prior to joining RGAX I worked in Corporate Banking at ABN AMRO and in Port Logistics at the Port of Rotterdam. I hold a Master Degree in Business Management from Cass Business School in London and a Corporate Communication’s Master from the University of Amsterdam.

Personally, I enjoy travelling and experiencing new cultures. I’m also a sports fan and play soccer and squash. In addition, I volunteer for a foundation that promotes dialogue and understanding between the Arab World and Europe through education.

http://www.fintechforum.de/7-questions-with-karim-rabbani-of-rgax/

7 Questions with Hussam EL-Sheikh of 9fin

1. Please tell us a bit about yourself, both at work and leisure.

Hey I’m Huss, CTO & Co-founder of 9fin. I think I’d describe myself as an engineer in every sense of the word. So, via a degree in Aerospace Engineering, taking apart my siblings’ toys as a child, learning programming at school from age 12, I find myself now running a technology startup serving up news, data and analysis to the financial markets. I love Formula 1, and it’s been a very stressful (but exciting) 2021 championship this year. I’m trying to get better at badminton after taking it up for the first time a couple of years ago… At least my height lets me get away with not being any good yet!

http://www.fintechforum.de/7-questions-with-hussam-el-sheikh-of-9fin/

Decentralised app making tool ​​Moralis raises $13.4 million via EQT Ventures

Stockholm-based blockchain development platform Moralis has secured $13.4 million in seed funding via EQT Ventures. The Swedish startup helps developers build and scale decentralised apps (dApps) without a tremendous amount of cost or complexity. The team reports that the funding will be used to continue product development, as well as make key hires across the board. Moralis was founded in 2020 by Ivan Liljeqvist (CEO) and Filip Martinsson (COO) and has been live since June of this year. Both founders have deep experience in the blockchain world, with Ivan running the 450,000+ subscribers YouTube channel, Ivan on Tech, the duo has trained more than 30,000 students via the Ivan on Tech Blockchain Academy.

https://tech.eu/brief/decentralised-app-making-tool-%E2%80%8B%E2%80%8Bmoralis-raises-13-4-million-via-eqt-ventures/

Italy’s Viceversa secures €23M seed round

Revenue-based financing provider Viceversa has raised a €23 million round that consists of €3 million in equity and €20 million in debt financing, Tech.eu reported. Fasanara Capital and Fabrick reportedly provided the capital for the Milan-based startup, with participation from several angel investors.

https://pitchbook.com/newsletter/italys-viceversa-secures-23m-seed-round

Nauta Capital Closes Fifth Venture Capital Fund, at €190M

Nauta Capital, a pan-European Venture Capital firm investing in capital-efficient B2B software companies, closed its fifth fund, at €190M.  

With a €120M first closed announced in 2020, the fund’s final close brings the firm’s assets under management to €550+M.  Limited Partners include institutions across Europe, Asia, and the Americas. The vast majority of Limited Partners joining the fund are private institutions with strategic interest in fund’s B2B focus as well as Family Offices with links to corporations aligned with the fund’s investment thesis. Among these are Netherlands based European Family Office Merifin Capital and the private markets division of the Spain based giant BBVA Asset Management.  The fund has also had backing from leading investors such as British Patient Capital, ICO, the European Investment Fund, ICF, and Germany-based KfW Capital.

https://www.finsmes.com/2021/11/nauta-capital-closes-fifth-venture-caputal-fund-at-e190m.html

Meet us at:

South Summit Health & Wellness, 3-4 Nov. 2021, Valencia

SuperReturn International, 9-12 Nov. 2021, Berlin

FinTech Forum, 18 Nov. 2021, Frankfurt

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

 

 

 

 

7 Questions with Hussam EL-Sheikh of 9fin

1. Please tell us a bit about yourself, both at work and leisure.

Hey I’m Huss, CTO & Co-founder of 9fin. I think I’d describe myself as an engineer in every sense of the word. So, via a degree in Aerospace Engineering, taking apart my siblings’ toys as a child, learning programming at school from age 12, I find myself now running a technology startup serving up news, data and analysis to the financial markets. I love Formula 1, and it’s been a very stressful (but exciting) 2021 championship this year. I’m trying to get better at badminton after taking it up for the first time a couple of years ago… At least my height lets me get away with not being any good yet!

2. Which product or service do you offer, and who are your competitors?

When a company chooses to raise financing by borrowing money, they may choose to do this via the Debt Capital Markets. There are many moving parts and many players in that process, who all want and need different things.

9fin provides a specialist market intelligence platform covering European Leveraged Finance. Across High Yield Bonds, Leveraged Loans, CLOs, Restructurings and Insolvencies. Our clients are Sell-Side and Buy-Side firms, Restructuring Advisers, Distressed Hedge Funds and Law Firms. Providing everything investors need to analyse an investment, giving traders an edge with breaking news alerts and arming Investment Banks with deep data & analytics to help them pitch and win deal mandates.

I’d say there are not many peers to our all in one platform for Leveraged Finance, combining many aspects of more generalist larger market data providers. We’re expanding to the US and are always adding to our product lines.

3. How did you get the business idea and take it from launch to the first customers?

This is where I introduce my friend of 10 years, housemate of 6 years and co-founder of 5 years, Steven. If you’re doing your maths right, yes… this does mean there was a period where we were in the same house while founding the same company! During that time, both of us and our third housemate Tom, would always vent about the less than ideal technology experiences within our day jobs. All of us were at Investment Banks at the time, experiencing awful software tools, forever delayed projects, archaic red tape or simply just a lack of any modern technology at all.

So the kernel of the idea that Debt Capital Markets, especially Leveraged Finance, operated like it was still in the 1980s and that it was in need of modernisation was directly from Steven’s own experiences. After years of not doing anything about it, I guess we got convinced… so I decided to quit my job and join the party to start 9fin.

4. How have you financed your startup? Any lessons would you like to share from the fund-raising journey?

We have had quite a “typical” series of Venture Capital investment rounds, but that shouldn’t make it sound like it was all a walk in the park! We had to explain the mechanics of the complex leveraged finance market many many times over, to then even be able to get to laying out the vision we had of a new global financial data and technology platform.

So my advice is to not be put off by the inevitable setbacks you’ll face, fundraising is a process and it has to run its course. It is at the same time the most orchestrated, methodical and planned operation while also being totally random. Talking to other founders has always been helpful, whether to be a sounding board or to just vent. So do make the effort to maintain those relationships, it’s easy to let slip when you’re no longer all in the same co-working space. Just keep going, and good luck!

5. What’s your ask/ how could our network help you in the next 6-12 months?

Any connections to Sell-Side and Buy-Side firms, Restructuring Advisers, Distressed Hedge Funds and Law Firms operating in Leveraged Finance in Europe or the US are most welcome!

6. Which key trends and opportunities should we be watching in (European) finance?

Europe is naturally going to be fruitful grounds for technologies and innovation in Capital Markets. Every country has its own financial centers, as well as being within the wider continental financial ecosystem at the same time too. We’re almost forced to relentlessly use technology, as it’s the only way to enable all the collaboration and interconnection required to make it all work.

I think it’s a really exciting time! 3-4 years ago, when you heard the word “fintech” it was taken to mean retail banking apps or maybe neo insurance apps. But now there are a growing number of fintechs who are very much in the Capital Markets technology space. That is, technology for core Investment Banking, Market Trading, Capital Raising and Capital Allocation functions. Many of the traditional ways of doing Banking are broken: human intensive manual processes (analyst burnout is real), paper/powerpoint/excel based processes, lack of data driven decision making and overall legacy technology from the 1980/90s. Yes, some firms have already been going for a decade plus, but there are a lot of new startups doing new things to address all of these problems.

7. What’s on your bookshelf/ reading list, and your favorite place for a coffee or a drink?

I’m very bad at reading fiction! So for that escapism, I usually turn to a screen. Movies, a Series or Documentaries. I really enjoyed reading “Crossing the Chasm” – Geoffrey Moore, that really helped me understand the process of selling to very large enterprise customers. “An Astronaut’s Guide to Life on Earth”’ – Chris Hadfield, was also a great motivational book on just simply getting your head down and working hard toward your goals.

Unlimited Chai at the end of a meal at Dishoom in Kings Cross is always a winner in my book.

7 Questions with Karim Rabbani of RGAX

1. Please tell us a bit about yourself, both at work and leisure.

I’m a Senior Analyst in the Ventures & Acquisitions team of RGAX, based out of Amsterdam. RGAX is the transformation engine of RGA, promoting and accelerating innovation within the Life and Health insurance sectors by means of organic and inorganic initiatives. RGA is one of the largest global life and health reinsurance companies.

I joined the organization in 2018 to support the EMEA region on deal sourcing activities, executing partnerships and managing our portfolio of 30+ startups globally.

Prior to joining RGAX I worked in Corporate Banking at ABN AMRO and in Port Logistics at the Port of Rotterdam. I hold a Master Degree in Business Management from Cass Business School in London and a Corporate Communication’s Master from the University of Amsterdam.

Personally, I enjoy travelling and experiencing new cultures. I’m also a sports fan and play soccer and squash. In addition, I volunteer for a foundation that promotes dialogue and understanding between the Arab World and Europe through education.

2.What are your focus areas, overall and within the (B2B) FinTech / InsurTech space?

As an investor, RGAX operates similar to a Corporate Venture Capital Fund with a strategic investment approach. Therefore, the investments and partnerships that we enter into are aimed at solving pain points and pursuing growth of our core business and that of our clients within the Life and Health (Re)insurance sectors.

3.Any recent deals that you would like to share with us, and why you invested or partnered?

We invest and partner to accelerate industry innovation and to help solve specific client challenges. On the global network page of our website (www.rgax.com), we showcase many of our current portfolio companies as well as those we actively partner with to bring transformative solutions to the life and health (Re)insurance industry.

4.What does it take to get to Series A today?

Prior to reaching Series A funding, startups should be creating, testing and validating a product or service that solves a real-life problem. To get to Series A (and beyond) companies will build upon that foundation and have a ‘market-ready’ product that allows them to differentiate themselves from their competitors, deliver on their strategy and demonstrate a path towards scaling revenue. Focusing on delivering excellence for the core business first will then allow you to provide additional customer value, focus on your internal organization and provide a strong base to develop partnership and attract investments. Being able to show traction with your target users is essential.

In addition, people and company culture are key to the success of businesses and to get to Series A, a startup needs a strong and balanced team that can execute, convey their message in a clear and simple manner and are open to working with others. In fact, the startup’s core team is usually the first aspect we look at when considering a startup partnership.

5.Which are the trends to watch out for in Europe/ EMEA in the next 6-18 months?

I’m looking forward to keeping an eye out for increased vertical integration by Insurtechs as the industry matures. In the coming 6-18 months, I expect startups that are currently operating as facilitators and intermediaries to further develop end-to-end solutions. We have witnessed this trend take place in the larger FinTech space and have already seen several Brokers and Managing General Agents pivot to becoming full-stack Insurance carriers. I expect this to be something to track in EMEA in the near future.

Other trends worth mentioning specific to Life and Health, are startups exploring new distribution channels through embedded insurance as well as a growing focus on Environmental, Social, and Governance (ESG) efforts by startups.

6.What should startups expect or plan for in the coming months?

Over the last year we have seen multiple record quarters with Insurtech funding reaching an all-time high, both in terms of volume of deals as well as total capital raised. In addition to the later stage ‘mega-rounds’ raised, we are seeing an increase in early stage investments and more people choosing to work in or form new startups, indicating that this trend isn’t slowing down any time soon.

Startups can expect an increasing amount of capital available to be deployed in the Insurtech space, with global growth in the number of venture funds and dry powder available for investment. Despite funding being more easily available, it is extremely important that a startup chooses a partner that fits them, not only from a financial perspective but from a strategic and cultural perspective as well.

Finally, given ESG developments and public interest, we should expect new initiatives that are further aligned with these principles.

7.Your favorite place for a coffee and/ or a drink?

One of my favorite places for a coffee is a café called Kaafi in the city center of The Hague. Primarily because they have great coffee, nice atmosphere and an interesting and seasonal brunch menu – highly recommend if you are ever in town. Reach out to me – would be happy to meet you there and tell you more about what we are doing!

 

Register for FinTech Forum: 18-Nov-2021; Q&As with SeedX, Allindex; funding for Yokoy and Moonfare

Meet and hear from the startups, investors and financial institutions behind “what’s next in European FinTech” – on 18th November, FinTech Forum returns to the Airport Club, Frankfurt. Check out the line-up and register here.

Early stage European FinTech deals this week include Yokoy and Moonfare.

We feature Q&As with Cynthia Nadal of SeedX Liechtenstein and Christian Kronseder of Allindex.

Apply / register for the FinTech Forum 2021 on 18th Nov. at the Airport Club, Frankfurt) here.

Check out the 2nd edition of Scaling Enterprise FinTech | The Handbook, launched in partnership with Money20/20 and SixThirty Ventures is out: http://www.fintechforum.de/sef/

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

7 Questions with Cynthia Nadal of SeedX Liechtenstein

1. Please tell us a bit about yourself, both at work and leisure.

My name is Cynthia, I am a Partner at Seed X Liechtenstein. I am an operator turned investor and I have previously worked with different accelerators including Techstars, King’s College and Founders Factory in London. Prior to being an investor I have worked for 11+ years at the fintech unicorn Markit (Now IHS markit, being bought by S&P). I learned there everything I know about great product development, corporate innovation and the hurdles of fast growth (IPO on the NASDAQ in 2014 at $5bn valuation, merger with IHS in 2016, now worth more than $40bn).
Work-wise I like connecting the dots and people, understanding the big problems needing solving and who we can learn from. Having the right network also helps to support founders in their growth.

http://www.fintechforum.de/7-questions-with-cynthia-nadal-of-seedx/

Cynthia is among the investors on stage at the FinTech Forum event on 18th Nov. 2021 at the Airport Club, Frankfurt: check out the line-up and register here.

7 Questions with Christian Kronseder of Allindex.

1.Please tell us a bit about yourself, both at work and leisure.

Work: Before starting ALLINDEX, I was global COO of STOXX and Head of Markets at Royal Bank of Scotland, Switzerland. I have a professorship for data science which is a synergetic activity also for building our FinTech.
Leisure: I live in Switzerland and hence very much enjoy the hiking and skiing opportunities, spending my free time with my family.

http://www.fintechforum.de/7-questions-with-christian-kronseder-ceo-of-allindex/

Yokoy Raises $26M in Series A Funding

Yokoy, a Zurich, Switzerland-based provider of a spend management platform, raised $26M in Series A funding.
The round was led by Left Lane Capital with participation from European investor, Balderton Capital.
The company intends to use the funds to expand operations, accelerate growth into the US, Europe and more regions across the globe, and further enhance the technologies underpinning the platform.
Founded in 2019 and led by CEO Philippe Sahli, CTO Dr Devis Lussi, CCO Lars Mangelsdorf, CMO Melanie Gabriel, and CFO Thomas Inhelder, Yokoy is a fintech platform that provides an AI-based full spend management suite for midsize and enterprise companies. By combining automation, API integrations and machine learning developed in its own research lab, the company offers expense management, supplier invoice management and corporate credit cards in a single tool. All underpinned by security and stability.

https://www.finsmes.com/2021/10/yokoy-raises-26m-in-series-a-funding.html

Berlin-based fintech Moonfare raises 110 million euros

The Berlin-based startup has raised the equivalent of almost 110 million euros (125 million dollars) in a Series C financing round. This brings the total funding of the company, which was founded in 2015, to around 160 million euros (185 million dollars). The investment is led by New York-based private equity firm Insight Partners. Fidelity, a US asset manager and existing investor, is also participating in this round.

The valuation of the startup is thus estimated at around half a billion euros, as Finance Forward reports. With the recently raised money, Moonfare wants to expand its international business and expand its investment offering.

The fintech is a digital asset manager that does not invest its clients’ money in stocks or ETFs, but in so-called private equity funds (PE funds). Normally, investments in such funds are reserved for particularly wealthy persons or institutions, as you can only participate from a million euros. With Moonfare, the entry hurdle is not so high, so investors should be able to participate with a minimum investment sum of 50,000 euros.

https://www.businessinsider.de/gruenderszene/fintech/geldanlage-moonfare-finanzierung/?utm_source=rss&utm_medium=rss&utm_campaign=geldanlage-moonfare-finanzierung

7RIDGE to acquire US FinTech group Trading Technologies

The acquisition, backed by Cboe and Singapore Exchange, will help drive Trading Technologies’ organic growth.

Trading Technologies has agreed to be acquired by 7RIDGE, the private equity fund owned by former Deutsche Börse chief Carsten Kengeter.

As part of the acquisition, 7RIDGE will help drive the organic growth of Trading Technologies, a Chicago-based trading technology provider, and help with future strategic acquisitions moving forward.

Global exchanges Cboe and Singapore Exchange (SGX) are amongst a group of limited partners of the fund managed by 7RIDGE and have shown support for the transaction.

https://www.thetradenews.com/7ridge-to-acquire-us-fintech-group-trading-technologies/

Accenture Acquires BCS Consulting to Enhance its UK Financial Services Consulting, Tech Solutions Business

Accenture (NYSE: ACN) has reportedly acquired BCS Consulting, a UK-based management consultancy that provides complex business change for financial services companies.
With head offices in London, BCS Consulting’s 250 strong team joins Accenture’s U.K. Financial Services Strategy and Consulting practice, the announcement noted while adding that the terms of the deal have not been disclosed.
Established in 2001, BCS Consulting focuses on driving change programs for the UK’s financial services companies across tech, finance, operations, and risk and regulation.
Its industry advisory expertise and experience in key areas such as payments, open banking, operational resilience, financial crime and cost optimization, “complements and strengthens Accenture’s existing industry consulting and technology capabilities,” the update noted.

https://www.crowdfundinsider.com/2021/10/182266-accenture-acquires-bcs-consulting-to-enhance-its-uk-financial-services-consulting-tech-solutions-business/

 

Meet us at:

Web Summit, 1-4 Nov. 2021, Lisbon
SuperReturn International, 9-12 Nov. 2021, Berlin
FinTech Forum, 18 Nov. 2021, Frankfurt

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

 

 

7 Questions with Christian Kronseder, CEO of ALLINDEX

ALLINDEX is among the startups selected to present  at the FinTech Forum event on 18th Nov. 2021 at the Airport Club, Frankfurt: check out the line-up and register here.

1. Please tell us a bit about yourself, both at work and leisure.

Work: Before starting ALLINDEX, I was global COO of STOXX and Head of Markets at Royal Bank of Scotland, Switzerland. I have a professorship for data science which is a synergetic activity also for building our FinTech.

Leisure: I live in Switzerland and hence very much enjoy the hiking and skiing opportunities, spending my free time with my family.

2. Which product or service do you offer, and who are your competitors?

Our platform allows investors across segments to build customized indices and portfolios. Our indirect competition are providers of active and passive investment products whom we are disrupting but also enabling with direct indexing – helping them to provide a more holistic offering to their clients. Our immediate competition are direct indexing providers, most of them sitting in the US. Our edge over them is our open-architecture platform where clients can directly interface with service providers and co-create products, our cross-asset approach which apart from equities includes fixed income and digital assets as well as our machine learning capabilities that allow thematic index creation at scale.

3. How did you get the business idea and take it from launch to the first customers?

The idea emerged based on the background of our founding team which comes from structured products, indexing and asset management. We have successfully launched client-interfacing platforms in trading and structured products in our corporate careers, the lessons of which we took to heart when creating ALLINDEX. Our ex-BlackRock CIO Chairman on the other hand, built a multi-asset franchise with Larry Fink and gave us the impetus to widen our scope to be the first cross-asset direct indexing company, which turned out to be a great move.

4. How have you financed your startup? Any lessons you would like to share from the fund-raising journey?

We have raised money from business angels who come from financial services, understand our business case and believe in our vision. Apart from their financial contribution they made value-adding introductions. Our philosophy is to continue building this network of partners that help us to create value. Other (former) senior executives and experts have introduced relevant people to us without expecting anything in return. They like our approach and want to see us succeed.

5. Which are the key trends and opportunities in (European) financial services?

We see the biggest opportunity in direct indexing, where Europe is lagging behind the US,  where this trend started. Active Management has been disrupted by passive products, now those products are being disrupted by direct indexing. It is the perfect mix between a passive approach where portfolios don’t need to be actively managed on an ongoing basis but with active choices that investors can make, based on their convictions and investment policies  (e.g. ESG criteria, religious views, etc.). We see this trend becoming increasingly relevant across client segments and are among the first ones globally who are taking it all the way to the retail investor.

 6. What’s on your bookshelf/ reading list?

Literature from the beginning of the 20th century from authors such as Stefan Zweig and Robert Musil

7. Your favorite place for a coffee and/ or a drink?

Having an apéro in my garden with my family

Register for FinTech Forum: 18-Nov-2021; Q&As with SeedX Liechtenstein, AAZZUR, and Billender; funding for Kevin., Multiverse Computing, Resistant AI, Primer,Billie

Meet and hear from the startups, investors and financial institutions behind “what’s next in European FinTech” – on 18th November, FinTech Forum returns to the Airport Club, Frankfurt. Check out the line-up and register

Early stage European FinTech deals this week include  Kevin., Multiverse Computing, Resistant AI, Primer,Billie.

We feature Q&As with Cynthia Nadal of SeedX Liechtenstein, Philipp Buschmann of AAZZUR, and Harald Axelius of Billender.

Apply / register for the FinTech Forum 2021 on 18th Nov. at the Airport Club, Frankfurt) here.

Check out the 2nd edition of Scaling Enterprise FinTech | The Handbook, launched in partnership with Money20/20 and SixThirty Ventures is out: http://www.fintechforum.de/sef/

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Q&A with Cynthia Nadal of SeedX Liechtenstein

1.Please tell us a bit about yourself, both at work and leisure.

My name is Cynthia, I am a Partner at Seed X Liechtenstein. I am an operator turned investor and I have previously worked with different accelerators including Techstars, King’s College and Founders Factory in London. Prior to being an investor I have worked for 11+ years at the fintech unicorn Markit (Now IHS markit, being bought by S&P). I learned there everything I know about great product development, corporate innovation and the hurdles of fast growth (IPO on the NASDAQ in 2014 at $5bn valuation, merger with IHS in 2016, now worth more than $40bn).
Work-wise I like connecting the dots and people, understanding the big problems needing solving and who we can learn from. Having the right network also helps to support founders in their growth.

http://www.fintechforum.de/7-questions-with-cynthia-nadal-of-seedx/

Cynthia is among the investors on stage at the FinTech Forum event on 18th Nov. 2021 at the Airport Club, Frankfurt: check out the line-up and register here.

Q&A with Philipp Buschmann of AAZZUR

1.Please tell us a bit about yourself, both at work and leisure.

I am an entrepreneur, a husband and passionate about fintech. At my first job at Razorfish I helped build trading tech for State Street Bank; as a strategy consultant I helped design the portal for online banking at Sparkasse and as an entrepreneur have helped lenders and challenger banks get launched.
My personal passion is cooking and snowboarding. One is good for the head (almost like a meditation) and the other is good at enjoyment and hurting myself on the slopes. These I think are natural Austrian hobbies: eat, drink and ski!

http://www.fintechforum.de/7-questions-with-philipp-buschmann-of-aazzur/

AAZZUR is among the startups selected to present at the FinTech Forum event on 18th Nov. 2021 at the Airport Club, Frankfurt: check out the line-up and register here.

Q&A with Harald Axelius of Billender

1. Please tell us a bit about yourself, both at work and leisure.

Billender is the first buy now-pay later solution for paying bills. You simply snap a pic, you can pay any bill in seconds with a variety of flexible payment options. Billender simplifies payment of bills while giving the user a better overview of their personal finance. With services like Klarna, Affirm, Afterpay etc, consumers today are used to having access to all types of payment options, including flexible credits any time they want to purchase something. Billender applies the same model for paying bills. Before I started Billender, I was involved as an angel investor, chairman of the board and many other different roles at Savelend, Sweden’s largest peer-to-peer platform. I have a Master of Laws (LLM) but always worked in tech. I currently reside in Stockholm, Sweden and Marbella, Spain with my girlfriend Jenny. When I’m not working I enjoy taking 20 minute meditation naps with noise cancellation earphones or watching Youtube videos about the construction of different “mega projects” around the world.

http://www.fintechforum.de/7-questions-with-harald-axelius-of-billender/

kevin., a Lithuanian Fintech, Celebrates $10M Seed Round

kevin., a Lithuanian Fintech startup providing payment infrastructure for online, mobile, and physical sales, has secured $10 million of new capital in a seed funding round. The investment, which brings the company’s total capital raised to $14 million, was co-led by OTB Ventures and Speedinvest, two of Europe’s leading venture capital investors in early-stage European technology companies. Also joining the funding round were OpenOcean, Javier Perez’s Global PayTech Ventures, and individuals including AmRest founder Henry McGovern.

kevin.’s advanced A2A (account-to-account) payment infrastructure solution was created to change card payments to payments linked directly from customers’ bank accounts without using any third-party providers. The technology scales to businesses of any size and across industries, including retail, parking, fashion, car-sharing, deliveries, and insurance. kevin. focuses on mobile and POS payments where customers predominantly pay using cards. Its payment infrastructure is based on open banking – regulated by the European PSD2 Directive – which requires all banks and financial institutions in the European Economic Area to open their API for licensed third-party providers. kevin. develops only its own connections to the banks without using any third-party aggregators.

https://www.crowdfundinsider.com/2021/10/182005-kevin-a-lithuanian-fintech-celebrates-10m-seed-round/

Multiverse Computing Closes €10M Seed Funding Round

Multiverse Computing, a San Sebastian, Spain-based quantum computing startup dedicated to finance, closed a seed funding round of €10m (USD $11.55m).
The round was led by JME Ventures and also included Quantonation, EASO Ventures, Inveready, CLAVE Capital (Mondragón Fondo de Promoción), Ikerlan, LKS, Penja Strategy, Seed Gipuzkoa and Ezten Venture Capital Fund.
The company intends to use the funds to consolidate growth and globalization strategy as well continue to advance its technology and marketing, to gradually enter into new markets such as energy, mobility and smart manufacturing.

https://www.finsmes.com/2021/10/multiverse-computing-closes-e10m-seed-funding-round.html

Resistant AI scores $16.6M for its anti-fraud fintech tools

Resistant AI, which uses artificial intelligence to help financial services companies combat fraud and financial crime — selling tools to protect credit risk scoring models, payment systems, customer onboarding and more — has closed $16.6 million in Series A funding.
GV (formerly Google Ventures) led the round, with participation from existing investors Index Ventures (led by partner Jan Hammer), Credo Ventures (led by Ondrej Bartos and Vladislav Jez) and Seedcamp, plus several unnamed angel investors specializing in financial technology and security.
The 2019-founded, Prague-based startup says the funding will be used to meet rising demand from global financial institutions, including by building out its product, engineering and sales operations teams beyond its existing footprint — which also includes offices in London and New York.

https://finance.yahoo.com/news/resistant-ai-scores-16-6m-134554268.html

London FinTech Primer Raises $50M

FinTech payments startup Primer raised $50 million from ICONIQ Capital, the wealth manager of technology billionaires like Mark Zuckerberg and Jack Dorsey. Other backers included Balderton Capital, RTP Global, Seedcamp, Speedinvest and Accel.

Headquartered in London and founded in 2020 by Gabriel Le Roux and Paul Anthony, both former employees of PayPal, Primer offers end-to-end payments infrastructure that works with multiple payment methods, including buy now pay later (BNPL). The startup has a workforce of 70 people across 20 countries and is now valued at $425 million.

https://www.pymnts.com/news/investment-tracker/2021/london-fintech-primer-raises-50m/

Berlin based BNPL Billie Raises $100 Million at $640 Million Valuation

Berlin-based BNPL (Buy Now Pay Later) Billie has raised $100 million at a $640 million valuation according to a note from the Fintech. Simultaneously, Billie said it had received refinancing lines of $200 million per month. The capital will be provided by a consortium of German banks led by VVRB (Vereinigte Volksbank Raiffeisenbank eG) with participation from Raisin Bank and Varengold Bank.

The funding round was led by Dawn Capital, a firm with a Fintech portfolio that includes Tink, iZettle, Soldo, and Copper.

Other investors include Klarna and Tencent, alongside existing investors Creandum, Speedinvest, Picus and GFC.

Billie states that this funding round is the world’s largest to date in the B2B BNPL market.

Billie is a payment method for businesses, offering B2B companies digital payment services. Billie allows companies to pay and get paid on their own terms through modern checkout solutions. Based on proprietary, machine-learning-supported risk models, Billie offers fast liquidity, automated workflows, and access to modern payment solutions. Billie was founded in 2016 by the former founders of Zencap (Exit to Funding Circle). Billie is based in Berlin and employs over 130 people from over 35 countries.

https://www.crowdfundinsider.com/2021/10/182104-berlin-based-bnpl-billie-raises-100-million-at-640-million-valuation/

Private equity buys into Italian fintech TAS Group, launches bid
Italian fintech company TAS Group said on Thursday a vehicle controlled by European private equity firm Gilde would launch a takeover bid for its shares at 2.2 euros each after taking control of its top shareholder.

Gilde Buy Out Partners aims to delist TAS Group from the Milan Stock Exchange. It agreed to acquire OWL, that controls 73.2% of TAS Group, valuing the stake 134.5 million euros ($156.61 million).

Shares in TAS, which develops software for payments and banking, jumped 4.85% to 2.16 euros at 0810 GMT on the Milan Stock Exchange.

https://www.reuters.com/technology/private-equity-buys-into-italian-fintech-tas-group-launches-bid-2021-10-21/

Meet us at:

Web Summit, 1-4 Nov. 2021, Lisbon
SuperReturn International, 9-12 Nov. 2021, Berlin
FinTech Forum, 18 Nov. 2021, Frankfurt

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

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7 Questions with Philipp Buschmann of AAZZUR

AAZZUR is among the startups selected to present  at the FinTech Forum event on 18th Nov. 2021 at the Airport Club, Frankfurt: check out the line-up and register here.


1.Please tell us a bit about yourself, both at work and leisure.

I am an entrepreneur, a husband and passionate about fintech. At my first job at Razorfish I helped build trading tech for State Street Bank; as a strategy consultant I helped design the portal for online banking at Sparkasse and as an entrepreneur have helped lenders and challenger banks get launched.

My personal passion is cooking and snowboarding. One is good for the head (almost like a meditation) and the other is good at enjoyment and hurting myself on the slopes. These I think are natural Austrian hobbies: eat, drink and ski!

2.Which product or service do you offer, and who are your competitors?

We are BaaS Integrators on a B2B2X SaaS basis. We connect API fintech and insurance services to our platform and ship smart banking blocks. What is that? Functional modules of banking tech (like a balance or an insurance or a transaction list) that you can combine like lego-blocks to build or augment financial services in record time.

Think of it as embedded finance with intelligence.

We enable challenger banking and we have working on a product matching engine to leverage the transactional knowledge into superior financial behavior and cross selling of financial products. If we can see you are going skiing for example there are a number of financial services like sport insurance or concierge services to book the right restaurants on the slopes that we can offer to the end customers.

The biggest competitor is to build it yourself, there are other shops out there that are BaaSi’s but there are only about 4-5 in Europe and it’s a new industry making front-end tech scalable.

3.How did you get the business idea and take it from launch to the first customers?

We wanted to build a challenger bank and figured out how to monetize this business model and how to build them much more rapidly and in a modular basis. We learned we are really good at tech but not B2C marketing in the setup we had and pivoted to become an enabler in this space.

4.How have you financed your startup? Any lessons would you like to share from the fund-raising journey?

Always be fund raising. We have raised over 2 million in four stages:

  • Founder
  • F&F
  • Angels
  • VC’s & Institutional early seed

Its not as neat as the list suggests since we did mostly rolling rounds except the last one which was roughly $1m

I love to quote a good friend of mine on this topic: It’s all sh*t, until its great and then its sh*t again.

People try to solve this nightmare of constant pressure and constant raising, but its part of the job and I love it.

5.Which are the key trends and opportunities in (European) financial services?

Hyper-specialised services in all fields and now (where we are)

Scalable front-end re-integration to bundle these specialist services into functioning products

6.What’s on your bookshelf/ reading list?

  • The hard thing about hard things.
  • From 0 to 1
  • Master and Margarita (if I ever get to it)

7.Your favorite place for a coffee and/ or a drink?

My favorite grown up drink is an old fashioned based on Makers Mark … in the Dorchester Hotel Bar in London

My favorite coffee is the one my beautiful wife brings me in the morning on weekends.

7 Questions with Cynthia Nadal of SeedX Liechtenstein

Cynthia is among the investors on stage at the FinTech Forum event on 18th Nov. 2021 at the Airport Club, Frankfurt: check out the line-up and register here.

1.Please tell us a bit about yourself, both at work and leisure.

My name is Cynthia, I am a Partner at Seed X Liechtenstein. I am an operator turned investor and I have previously worked with different accelerators including Techstars, King’s College and Founders Factory in London. Prior to being an investor I have worked for 11+ years at the fintech unicorn Markit (Now IHS markit, being bought by S&P). I learned there everything I know about great product development, corporate innovation and the hurdles of fast growth (IPO on the NASDAQ in 2014 at $5bn valuation, merger with IHS in 2016, now worth more than $40bn).

Work-wise I like connecting the dots and people, understanding the big problems needing solving and who we can learn from. Having the right network also helps to support founders in their growth.

Some of my spare time is also spent on tech boards that I sit on, and supporting female entrepreneurs across Europe.

2.What are your focus areas, overall and within the FinTech space?

At Seed X we focus on FinTech, InsurTech, PropTech and LegalTech. We enter between pre-Seed and Series A. After joining the company, we intend to do follow-on investments.

While we look at the sector as a whole, we will deploy more capital of our fund towards impact startups (in the Fintech sector) as well as female founders.

We invest in companies that are solving real clients’ problems (saving costs, increasing revenue, improving effectiveness)  in growing and changing markets, with a 5+ year perspective. Are they doing that in a sustainable way and growing fast? Like our investors we tend to have a longer-term horizon than an average VC. As it may take some time for early-stage startups to find their market-fit, we do not run only after trends, but also sticky customers and robust business models that can support growth.

3.Any recent deals or partnerships that you would like to share with us?

We like to get surprised about the significance of the problem solved by our startups. Dabbel is reducing energy costs in commercial buildings by 20% and more, even with new buildings. That fact impressed us massively!

Zelf is providing “banking solutions of the future” to Generation Z. It’s more than inspiring to rethink banking and offer that to the next banking generation.

On the other hand, Elucidate is quantifying the risk of exposure to financial crime for financial institutions. The team is working towards benchmarking a whole sector and establishing a standard, like Moody’s or S&P in other fields – we support that ambition.
4. Which are the trends to watch out for in the next 6-18 months?

There is a lot happening in payments, whether it is across borders or Buy-Now/Pay-Later, and it will be interesting to see how regulators react in each geography.

It’s too early to tell where Europe will be heading with the Digital Euro, but obviously we will be keeping an eye on what’s happening in China as they are moving much faster there and that will influence how European FinTechs in that space react.

We have seen many deals in Sustainable Finance, especially around carbon footprint calculations and how to offset, standards have not been defined yet, so it’s fascinating speaking with founders on how they are thinking about it, how they are building their algorithms and where they source their data.

With interest rates so low, lending is also a very interesting space, we see fast movers on mortgages, but also in CRE.

In InsurTech, embedded insurance and parametrics is where I expect the fastest growth in the next 18 months.

5.Your advice to European founders looking to scale up and raise funds?

Startup founders do have 3 main groups of people they’re interacting with:

Clients: Don’t skip the phase of making assumptions and taking the time to validate them. There is a temptation to start coding, thinking you’ll just figure things out as you go. You’ll have all the time in the world to be agile and to move fast once you have validated some assumptions.

Investors: Engage with investors early, it usually takes longer than you think to fundraise. If you know what KPIs and metrics are expected, it will save you time too down the line. Valuations are starting to go up again and there is more money coming from the US, so this is a good environment for startups to raise.

Employees: There is no excuse not to be building a diverse team anymore, now that founders can hire talent from almost anywhere. Diversity of point of views and backgrounds is very important to ensure that you’re looking at problems from many angles and coming up with the best solutions.

No matter which stage you’re at, never stop talking to your customers.

6.What’s on your bookshelf/ reading list?

  • Why Startups Fail by Tom Eisenmann
  • A Life on Our Planet by David Attenborough
  • My Own Words by Ruth Bader Ginsburg

7.Your favorite place for a coffee and/ or a drink?

Outside preferably and always with the best founders in town.

7 Questions with Harald Axelius of Billender

Harald Axelius

Tell us a bit about yourself and your company.

Billender is the first buy now-pay later solution for paying bills. You simply snap a pic, you can pay any bill in seconds with a variety of flexible payment options. Billender simplifies payment of bills while giving the user a better overview of their personal finance. With services like Klarna, Affirm, Afterpay etc, consumers today are used to having access to all types of payment options, including flexible credits any time they want to purchase something. Billender applies the same model for paying bills. Before I started Billender, I was involved as an angel investor, chairman of the board and many other different roles at Savelend, Sweden’s largest peer-to-peer platform. I have a Master of Laws (LLM) but always worked in tech. I currently reside in Stockholm, Sweden and Marbella, Spain with my girlfriend Jenny. When I’m not working I enjoy taking 20 minute meditation naps with noise cancellation earphones or watching Youtube videos about the construction of different “mega projects” around the world.

Give us the backstory – how did you get the founding idea, and how did the first sale come about?
I had been involved in fintech for a long time and worked with different types of payment and credit solutions. When Savelend went public, I felt it was time for me to get back to startup mode. I got the idea during a brunch, and when the dot-com address for Billender was available I had no excuse not to go ahead. I needed a CTO and I met my co-founder Sini through a mutual friend. She quickly developed an MVP and we pretty much got traction from day one.

Which was the most challenging phase, and what would you have done differently?
We are under the supervision of the Financial Supervisory Authority. To get the license is always challenging for a small startup since many of the regulations such as anti-money laundry are written with big banks in mind. With that said, I think our biggest challenges lies ahead of us. Our first 1 000 paying users have been pretty smooth sailing.

When did you decide to expand to the international/US market, and how?
We have not yet decided to do this, right now I’m not even allowed to go to the US (because of the pandemic, nothing else). Instead, we are now deciding on what European country to expand to next. I can’t tell you which one we are investigating, danke schön.

When did you first decide to raise venture capital, and what has been your approach to financing growth over the years?
We raised VC money already in our pre-seed. There have never been so many VC firms and so much money out there as it is today.

How is building an Enterprise FinTech firm different from a “regular” SaaS / Enterprise Tech company, and what three things should founders get right?
If you’re handling transactions for thousands of consumers like we are, always keep in mind that it is a major responsibility. You can’t make it up as you go along, you need to have clear ideas and well-laid out policies from the start.

What’s on the priority list for you and your team for the next year?
We have reached the first step of product market fit where you feel you have something that really works. Our challenge now is how to develop this into a product that can be relevant for more people. How do you build a “people’s app”? Plus I want us to grow our 100% distributed team and still maintaining a company culture.

Where is the financial services sector headed in the next 12-18 months, and what should we be watching out for?
There are people better suited than startup CEO’s to give predictions about financial trends (and even those tend to be wrong), but I’m still pretty excited about Open Banking and think there are even more opportunities for us fintechies to explore there.

Your favorite place(s) for a meal, coffee or drink (pre-/ post-COVID19)?
Espacio Eslava in Seville, Spain. When Christobal waves you in for some free seats in the crowded bar, and you decide to order every tapa on the menu, you know you’re in for a great night.

Register for FinTech Forum: 18-Nov-2021; Q&As with IDA Ireland and Billon; funding for ilumoni, Weecover, 9fin, Humn, N26, Zopa, Juni

Reconnect with and hear from the startups, investors and financial institutions behind “what’s next in European FinTech” – on 18th November, FinTech Forum returns to the Airport Club, Frankfurt here.

Early stage European FinTech deals this week include  ilumoni, Weecover, 9fin, Humn, N26, Zopa and Juni.

We feature Q&As with Daragh Hanratty of IDA Ireland and David Putts of Billon.

Seen the 2nd edition of Scaling Enterprise FinTech | The Handbook, launched in partnership with Money20/20 and SixThirty Ventures, and featuring Q&As with the founders and investors behind Europe’s leading B2B / SaaS FinTech scale-ups?  http://www.fintechforum.de/sef/

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to us: Frank Schwab or Samarth Shekhar.

7 Questions  with Daragh Hanratty of IDA

  1. Please tell us a bit about yourself, both at work and leisure.

I am VP for financial Services with IDA Ireland, the state agency responsible for FDI into Ireland. I am based in Frankfurt, have a keen interest in fitness and travel. During lockdown I took up running. I am currently working to improve my times for 5km and 10km park runs

http://www.fintechforum.de/7-questions-with-daragh-hanratty-of-ida-ireland/

Scaling Enterprise FinTech: with David Putts of Billon

  1. Tell us a bit about yourself and your company.

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). The system, designed for maximum throughput and low cost of maintenance, meets regulatory requirements and solves challenges for the wide adoption of blockchain technologies. As a result of this innovation, we are now moving past the early commercialisation stage, and we have over 20 clients…

http://www.fintechforum.de/qa-with-david-putts-chief-growth-officer-billon/

Yorkshire fintech start-up launches ‘borrowing’ app after £1.63m investment

A Yorkshire fintech start-up has launched a ‘borrowing’ app following £1.63m investment. ilumoni, based in Barnsley, gained FCA authorisation earlier this year and has successfully completed its Beta testing and is now available to the wider market on Android and iOS devices.

The free to use, AI-driven app helps users identify how they can improve their borrowing. The app shows them the benefits of making changes to repayments as well as alternative borrowing options, all based on what the user can afford and the products they are eligible for.

The insight the app provides encourages users to stay on track to reach their goals, which in the long term not only improves their financial situation but could also alleviate stress and anxiety.

ilumoni previously raised £340K pre-seed investment from Move Ventures, and angel investors including Simon Moran, former CMO, and now non-executive director, Premium Credit, and Andy Deller, former CEO of Dunbar Bank plc, part of Zurich Insurance Group.

https://bdaily.co.uk/articles/2021/10/18/yorkshire-fintech-start-up-launches-borrowing-app-after-163m-investment

Insurtech startup Weecover secures €2.3M seed funding, plans to increase workforce and international presence

Weecover, a Spanish startup specialising in embedded insurance, has raised €2.3M in its seed round of funding. Nauta Capital, a venture capital firm that has previously invested in firms such as Holded, Privalia, and Brandwatch, led the investment round.

Weecover intends to use the proceeds to increase the company’s international presence and to hire more talent to expand its workforce.

Weecover CEO Jordi Pagés says, “The new funding allows us to increase our presence in European markets while strengthening the organisation by incorporating new talent.”

Weecover claims to have developed a plug-and-play insurance solution that enables businesses to integrate customised insurance products into their sales processes, both online and offline.

https://siliconcanals.com/news/weecover-secures-2-3m-seed-funding/

9fin Raises £8M in Series A Funding

9fin, a London, UK-based provider of data, news and predictive analytics for debt capital markets, raised £8M in Series A funding.

The round was led by Redalpine, alongside previous investors Fly Ventures and angel investors Paul Forster, Co-Founder of Indeed, Alan Morgan, Co-Founder of MMC Ventures, Ilavska Vuillermoz Capital and a number of high net worth individuals.

The company, which has to date secured over £10M in funding, including the support from Seedcamp and AI Seed Fund, intends to use the funds to accelerate its expansion into the US, with the opening of a New York office following increased demand from existing customers in Europe.

Co-founded by Steven Hunter and Hussam El-Sheikh, 9fin provides intelligence for the debt capital markets community. Its tech platform uses machine learning and computer vision to extract and standardise debt capital markets data in real time to allow customers to save time, spot trading opportunities and increase their share of the $65bn of debt capital markets fees earned by advisors each year.

https://www.finsmes.com/2021/10/9fin-raises-8m-in-series-a-funding.html

Humn Raises £10.1M in Series A Funding

Humn, a London, UK-based insurtech company, raised £10.1m in Series A funding. The round was led by BXR Group and Shell Ventures as well as Hambro Perks Leaders Fund and Woodside Holdings.

The company intends to use the funds to further develop its insurance data capabilities and expand the commercial functions of the business, as well as expanding into Europe next year.

Founded in 2018 and led by CEO Mark Musson, Humn is an insurtech company producing real-time data-driven fleet insurance. The solution provides fleets with transparency by leveraging a risk platform, riskOS, which analyses thousands of in-vehicle and external data points, in real-time, to provide an entirely contextual assessment of driving risk and a clear basis for the pricing of Rideshur, their dynamic insurance product. Rideshur continuously adjusts the insurance premium cost based on the risk exposure at any given moment.

https://www.finsmes.com/2021/10/humm-raises-10-1m-in-series-a-funding.html 

Berlin-based neobank N26 raises over €775 Million additional funding at a valuation north €7.75 billion

The mobile bank N26 today announced its record-breaking €775 million Series E funding round, the largest financing round to date for a digital bank in Europe. The recent funding increases the company’s valuation to more than €7.75 billion, making the Berlin-based pioneer the highest valued fintech in Germany, and ranking it amongst the top 20 fintechs in the world.

The round was led by the New York-based tech investors Third Point Ventures and Coatue Management, and joined by Dragoneer Investment Group as well as N26’s existing investors.

N26 was founded in 2013 with a mission to build the first mobile bank the world loves to use. Valentin Stalf and Maximilian Tayenthal launched the initial N26 product in early 2015. Today, N26 has already welcomed more than 7 million customers in 25 markets. N26 has a 1,500-strong team of 80 nationalities based across the globe.

https://www.eu-startups.com/2021/10/berlin-based-neobank-n26-raises-over-e775-million-additional-funding-at-a-valuation-north-e7-75-billion

Digital Bank Zopa Raises $300 Million, Expects to be Profitable within Weeks

Zopa, a digital bank that started as a peer-to-peer lender, has raised $300 million (£220 million) in a funding round that reportedly gives the Fintech a $1 billion valuation. The deal is currently in the process of receiving regulatory approvals from UK regulators.  JP Morgan acted as Sole Placement Agent for Zopa on this transaction.

The Softbank Vision Fund 2 led the round that included participation from Chimera Abu Dhabi. Existing investors also participated including IAG Silverstripe, Davidson Kempner Capital Management LP, NorthZone, and Augmentum Fintech. The announcement was timed to align with the UK Global Investment Summit (GIS) 2021, a one-day event hosted in London by the Prime Minister and attended by members of the Royal Family.

https://www.crowdfundinsider.com/2021/10/181809-digital-bank-zopa-raises-300-million-expects-to-be-profitable-in-weeks/

 

Swedish FinTech Juni secures a $52m Series A funding round

Juni, the financial companion for eCommerce entrepreneurs, has secured $52M in funding led by EQT Ventures, with participation from FJ Labs and other existing investors to add to the $21M already raised from their Series-A round in late June this year. This boosts Juni’s Series A round to $73M and takes the total funding to date to $76M. EQT Ventures joins Partners of DST Global, Felix Capital and Cherry Ventures in backing Juni to disrupt online banking for internet first business customers. The company will use the funds to triple the number of its employees and launch an industry first, fully integrated credit line product for their users.

Founded in June 2020 in Gothenburg, Sweden, co-founders Samir El-Sabini (CEO), Jonathan Sanders (COO), and Anders Orsedal (CTO) have a winning combination of payment, banking, FinTech and technical developer experience between them. As part of Juni’s mission to help eCommerce businesses grow faster, customers will soon access short-term credit, starting with an initial roll-out in the UK.

https://ibsintelligence.com/ibsi-news/swedish-fintech-juni-secures-a-52m-series-a-funding-round/

 

Mastercard-backed AvidXchange valued at $4.6 billion in tepid Nasdaq debut

Business payments firm AvidXchange Inc hit a market capitalization of roughly $4.62 billion on Wednesday in a lukewarm market debut, mirroring investor concerns of growing volatility in the U.S. capital market.

Shares of AvidXchange, which counts Mastercard Inc among its investors, opened at $24.14, down 3.4% from its initial public offering (IPO) price of $25 per share… AvidXchange, which makes software that automates payments, invoicing, and accounting for small and mid-sized businesses, had raised $660 million in its upsized IPO on Tuesday by selling 26.4 million shares.

https://www.reuters.com/article/avidxchange-ipo-idUSKBN2H31UM

European rival to PayPal and Square makes $317 million acquisition to expand in the U.S.

SumUp, a U.K.-based payment processor, has acquired marketing start-up Fivestars in a bid to expand its reach across the U.S. and take on giants like PayPal and Square.

The company said Thursday it was buying Fivestars for $317 million in a mix of cash and stock. San Francisco-headquartered Fivestars helps merchants set up rewards schemes and promotions for customers. The deal gives SumUp access to Fivestar’s 12,000 customers and $3 billion in sales per year.

Founded in 2012, SumUp is best known for its mobile credit card readers that let small businesses accept payments. The company also provides other payment tools, including the ability for merchants to set up their own online stores. It has over 3 million merchants signed up across Europe, the U.S. and Latin America.

SumUp competes with Sweden’s iZettle, which was acquired by PayPal in 2018, as well as Jack Dorsey’s Square. As the start-up plots an expansion in the U.S., rivalry with those big players is set to intensify. But SumUp thinks there’s enough room for a number of different companies to co-exist.

https://www.cnbc.com/2021/10/14/payments-firm-sumup-makes-317-million-acquisition-to-expand-in-us.html

 

Evolution Equity Partners Closes $400M Cybersecurity Fund

Evolution Equity Partners, a global venture capital firm, closed a new fund, at $400m.

Backed by a premier base of new and returning institutional investors, corporates, and family offices from the United States, Europe, Middle East and Asia, Evolution Technology Fund II L.P., will make investments in cybersecurity and enterprise software companies that safeguard the digital world.

The fund will make investments in the range of $10m to $50m in early and growth stage companies in cybersecurity and in companies utilizing machine learning, big data and SaaS to build market leading platforms.

Led by Founders and Managing Partners Dennis Smith and Richard Seewald, Evolution Equity Partners makes investments in cybersecurity and enterprise software companies that safeguard its digital world.

The firm currently has over $1 billion of assets under management. Over three funds, Evolution has backed companies including SecurityScorecard, Carbon Black, Arqit-Quantum, DefinedCrowd, Quantexa, DICE, Onapsis, Elliptic, Unbound, Cape Privacy, Satori Cyber, Solidus Labs, Truefort, Panaseer, AVG Technologies, DFLabs, Logpoint, Eperi, OpenDNS amongst a portfolio of 40 companies in cybersecurity.

https://www.finsmes.com/2021/10/evolution-equity-partners-closes-400m-cybersecurity-fund.html

Lendable to Launch $100 million Emerging Market Fintech Fund with Leading Impact and DFI Investor

Lendable Inc. (“Lendable” or the “Firm”), a leading emerging market fintech credit provider, is targeting a ground-breaking $100 million closed-ended fund focused on emerging and frontier market fintech investments.

The Lendable MSME Fintech Credit Fund (the “Fund”) is designed to unlock access to financial services for over 150,000 Micro, Small and Medium Enterprises (MSMEs), providing investors with high impact exposure to important markets and the potential of high uncorrelated returns.

This Fund provides credit to African and Asian fintech companies, who in turn offer fair credit facilities to MSMEs. These same MSMEs are the engines of wealth creation, financial inclusion, and economic growth in these regions, yet historically have had limited access to fair credit and financial services.

https://finance.yahoo.com/news/lendable-launch-100-million-emerging-120000893.html

 

Portugal Fintech Report 2021

The ecosystem is growing and the Fintech report is growing with him – this year Portugal Fintech presents the Golden Edition.

The Report will present you an overview of the industry’s progress and main trends, maps the top of Portugal’s Fintechs and reflects on the industry’s best practices, real experiences and collaborations​.

JOIN US FOR THE OFFICIAL LAUNCH on the 28th of October, and access first-handed the main insights:

 https://www.eventbrite.co.uk/e/official-launch-of-the-portugal-fintech-report-2021-virtual-event-tickets-190254545467

 

The U.S Commercial Service Frankfurt invites U.S. FinTech companies to a briefing about market opportunities in Germany.

Are you a #USA #fintech company interested in doing business in #Germany?

The emergence of financial technology companies (FinTech) whose line of business combines #software and #technology to deliver #financial services – will reshape and improve #finance by cutting costs and expanding access to financial services.

Germany is an important FinTech market in Europe and the fourth largest in the world. It offers great opportunities for U.S. businesses with high-tech, leading-edge solutions.

Tune in on Wednesday, October 27, 11:00 – 12:00 AM Eastern Daylight Time:

https://www.linkedin.com/posts/export-to-europe_usa-fintech-germany-activity-6853595279413792769-0Ibs

https://www.trade.gov/germany-events-fintech-webinar

Meet us at:

Web Summit1-4 Nov. 2021, Lisbon 

SuperReturn International9-12 Nov. 2021, Berlin

FinTech Forum18 Nov. 2021, Frankfurt

Meet Our Partners: 

Heussen https://www.heussen-law.de

IDA Ireland https://www.idaireland.com

Opportunity Network https://www.opportunitynetwork.com/fintech-forum

FinTech Innovators https://fintech-i.com/?sumsrc=ftf

FN FinTech 40 https://www.fnlondon.com

Apply / register for the FinTech Forum 2021. We feature Q&As with FinTechOS and Eight Roads

Apply / register for the FinTech Forum 2021 on 18th Nov. at the Airport Club, Frankfurt) here.

The 2nd edition of Scaling Enterprise FinTech | The Handbook in partnership with Money20/20 and SixThirty Ventures is out: http://www.fintechforum.de/sef/

Check out our Q&As with Teo Blidarus of FintechOS and Virginia Bassano of Eight Roads.

Early stage European FinTech deals this week include CoinShares International Limited (Flow Bank) and Abacon Capital (Getsafe).

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Teo Blidarus of FintechOS
1. Tell us a bit about yourself and your company.

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.

teo-blidarus-of-fintechos

Scaling Enterprise FinTech: with Virginia Bassano of Eight Roads

 

1. Please tell us a bit about yourself, both at work and leisure.

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.

virginia-bassano-of-eight-roads
European Digital Asset Manager CoinShares Announces New Investment In Switzerland’s Online Bank, FlowBank

 

CoinShares International Limited (Nasdaq First North Growth Market: CS) is pleased to confirm a strategic investment of $11,845,790 in FlowBank, an online bank based in Geneva, Switzerland.

Following the investment, CoinShares “holds 110,000 shares in FlowBank, representing 9.02% of its enlarged share capital,” according to a release.

Established by Charles-Henri Sabet last year, and licensed by the Swiss Financial Market Supervisory Authority (FINMA) and a member of esisuisse, FlowBank aims to make investing accessible “to everyone.” It does so via an “intuitively-designed investing platforms, educational trading courses led by seasoned experts, and by offering highly competitive pricing.”

https://www.crowdfundinsider.com/2021/10/181410-european-digital-asset-manager-coinshares-announces-new-investment-in-switzerlands-online-bank-flowbank/

 

Abacon Capital and other investors invest $93 M in Getsafe

The ‘neo-insurer’ has made a name for itself targeting millennial customers, and currently serves a quarter of a million people across Germany and the UK. It was founded in 2015 by CEO Christian Wiens and CTO Marius Simon.

The company has digitised the entire insurance process, making it accessible through a smartphone app. Via the app, customers can buy, manage and adapt their policies as well as file a claim instantly.

Among its new investors are some of the largest family offices from Germany and Switzerland, including Abacon Capital. Existing investors Earlybird, CommerzVentures and Swiss Re also participated in the round.

Abacon Capital embraces disruptive innovation and invest in exponential technologies & exponential organizations whose recent investments include Tomorrow and Wirelane.

https://www.siliconrepublic.com/start-ups/german-digital-insurer-getsafe-funding

Deutsche Börse launches next-generation digital post-trade platform 

– Digital post-trade platform D7 enables end-to-end digital securities processing
– Over 80 per cent of German securities eligible to be digitised through centralised digital register by mid-2022, enabling same-day-issuance and paperless, automated straight-through processing
– Launch partners include leading financial institutions and global technology partners

Global market infrastructure provider Deutsche Börse plans to launch a regulatory compliant, fully digital post-trade platform called D7, anchored in the recently introduced German digital securities law framework.

https://www.deutsche-boerse.com/dbg-en/media/press-releases/Deutsche-B-rse-launches-next-generation-digital-post-trade-platform–2800582

Cloud enabled Clearing Bank ClearBank Introduces Multi-Currency Solution for Fintechs
ClearBank, the Cloud-powered clearing bank, has announced the launch of a multi-currency solution that will aim to lower the friction for Fintech firms and financial institutions that provide cross-border payments and FX capabilities.

ClearBank’s API-driven tech and Banking-as-a-Service (BaaS) capabilities have created seamless payment solutions in Sterling, for use “in partnerships with the Department for Work and Pensions and PayPoint, Tide and other multi-national brands, so the expansion into multi-currency and FX is a natural and pertinent progression for the clearing bank.”

https://www.crowdfundinsider.com/2021/10/181270-cloud-enabled-clearing-bank-clearbank-introduces-multi-currency-solution-for-fintechs/

Meet us at:

Web Summit, 1-4 Nov. 2021, Lisbon
SuperReturn International, 9-12 Nov. 2021, Berlin
FinTech Forum, 18 Nov. 2021, Frankfurt

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Conversation opened. 1 read message.

Scaling Enterprise FinTech: with Virginia Bassano of Eight Roads

This interview is part of Scaling Enterprise FinTech | The Handbook, launched in Sep. 2021 in partnership with SixThirty Ventures and Money2020 Europe. Whether you are a founder with an idea, an early stage startup looking for inspiration and learnings, or an investor or financial institution looking to understand the difficult but rewarding journey to building a world-class Enterprise FinTech firm- download The Handbook.

1. Please tell us a bit about yourself, both at work and leisure.

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.

2. What are your focus areas, overall and within the (B2B) FinTech / InsurTech space?

I focus on investments on Southern and Northern Europe mostly in the enterprise, fintech and healthtech space. Amongst Fintech, areas we currently look into include, but are not

limited to, B2B Payments, Banking as a Service, B2B BNPL, B2B infrastructure, finance tools for SMEs, payment orchestration platforms and InsurTech.

3. Any recent deals that you would like to share with us, and why you invested or partnered?

We invested in Spendesk last year as we believe that one of the most exciting segments of this modern finance stack is the spend management category. Spend management platforms have the ambition to radically simplify the way employees make payments and provide real-time visibility for finance teams over all company expenses. Traditionally, companies have used shared company credit cards or bank wires with no visibility into spend until after it has happened. In contrast, spend management platforms help companies spend money and track that spend in real-time in one single tool, removing the need for multiple different applications. Longer term, we believe that spend management platforms will become end-to-end tools capturing most of an SMB operational spend excluding payroll. As a consequence they are very sticky, but also particularly well placed to add additional services over time, such as lending, insurance, suppliers marketplace, etc. Going after this attractive market and building the category of spend management was the main reason we got excited about Spendesk.

4. What does it take to get to Series A today?

With rounds of increasing size, it’s less and less a matter of “how big you are now” but more of “how successful can you become”. Following their seed round, startups will need to prove to have a practical solution to solve a real issue, while addressing a sizeable market. As series B investor, we typically invest in scale up stage startups: companies that have built a product, found a product market fit and are now looking to scale. To get to series A, startups should already have in mind their objective for the long term, creating a vision and strategy for where they would like to be. The best way to do it is with an experienced and credible team, a successful product solving the need of a large market and a well-played execution on the strategy.

5. Which are the trends to watch out for in Europe/ EMEA in the next 6-18 months?

As the customer base for the banking industry becomes more tech-savvy and more environmentally friendly by the day, digital-only banks have amplified in popularity and this trend is not going to stop. We are also seeing a “second wave” of neobanks: lighter, more sustainable and environmentally friendly.
Open Banking has promised to provide more competitive financial services that are personalised to the needs of individual or business.

Buy Now Pay Later solutions are spreading across EMEA both on the B2C and B2B side. Embedded Finance and BaaS will become more and more relevant with API-based embedded payments (and, over time, other banking products) facilitating new business models. BaaS unlocks the promise of embedded finance: it enables nonbanks to offer financial services by integrating banks’ services via APIs, and building products on top of the traditional banking infrastructure. The next 6-18 months will be crucial to see how non-fintech companies will adapt to this shift. According to FinTech magazine, 41% of UK SMEs have now incorporated Fintech into their business. In Europe, I am expecting that more and more SMEs will continue to adopt Fintech (from new lending products to utilising open banking data) to improve their efficiency and offer better services to maintain a competitive edge.

6. What should startups expect or plan for in the coming months?

The past 18 months had a lot of uncertainty, but the financial technology boom powered by the pandemic was very clear.
Startups should plan ahead and be smart: create a set of leading indicators (could be linked to ARR, growth, #sales, pipeline, number of clients, monthly burn, etc) to guide them through their growth and plans and adjust the future roadmap accordingly. Additionally, startups should make sure to closely monitor the market they play in: it’s easy to see increasing competition from players that address a similar problem in a different or more creative way.

7. Your favorite place for a coffee and/ or a drink?

As an Italian, this is an easy one: anywhere I can take the perfect Espresso macchiato.

Scaling Enterprise FinTech: with Teo Blidarus of FintechOS

This interview is part of Scaling Enterprise FinTech | The Handbook, launched in Sep. 2021 in partnership with SixThirty Ventures and Money2020 Europe. Whether you are a founder with an idea, an early stage startup looking for inspiration and learnings, or an investor or financial institution looking to understand the difficult but rewarding journey to building a world-class Enterprise FinTech firm- download The Handbook.

1. Tell us a bit about yourself and your company.

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.

2. Give us the backstory- how did you get the founding idea, and how did the first sale come about?

I’ve been an entrepreneur for two decades and founded FintechOS in 2017. We saw that digital transformation at banks and insurers projects were often lengthy, complex and expensive, so developed FintechOS to make building digital products fast and easy for our customers. We wanted to help create solutions that use data as the core, fit market reality and are adaptable to our customers’ needs.

3. Could you summarize your journey to scale from a sales, go-to-market and business development perspective, perhaps split into 2-3 key phases?

We have enjoyed several major funding rounds, starting in 2019 when were raised more than one million euros from regional VCs and LAUNCHub Ventures before closing a €12.6M round led by Earlybird’s Digital East Fund and OTB Ventures. Then in 2021, we raised $60 million (€51 million) in Series B funding in a round led by Draper Esprit.

We’re now focusing on global expansion and have added 120 new staff – a 40% increase in headcount – and are now working towards setting up new offices in the USA, Dubai, Singapore, and other locations.

4. Which was the most challenging phase, and what would you have done differently?

The most challenging phase is happening right now. We’re expanding fast and growing our headcount, which means focusing on everything from developing our internal culture to deciding how a FintechOS office should look and feel. We’re focused on growth and things are happening fast, so the time to look back is a few years away.

5. When did you decide to expand to the international/ US market, and how?

There are more than 320 million bank customers in the US, who are now expecting digital services. Market penetration of digital banking will increase from 75.4% of all US bank users to 80.4% by 2022. The expansion to the US makes sense.

We launched in the US in 2021 and are forging links with American credit unions and traditional banks with a view to removing common obstacles to digitalization. We’ve appointed a new Senior Vice President to drive our expansion in the US and our customizable technology will allow institutions to start small, think big and scale fast.

6. When did you first decide to raise venture capital, and what has been your approach to financing growth over the years?

We’re delighted that the market has shown confidence in us during several major funding rounds. As well as funding rounds, we also won $10 million of investment from IFC — a member of the World Bank Group. We’re pleased that that market has shown faith and trust in us, with Series A and B funding helping to catapult us to where we are right now.

7. How is building an Enterprise FinTech firm different from a “regular” SaaS / Enterprise Tech company, and what three things should founders get right?

The financial sector is highly regulated, has its roots in analog, non-digital services and has only adopted direct to consumer models relatively recently. Digital-first players like neo banks have focused on making products that are simple, friendly, innovative, and can be brought to market very fast. All three are hard for incumbent banks due to their size and history – even though they know what good looks like.

In the enterprise space there is always a battle between innovation and manageability.
Due to their size and history, it is very hard for old players to innovate at the speed of their digital native counterparts. Banks need to strike a balance between the dreamers and the actual day-to-day management of the bank’s operations. The fintech revolution can be a headache for established incumbent financial institutions.

For an enterprise fintech to be successful, it must remember three key points.

  • –  Firstly, it should showcase tangible benefits that can be achieved. It’s no good making pie in the sky promises and failing to deliver.
  • –  Secondly, a fintech should talk the language of its customers. If you’re working with banks – you should be speaking like the people who work inside that bank and recognize that tech team innovators might not talk the same language as business leaders. It’s your job to crack the code and start communicating with the right people.
  • –  Lastly, an enterprise fintech needs to have a product or platform which makes practical innovation faster and easier. It’s difficult and time-consuming to devise new ideas, solve problems and design products – but innovation is non-optional. Founders should seek to give businesses tools and platforms which grant them the ability to innovate at speed and bring new solutions to market quickly, because those are powerful abilities in an era of rapid digital change.8. What’s on the priority list for you and your team for the next year?

    We’re now focused on US growth and winning big name clients across the world. FintechOS believes in collaborating, so we have forged strong partnerships including Microsoft, Deloitte, Persistent and Capgemini and collaborations with US category leaders, analysts, consultancy firms and investors.

    We hope to have 15 new US bank and credit union partners by the end of 2022 as well as making 100 new US hires across product management, sales, marketing and customer success. By the end of 2022, our total global workforce will total more than 400.

9. Where is the financial services sector headed in the next 12-18 months, and what should we be watching out for?

Not all financial markets were at the same stage of their digital transformation when COVID-19 changed the world. For more advanced markets we will see established banks, credit unions and new entrants in the fintech space rapidly launch digital-only customer products to meet growing demand. In more traditional markets where financial institutions had to digitize quickly to survive, we will see them in many cases accelerate their digital transformations using technology that is available and accessible to all institutions. This will allow them to easily vault challenges which more advanced banks had to painstakingly work over.

Customer experience will only continue to grow in importance to become the key battleground on which financial players will compete. It is a time of change, and the banking sector will look very different in a few years’ time.

10. Your favorite place(s) for a meal, coffee or drink (pre-/ post-COVID19)?

Before the pandemic, my favorite place to eat was Stadio Park, in Bucharest. That’s where we used to head after work to watch the football, have a few drinks and get a meal.

As the pandemic travel restrictions lift, we’ll be drinking and eating at restaurants around the world due to the international expansion of FintechOS. But I’m looking forward to getting back to Stadio Park.

Scaling Enterprise FinTech: with Bernd Richter of FIS Impact Ventures

This interview is part of Scaling Enterprise FinTech | The Handbook, launched in Sep. 2021 in partnership with SixThirty Ventures and Money2020 Europe. Whether you are a founder with an idea, an early stage startup looking for inspiration and learnings, or an investor or financial institution looking to understand the difficult but rewarding journey to building a world-class Enterprise FinTech firm- download The Handbook.

1. Please tell us a bit about yourself, both at work and leisure.

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

2. What are your focus areas, overall and within the (B2B) FinTech / InsurTech space?

B2X, G2X and C2X Money Movement and Infrastructure

3. Any recent deals that you would like to share with us, and why you invested or partnered?

FIS invested into Modulr Financial

4. What does it take to get to Series A today?

A desirable MVP with pilot customers with a subsequent roadmap for growth to scale

5. Which are the trends to watch out for in Europe/ EMEA in the next 6-18 months?

Consumer-focused DeFi with a compelling UX,
Pre-CBDC commercial cash on ledger solutions under EMD2, Democratization of real-time payments through on-us networks

6. What should startups expect or plan for in the coming months?

More consolidation activities on domestic & regional level, Geo entries/expansions from global plays

7. Your favorite place for a coffee and/ or a drink?

Sunrise at the Baltic sea (where I live), with a hot Americano

7 Questions with Gerrit Sindermann of F10 Global

1. Please tell us a bit about yourself, both at work and leisure.

I am leading the Swiss business for F10 Global, a Fintech and Insurtech-focused open accelerator, headquartered in Zurich with further hubs in Singapore and Spain. I am also in the board of our investment company, which invests in F10 startups. Besides that, I am representing F10 in the Swiss Green Fintech Network, launched 2020 to support and leverage the Swiss government’s ambition to develop the country into a leading hub for sustainable finance. With the Green Fintech Network I co-drafted the Swiss Green Fintech Action Plan, and with F10’s partner New Energy Nexus I work on our new global Climate Fintech Accelerator programming.

Prior to F10, I worked 10 years in banking (mostly at ABN AMRO Bank) and 10 years in tech (mostly fintech), founded one and worked with several startups at different stages and on topics ranging from mobile and micropayments to data and analytics.

Off work, I love any kind of outdoor sports (Switzerland being a perfect spot for that…), love(d) traveling and learning about different cultures. Due to the latter and an adventurous mind/heart, I left Germany in 2006 and lived since in The Netherlands, Colombia, Morocco and Ireland. Climate change and environment are major topics of concern and interest for me, thus I am excited that Sustainable Finance is picking up broadly now!

2. What are your focus areas, overall and within the FinTech space?

F10 is a corporate-funded accelerator, with the ambition to help banks, insurances and other financial service players to shape their digital future. We therefore also scout left and right besides fintech/insurtech, looking for common pains between our partners, mostly B2B or at least B2B2C.

Currently, Sustainable Finance and SME-focused solutions are top of our (partners’) minds, yet digital assets, open wealth/wealthtech, security and data and analytics are also on our active radar.

Additionally, with our early stage program (“Incubation”) we take on more investor glasses, and more independently look for scalable propositions in above fields, including B2C.

3. Any recent deals that you would like to share with us, and why you invested?

Most recently, we e.g. invested into Relio – a forthcoming SME-challenger bank (launched by a Penta founder), into Stableton – a fast growing alternative asset marketplace, into Troc Circle – an invoice netting and collection platform or into Aisot – an exciting AI investtech startup focused on trading signals for crypto or conventional asset markets

4. Which are the trends to watch out for in the next 6-18 months?

Clearly, a currently accelerating, emerging megatrend topic is sustainable finance. Among the vast universe of topics under this global term, we especially picked Climate Fintech which ranges from carbon footprint calculators for B2C services, to ESG rating solutions for non-listed companies or DLT-based carbon credit marketplaces. We see a tipping point where it doesn’t need a green conscience anymore to commit to climate change mitigation. Regulators make sure, exteralised costs or impact is being made transparent, risks are being better understood and with the huge transition costs projected, there are huge investment opportunities. More and more local and global financial service players are pledging to work not only on their own but also on the carbon footprint of their supply chains and product distribution and use. Currently we are still in a phase where significant work is required to collect more and better data, covering a vastly bigger space of the economy. Lastly, interpreting and communicating partly complex information is still a big need.

 

Additionally, digital assets and related services and products (trading-related, risk management, KYC, ..) are picking up speed, with maturing and fast(er) scaling players driving further interest, investment, and application. In Switzerland we have the luxury of a regulator that dared to pick up DLT early on, which is why we see a lot of new players setting up shop and starting from here.

5. Your advice to European founders looking to scale up and raise funds?

I see a more maturing (currently maybe a bit overheating) European market, meaning (also more) funding being more easily available, which founders should take advantage of as long as the momentum lasts. At the same time, due to the current growth of European fintech market(s), founders should even more aim to early on identify differentiating factors of their business. With the vast amounts raised by some of the “incumbent fintechs”, young businesses may have a harder time to gain traction/win market share, if they are too close to the ”incumbent fintechs” in their propositions.

Lastly, with COVID having solved some earlier remote work-related questions, founders have the great(er) opportunity to build great teams, less constrained by local talent availability. To succeed here, of course skillful and effective remote team development and management becomes a key success factor.

6. What’s on your bookshelf/ reading list?

Recently re-read Peter Thiel’s Zero to One, currently at Bill Gates’ How to avoid a Climate Desaster, and generally reading up on Climate-related regulation matters, next book: The great CEO within.

7. Your favorite place for a coffee and/ or a drink?

In Zurich Cafe Grande at the Limmat, for both, a small, casual place, easy to reach, also for anyone to meet.

The first set of startups and investors at FinTech Forum 2021 on 18th Nov. at the Airport Club, Frankfurt) have been announced! Early stage European FinTech deals this week include Zilliqa Capital (Coinrule), Charles Delingpole (Comply Advantage), Illuminate Financial (Profian)

The first set of startups and investors at FinTech Forum 2021 on 18th Nov. at the Airport Club, Frankfurt) have been announced- check them out here. We feature Q&As with Gerrit Sindermann of F10 Global and Alex Mifsud of Weavr.io.

Early stage European FinTech deals this week include Zilliqa Capital (Coinrule), Charles Delingpole (Comply Advantage), Illuminate Financial (Profian).

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

7 Questions with Gerrit Sindermann of F10 Global

1. Please tell us a bit about yourself, both at work and leisure.

I am leading the Swiss business for F10 Global, a Fintech and Insurtech-focused open accelerator, headquartered in Zurich with further hubs in Singapore and Spain. I am also in the board of our investment company, which invests in F10 startups. Besides that, I am representing F10 in the Swiss Green Fintech Network, launched 2020 to support and leverage the Swiss government’s ambition to develop the country into a leading hub for sustainable finance. With the Green Fintech Network I co-drafted the Swiss Green Fintech Action Plan, and with F10’s partner New Energy Nexus I work on our new global Climate Fintech Accelerator programming.

Prior to F10, I worked 10 years in banking (mostly at ABN AMRO Bank) and 10 years in tech (mostly fintech), founded one and worked with several startups at different stages and on topics ranging from mobile and micropayments to data and analytics.

Off work, I love any kind of outdoor sports (Switzerland being a perfect spot for that…), love(d) traveling and learning about different cultures. Due to the latter and an adventurous mind/heart, I left Germany in 2006 and lived since in The Netherlands, Colombia, Morocco and Ireland. Climate change and environment are major topics of concern and interest for me, thus I am excited that Sustainable Finance is picking up broadly now!

http://www.fintechforum.de/7-questions-with-gerrit-sindermann-of-f10-global/

7 Questions with Alex Mifsud of Weavr.io

1. Please tell us a bit about yourself, both at work and leisure. 

I’m an entrepreneur, so no surprise that I’m intensely curious about why things are the way they are, and what would happen if we can change how they are.  That’s true for me in business and everything else I do – it drives my family a bit crazy, but someone has to do it.  Otherwise we’d still be in the Stone Age.  I basically like to tinker – doing little experiments, whether I’m cooking a meal or building a business. It’s fun, experiencing old things in new ways, although it can sometimes be disastrous too. Not everyone likes my cooking.

http://www.fintechforum.de/7-questions-with-alex-mifsud-of-weavr-io/

Launching the 2nd edition of Scaling Enterprise FinTech | The Handbook (available from 8th Oct.)

We are excited to launch the 2nd edition of Scaling Enterprise FinTech | The Handbook in partnership with Money20/20 and SixThirty Ventures. The Handbook will be available to download on 8th Oct. Meantime, check out the Q&As with Oliver Werneyer (IMburse – Advanced Payments Integrator), David Putts (BillonViktor Stensson (BokioMay Wang (Fin Venture Capital) and Semih Kaçan (Swisscom Ventures) that will be part of the Handbook: http://www.fintechforum.de/sef/

Zilliqa Capital and other investors invest 2.2M $ in Coinrule 

Founded in 2018, by Gabriele Musella, Oleg Giberstein and Zdeněk Höfler, Coinrule enables cryptocurrency investors to create and test automated trading strategies for their assets to benefit from market opportunities but also to protect them against adverse events. In effect, it provides algorithmic trading without having to learn a single line of code and has already integrated the offering with global crypto exchanges including Coinbase, Binance, Kraken, Bitstamp among others. Users can access one of 4 plans: one is free, the others charge a tiered fee for Hobbyist, Trader and Pro plans.

Zilliqa Capital is a blockchain investment company that invests in FinTech, Open Finance, and Decentralised Finance solutions whose recent investments include as well Snickerdoodle Labs.

https://www.finsmes.com/2021/09/coinrule-raises-2-2m-in-seed-funding.html

Charles Delingpole, founder and CEO of Comply Advantage and other private investors £3M invests in Crezco 

Founded in 2020 by Ralph Rogge and Igor Pikovsky of Rogge Global Partners – a $60 billion bond fund which was sold to Allianz in 2016 – the fintech startup has already established unique partnerships with Xero, QuickBooks and other B2B platforms for invoice payments for millions of SMEs across the UK and Europe.

Charles Delingpole is Founder and CEO of ComplyAdvantage, a technology company focused on wiping out financial crime using Machine Learning. As CEO, Charles leads the product development and growth of the company.

https://www.uktech.news/news/early-investors-in-revolut-back-london-based-fintech-crezco-in-3m-funding-20211004

Project A Ventures and Illuminate Financial and others invest €4.3M in Cambridge-based online security startup Profian

Founded earlier this year, Profian aims to bring cryptographic proof and verifiable trust to general computing using confidential computing, the protection of data in use by performing computation in a hardware-based Trusted Execution Environment (TEE).

Profian was co-founded by Mike Bursell, former Chief Security Architect at Red Hat, and Nathaniel McCallum, former Virtualization Security Architect at Red Hat.

Illuminate Financial is a venture capital firm backing companies that solve problems in financial services whose recent investments include Blockdaemon and Wematch.live.

https://www.eu-startups.com/2021/10/cambridge-based-online-security-startup-profian-scores-e4-3-million-to-make-cloud-computing-more-secure/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eu-startups+%28EU-Startups%29

Accel invests €16M in Fintech Swan

Swan was launched in 2019 in their studio when they decided to team up with Nico Benady, Nicolas Saison, and Mathieu Breton in order to find “a better way to embed banking features into products.”

Two rounds of financing later and the team has “achieved this and so much more,” the announcement noted.

Accel is an early and growth-stage venture capital firm that helps a global community of entrepreneurs whose recent investments include Wizard and Sky Mavis.

https://www.crowdfundinsider.com/2021/10/181131-baas-fintech-swan-secures-e16m-via-series-a-led-by-accel/

Unlimint and others invest £37 million in Money transfer FinTech TransferGo 

TransferGo connects 3.5m customers across 160 markets. It has processed a massive 13.5m international and local transactions, amounting to over $6bn in money flow.

The funding will be used to help expand TransferGo’s customer base, helping more migrants send and receive money across Europe, and develop its product offering in support of its ambitious goal to grow 5x in the next 3-4 years.

Unlimint provides fast-growing innovative businesses with a constantly evolving business interface, made by innovators for innovators.

https://businesscloud.co.uk/blog/2021/10/01/fintech-transfergo-closes-37m-series-c/

FinTech Collective with participation from existing investors Accel and others invest $52M in Anyfin

Launched in 2017 by Mikael Hussain (CEO), Sven Perkmann (CTO) and Filip Polhem (COO), Anyfin is a fintech company simplifying the process of refinancing debt, helping access fair interest rates on their existing consumer credits.

Using loan data with publicly available consumer data and AI, Anyfin’s proprietary platform enables consumers to refinance their existing installments, credit cards and personal loans, based on their actual risk profiles.

FinTech Collective is a New York-based venture capital fund, focused exclusively on financial services technology companies whose recent investments include Coinshift and Ocrolus.

anyfin-raises-52m-in-funding.html

Meet us at:

Web Summit, 1-4 Nov. 2021, Lisbon
SuperReturn International, 9-12 Nov. 2021, Berlin
FinTech Forum, 18 Nov. 2021, Frankfurt

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

 

The first set of startups and investors at FinTech Forum 2021 on 18th Nov. at the Airport Club, Frankfurt) have been announced! European FinTech deals this week include Ace Capital Partners (JScrambler), Hearst Ventures (Vyne), Re-Pie Asset Management (Colendi) etc.

The first set of startups and investors at FinTech Forum 2021 on 18th Nov. at the Airport Club, Frankfurt) have been announced- check them out here. We feature Q&As with our new event partner, Daragh Hanratty of IDA Irelandand with Korbinian Spann of Insaas.ai, one of the startups selected to present at the event.

Early stage European FinTech deals this week include Ace Capital Partners (JScrambler), Hearst Ventures (Vyne), Re-Pie Asset Management (Colendi) etc.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.
7 Questions with Daragh Hanratty of IDA Ireland

1. Please tell us a bit about yourself, both at work and leisure.

I am VP for financial Services with IDA Ireland, the state agency responsible for FDI into Ireland. I am based in Frankfurt, have a keen interest in fitness and travel. During lockdown I took up running. I am currently working to improve my times for 5km and 10km park runs

http://www.fintechforum.de/7-questions-with-daragh-hanratty-of-ida-ireland/

We are proud to welcome Daragh and IDA Ireland as a partner of FinTech Forum 2021, taking place on 18th Nov. 2021 at the Airport Club, Frankfurt Airport / digital (depending on COVID restrictions).

7 Questions with Korbinian Spann of Insaas.ai

1. Please tell us a bit about yourself, both at work and leisure.

My name is Korbinian, I’m the founder and managing director of Insaas.ai. Our company and I are based in Munich, Germany. I have one son, live in the countryside and love sports like cycling, sailing, running and hiking. As Insaas.ai is a remote-first team, I´m used to working with my team every day via Zoom, Slack and Google. I love being an entrepreneur and work in a team on difficult problems. The understanding and processing of languages is my favorite topic since my studies (Arabic, Hebrew). I enjoy digital marketing and communication, as an expert and as a lecturer at Steinbeis SMI. I’m open minded, curious, and full of positive energy.

7-questions-with-korbinian-spann-of-insaas-ai

Insaas.ai is among the startups selected to present at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport/ hybrid. Check out the agenda and apply / register here: http://ftf2021.eventbrite.com 

Launching the 2nd edition of Scaling Enterprise FinTech | The Handbook (available from 8th Oct.)

We are excited to launch the 2nd edition of Scaling Enterprise FinTech | The Handbook in partnership with Money20/20 and SixThirty Ventures. The Handbook will be available to download on 8th Oct. Meantime, check out the Q&As with Oliver Werneyer (IMburse – Advanced Payments Integrator), David Putts (BillonViktor Stensson (BokioMay Wang (Fin Venture Capital) and Semih Kaçan (Swisscom Ventures) that will be part of the Handbook: http://www.fintechforum.de/sef/

Ace Capital Partners invests $15M in Jscrambler 

Led by Rui Ribeiro, CEO, and Pedro Fortuna, CTO, Jscrambler provides client-side web security solutions. With Jscrambler, JavaScript applications become self-defensive and resilient to tampering and reverse-engineering, while also capable of detecting and blocking client-side attacks like Magecart and data exfiltration.

The round was led by Ace Capital Partners, with participation from existing investors including Portugal Ventures.

Ace Capital partners is a private portfolio investment management company whose recent investments include Figeac Aero and GLIMPS.

https://www.finsmes.com/2021/09/jscrambler-raises-15m-in-series-a-funding.html

 

Hearst Ventures and others invest $15.5M in Vyne

Vyne’s service is designed to enable direct, secure, and faster payments for merchants and consumers alike. By transforming the checkout experience payments can be “completed by consumers in three clicks and merchants can engage customers through more digital channels such as QR codes and pay-by-link, which can be sent by email, SMS or in person.” Vyne uses open banking to power account-to-account payments for online businesses.

Hearst Ventures, a corporate venture fund, invests in early-stage information, software and technologycompanies whose recent investments include Truepic and Insurify.

https://www.crowdfundinsider.com/2021/09/180750-payments-fintech-vyne-reports-big-15-5-million-seed-round/

 

Re-Pie Asset Management Company invests $30M in Colendi

Colendi’s management noted that they aim to offer decentralized credit scoring and microcredit solutions. Colendi serves as an end-to-end or comprehensive white-label financial and microcredit platform. The firm’s flagship product is its blockchain or distributed ledger tech (DLT)-enabled intelligent credit scoring and fraud detection solution.

Colendi’s investment round has been led by Re-Pie Asset Management Company, a Turkey-based alternative asset management company.

Re-Pie is an asset management company whose recent investments include Arvis Games and Musixen.

https://www.crowdfundinsider.com/2021/09/180818-turkey-based-colendi-a-micro-lending-and-credit-scoring-fintech-secures-30m-via-series-a/
Meet us at:

South Summit, 5-7 Oct. 2021, Madrid
Web Summit, 1-4 Nov. 2021, Lisbon
SuperReturn International, 9-12 Nov. 2021, Berlin
FinTech Forum, 18 Nov. 2021, Frankfurt

Meet Our Partners: 

Heussen https://www.heussen-law.de
IDA Ireland https://www.idaireland.com
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Conversation opened. 1 read message.

7 Questions with Daragh Hanratty of IDA Ireland

We are proud to welcome Daragh and IDA Ireland as a partner of FinTech Forum 2021, taking place on 18th Nov. 2021 at the Airport Club, Frankfurt Airport / digital (depending on COVID restrictions).

1. Please tell us a bit about yourself, both at work and leisure.

I am VP for financial Services with IDA Ireland, the state agency responsible for FDI into Ireland. I am based in Frankfurt, have a keen interest in fitness and travel. During lockdown I took up running. I am currently working to improve my times for 5km and 10km park runs

2. What are your focus areas, overall and within the FinTech space?

I am focused on supporting Fintech companies that are growing and scaling.  Ireland has seen a strong development of its domestic and international fintech ecosystem and also a strong movement of banking and payments companies in recent months

3. Any recent deals or partnerships that you would like to share with us?

Industry disruptors are increasingly choosing Ireland for technology centres and  other functions including AML, KYC risk and compliance. Recent examples include Revolut, Stripe, Mastercard & Starling Bank.

4. Which are the trends to watch out for in the next 6-18 months?

We can expect to see continued success by unicorns in fundraising, growth in regulatory focus across Europe, continued growth of crypto and blockchain as it becomes more mainstream and continued growth of BNPL (buy now pay later) as it becomes more mainstream.

5. Your advice to European founders looking to scale up and raise funds?

Talk to us. IDA Ireland has over 70 years’ experience supporting companies to scale and our sister agency Enterprise Ireland also has seed capital which it can invest into European fintech companies

6. What’s on your bookshelf/ reading list?

A mixture of spy novels and sporting novels –  I am currently reading A perfect spy by John Le Carre and  have just finished The Dynasty by Jeff Benedict

7. Your favorite place for a coffee and/ or a drink?

I always try to go local café’s such and some favourites include Wacker Café in Frankfurt, Joe & the Juice in Copenhagen & Café Central, Sacher Café in Vienna

 

Featured Investors: Octopus Ventures, SIX FinTech Ventures, Mosaic Ventures etc. We feature Q&As with Viktor Stensson, CEO of Bokio and May Wang of Fin VC

Early stage European FinTech deals this week include Octopus Ventures (Integrated Finance), SIX FinTech Ventures (RegTech), Mosaic Ventures (Lightyear) etc. We feature Q&As with Viktor Stensson, CEO of Bokio and May Wang of Fin VC (who is among the investors on stage at the FinTech Forum 2021 on 18th Nov. in Frankfurt).

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Launching the 2nd edition of Scaling Enterprise FinTech | The Handbook (available from 8th Oct.)

We are excited to launch the 2nd edition of Scaling Enterprise FinTech | The Handbook in partnership with Money20/20 and SixThirty Ventures. The Handbook will be available to download on 8th Oct. Meantime, check out the Q&As with Oliver Werneyer (IMburse – Advanced Payments Integrator), David Putts (BillonViktor Stensson (BokioMay Wang (Fin Venture Capital) and Semih Kaçan (Swisscom Ventures) that will be part of the Handbook: http://www.fintechforum.de/sef/
Scaling Enterprise FinTech: with Viktor Stensson, CEO of Bokio
1. Tell us a bit about yourself and your company.

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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-viktor-stensson-ceo-of-bokio/

7 Questions with May Wang of Fin VC
1. Please tell us a bit about yourself, both at work and leisure.

I’m an investor at Fin VC, a B2B Fintech/Insurtech focused global venture capital, based out of San Francisco. Fin VC is a team of FinTech nerds with capital, based in SF/NYC and focus on FinTech SaaS in the US and EU/UK. We deploy out of 3 strategies: Regatta (pre-seed, checks of $100K-$1M), Flagship (Early Stage – Seed->B, checks of $1-10M) and Horizons (Growth – C+, checks of $25-50M+, primary/secondary) and have an operating value playbook focused on global BD, corp dev, capital formation, product/GTM, key talent sourcing, and board leadership.

Personally, I’m an avid traveler and a global citizen who has lived in 4 countries across 3 continents. When not at work, you’ll find me hiking/surfing in the summer and skiing in the winter. I’m also mentoring students from underrepresented communities, and an advisor at a Uganda-based NGO.

7-questions-with-may-wang-of-fin-vc

May is among the investors who will be sharing his insights on “what’s next in European FinTech” at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport /hybrid. Check out the agenda and register here: http://ftf2021.eventbrite.com 
Series-B-Finanzierung für XVA Blockchain GmbH aus Mainz

Das Start-up ermöglicht Beratungsdienstleistungen für Banken, Kapitalverwaltungsgesellschaften und Versicherungen sowie automatisierte Transaktionsprozesse.

Der Plattformanbieter XVA Blockchain aus Mainz erhält frisches Kapital: An Bord sind der Kryptoinvestor coinIX und die Investitions- und Strukturbank Rheinland-Pfalz über ihre Tochtergesellschaft, die Wagnisfinanzierungsgesellschaft für Technologieförderung in Rheinland-Pfalz mbH (WFT) aus Mitteln des Innovationsfonds Rheinland-Pfalz II.

CoinIX manages a portfolio of cryptocurrencies and assets whose recent investments include XVA Blockchain and FINEXITY AG.

https://www.vc-magazin.de/blog/2021/09/15/series-b-finanzierung-fuer-xva-blockchain-gmbh-aus-mainz/

 

Octopus Ventures among others invest £2M in Integrated Finance

Co-founded by Daniel Cronin, Koray Argun, and Alistair Cotton, Integrated Finance provides a platform that gives fintech companies and financial institutions of all sizes access infrastructure APIs to build embedded financial services at speed, to drive value from their existing technology, and their customer base.

The round was led by Octopus Ventures with participation from 500 Start-Ups, SuperSeed Ventures, and prominent Angels Chris Adelsbach, Srin Madipalli, and Jon Edirmanasinghe.

Octopus is a multi stage European venture capital investor specializing in health, money, deep tech, and consumer whose recent investments include Integrated Finance and OLIO.

https://www.finsmes.com/2021/09/integrated-finance-raises-2m-in-seed-funding.html

 

Profitable Fintech Wiserfunding Raises £3 Million

BGF’s funding was led by James Austin and Rowan Bird and as part of the deal, Austin will join Wiserfunding as director.

Currently, Wiserfunding serves around 60 customers across three continents, including a mix of bank and non-bank lenders, insurance firms, payment providers and asset managers.

Wiserfunding says its clients have lent almost £3 billion to SMEs in the last year.

https://www.crowdfundinsider.com/2021/09/180609-profitable-fintech-wiserfunding-raises-3-million/

 

SIX FinTech Ventures invests $8M in London based Crypto Regtech 

London-headquartered crypto Regtech firm Coinfirm reveals that it has finalized an $8 million Series A round. The company has also announced the appointment of Dr. Mircea Mihaescu as their new CEO.

Coinfirm’s investment round has been co-led by SIX Fintech Ventures, which is the corporate venture division of SIX, as well as FiveT Fintech, along with contributions from MiddleGame Ventures. Mission Gate and CoinShares.

SIX FinTech Ventures looks to invest in global early stage startups in the Fintech space whose recent investments include Tradeplus24 and Toqio.

https://www.crowdfundinsider.com/2021/09/180553-london-based-crypto-regtech-coinfirm-secures-8m-via-series-a-appoints-dr-mihaescu-as-ceo/

 

Mosaic Ventures with participation from other existing investors invest $8.5M in Lightyear 

Founded by ex-Wise duo Martin Sokk and Mihkel Aamer, Lightyear combines multi-currency accounts with access to global markets so customers can invest without hidden fees. The company has also launched the minimum viable product of its app which will give access to more than 1,000 global stocks. Lightyear will be onboarding customers from its waiting list. With its expansion plans already in play, the company is targeting H1 2022 for a pan-European launch.

The round was led by Mosaic Ventures with participation from existing investors Taavet+Sten and Metaplanet, as well as new angel investors including early Monzo backer Eileen Burbidge, Harsh Sinha, the CTO at Wise and Taavi Tamkivi, the CEO at Salv.

We back founders who are reimagining the world. We invest $1-10m early, in those building daring adventures across Europe whose recent investments include Zerion and AREX Markets.

https://www.finsmes.com/2021/09/lightyear-raises-additional-8-5m-in-seed-funding.html

 

Airbridge Equity Partners and other investors invests €13 million in Dutch investment app BOTS 

Founded in 2018, BOTS offers its users the opportunity to invest in various bots, a program that buys and sells based on trading algorithms with a specific strategy. There are now more than 250 bots on the platform. For now, these bots, which use their own strategies, only trade in cryptocurrencies – an interesting but highly volatile sector. The BOTS team expects to offer other types of assets before the end of the year. The Haarlem-based startup BOTS just closed its Series A funding round with €13 million from Amsterdam-based venture capital firm Airbridge Equity Partners and a group of informal investors.

Airbridge Equity Partners is a Venture Capital that focuses on scalable, technology-driven companies in the digital landscape whose recent investments include Roam.ai and ChannelEngine.

https://www.eu-startups.com/2021/09/dutch-investment-app-bots-secures-e13-million-in-funding-to-give-more-people-access-to-automated-trading-strategies/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eu-startups+%28EU-Startups%29

 

Sustainable fintech Tomorrow raises EUR14m

Founded in 2018, Tomorrow provides customers with conventional mobile banking services. However, the firm promises to use its customers money exclusively to invest in sustainable projects, rather than the dirty industries that it says normal banks target.

German sustainable fintech startup Tomorrow has raised €14 million in financing and outlined plans to secure another €5 million in a crowdfunding campaign.

The family office of the Hamburg Büll family, Abacon Capital, and Signavio founder and climate tech investor Torben Schreiter joined the round.

We embrace disruptive innovation and invest in exponential technologies & exponential organizations whose recent investments include Tomorrow and Wirelane.

https://www.finextra.com/newsarticle/38862/sustainable-fintech-tomorrow-raises-eur14m

 

Amsterdam-based fintech Ohpen raises €30M from Deutsche Bank to grow in the financial infrastructure space

Amsterdam-based Ohpen, a cloud-based SaaS core-banking platform, announced today that it has raised €30M in its growth capital. The fund was raised from Deutsche Bank in the Netherlands.

Deutsche Bank invested in the company because of Ohpen’s growing client base, strong business model, and market positioning around growth in the digitalisation of financial services.

The company was founded in 2009 by Chris Zadeh, Bas Wouwenaar, Erik Drijkoningen, and Ilco van Bolhuis. Built by former retail bankers, Ohpen aims to free banks from their legacy systems and processes.

Deutsche Bank, a Frankfurt-based global investment bank, offers financial products and services to corporate and institutional clients whose recent investments include eStruxture and Berlin Brands Group.

https://siliconcanals.com/crowdfunding/ohpen-raises-30m/

 

London FinTech MarketFinance raises £280m

Profitable firm accredited by British Business Bank as lender under Recovery Loan Scheme, having lent £250m to UK companies under CBILS.

Launched by the British Business Bank in April 2021, the Recovery Loan Scheme supports access to finance for UK businesses as they recover and grow following the pandemic.

Funding from the scheme can be used for any legitimate business purpose including managing cashflow, investment in new equipment and preparing for future growth.

The British Business Bank aims to make finance markets for smaller businesses work better whose recent investments include HalalBooking and MySense.

 

https://businesscloud.co.uk/blog/2021/09/21/london-fintech-marketfinance-raises-280m/
THE PATRONS PROGRAM IS THE HIGH INTENSITY TRAINING FOR FINTECH AND INSURTECH STARTUPS. FREE. INVESTOR READY IN TWO DAYS.

The Patrons Program is the condensed Fintech Accelerator of the Sparkassen Finanzgruppe in cooperation with Silicon Pauli and the support of KfW.

In just two days we get you investor-ready – with the help of the best experts from UX, Business, Product, Brand. Afterwards you can pitch your startup in front of professional investors and decision makers of Sparkassen Finanzgruppe. The winning team will work out the possibility of a cooperation project in a co-op discovery with the Sparkassen Innovation Hub.

Early-stage startups from the fintech and insurtech sectors can participate.
The application period runs until the 26th of September 2021.
More information and the link to the application form at: https://innovationdays.sparkassen-hub.com/de/patronsprogram

Money2020 Europe: 21-23 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown. This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-23 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Scaling Enterprise FinTech: with Viktor Stensson, CEO of Bokio

This interview is part of Scaling Enterprise FinTech | The Handbook, launched in Sep. 2021 in partnership with SixThirty Ventures and Money2020 Europe. Whether you are a founder with an idea, an early stage startup looking for inspiration and learnings, or an investor or financial institution looking to understand the difficult but rewarding journey to building a world-class Enterprise FinTech firm- download The Handbook.

1. Tell us a bit about yourself and your company.

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.

2. Give us the backstory- how did you get the founding idea, and how did the first sale come about?   

I met my co-founder Mikael Eliasson doing competitive orienteering whilst at university. At the time Mikael was working as a freelance engineer and one day asked for help with some accounting tasks. We quickly realised how incredibly difficult the tax filing system is to understand and that the available tools at our disposal weren’t good enough. We saw a great opportunity to modernize the entire industry by automating the process. This was the seed that eventually grew to become Bokio.

3. Could you summarize your journey to scale from a sales, go-to-market and business development perspective, perhaps split into 2-3 key phases?

We have always been very product and customer focused and used that as a growth factor. The world is getting smaller and smaller and great products with roaring fans is a great way to grow. We have just recently started to add traditional sales & marketing and it will be a great learning experience to see that evolve.

4. Which was the most challenging phase, and what would you have done differently?

Right now is always the most challenging phase, if that is not the case you either have too low ambitions or you are not pushing yourself hard enough. It is always great to take time to reflect on your historical mistakes and learn from them to avoid making the same one again but it is inevitable to make mistakes and you simply have to embrace them

5. When did you decide to expand to the international/ US market, and how?

Once we reached a large number of clients in our first market we wanted to make sure the technical solution was strong enough to handle several markets from a regulatory perspective going forward and we then decided to make a light launch in a new market to verify. We have been running everything from our home office and hence had a slim cost profile to ensure we run a lean ship also in overseas markets without losing control of culture etc.

6. When did you first decide to raise venture capital, and what has been your approach to financing growth over the years?

We did the first round when we felt ready for higher paced acceleration and already had a product and clients on board and was starting to understand the market dynamics. I think it’s important to not raise too early and to spend money in a good way.

7. How is building an Enterprise FinTech firm different from a “regular” SaaS / Enterprise Tech company, and what three things should founders get right?

At the end of the day the customer is the important one independent of type of business. We still have to be extremely customer focused and create proper customer value to stay relevant. Then you have a regulatory layer you have to respect but at the end of the day there is only really one thing to get right and that is the customers experience and happiness.

8. What’s on the priority list for you and your team for the next year?

Continue to grow and build even stronger relationships with our clients in existing geographies.

9. Where is the financial services sector headed in the next 12-18 months, and what should we be watching out for?

I’d say automation is still the key factor in disrupting big industries, both now and in the future. Users and customers expect automation today, especially in bookkeeping and accounting. This will require us as well as incumbents to invest heavily to remain competitive as the customer expects this experience to follow what is happening in the B2C space. I think there will be some interesting unholy alliances coming up from players who need to make bold moves to not fall behind

10. Your favorite place(s) for a meal, coffee or drink (pre-/ post-COVID19)?

I really enjoy cooking at home with some friends over a good bottle of wine. Work can be quite intense and it is good to have some time off at home with your friends to recover.

Featured Investors: Cysero, Volta Ventures, Haerlem Capital etc. Q&As: Gabriel (Wequity), David Putts (Billon) and Semih (Swisscom Ventures)

Early stage European FinTech deals this week include Cysero (4Securitas), Volta Ventures (Sprinque), Haerlem Capital (Peaks) etc. We feature Q&As with Gabriel Levie of Wequity, David Putts of Billon and Semih Kacan of Swisscom Ventures (who is among the investors on stage at the FinTech Forum 2021 on 18th Nov. in Frankfurt).

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.
Q&A with David Putts, Chief Growth Officer, Billon
1. Tell us a bit about yourself and your company.

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). The system, designed for maximum throughput and low cost of maintenance, meets regulatory requirements and solves challenges for the wide adoption of blockchain technologies. As a result of this innovation, we are now moving past the early commercialisation stage, and we have over 20 clients.

Before joining Billon I was a challenger bank leader.  I founded or ran two challenger banks, building them from scratch – Inteligo in Poland and Equa in Czechia – and I also became a payment expert with several years of experience in both Barclays and HSBC. The passion for challenging the status quo has always been in my blood, even during my early years as a consultant at McKinsey, so you could say that I have been fighting for change during my entire 30-year career.

http://www.fintechforum.de/qa-with-david-putts-chief-growth-officer-billon/

 

7 Questions with Semih Kacan of Swisscom Ventures

1. Please tell us a bit about yourself, both at work and leisure

My name is Semih Kacan, and I am Investment Manager at Swisscom Ventures. I’ve joined Swisscom Ventures at the beginning of 2021 to strengthen the Fintech and Blockchain allocation in the portfolio. Prior to Swisscom Ventures I spent over 10 years in Strategy Consulting, Corporate Strategy, Business Development and Asset Management at Credit Suisse, BearingPoint and Haspa before I co-founded and successfully exited my venture in Zurich. I hold a Master Degree in Corporate Finance from Henley Business School.

I enjoy the time with friends and family and a cup of coffee on sunny days at the beautiful Zurich Lake but also like reading books and watching videos to educate myself about upcoming trends/technologies.

http://www.fintechforum.de/7-questions-with-semih-kacan-of-swisscom-ventures/

Semih is among the investors who will be sharing his insights on “what’s next in European FinTech” at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport /hybrid. Check out the agenda and register here: http://ftf2021.eventbrite.com 

 

7 Questions with Gabriel Levie of Wequity

1. Please tell us a bit about yourself, both at work and leisure.

I was born and raised in Belgium and was lucky to have a Dutch-speaking mother and French-speaking father, which means I speak both languages fluently. Before starting Wequity I completed my undergraduate studies in Economics and Philosophy in the UK. Since 2019 I have been back in Belgium.

With my cofounder Franck we launched Wequity in February 2021, and we have been working full time with a team of 5 people. On the side I run, climb, and play the piano.

7-questions-with-gabriel-levie-of-wequity

Wequity is among the startups selected to present at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport/ hybrid. Check out the agenda and apply / register here: http://ftf2021.eventbrite.com 

 

Irish cybersecurity start-up 4Securitas has secured a €2m investment from an Italian venture capital firm called Cysero

Dublin-based 4Securitas was founded by Donal Kerr and Stefan Umit Uygur in 2017. Its flagship product is the Automated Cybersecurity Interactive Application (ACSIA), which is designed to “complement a traditional perimeter security model” and “stop cyberthreats at the pre-attack phase”.

The capital comes from Cysero, a €100m fund announced last year that specialises in cybersecurity, AI and robotics, operated by investment firm AVM Gestioni. The Cysero fund is a backer of RoboIT, the Italian technology transfer hub for robotics in Rome.

Founded in 2020, Cysero is a venture capital firm based in Italy. The firm prefers to invest in the humanoid robotics and cybersecurity solutions.

https://www.siliconrepublic.com/start-ups/4securitas-2m-investment-italy

 

Volta Ventures and other Investors invest €1.7M in Sprinque 

Amsterdam-headquartered Sprinque, a checkout service provider, has reportedly secured €1.7 million in capital from Volta Ventures, Force Over Mass and several angel investors and payments industry professionals.

Established this year, Sprinque has created seamless digital checkout infrastructure in order to make business transactions as easy as ordering from a consumer shop online. Their software-as-a-service or SaaS solution requires just a single integration and provides several different options for businesses. These include pay with net 30-, 60-, and 90-day terms, split or installment payments, and pay on milestones services.

Volta Ventures is a venture capital firm that offers seed & early stage VC for internet & software companies in the Benelux whose recent investments include Ubuntoo and Kwarts.

https://www.crowdfundinsider.com/2021/09/180259-amsterdam-fintech-sprinque-a-digital-checkout-service-provider-acquires-e1-7m-from-volta-ventures-others/

 

Haerlem Capital and Rithmeester invest €5 million in Peaks

The Dutch investing platform Peaks has just received €5 million in growth capital from Haerlem Capital and Rithmeester. With the new capital, Peaks will to invest in its growth and product development to reach a broader target group in the Netherlands and Germany. To make this transaction possible, previous investors Rabobank Frontier Ventures (RFV) is selling its stake to Haerlem Capital & Rithmeester.

Peaks was founded in 2016 and launched in 2017 as a platform for first-time investors and millennials. Within four years, the platform had grown to include more than 130,000 active users in the Netherlands and Germany. Peaks stands out from its competitors by enabling its users to invest small amounts. Now, the company is ready to take the next step in its growth.

Haerlem Capital is a private holding firm, in the regulated financial tech sector.

https://www.eu-startups.com/2021/09/amsterdam-based-investing-platform-peaks-has-received-e5-million-in-growth-capital-to-grow-beyond-the-netherlands-and-germany/

 

Partech invests $45 million in Billogram

Payments made a huge shift to digital platforms during the COVID-19 pandemic — purchasing moved online for many consumers and businesses, and a large proportion of those continuing to buy and sell in-person went cash-free. Today a startup that has been focusing on one specific aspect of payments — recurring billing — is announcing a round of funding to capitalize on that growth with expansion of its own. Billogram, which has built a platform for third parties to build and handle any kind of recurring payments (not one-off purchases), has closed a round of $45 million.

The funding is coming from a single investor, Partech, and will be used to help the Stockholm-based startup expand from its current base in Sweden to six more markets, Jonas Suijkerbuijk, Billogram’s CEO and founder, said in an interview, to cover more of Germany (where it’s already active now), Norway, Finland, Ireland, France, Spain and Italy.

https://techcrunch.com/2021/09/13/billogram-provider-of-a-payments-platform-specifically-for-recurring-billing-raises-45m/

Tiger Global and Baleen Capital invest $155M in Scalapay

The round, which brought the total amount raised to date to $203m, was led by Tiger Global, with participation from Baleen Capital and Woodson Capital, which joined existing investors Fasanara Capital and Ithaca Investments.

Founded in 2019 by Simone Mancini and Johnny Mitrevski, who were joined in the early stages by Raffaele Terrone, Daniele Tessari and Mirco Mattevi, Scalapay is an innovative payment solution for ecommerce merchants across the globe that allows customers to buy now and pay later, in three convenient installments, without interest.

Tiger Global Management is an investment firm that deploys capital globally in both public and private markets whose recent investments include strongDM and VERSATILE.

https://www.finsmes.com/2021/09/scalapay-raises-155m-in-series-a-funding-at-a-700m-valuation.html

THE PATRONS PROGRAM IS THE HIGH INTENSITY TRAINING FOR FINTECH AND INSURTECH STARTUPS. FREE. INVESTOR READY IN TWO DAYS.

The Patrons Program is the condensed Fintech Accelerator of the Sparkassen Finanzgruppe in cooperation with Silicon Pauli and the support of KfW.

In just two days we get you investor-ready – with the help of the best experts from UX, Business, Product, Brand. Afterwards you can pitch your startup in front of professional investors and decision makers of Sparkassen Finanzgruppe. The winning team will work out the possibility of a cooperation project in a co-op discovery with the Sparkassen Innovation Hub.

Early-stage startups from the fintech and insurtech sectors can participate.
The application period runs until the 26th of September 2021.
More information and the link to the application form at: https://innovationdays.sparkassen-hub.com/de/patronsprogram

Money2020 Europe: 21-23 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown. This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-23 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

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Scaling Enterprise FinTech: with David Putts, Chief Growth Officer, Billon

This interview is part of Scaling Enterprise FinTech | The Handbook, launched in Sep. 2021 in partnership with SixThirty Ventures and Money2020 Europe. Whether you are a founder with an idea, an early stage startup looking for inspiration and learnings, or an investor or financial institution looking to understand the difficult but rewarding journey to building a world-class Enterprise FinTech firm- download The Handbook.

1. Tell us a bit about yourself and your company.

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). The system, designed for maximum throughput and low cost of maintenance, meets regulatory requirements and solves challenges for the wide adoption of blockchain technologies. As a result of this innovation, we are now moving past the early commercialisation stage, and we have over 20 clients.

Before joining Billon I was a challenger bank leader.  I founded or ran two challenger banks, building them from scratch – Inteligo in Poland and Equa in Czechia – and I also became a payment expert with several years of experience in both Barclays and HSBC. The passion for challenging the status quo has always been in my blood, even during my early years as a consultant at McKinsey, so you could say that I have been fighting for change during my entire 30-year career.

3. Give us the backstory- how did you get the founding idea, and how did the first sale come about?

Billon’s founder, Andrzej Horoszczak, provides the deep tech inspiration and vision for a new blockchain. Early in 2010, after leaving his banking security career to be the CEO of a health & wellness portal offering health news and articles, he faced the problem that while he could turn eyeballs into income, he couldn’t monetize individual articles. The cost of processing a bank transfer was simply higher than the size of a small payment for an article itself. It was early days for bitcoin and many promised this as a micropayment solution. But when Andrzej looked more closely, his technical background led him to drill into the code base with an expertise that few possessed. He realized even then that while a distributed architecture would be revolutionary, the underlying power consumption and the lack of regulatory controls – problems which are widely known right now – would always frustrate adoption. So he quit his job, and decided to fix those problems.

Andrzej assembled a team of experts and scientists, and consulted with former regulators.  After completing the invention of a set of new basic principles for distributed ledger technology, he was ready to start the company. Together with the cofounder Robert Kałuża, head of strategic analysis at Orange bureau in Warsaw, they started to build the technology.

After years of work as an R&D project, Billon Group was incorporated in December 2015 in London to commercialise the technology.  The remainder of the board joined soon after, including myself who led the effort to move the HQ to London and to secure fundraising and international partnerships. Jacek Figuła from Cisco joined a couple of years later to drive commercialisation.  And in January 2019, Wojtek Kostrzewa, a seasoned C-level executive with almost 30 years of experience in leading banks and media, joined as CEO to allow Andrzej to focus fully on the technology as CTO and Chief Visionary Officer. Today, the company is based in London, but retains its Polish roots as the majority of the staff work in the R&D center in Poland.

Our first sale was to Philip Morris International which was looking for a streamlined business solution for the merchandising reward program to independent retailers. Billon provided PMI with an end-to-end direct payout system using digital cash which brought 25% cost savings and reduced unspent benefits by 80% through digital engagement of retailers.

3. Could you summarize your journey to scale from a sales, go-to-market and business development perspective, perhaps split into 2-3 key phases?

Bruce Tuckman in 1965 authored the concept that every company has to go through the 4 stages of forming, storming, norming, and performing. For Billon as a deep tech company with dozens of programmers, the first two stages take longer than they might for a company who is, for example, selling face masks.

Just recently we completed the major milestone of a full integration of code bases which were developed for fiat cash and for document management. The regulatory challenges of managing identity and privacy are more complex than most people realize, as the cryptocurrency world can obviously ignore such regulations. So in my mind, this is the milestone that signals the end of the storming phase, and we are now entering the norming phase, with a strong set of investors and over 20+ clients.

 

4. Which was the most challenging phase, and what would you have done differently?

Our main challenge was that the 1st world-wide use case for blockchain was cryptocurrency.   It was nearly impossible to separate blockchain technology from crypto due to the buzz and hype linking the two.  So many companies jumped into blockchain to do crypto that it was nearly impossible at that time to point to use cases where the technology could be deployed without it. So how to argue that the world also needs blockchain without crypto, when bitcoin prices were soaring?

I have to note that Billon did not pursue the “easy” money available by issuing a crypto coin, as we were in the application process for payment licenses.  We could not argue that we were committed to be compliant if we had pursued an ICO. Also, during this time, we won several Polish and EU grants, which kept our focus on R&D rather than commercialisation.   And then there was the pandemic, when companies slowed spend on technology.

All of which brings us to today. However, with the insights I have now, if I jumped into a time machine with the ability to do things differently, I would not change much. We see now that the market has changed. Regulators want digital national currency and blockchain, and we made the right decision to pursue this path and wait for the market to be ready for us.

5. When did you decide to expand to the international/ US market, and how?

International expansion was our focus from day 1. Any solution which would improve the global infrastructure for payments and data exchange must be global in its scope as well. To help the expansion we established our HQ in London, as it is a global fintech centre. We also recruited an international Advisory Council, with senior figures from world’s top commercial hubs, like New York and Shanghai.

In 2018, we won entry into FIS’s Venture Center accelerator program, and with both their assistance as the global banking IT firm and investment  we are always looking into the US (and other markets) for opportunities.

6. When did you first decide to raise venture capital, and what has been your approach to financing growth over the years?

We started raising capital almost immediately, with a number of micro-funds and FIS/Worldpay’s investment joining in our seed round(s) of just over $2M raised through 2018. When our new CEO, Wojtek Kostrzewa, joined in early 2019, he and our strong base of angel and small fund investors made an early commitment to drive the financing round, followed by a number of reputable international private investors. The round was complemented by FIS as Billon serves them as a client and we maintained a relationship with FIS following graduation from the Venture Center acceleration program. We concluded Series A with a $6M result in March 2020 – a remarkable achievement given the COVID-19 pandemic shock.

7. How is building an Enterprise FinTech firm different from a “regular” SaaS / Enterprise Tech company, and what three things should founders get right?

An enterprise fintech firm provides a platform that supports tailored solutions for individual clients more often than a ready product. This is in contrast to a SaaS company which more often provides the same product to many customers, and services its few products for many.  So it makes sense for blockchain companies to more often focus on enterprise solutions, as the maturity of products and use cases are still evolving.

What founders of enterprise technology need to get right is to understand the difference between “consultative” solutions and a product. In short, a consultative solution involves solving a client’s problem in a collaborative manner where the client is covering the cost of development with paid fees. On the other hand, a product doesn’t generate revenues until it is finished. So a product requires upfront investment.

These two approaches – a consultative solutions approach, and product-oriented approach – dictate differences in required skill sets, team structures, and even sales (as selling to client needs is different than selling from a product battlecard).

All the other points about what a founder should get right are universal for most start-ups.  If you hire great people and remain focused on delivering a compelling value proposition to clients, it is far easier to raise money.

8. What’s on the priority list for you and your team for the next year?

As a Unified platform, which unifies national currency and documents, we have initiatives in both categories. For regulated digital cash, we are launching a showroom environment which would allow anyone to experience one of the possible use cases of the system, i.e business to consumer incentive payouts as well as the use of regulated digital cash for merchant services payments.  With regards to documents and non-cash assets, we are participating in developing EBSI, the EU-sponsored European Blockchain Services Infrastructure.

Our long term goal is opening the platform to third parties (fintechs, software companies, consultancies, consortiums, etc.), by providing necessary tools (API, SDK, code documentation) to create independent solutions. The Unified Enterprise DLT can then become the backbone for all kinds of enterprise applications and unleash the transformational capabilities of blockchain in the paperless and tokenized economy.

9. Where is the financial services sector headed in the next 12-18 months, and what should we be watching out for?

Digital national currency applications – both regulated and unregulated – will continue to reshape the underlying premise of how financial services and payments can be conducted. We should watch out for central banks running advanced pilot projects of CBDC (central bank digital currency) and discussing the feasibility of its full-scale implementation. At the same time other players – fintechs, commercial banks and other financial institutions – will explore the use of digital currencies under current regulations, not waiting for the great CBDC reveal, but also looking to overcome crypto limitations.

10. Your favorite place(s) for a meal, coffee or drink (pre-/ post-COVID19)?

I love many restaurants in the UK, though I would say that when I am in Canary Wharf, I tend to frequent Rocket.When I visit Money 20/20 in Amsterdam, Supperclub is often my choice for the evening.

 

7 Questions with Gabriel Levie of Wequity

Wequity is among the startups selected to present at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport/ hybrid. Check out the agenda and apply / register here: http://ftf2021.eventbrite.com 

1. Please tell us a bit about yourself, both at work and leisure.

I was born and raised in Belgium and was lucky to have a Dutch-speaking mother and French-speaking father, which means I speak both languages fluently. Before starting Wequity I completed my undergraduate studies in Economics and Philosophy in the UK. Since 2019 I have been back in Belgium.

With my cofounder Franck we launched Wequity in February 2021, and we have been working full time with a team of 5 people. On the side I run, climb, and play the piano.

2. Which product or service do you offer, and who are your competitors?

Wequity monitors social media and news to provide real-time ESG insights on companies. We differentiate ourselves by including social media, providing real-time ESG data feeds, and orienting our coverage on small- and mid-cap companies in order to satisfy the unmet needs.

There are many incumbent players on the market,  but we are convinced that there is room for innovation and new players to enter by finding their niche.

3. How did you get the business idea and take it from launch to the first customers?

Driven by societal impact, we spent the past 18 months trying to understand how investors and companies were evaluating sustainability by meeting people, reading, and educating ourselves. We started realizing that this type of data is generally based on what companies disclose themselves, which means that it is accessible on an annual basis. More and more we see that investors would like to have information regarding smaller companies, on a more frequent basis, and based on alternative data sources (i.e. not solely based on company disclosure). We hope that we’ll be able to help investors and companies gain a more comprehensive view of ESG (Environment, Social, Governance) activities with the data we gather. We have just launched the beta and have been testing with a variety of potential clients to get their feedback and improve our data insights.

4. How have you financed your startup? Any lessons would you like to share from the fund-raising journey?

We first set up a side-business through which we built websites and mobile apps for companies. Even though this had nothing to do with our core business, this enabled us to raise the first funds to get going. We then quickly moved to a pre-seed round with business angels and a public subsidy which has given us the first real funding round to set up the team and have a runway for 12+ months. One crucial question we considered was: “what type of expertise and contribution do we want to have around the table?” This enabled us to have a very targeted and relevant fundraising strategy since we knew what type of people we wanted to join our adventure.

5. Which are the key trends and opportunities in (European) financial services?

A few that I have in mind:

  1. European regulation keeps tightening, bringing lots of opportunities to help for the compliance.
  2. The digitalisation of banks is happening massively, you see it with Revolut, N26, Monzo, and many others.
  3. There is an immense need to finance sustainable transition projects to decarbonise our economies.

6. What’s on your bookshelf/ reading list?

Right now I’m reading “Essays on Liberty” by Isaiah Berlin. It brings me back to my philosophy classes during my bachelor’s in the UK since he addresses famous questions such as: “do we have free will ?”

I just finished “The Plague” by Albert Camus. This latter book was very strong, and I could relate to it in many ways from our pandemic experience the last two years.

Next will probably be “Silence is my mother tongue” by Sulaiman Addonia. I just went to the book presentation in Brussels with the author himself, and I’m looking forward to getting immersed in his work.

7. Your favorite place for a coffee and/ or a drink?

There is a very nice café in the centre of Brussels, on the Place Sainte Catherine: Café De Markten. You can go inside to be quieter and work or read, or you can go outside on the terrace for a drink in the sun.

Featured Investors this week: Praetura Ventures (BankiFi), Nauta Capital (trustshare), Anthemis Group (Balance Re) etc. We feature Q&As with Korbinian Spann of Insaas.ai and Semih Kacan of Swisscom Ventures

Early stage European FinTech deals this week include Praetura Ventures (BankiFi), Nauta Capital (trustshare), Anthemis Group (Balance Re) etc.  We feature Q&As with Korbinian Spann of Insaas.ai and Semih Kacan of Swisscom Ventures (who is among the investors on stage at the FinTech Forum 2021 on 18th Nov. in Frankfurt).

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

7 Questions with Semih Kacan of Swisscom Ventures

1. Please tell us a bit about yourself, both at work and leisure

My name is Semih Kacan, and I am Investment Manager at Swisscom Ventures. I’ve joined Swisscom Ventures at the beginning of 2021 to strengthen the Fintech and Blockchain allocation in the portfolio. Prior to Swisscom Ventures I spent over 10 years in Strategy Consulting, Corporate Strategy, Business Development and Asset Management at Credit Suisse, BearingPoint and Haspa before I co-founded and successfully exited my venture in Zurich. I hold a Master Degree in Corporate Finance from Henley Business School.

I enjoy the time with friends and family and a cup of coffee on sunny days at the beautiful Zurich Lake but also like reading books and watching videos to educate myself about upcoming trends/technologies.

http://www.fintechforum.de/7-questions-with-semih-kacan-of-swisscom-ventures/

Semih is among the investors who will be sharing her insights on “what’s next in European FinTech” at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport /hybrid. Check out the agenda and register here: http://ftf2021.eventbrite.com 

7 Questions with Korbinian Spann of Insaas.ai

1. Please tell us a bit about yourself, both at work and leisure.

My name is Korbinian, I’m the founder and managing director of Insaas.ai. Our company and I are based in Munich, Germany. I have one son, live in the countryside and love sports like cycling, sailing, running and hiking. As Insaas.ai is a remote-first team, I´m used to working with my team every day via Zoom, Slack and Google. I love being an entrepreneur and work in a team on difficult problems. The understanding and processing of languages is my favorite topic since my studies (Arabic, Hebrew). I enjoy digital marketing and communication, as an expert and as a lecturer at Steinbeis SMI. I’m open minded, curious, and full of positive energy.

http://www.fintechforum.de/7-questions-with-korbinian-spann-of-insaas-ai/

Insaas.ai is among the startups selected to present at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport/ hybrid. Check out the agenda and apply / register here: http://ftf2021.eventbrite.com 

Praetura Ventures and Greater Manchester Combined Authority invest £2.2M in BankiFi

Founded by Mark Hartley (CEO), BankiFi provides a technology platform that enables banks to provide a set of integrated services, including invoicing, payments, cash management and accounting, which are designed to help businesses reduce time spent on financial administration.

Praetura Ventures have been supporting SMEs since 2011, raising capital and investing in the early stages of business life cycles whose recent investments include Peak and Culture Shift.

bankifi-raises-2-2m-in-funding.html

Nauta Capital invests £2.3M in trustshare

Founded in 2020 by Nick Fulton (CEO and co-founder) and Joe Harlow (CTO and co-founder), trustshare provides a fintech building borderless escrow infrastructure that enables non-transactional marketplaces, online classified, B2B and tradesperson directories to offer escrow payments to their customers safely.

Nauta Capital is a pan-European Venture Capital firm investing in early stage technology companies whose recent investments include Treblle and airfocus.

https://www.finsmes.com/2021/09/trustshare-raises-2-3m-in-funding.html

Anthemis Group, with participation from Global Brain, Roland Berger Industries GmbH and Talabot Finance invest $10M in Balance Re

Led by two founders Lucian Rautu and Michel Gauer, Balance Re provides comprehensive reinsurance solutions to life insurance companies and pension funds to support capital management related to their retirement and savings products. Its technology and data-driven approach enables its clients to free up capital to finance their growth, support product repositioning and improve (or regain) competitive advantage.

Anthemis Group is a global venture firm investing in fintech and insurtech that cultivates change in the financial system whose recent investments include Joshin and Flat.mx.

https://www.finsmes.com/2021/08/balance-re-raises-10m-in-series-a-funding.html

BP Ventures invests $11.9M in in-car payments provider Ryd to support expansion

Ryd’s service allows users to lump together online payments for services like fuel purchases, EV charging and car washing via the startup’s app or integration with smart car systems. BP already offers digital payment options in the U.K. and the Netherlands through its BPme app. As part of its investment and partnership with Ryd, the legacy company hopes to expand its digital offerings as it learns from the startup’s secure and flexible digital payment options. Ryd will get the benefit of scaling its technology to BP customers across Europe.

BP Ventures is a venture capital firm that identifies and invests in private and high-growth technology companies whose recent investments include Cold Bore Technology and IoTecha.

https://techcrunch.com/2021/09/06/bp-ventures-invests-11-9m-in-in-car-payments-provider-ryd-to-support-expansion/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

Connected Capital and Iris Capital invest €12.2M in Dutch startup SurePay 

David Jan Janse, CEO and CO-Founder of SurePay, said: “We are on a mission to protect both our clients and their customers against the growing threat of fraud worldwide, giving them the reassurance that their payments are going to the intended recipient also cross-border and multi-domestic.”

Based out of Amsterdam, Connected Capital is a Venture Capital & Private Equity firm that teams up with leading European B2B SaaS companies whose recent investments include Foleon and Brella.

https://siliconcanals.com/news/startups/dutch-startup-surepay-gets-12-2m/

BlackFin Capital Partners, Partech, Aglaé Ventures and RAISE Ventures invest €20M in Mooncard

Led by Tristan Leteurtre (CEO, ex-VLC, Anevia), Damien Metzger (CTO, ex-Prestashop) and Pierre-Yves Roizot (CFO, ex-Vente-Privée), Mooncard is a leader in smart corporate cards. The Mooncard card can be used to pay for any corporate expense (business expenses, online purchases, subscriptions) and to automate the administrative management (pre-filling of data, storage of receipts, accounting treatment).

BlackFin Capital Partners is a fully independent private equity and venture capital firm focusing on Financial Services whose recent investments include FINLEX and HAWK:AI.

https://www.finsmes.com/2021/09/mooncard-raises-e20m-in-funding.html

Vic.ai Raises $50M in Series B Funding

Led by Alexander Hagerup, CEO, Vic.ai provides an AI platform for autonomous accounting and financial intelligence, which adds artificial intelligence, computer vision and autonomous approval flows to a company’s back-office financial operations. The platform intelligently learns from historical data and existing processes to deliver what it calls an “Autopilot” for invoice processing and other functions.

The round, which brought total capital raised to date to $63m, was led by by ICONIQ Growth with participation from existing investors GGV Capital, Cowboy Ventures and Costanoa Ventures. In conjunction with the funding, Will Griffith, founding partner at ICONIQ Growth, joined Vic.ai’s board.

ICONIQ Growth is a tech-focused venture capital investment firm that partners with entrepreneurs whose recent investments include Monte Carlo and Reify Health.

https://www.finsmes.com/2021/09/vic-ai-raises-50m-in-series-b-funding.html
Money2020 Europe: 21-23 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown. This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-23 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Featured Investors: Index Ventures, Requr, Benson Capital Partners. We feature Q&As with Aisot, Fin VC, Imburse Payments

Early stage European FinTech deals this week include Index Ventures (Taktile), Requr, Benson Capital Partners (Prepaid2Cash). We feature Q&As with Stefan Klauser of Aisot and May Wang of Fin VC (who is among the investors on stage at the FinTech Forum 2021 on 18th Nov. in Frankfurt) and Oliver Werneyer of Imburse Payments (who is among the scale-up founders featured in our upcoming publication: Scaling Enterprise FinTech | The Handbook – Sep. 2021)

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

7 Questions with May Wang of Fin VC

1. Please tell us a bit about yourself, both at work and leisure.

I’m an investor at Fin VC, a B2B Fintech/Insurtech focused global venture capital, based out of San Francisco. Fin VC is a team of FinTech nerds with capital, based in SF/NYC and focus on FinTech SaaS in the US and EU/UK. We deploy out of 3 strategies: Regatta (pre-seed, checks of $100K-$1M), Flagship (Early Stage – Seed->B, checks of $1-10M) and Horizons (Growth – C+, checks of $25-50M+, primary/secondary) and have an operating value playbook focused on global BD, corp dev, capital formation, product/GTM, key talent sourcing, and board leadership.

Personally, I’m an avid traveler and a global citizen who has lived in 4 countries across 3 continents. When not at work, you’ll find me hiking/surfing in the summer and skiing in the winter. I’m also mentoring students from underrepresented communities, and an advisor at a Uganda-based NGO.

7-questions-with-may-wang-of-fin-vc

May is among the investors who will be sharing her insights on “what’s next in European FinTech” at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport /hybrid. Check out the agenda and register here: http://ftf2021.eventbrite.com 

7 Questions with Stefan Klauser of Aisot

1. Please tell us a bit about yourself, both at work and leisure.

Hi, I am Stefan, Co-Founder & CEO at Aisot Technologies. We are a leading provider of real-time insights for trading and asset management. I always had a passion for both entrepreneurial work and predictive tools. The Oracle of Delphi was by far the coolest thing in Latin class. And my first business I „founded” as a kid, when selling cherries from our garden on our village’s streets. In my free time, I like to be in nature or sing. I have played in rock bands since I was a teenager.

7-questions-with-stefan-klauser-of-asiot

Aisot is among the startups selected to present at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport/ hybrid. Check out the agenda and apply / register here: http://ftf2021.eventbrite.com 

Scaling Enterprise FinTech: with Oliver Werneyer of Imburse Payments

1. Tell us a bit about yourself and your company.

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. By connecting to us, our clients can quickly deploy any payment provider or solution, in any market, for collection or payout with no IT project or resources required. We are a technology partner that allows companies to transform, digitalise and modernise more efficiently and more quickly.

http://www.fintechforum.de/scaling-enterprise-fintech-with-oliver-werneyer-of-imburse-payments/

Oliver is among the founders featured in the upcoming publication Scaling Enterprise FinTech | The Handbook, launching in Sep. 2021 in partnership with SixThirty Ventures and Money2020 Europe.
Index Ventures steigt bei diesem Berliner Saas–Startup Taktile ein

Daten sind die neue Währung, auch in der Finanzbrache.

Die Software des Fintechs Taktile soll Banken und Versicherer helfen, ihre Kunden besser einschätzen zu können.

Das Fintech Taktile sammelt in einer Seed-Finanzierungsrunde 4,7 Millionen US Dollar, also umgerechnet knapp vier Millionen Euro, ein.

Lead-Investor ist der Londoner Wagniskapitalgeber Index Ventures, dessen Geld bereits in Startups wie Personio und Revolut geflossen ist.

Ebenfalls beteiligt an der Runde ist der Y Combinator, das renommierte Accelerator-Programm aus dem Silicon Valley, der Londoner VC Firstminute Capital sowie diverse Business Angels wie etwa die Gründer der Plattformen Github und Uipath.

Index Ventures ist eine Risikokapitalgesellschaft, die Unternehmern dabei hilft, kühne Ideen in globale Unternehmen zu verwandeln. Zu den jüngsten Investitionen gehören Monad und Moises.

https://www.businessinsider.de/gruenderszene/news/index-taktile-seed/

Amsterdam-based Requr raises €5M to help European SaaS companies with non-dilutive growth financing

Requr, an Amsterdam-based growth funding platform, has raised €5M in growth capital from a group of experienced investors. The company didn’t disclose the name of the investors.

Focusing on SaaS companies, the Dutch startup aims to eliminate cash flow problems and provides upfront capital without dilution.

According to Tom van Wees, co-founder and CEO of Requr, investment costs outweighing benefits is the big challenge for fast-growing technology companies.

“As an entrepreneur, you have to invest a lot — in key talents, in the sales and marketing engine, and also in your product — before full turnover is realised. To have cash available sooner, some SaaS companies offer up to a 30 per cent discount to customers who pay their subscription fees in advance. Requr’s financing model largely solves this cash flow problem, which is a critical growth barrier for SaaS companies,” he says.

https://siliconcanals.com/news/startups/amsterdam-requr-raises-5m/

Benson Capital Partners invest in Prepaid2Cash

That stack of random gift cards in your wallet could be turned directly into cash in your bank account, thanks to a Birmingham-based startup.

That positive tailwind recently led to a $5.1 million Series A funding round. Benson Capital Partners, a venture capital firm backed by NFL New Orleans Saints and NBA Pelicans owner Gayle Benson, led the round and was joined by Nashville-based Relevance Ventures and Alabama Futures Fund.

The Series A brings Prepaid2Cash’s investment total to date to  $7.2 million.

Benson Capital is Toronto’s first choice for mortgage investments and real estate financing whose recent investments includes Tado.

https://hypepotamus.com/news/prepaid2cash-series-a-birmingham/

Paradigm among other Investors invest $8 million in London based  Euler

Led by co-founder Michael Bentley, and co-founders, Jack Prior and Doug Hoyte, Euler provides a capital-efficient permissionless lending protocol that helps users to earn interest on their crypto assets or hedge against volatile markets without the need for a trusted third-party.

The round was led by Paradigm with participation from Lemniscap, Anthony Sassano, Ryan Sean Adams, Kain Warwick and Hasu.

Paradigm primarily invests in crypto-assets and businesses from the earliest stages of idea formation through to maturity whose recent investments include Royal and Fractional.

https://www.finsmes.com/2021/08/euler-raises-8m-in-series-a-funding.html

African-focused payments firm pawaPay has raised a $9m Seed funding led by UK-based investment fund 88mph

Founded in 2020, pawaPay is focused on the mobile money infrastructure provided by telecommunications companies (telco) in Africa. Each telco in each country provides its own unique mobile money product, which makes the mobile money infrastructure as a whole  – across borders and telcos – highly fragmented and opaque.

African-focused payments firm pawaPay has raised a $9m Seed funding led by UK-based investment fund 88mph. Vunani Capital,  Kepple Ventures, MSA and Zagadat Capital also participated in the round.

88mph invests in early-stage web and mobile companies in the African market whose recent investments include Ahoy and DavtonLearn.

https://techtrendske.co.ke/african-focused-payments-firm-pawapay-raises-9m-seed-funding/

Target Global, Partech Ventures and Avid Ventures invest €32 million in elopage

elopage was founded in 2015 by Özkan Akkilic and Tolga Önal with the mission of empowering and enabling digital entrepreneurs to launch and scale their online businesses by selling digital products, courses, memberships, and subscriptions.

Today elopage, a fast-growing SaaS platform and payment provider for digital entrepreneurs, creators, SMEs and enterprise businesses, has announced the successful completion of its funding round of €32 million to empower digital businesses at all stages of growth. The Series A funding, which is the SaaS company’s first-ever round, is backed by leading tech investors including lead investor Target Global as well as France-based Partech Ventures and US-based Avid Ventures.

Target Global is a venture capital firm that invests in tech companies across their lifecycles whose recent investments include Plentiful and Fuse Autotech.

https://www.eu-startups.com/2021/08/berlin-based-elopage-raises-e32-million-for-its-all-in-one-microservices-platform-for-entrepreneurs

Money2020 Europe: 21-23 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown. This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-23 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

7 Questions with May Wang of Fin VC

 May is among the investors on stage at the FinTech Forum event on 18th Nov. 2021 at the Airport Club, Frankfurt: check out the line-up and register here.

1. Please tell us a bit about yourself, both at work and leisure.

I’m an investor at Fin VC, a B2B Fintech/Insurtech focused global venture capital, based out of San Francisco. Fin VC is a team of FinTech nerds with capital, based in SF/NYC and focus on FinTech SaaS in the US and EU/UK. We deploy out of 3 strategies: Regatta (pre-seed, checks of $100K-$1M), Flagship (Early Stage – Seed->B, checks of $1-10M) and Horizons (Growth – C+, checks of $25-50M+, primary/secondary) and have an operating value playbook focused on global BD, corp dev, capital formation, product/GTM, key talent sourcing, and board leadership.

 

Personally, I’m an avid traveler and a global citizen who has lived in 4 countries across 3 continents. When not at work, you’ll find me hiking/surfing in the summer and skiing in the winter. I’m also mentoring students from underrepresented communities, and an advisor at a Uganda-based NGO.

2. What are your focus areas, overall and within the FinTech space?

Given our Enterprise SaaS focus, I focus on 6 verticals within fintech that we identify as key priorities for our investing/BD opportunities – Embedded finance, asset management/capital markets, CFO tech stack, Insurtech, Blockchain enterprise application, Enabling tech (regtech/core infrastructure/AI-ML etc).

 

3. Any recent deals that you would like to share with us, and why you invested?

We’ve made 10+ investments from our early-stage strategies recently and continue to be active in the US/European markets. For example, we invested in the seed round of citizen payment, an UK-based online payment platform that has developed an automated method for bank transfer acceptance. We believe that with PSD2 regulation, mandating that retail banks open up their APIs to Account Information and Payment Initiation Service Providers (AISPs and PISPs), has created a wave of innovation in the European fintech industry, especially for the regulated services payment space given the particular challenges of reconciliation and security. We believe Citizen is at the right position and has the right team to disrupt the bank transfer space for online merchants in the highly regulated services.

4. Which are the trends to watch out for in the next 6-18 months?

We are excited about the opportunities brought to both fintechs and traditional financial institutions by open banking, and the further evolution from open banking to open finance – faster and more customized financial services based on the open banking infrastructure. As an UN PRI signatory and ESG compliant VC firm, we also believe Europe is the leading market at the intersection of sustainability/ESG and financial services, and actively looking to partner with innovative companies solving the pain points in the financial industry.

5. Your advice to European founders looking to scale up and raise funds?

Global expansion is a key theme as well as challenge for most Europe-based startups. I recommend founders to think early at the org/product development cycle and incorporate the future scaling/expansion into the roadmap – For example building a flexible infrastructure with a translation engine on top that allows another language and local services to be added easily. Also when entering another market, make sure you understand the customer demand and localization needs thoroughly, without falling into the trap of reusing the existing playbook that made you successful in the original market.

6. What’s on your bookshelf/ reading list?

I recently finished reading Bad Blood – a thrilling real-life story about the scams and frauds behind a once $10-billion-dollar startup. It deepened my thinking on a lot of topics including leadership, corporate culture, human relationships, ethics, and how to avoid blind spots as an investor. The next book on my list is The Ride of a Lifetime by former Disney CEO Robert Iger.

 

7. Your favorite place for a coffee and/ or a drink?

When I go back to New York I always check out Ad-hoc (https://www.adhoccollective.com/) in West Village, Manhattan.

 

Scaling Enterprise FinTech: with Oliver Werneyer, CEO of Imburse Payments

This interview is part of Scaling Enterprise FinTech | The Handbook, launched in Sep. 2021 in partnership with SixThirty Ventures and Money2020 Europe. Whether you are a founder with an idea, an early stage startup looking for inspiration and learnings, or an investor or financial institution looking to understand the difficult but rewarding journey to building a world-class Enterprise FinTech firm- download The Handbook.

1. Tell us a bit about yourself and your company.

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. By connecting to us, our clients can quickly deploy any payment provider or solution, in any market, for collection or payout with no IT project or resources required. We are a technology partner that allows companies to transform, digitalise and modernise more efficiently and more quickly.

2. Give us the backstory- how did you get the founding idea, and how did the first sale come about?  

We are quite a traditional startup story in that we are a pivot. We started as one of the first flight tracking apps (Flynrate) on the Appstore in 2015. As a way of evolving and commercializing our app, we looked to deploy the early versions of flight delay insurance. There was a great demand for clients who do not want to queue for vouchers when flights get delayed or cancelled. The global insurance partner we worked with was not able to support real-time payments (only bulk files to banks) and clients were not willing to wait 2 to 10 days to get their payout. That insurer said that bringing in real-time payments, while of great interest, is a 18 month, $ 1 mil IT project with no definitive start date.

As there was also no internal payments expertise, they said that if we wanted real-time payout capabilities, we would need to find a way to bring that technology to them without touching their core IT system. We spent 3 months building an alternative solution (which we thought would be temporary) and when we presented this to the insurer, they were very keen to buy the technology service from us. That is when we realized there is a much bigger market to solve the integration problem into the payment world, and made the pivot. We raised angel funding to build the first enterprise-ready version of our product and started selling officially in 2019. Since then we have been growing strongly and successfully fundraising to invest into the growth of the product and the business.

3. Could you summarize your journey to scale from a sales, go-to-market and business development perspective, perhaps split into 2-3 key phases?

As we are in the enterprise space, our sales cycles tend to be longer. A lot of our focus to scale has been on how we can reduce the amount of work needed to connect to Imburse, how can we reach more leads in addition to our own sales team and how do we source new leads. This has lead us to have a well-tweaked GMT that targets insurers across Europea, UK and Switzerland, through core-system and SI partners, with a land-and-grow strategy. This allowed us to shorten sales cycles, deploy faster, grow our existing contracts and significantly scale our pipeline.

 

4. Which was the most challenging phase, and what would you have done differently?

The most challenging days were the early days, right after raising the angel round. We raised some money to start building but in hindsight, we did not raise enough. We should have raised more, built a bigger team from the start, and evolved the product and sales capabilities faster. This, I think, is still a European startup problem. Compared to the US and UK startups, not enough capital is made available early on for startups to  develop ideas. I would have more quickly raised funds from investors from outside Europe or leverage them to connect with the right investors in Europe who have a more growth investment mindset.

5. When did you decide to expand to the international/ US market, and how?

We have not yet decided to do this. This is on our roadmap for 2022 but we still have a massive market to grow into in Europe and we are working with US clients from Europe. The operationalization for startups in the US and other markets is incredibly expensive and needs to be taken very seriously. The best approach is to do that with a more mature product than what we currently have and significantly more money. Then we can really attack those markets properly and set ourselves up for success rather than hope for client meetings.

6. When did you first decide to raise venture capital, and what has been your approach to financing growth over the years?

We actually did not have a moment where we said, “now we need VC money”. Through our network and activities, we got connected to VCs who started to find us and with whom had constructive conversations about our future and opportunities. This way, we were able to meet more and more like-minded people on the VC side who liked and understood what we are doing. From there it was a more natural progression from one VC to the next, culminating in us now having some of the biggest names in the US and Europe onboard. We see our solution to be globally applicable, across multiple industry verticals. Thus, for a solution like ours, a higher upfront investment to develop enterprise products and services, plus growing into many markets with distribution partners, is more suited to growth financing and enables us to deploy the capital to create continued growth and return.

7. What’s on the priority list for you and your team for the next year?

We need to scale the team now while maintaining the culture we have built, keep the product quality at the high levels we have achieved and build our distribution partnerships to grow into new markets. To continue on our path of rapid growth we have to deliver a more mature product, ensure more output capability and grow our revenue.

8. Where is the financial services sector headed in the next 12-18 months, and what should we be watching out for?

The financial services sector will still experience immense pressure to modernise and transform their base IT capabilities and architecture to cope with new customer demands and business needs. We have seen an exceptional amount of focus from financial services companies on modernising the operational and backend systems after several years of putting the customer in the center, only to realise they struggle to deliver what is needed to engage the customer.

I think we will see much bigger IT project transformation announcements, more team ups and partnership,  and an increased amount of M&A in order to consolidate IP and capabilities in a stressed market.

9. Your favorite place(s) for a meal, coffee or drink (pre-/ post-COVID19)?

My favourite place to go is on the ferry on Lake Zurich, be it for a meal, coffee or drink. Out on the water, surrounded by majestic mountains and landscapes makes for an incredibly serene and inspiring place to hang out.

 

7 Questions with Korbinian Spann of Insaas.ai

1. Please tell us a bit about yourself, both at work and leisure.

My name is Korbinian, I’m the founder and managing director of Insaas.ai. Our company and I are based in Munich, Germany. I have one son, live in the countryside and love sports like cycling, sailing, running and hiking. As Insaas.ai is a remote-first team, I´m used to working with my team every day via Zoom, Slack and Google. I love being an entrepreneur and work in a team on difficult problems. The understanding and processing of languages is my favorite topic since my studies (Arabic, Hebrew). I enjoy digital marketing and communication, as an expert and as a lecturer at Steinbeis SMI. I’m open minded, curious, and full of positive energy.

2. Which product or service do you offer, and who are your competitors?

Insaas.ai is a browser-based software solution based on a subscription model to automate customer insights. We offer the next generation of market research, fast and easy unlike any analytics tool. With our software product customers can easily identify pain points in their products, reduce the lead time for optimisation and drive customer satisfaction on a very detailed level. Our competitors are Qualtrics, Medallia, Chattermill among others.

3. How did you get the business idea and take it from launch to the first customers?

I developed this idea at W.L. Gore (GORE-TEX) when I had to prepare reports on marketing performance and customer satisfaction. I could not really summarise the needs of our customers. There were too many voices from different channels – I could not do it manually.

Of course I wanted to help our team and gain some reputation with our American colleagues but there was no software available to summarise the colloquial language in shops, blogs and other sources. After talking to IBM and Microsoft I discovered that AI works well to solve the problem, but it needs clean data and specific training sets. We built the first POC based on AI and could deliver some insights that helped to optimise the business. Of course we could not scale the software solution. So I had to transform and found my company to build the software completely new from scratch. After nearly three years we have now a scalable software product that is scalable and able to solve the problem with a very high quality.

4. How have you financed your startup? Any lessons would you like to share from the fund-raising journey?

We are completely self-financed to date. My lesson is that it is not easy to sell software-innovation to angels and VCs. Many times, they cannot really judge the value and scalability of the idea. Artificial Intelligence is a hype today and many investors do not have the skills to evaluate a tech stack. In general, startups need a lot of patience for fund-raising.

5. Which are the key trends and opportunities in (European) financial services?

For me, key trends are (still) data-driven services and personalised apps to drive customer satisfaction. In my opinion, especially in financial services there is a huge potential to use unstructured data (e.g. customer feedback) to optimise services in near time. This could be for instance an automated application process or self-service tools. The opportunity is to shape new services that are really customer centric instead of inside-out. This applies to insurances as well as to banks IMOH.

6. What’s on your bookshelf/ reading list?

At the moment, “The Challenger Sale” by Brent Adamson. Second, Yuval Hararis “Brief History of Humankind”. Furthermore you will find this years “Brand Eins” Edition on role models and in the end the “Decision Maker Playbook”.

7. Your favorite place for a coffee and/ or a drink?

In Corona times, it has to be my patio in the garden 🙂 Espresso and Gin Tonic is always fine with me. I love the Bar Centrale in Munich or Schumanns.

7 Questions with Semih Kacan of Swisscom Ventures

Semih is among the investors who will be sharing his insights on “what’s next in European FinTech” at the FinTech Forum 2021 – 18th Nov. 2021 at the Airport Club, Frankfurt Airport /hybrid. Check out the agenda and register here: http://ftf2021.eventbrite.com 

1. Please tell us a bit about yourself, both at work and leisure

My name is Semih Kacan, and I am Investment Manager at Swisscom Ventures. I’ve joined Swisscom Ventures at the beginning of 2021 to strengthen the Fintech and Blockchain allocation in the portfolio. Prior to Swisscom Ventures I spent over 10 years in Strategy Consulting, Corporate Strategy, Business Development and Asset Management at Credit Suisse, BearingPoint and Haspa before I co-founded and successfully exited my venture in Zurich. I hold a Master Degree in Corporate Finance from Henley Business School.

I enjoy the time with friends and family and a cup of coffee on sunny days at the beautiful Zurich Lake but also like reading books and watching videos to educate myself about upcoming trends/technologies.

2. What are your focus areas, overall and within the FinTech space?

Primarily I’m focused on Fintech, Video-Gaming and Sports. In the FinTech space I’m looking for B2B Enterprise SaaS models in Digital Assets Infrastructure, Embedded Finance, Banking as a Service, WealthTech as well as Gaming (incl. DeFi, Web 3.0).

3. Any recent deals that you would like to share with us, and why you invested?

There are a couple of deals in the blockchain/crypto space that we are currently working on which I can share now. A recent deal that I’ve worked on and that is already public is our follow-on investment in Fireblocks – the leading digital custody tech-provider – who has recently raised its Series D and is now valued at $2.2bn.

4. Which are the key trends to watch out for in the next 6-18 months? 

The crypto space will remain hot – especially driven by the increasing institutional adoption and their need for infrastructure solutions. Also, DeFi at the intersection to NFT and Gaming are worth watching out for. 2nd Layer solutions will continue to drive volumes in DeFi as they will lower transaction fees and support the ease of use (via Apps)

5. Your advice to European founders looking to scale up and raise funds?

Plan, execute and listen to your customers. Be driven and obsessed with your product/solution. For SaaS companies its important to be on top of their key metrics and unit economics.

Otherwise, just get in touch with me and my colleagues. We are always interested in disruptive start-ups and genius founders.

6. What’s on your bookshelf/ reading list?

Increasing returns to scale by Brian Arthur

7 Powers by Hamilton Helmer

7. Your favorite place for a coffee and/ or a drink?

If you ever visit Hamburg, I can recommend you the Bar called “Strandperle” located directly opposite of the port at the beach “Elbstrand”. You can enjoy your cold beer while watching huge container ships passing by just 20 Meter away from you.

7 Questions with Alex Mifsud of Weavr.io

1. Please tell us a bit about yourself, both at work and leisure. 

I’m an entrepreneur, so no surprise that I’m intensely curious about why things are the way they are, and what would happen if we can change how they are.  That’s true for me in business and everything else I do – it drives my family a bit crazy, but someone has to do it.  Otherwise we’d still be in the Stone Age.  I basically like to tinker – doing little experiments, whether I’m cooking a meal or building a business. It’s fun, experiencing old things in new ways, although it can sometimes be disastrous too. Not everyone likes my cooking.

2. Which product or service do you offer, and who are your competitors? 

Weavr is making it possible, easy even, for non-financial applications to integrate financial services into them.  Examples, in online retail for instance, include enabling customers to split the payment for an order across multiple people, or providing a way for customers to save up for an expensive item, or for them to ask somebody else to contribute to the cost of it.  The concept of integrating financial services into non-financial applications is called embedded finance, and Weavr and its competitors like Railsbank in the UK and Solarisbank in Germany are finally making it possible.  What makes Weavr different from its competitors is that it is far easier, far quicker and far less expensive for innovators to use; this is because Weavr’s technology automates the hardest thing about providing embedded finance: ensuring security and compliance with regulation in the context of the non-financial application.

3. How did you get the business idea and take it from launch to the first customers? 

My co-founder Adrian and I spent many years dealing with this problem of ‘contextual security and compliance’ in our previous businesses.  An application to pay for parking has a completely different risk from an application to buy a car.  So there isn’t a single solution that works for every situation.  Our big idea is that we discovered a way to describe financial solutions that makes it easy to understand the risks and to create a way to manage those risks.  We could then automate this approach and save many man-years by avoiding all the specialist effort that goes into designing embedded financial solutions, legal drafting, and building custom risk management that are normally needed.

Our first customers were innovators who found it too complex, too slow and too expensive to achieve what they wanted from embedded finance.  These included digital disrupters shaping the future of work, education, healthcare, and real estate.  In every case, they were excited to discover that Weavr’s approach provided a simple, fast and affordable solution for them to integrate financial services in their mobile apps and SaaS platforms.

4. How have you financed your startup? Any lessons would you like to share from the fund-raising journey? 

We financed Weavr in stages. The original financing to build our unique technology came mostly from the EU Horizon2020 programme which finances Deep Tech projects across Europe.  To commercialize the technology we developed, we started by winning competitions to get grants, as well as using our own money of course, and then getting angel investment and later VC funding. At every step of the way, we’ve engaged closely with real customers – talking to them constantly, and – more importantly – really listening to them: our customer told our investors directly how much they value what Weavr is doing, and that’s been a real help in raising money.  One other lesson from fundraising is that it is worth considering investors as a kind of customer – they are buying parts of your business with the expectation that it will be successful and deliver a financial return.  So in the same way, it’s important to listen to investors when pitching – in that way you can take feedback to create a better investment product for them to buy.

5. What’s your ask/ how could our network help you in the next 6-12 months? 

Our biggest need is to drive awareness of what Embedded Finance can do for all types of digital businesses, and how our unique approach makes Embedded Finance accessible to all serious innovators.  Our network is already sending this message out to the market, and we want more and more of this – we want to reach every single innovator in Europe who can benefit from adding Embedded Finance to their business.

6. Which key trends and opportunities should we be watching in (European) finance? 

Embedded finance of course – this is a powerful new distribution channel for banking.  If the 2010s was the decade of mobile and web banking, the 2020s are looking to be the decade of embedded banking.  I would also add Decentralised Finance (DeFi) which is a powerful approach to creating new more efficient financial services without central owners and mostly without the need for expensive intermediaries.  Another big theme, driven by the Covid19 pandemic, is the emergence of the ‘low touch economy’ where traditional human interactions such as paying with cash, or ordering food from a physical menu are being replaced with digital alternatives.  New forms of payments and commercials are being adopted at a very rapid rate to capture this change in human interaction.

7. What’s on your bookshelf/ reading list, and what’s your favorite place for a coffee or a drink?

I read all kinds of things.  Just picking a couple at random: Platform Revolution by Geoffrey Parker and his colleagues, is a great business book to surgically analysis how platform business work, Product-Led Growth by Wes Bush is a thin but useful guide to building products that are sold by customers experiencing their value rather than being told by a salesperson, and – if anyone like obscure quirky novels, I can recommend Novel Explosives, written by a self-confessed Marxist Venture Capitalist.  As for that drink, right now I’m thinking of the Bridge Bar in Valletta, Malta.  It’s open air and sprawling on to the stairs leading down to the Grand Harbour, great view and a relaxing welcoming vibe.

Featured Investors: Global Brain (Xayn), CommerzVentures(Afilio), Karlani Capital (Kroo) etc. We feature Q&As with with Marcus Börner of OptioPay and Daniel Andres and Dr. Teddy Amberg of Spicehouse Partners.

Investors in early stage European FinTech deals this week include Global Brain (Xayn), CommerzVentures(Afilio), Karlani Capital (Kroo) etc. We feature Q&As with with Marcus Börner of OptioPay and Daniel Andres and Dr. Teddy Amberg of Spicehouse Partners.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Marcus Börner of OptioPay
1. ​Tell us a bit about yourself and your company.

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.

Next to OptioPay, I am a passionate business angel, and have invested in over 50 companies. I love supporting young entrepreneurs who dare to make an impact. I also advise the Federal Ministry of Finance in Germany as part of the “FinTechRat”.

scaling-enterprise-fintech-with-marcus-borner-of-optiopay

Scaling Enterprise FinTech: with Daniel Andres and Dr. Teddy Amberg of Spicehouse Partners
1. ​A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/ InsurTech) firm in Europe?

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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-daniel-andres-and-dr-teddy-amberg-of-spicehouse-partners/

https://www.linkedin.com/feed/update/urn:li:activity:6829474380297334784/

Global Brain und KDDI investieren 10 Millionen in Berliner Browser-Startup Xayn

9. August 2021: Das Berliner KI-Startup Xayn hat im Rahmen einer Series-A-Runde zehn Millionen Euro eingesammelt. Die japanischen Investoren Global Brain und KDDI führen die Finanzierungsrunde an, der sich auch die bisherigen Investoren – darunter Earlybird – angeschlossen haben. Insgesamt flossen damit bereits knapp 20 Millionen Euro in das 2017 gegründete Unternehmen. Xayn entwickelt und betreibt eine App, die einen mobilen Browser mit einer KI-gestützten Suchmaschine verbindet. Ähnlich wie bei Google ist auch ein personalisierter Nachrichtenfeed integriert.

Global Brain Corporation is one of the largest venture capital firm based in Tokyo whose recent investments include DoctorMate and Istore Isend.

https://www.businessinsider.de/gruenderszene/news/startup-ticker-aug11-vicampo/

CommerzVentures investiert 11 Millionen Euro in Insurtech Afilio

11. August 2021: Das Startup Afilio hat im Rahmen einer Series-A-Finanzierungsrunde elf Millionen Euro eingesammelt. Angeführt wird das Investment von CommerzVentures, dem Investmentvehikel der Commerzbank. Speedinvest und die Bestandsinvestoren Cherry Ventures, Cavalry und Mutschler Holding haben ebenfalls Geld gegeben. Das Startup will Nutzern bei der Altersvorsorge helfen, indem sie über die Plattform diverse Vorsorgedokumente erstellen, verwalten und sich versichern lassen können. Für Nutzer ist der Service kostenlos, das Insurtech finanziert sich über freiwillige Beiträge. Derzeit zählt Afilio etwa zwei Millionen Nutzer. Till Oltmanns und Philip Harms haben das Insurtech 2017 gegründet.

CommerzVentures specializes in early- and growth-stage companies in the financial services and insurance sectors whose recent investments include Bought by Many and 360X.

https://www.businessinsider.de/gruenderszene/news/startup-ticker-aug11-vicampo/

Karlani Capital invests £17.7M in Kroo

Led by CEO Andrea de Gottardo, Kroo is building a new UK bank to allow its customers to participate in shared financial activity with each other and champion social causes that impact their world. The company, which expects to launch in early 2022, will test its concept through a prepaid card offering, issued under the e-money licence of PayrNet Ltd, and innovative ways for people to track their personal and social finances – to create groups with friends, track spending, and split and pay bills quickly and securely. In addition, a tree-planting referral scheme has already been launched.

The round was led by tech entrepreneur and founder of Karlani Capital, Rudy Karsan.

Karlani Capital is an operating fund that builds, buys, and invests in fast-growing, technology companies that serve and enrich humanity whose recent investments include Phenom people and QL Gaming Group.

https://www.finsmes.com/2021/08/kroo-raises-17-7m-in-series-a-funding.html

Investors from 33 different countries invest €22 million in Blocktrade

Launched in 2018 Blocktrade was acquired and rebuilt by Cryptix until 2020 and funded by an international group of investors in 2021.

Blocktrade SA, a Luxembourg-based digital asset exchange, says it has closed an over-subscribed €22 million series A funding round that garnered investors from 33 different countries.

https://www.crowdfundinsider.com/2021/08/178931-digital-asset-exchange-blocktrade-reports-oversubscribed-e22-million-series-a/

Digital Investment Platform Bitpanda to Invest €10M into Blockchain Research and Development Hub
Austria’s Bitpanda, the digital investment platform which has managed to achieve Unicorn status, reveals that it will be investing €10 million during the next couple years into the newly established Blockchain Research & Development Hub.

The new Blockchain Research & Development Hub could potentially attract experienced blockchain professionals including engineers who are interested in developing innovative technologies. Bitpanda expects to have around 30 applications developers on board by the end of this year.

https://www.crowdfundinsider.com/2021/08/178749-digital-investment-platform-bitpanda-to-invest-e10m-into-blockchain-research-and-development-hub/

Money2020 Europe: 21-24 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-24 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Featured Investors:Manuel Neuer (Votebase),LocalGlobe (Vira Health),Pinorena Capital (Darwinex)etc. We feature Q&As with Akur8 and BiG Start Ventures.

Investors in early stage European FinTech deals this week include Manuel Neuer (Votebase), LocalGlobe (Vira Health), Pinorena Capital (Darwinex).etc. We feature Q&As with Samuel Falmagne of Akur8 and Matilde Limbert of BiG Start Ventures.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Samuel Falmagne of Akur8

1.​ Tell us a bit about yourself and your company.

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.

scaling-enterprise-fintech-with-samuel-falmagne-of-akur8

Scaling Enterprise FinTech: with Matilde Limbert of BiG Start Ventures

1. ​A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/ InsurTech) firm in Europe?

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.

I believe it is undoubtedly a delicate time for Europe, from which the Financial Sector will not be exempt. But I also believe that Fintech, being a catalyzer for adaptability and innovation, will be crucial in the transformation we are facing ahead not only in the Financial Industry, but any industry that somehow uses Financial Services.

http://www.fintechforum.de/scaling-enterprise-fintech-with-matilde-limbert-of-big-start-ventures/

The above interviews are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.

Manuel Neuer beteiligt sich an Blockchain-Startup Votebase

Das Startup entwickelt eine Blockchain-basierte App für Wahlen. Durch das dezentrale Speichern von Daten soll die Technologie mehr Schutz vor Manipulationen bieten als herkömmliche Datenbanken. „In Ländern, in denen den Bürgern Wahlen physisch nicht oder nur schwer möglich sind, wird Votebase eine große Hilfe sein“, so hofft Neu-Investor Neuer. Bei der Votebase-App sollen Personen einerseits beim Login eindeutig verifiziert werden können.

Der Nationaltorwart Manuel Neuer steigt bei dem Blockchain-Startup Votebase ein. Neben Neuer beteiligten sich außerdem der Rose-Bikes-Geschäftsführer Marcus Diekmann und der Shopware-Gründer Stefan Hammann an der Firma aus Bergisch-Gladbach. Jeder der drei Angels hält nun jeweils zehn Prozent der Firmenanteile an Votebase. Wie hoch die Finanzierungsrunde war, dazu machte das Unternehmen keine Angaben.

https://www.businessinsider.de/gruenderszene/business/manuel-neuer-investiert-in-blockchain-startup-votebase-a/

LocalGlobe, MMC Ventures and other angel investors invest £1.5M in Vira Health 

Founded in 2020 by Andrea Berchowitz and Rebecca Love, Vira Health aims to make personalized menopause care accessible to all women by reducing the prevalence of later life conditions such as osteoporosis, cardiovascular disease, diabetes and dementia. Stella, the first product from the company, is a personalised app for menopause relief.

Backers included LocalGlobe, MMC Ventures, and angel investors including Megumi Ikeda, Managing Director, Hearst Ventures, Andrea Zitna of Elvie, former Spotify executive Sofia Bendz, founder of GoCardless Matt Robinson, and Simon Lambert, former CTO, MOO.com, and Treatwell.

Founded in 1999, LocalGlobe is a venture capital investment firm headquartered in London, United Kingdom whose recent investments include Supercritical and Tide.

https://www.finsmes.com/2021/07/vira-health-raises-1-5m-in-seed-funding.html

Pinorena Capital invests €3 million in Darwinex

Darwinex has recently launched trading in over 60 futures and all US single stocks across Trader Workstation (TWS) platform, in an effort to offer a higher quality product range and access to diversified markets. Darwinex unique front-to-back Fintech solution enables successful traders and small to medium-sized hedge funds to easily convert its trading strategies into investable assets. A one-of-a-kind product that serves as a tool for successful traders to scale their income and gain access to external investor capital, everything within Darwinex robust legal and technological ecosystem.

Leading investors in the round were Stefan Jaecklin and Pinorena Capital who were joined by Darwinex co-founders and a number of key employees in the company. Pinorena Capital, a fintech-focused investment company led by entrepreneur Illimar Mattus, has contributed with this first investment to supporting Darwinex expansion journey.

Pinorena Capital invests in great Fintech companies founded by passionate engineers and entrepreneurs.

https://www.finextra.com/pressarticle/88751/uk-based-fintech-darwinex-secures-3-million-in-growth-funding

Angel investors invest £4.2m in Venari Security

Led by CEO Tom Millar, Chief Revenue Officer Hiten Mistry, and Chief Technology Officer Simon Mullis, Venari provides a SaaS cybersecurity platform uses a combination of machine learning, artificial intelligence, and behavioural analytics to accurately detect threats on the network in near real-time, without the need for decryption. This reduces the response time of security teams and enables them to proactive respond to threats rather than react to events, while delivering internal and regulatory compliance for organisations.

Backers included:

  • Paddy McGuinness, the UK’s former Deputy National Security Adviser for Intelligence, Security and Resilience;
  • Lane Bess, former President and Chief Executive Officer of Palo Alto Networks; and
  • Cris Conde, former Chief Executive Officer of Sungard.

https://www.finsmes.com/2021/08/venari-security-raises-4-2m-in-series-a-funding.html

Accel and other Investors invest €12.8 million in Tenderly

Founded in 2018, Tenderly’s platform offers a number of functionalities for Ethereum developers, becoming an essential part of their’ developer toolbox’ – for monitoring Ethereum smart contracts, real-time alerting, smart contract simulations, troubleshooting or for more complex custom integrations.

This round was led by Accel, with participation from existing investors and new angel investors, including Nicolas Dessaigne (Co-founder of Algolia), Mirko Novakovic (Co-founder of Instana) and Guillermo Rauch (CEO of Vercel).

Accel is an early and growth-stage venture capital firm that helps a global community of entrepreneurs whose recent investments include Fashinza and Algolia.

https://www.eu-startups.com/2021/07/belgrade-based-tenderly-nabs-e12-8-million-to-grow-its-ethereum-developer-platform/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eu-startups+%28EU-Startups%29

JME Ventures and other Investors invest €13.8 million in revenue-based growth capital provider Ritmo 

Founded in late 2020, Ritmo is aiming to be at the heart of the growth of digital-only businesses. The company currently offers support to e-commerce, D2C, and marketplace entrepreneurs, with apps and games makers, SaaS platforms, and subscription model-based businesses on the horizon.

By offering recurring revenue-based financing, Ritmo is providing these retailers with access to growth capital that is calculated based on sales numbers. The financing is then repaid through a percentage of monthly sales. Realising that some months are better than others, should a seller’s sales take a dive, Ritmo will extend the repayment period.

Back in April of this year, Ritmo announced a €3 million seed round from investors FinRebel, JME Ventures, Inveready, and Sabadell Venture Capital. The €10.8 million is an extension round, with the firm listing Bynd Venture Capital and Wayra, and “a few” international investors also participating.

JME Venture Capital focuses on late seed and series A of Spanish companies with a technological base whose recent investments include DudyFit and Atani.

https://tech.eu/brief/revenue-based-growth-capital-provider-ritmo-raises-e13-8-million/

Paulsen & Co. Inc. invests £15M in Smart Money FinTech App Snoop

Snoop leverages Open Banking tech in order to connect to a client’s bank account as well as their credit cards, sifting through the data in order to identify “money-saving opportunities” on bad deals, poor value renewals as well as useless subscription plans.

The Norwich-headquartered company reports that it has managed to deliver more than 3 million money-saving and money-management insights to its clients and intends to save the average household approximately £1,500 every year.

Snoop’s most-recent funding has been announced after its £10 million crowdfunded raise in December of last year. Snoop has now secured a total of £34 million, to date.

Established by ex- Virgin Money Chief Executive Jayne-Anne Gadhia, the smart money app Snoop closed its Series A round with contributions from US investment management company Paulson & Co. Inc.

Paulson & Co is an investment management firm specializing in event-driven arbitrage strategies and including merger whose recent investments include BookKeeping Express and Overseas Shipholding Group.

https://www.crowdfundinsider.com/2021/08/178606-smart-money-fintech-app-snoop-secures-15m-via-series-a-with-participation-from-us-investment-firm-paulson-co-inc/

European Investment Fund puts $30M in Fabric Ventures’ new $130M digital assets fund

This makes it the first EIF-backed fund mandated to invest in digital assets and blockchain technology.

“We are very pleased to be partnering with Fabric Ventures to bring to the European market this fund specializing in Blockchain technologies,” EIF Chief Executive Alain Godard said. “This partnership seeks to address the need [in Europe] and unlock financing opportunities for entrepreneurs active in the field of blockchain technologies — a field of particular strategic importance for the EU and our competitiveness on the global stage.”

Fabric Ventures, a Luxembourg-based VC billed as backing the “open economy,” has closed $130 million for its 2021 fund, $30 million of which is coming from the European Investment Fund (EIF). Other backers of the new fund include 33 founders, partners and executives from Ethereum, (Transfer)Wise, PayPal, Square, Google, PayU, Ledger, Raisin, Ebury, PPRO, NEAR, Felix Capital, LocalGlobe, Earlybird, Accelerator Ventures, Aztec Protocol, Raisin, Aragon, Orchid, MySQL, Verifone, OpenOcean, Claret Capital and more.

EIF was founded in 1994 to support Europe’s small and medium-sized businesses (SMEs) by enhancing their access to finance whose recent investments include Evologic and AGRIVI.

https://techcrunch.com/2021/07/29/european-investment-fund-puts-30m-in-fabric-ventures-new-120m-digital-assets-fund/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

Money2020 Europe: 21-24 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-24 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

European FinTech Deals: Adevinta Ventures (Lovys.fr), Cavalry and Stride (WhenThen), Felix Capital (Peppy) etc. We feature Q&As with Artur Banach of Movens Venture Capital and Dr. Christopher Oster of Clark.

Investors in early stage European FinTech deals this week include Adevinta Ventures (Lovys.fr), Cavalry and Stride (WhenThen), Felix Capital (Peppy) etc. We feature Q&As with Artur Banach of Movens Venture Capital and Dr. Christopher Oster of Clark.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Artur Banach of Movens Venture Capital

1.​ A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/ InsurTech) firm in Europe?

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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-artur-banach-of-movens-venture-capital/

Scaling Enterprise FinTech: with Dr. Christopher Oster of Clark
1. ​Tell us a bit about yourself and your company.

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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-dr-christopher-oster-of-clark/

The above interviews are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.

Adevinta Ventures makes first investment in France-based digital insurance provider Lovys.fr

Founded in 2017, Lovys has recently expanded to Spain and Portugal and planned to reach 100,000 policyholders across Europe by this yearend.This is the first investment of Adevinta Ventures in fintech and insurtech sector and in France, Adevinta said in a statement.

Adevinta Ventures has so far invested in Spain-based car subscription startup BipiCar, Germany-based healthcare jobs search engine MedWingFlatfair, a home rental service in the U.K., Germany-based RV-sharing site PaulCamper.com, and Finland-based real estate marketplace Kodit.

https://aimgroup.com/2021/07/20/adevinta-ventures-makes-first-investment-in-fintech-sector/

European venture capital firms Cavalry and Stride invest in WhenThen

The company is led by Kirk Donohoe, who previously served as vice-president for product innovation at Mastercard in Dublin. His other co-founders are Eamon Doyle and Dave Brown, who also formerly worked at what is the second-largest payments company globally.

European venture capital firms Cavalry and Stride.VC have co-led the investment for the company, which was founded only six months ago.
Cavalry is a Berlin-based early-stage Venture Capital fund whose recent investments include VoiceLine and Aleph Alpha.

https://www.irishtimes.com/business/technology/dublin-based-fintech-led-by-ex-mastercard-staff-raises-6m-1.4627577

Felix Capital invests €8.8 million in Peppy

Peppy was founded in London in 2018 by co-founders Evan Harris, Max Landry, and Mridula Pore, with a mission to plug some of the biggest gaps in healthcare that occur during major life and family transitions – menopause, fertility, pregnancy and early parenthood.
The investment was led by Felix Capital with previous investors including Outward VC, Seedcamp, and Hambro Perks, also participating.

Felix Capital is a venture fund that focuses on digital commerce, digital media, and information technology companies whose recent investments include YOOBIC and Ledger.

https://www.eu-startups.com/2021/07/uk-based-peppy-nabs-e8-8-million-to-help-employees-manage-life-transitions-such-as-parenthood/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eu-startups+%28EU-Startups%29
Jazz Venture Partners and Temasek invest $90M in Woebot

Headquartered in San Francisco, Woebot was founded by University College Dublin graduate Dr Alison Darcy. Digital treatment development caught her eye when she studied psychology at the university in the late 1990s.

Darcy went on to found Woebot in 2017. Using the power of AI, the company developed a chatbot that attempts to create a therapeutic bond with users and help them learn strategies to improve their mental health.

The company’s latest investment round was co-led by San Francisco-based Jazz Venture Partners and Singapore-based Temasek. The round also saw participation from VC firms BlackRock and Owl Ventures, among others.

Jazz Venture Partners is a venture capital firm focused on technologies that extend the boundaries of human performance whose recent investments include Thrive Global and Zeitworks.

https://www.siliconrepublic.com/start-ups/woebot-chatbot-mental-health-ai-funding

 

General Atlantic, Index Ventures and Eight Roads Ventures invest €160M in Spendesk

Founded in 2016 by Rodolphe Ardant, Guilhem Bellion and Jordane Giuly within French startup studio eFounders, and also led by recently appointed CPO James Colgan, Spendesk is a SaaS spend management solution that provides visibility and control on all company spending — with every purchase trackable to a person, a project, and a budget. The platform combines payments, processes and data into one dashboard, with virtual and physical cards for employees, expense reimbursements, invoice management, automated spend approvals, and budgets.

The round, which brought total funding to €160M, was led by General Atlantic with participation from previous investors Index Ventures and Eight Roads Ventures.

General Atlantic is a global growth equity firm providing capital and strategic support for growth companies whose recent investments include Atera and Dixa.

https://www.finsmes.com/2021/07/spendesk-raises-e100m-in-series-c-funding.html

 

Goldman Sachs Asset Management and DMG Ventures invest $200M in Zilch 

Led by Philip Belamant, Founder and CEO, Zilch is a FCA regulated buy now, pay later lender that allows its customers to shop wherever MasterCard is accepted and spread their payment over six weeks for zero interest and zero fees. This funding follows a series of announcements from the company, including its latest feature, Tap and Pay-over-time.

Funding – which brings the total raised to more than $200M – came from Goldman Sachs Asset Management and DMG Ventures (the venture capital arm of the Daily Mail and General Trust plc) and others.

https://www.finsmes.com/2021/07/zilch-raises-additional-110m-in-funding.html

 

Temasek among other investors invest $180M in Soldo

Founded in 2015, Soldo serves more than 26,000 customers including Mercedes Benz, GetYourGuide, Gymshark, Bauli, and Brooks Running in over 30 countries around the globe.

“Traditionally, corporate payments have had a handful of methods: bank transfers, corporate credit cards. Each of these methods bring a unique set of administrative hassles and security risks. And, of course, once the transactions are complete, there is a haze of receipts, expense reports, reimbursements, budgets, and analysis – none of which is connected. Soldo is the digital solution to this incredibly costly challenge,” explains CEO and founder Carlo Gualandri.

The round was led by industry heavyweight Temasek, and saw new investors Sunley House Capital, and Citi Ventures jump aboard. The round also saw continued backing from Accel, Battery Ventures, Dawn Capital, and Silicon Valley Bank for debt financing.

 

https://tech.eu/brief/business-financials-management-platform-soldo-closes-180-million-round-led-by-temasek/
Decisive Capital Management leads investment in Solarisbank 

Solarisbank, a Berlin startup that provides a range of financial services by way of some 180 APIs that others use to build end-user-facing products (including basic banking and card services, lending, payments, and know-your-customer services) has raised €190 million ($224 million) in a Series D that values the company at €1.4 billion ($1.65 billion) and announced the acquisition of one of its competitors in the space, Contis.

Decisive Capital Management, a Swiss firm that has also backed insurtech startup Wefox, led the round, with Pathway Capital Management, CNP (Groupe Frère) and Ilavska Vuillermoz Capital also participating, in addition to and previous backers Yabeo Capital, BBVA, Vulcan Capital and HV Capital.

Decisive is a wealth advisor that provides services to high net worth individuals, families, and institutional investors whose recent investments includes wefox.

https://techcrunch.com/2021/07/26/solarisbank-raises-224m-at-a-1-65b-valuation-to-acquire-contis-and-expand-its-api-based-embedded-banking-tech-in-europe/

110-Millionen-Exit in Mannheim: Klarna kauft Stocard

Der schwedische Payment-Anbieter Klarna, das wertvollste Finanz-Startup Europas, will seine Shopping-App ausbauen. Dazu kauft Fintech das Mannheimer Kundenkarten-Startup Stocard, wie Finance Forward zuerst berichtete. Die Kaufsumme soll demnach nach Angaben aus dem Unternehmensumfeld 110 Millionen Euro betragen und jeweils zur Hälfte in Bargeld und in Form von Klarna-Anteilen geflossen sein. Beide Seiten wollten den Deal bislang nicht bestätigen.

https://www.businessinsider.de/gruenderszene/fintech/exit-klarna-kauft-kundenkarten-startup-stocard-b/

Money2020 Europe: 21-24 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-24 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

European FinTech deals: Industrifonden (Limina), NFX (Collective Benefits), Frog Capital (Caspar Health).etc. We feature Q&As with Nico Blanchard of Apiax and Mark Whitcroft of Illuminate Financial.

Investors in early stage European FinTech deals this week include Nordic venture capital firm Industrifonden (Limina), NFX (Collective Benefits), Frog Capital (Caspar Health).etc. We feature Q&As with Nico Blanchard of Apiax and Mark Whitcroft of Illuminate Financial.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Nico Blanchard of Apiax
1.​ Tell us a bit about yourself and your company.

I’m Nicolas Blanchard, co-founder of Apiax which is a tech compliance solution that makes it radically simple for companies to comply with global regulations.

Apiax’s technology is designed to embed compliance into business processes so that business teams can work more productively and compliance teams can manage their stakeholders much more efficiently.

In four years we have grown to have over 65 employees across 4 countries (Switzerland, Portugal, United Kingdom and Singapore). With our combined compliance expertise and technological abilities we are on the mission to make compliance easy for everyone.

http://www.fintechforum.de/scaling-enterprise-fintech-with-nico-blanchard-of-apiax/

Scaling Enterprise FinTech: with Mark Whitcroft of Illuminate Financial

1.​ A year since the first lockdown – is this is a good time to be building or scaling an Enterprise FinTech firm in Europe?

Good but with challenges!

Digitization has had the shot in the arm and an acceleration with the move to remote and hybrid work environments. The need for enterprise solutions is high on managements’ agendas. However this isn’t uniform and interest is selective – ensuring your product is solving a priority problem within the enterprise is must. If it isn’t, unlikely you will reach the top of your potential buyer’s to do list nor will there be a (big) budget to buy it.

Scaling has changed somewhat with remote working changing hiring (not even getting to meet in person first!) and onboarding practices (that need to be structured better than ever before).

Maintaining a firm’s culture is also very challenging right now – leadership capabilities are on show – both good and bad!

http://www.fintechforum.de/scaling-enterprise-fintech-with-mark-whitcroft-of-illuminate-financial/

The above interviews are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.
Nordic venture capital firm Industrifonden invests €2.54 M in Swedish Fintech startup Limina

Limina, a Stockholm-based startup providing the world’s first and only customizable cloud-native Investment Management Solution (IMS) for mid-sized asset managers, today announces the completion of a €2.54 million Series A funding round. The investment was led by Nordic venture capital firm Industrifonden.
Existing investors, including STOAF SciTech, Vidici Ventures, Almi Invest and Justin Wheatley, the founder of StatPro, also joined the latest funding round. The company’s enterprise SaaS model for asset management IMS has seen great traction from forward-looking asset managers across Europe in the past 18 months.

Industrifonden is a venture capital firm that focuses on early stage technology and life science companies with international potential whose recent investments include Logical Clocks and Shard Secure.

https://www.eu-startups.com/2021/07/swedish-fintech-startup-limina-secures-e2-54-million-to-further-expand-with-its-cloud-native-investment-management-solution/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eu-startups+%28EU-Startups%29

NFX, a leading Silicon Valley venture fund invests €7 million in Collective Benefits

Collective Benefits, the insurtech solving the protection gap for independent workers, announced today they have raised a new round led by NFX, a leading Silicon Valley venture fund. Alongside this investment, renowned British entrepreneur Pete Flint OBE, a General Partner at NFX who was on the founding teams at companies like lastminute.com and Trulia, will be joining Collective’s board.

The London-headquartered startup plans to use the investment to further expand its reach across Europe, double the size of its team and develop new products and services for independent workers and the on-demand companies they work with, addressing the growing demand for insurance and benefits in the platform economy.

NFX operates as a seed investor that is transforming how true innovators are funded for entrepreneurs whose recent investments include Lev and Dovly.

https://www.eu-startups.com/2021/07/london-based-insuretech-startup-collective-benefits-raises-e7-million-to-protect-independent-workers/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eu-startups+%28EU-Startups%29

Frog Capital invests €9M in Caspar Health

Frog Capital has led a €9 million investment in Berlin-based Caspar Health, Tech.eu reported. The startup’s platform allows users to access online rehabilitation treatment on demand. The company has raised around €16.8 million in total VC funding.

Frog invests in software enabled scale-up stage tech companies in Europe whose recent investments include Vulog and Winningtemp.

https://pitchbook.com/newsletter/caspar-health-pockets-9m

Highland Europe invests $18 M in Hyperexponential

Launched in 2017 by Amrit Santhirasenan, CEO, and co-founder Michael Johnson, both software engineers and qualified actuaries, hyperexponential (hx) is an insurtech company providing mathematical modelling software for the commercial insurance sector. The software helps actuaries, data-scientists and underwriters build, deploy and update their pricing models, so they can make data-driven decisions, faster and with minimal time and money spent on IT administration.

Highland Europe made the investment. Highland Europe is a growth-stage technology fund that invests in European internet, mobile, and software companies whose recent investments include Contentsquare and Unibuddy.

https://www.finsmes.com/2021/07/hyperexponential-raises-18m-in-funding.html

SBI investments invest €22M in berlin-based finleap connect
Founded in 2019, finleap connect was born from the merger of fintech platforms figo, finreach solutions and infinitec solutions. It employs more than 150 people at five different European locations. The company claims to have a valuation in the triple-digit million range.

Finleap’s full-stack platform enables partners to connect to more than 3,600 banks across Europe through a single API, processing over 65 million transactions per month.

Berlin-based fintech startup finleap connect has raised €22M in its Series A funding round after its merger in 2019. The round was led by SBI Investment — a Japanese VC firm, along with participation from Ilavska Vuillermoz Capital, a Luxembourg-based fintech investor.

SBI Investment supports the business development and growth of private venture companies through fund investment whose recent investments include Divido and WhereIsMyTransport.

https://siliconcanals.com/crowdfunding/finleap-connect-raises-22m/

Tencent Holdings invests €29.5 million in Doctor.se

Founded in 2016, Doktor.se is the second most downloaded doctor app in Europe according to Appfigures, a number which places it above competitor Kry. Over the course of 2020, Doktor.se provided over 1.2 million patient consultations via their countrywide physical locations and globally available app.

The investment from Tencent arrives at a key moment in the company’s development, as Doktor.se previously indicated that, “an aggressive series of acquisitions and digitisation of physical clinics are planned,” and in an interview with di.se, CEO and co-founder Martin Lindman commented, “Our ambition is to carry out a listing during the first quarter of 2022.”

Stockholm-based digital healthcare provider Doktor.se has secured €29.5 million in funding from Tencent Holdings.

https://tech.eu/brief/swedens-doktor-se-raises-e29-5-million-from-tencent-in-advance-of-ipo/

Target Global invests $70 M in Life insurance provider YuLife

By flipping the life insurance concept on its head YuLife is promoting a model that supports members, insurers, and employers collectively. Members have access to a suite of tools designed to improve their quality of life, insurers gain actionable data that allows them to de-risk individuals, and employers gain a programme that demonstrates a true commitment to employee wellbeing.

Target Global led the Series B round with new investors Eurazeo and Latitude participating. Existing investors CreandumNotion CapitalAnthemisMMC Ventures, and OurCrowd all followed on. With this raise, YuLife has a valuation of $275 million.
Target Global is a venture capital firm that invests in tech companies across their lifecycles whose recent investments include The Vets and Mercuryo.

life-insurance-provider-yulife-raises-70-million-puts-life-first

Anthos Capital invests $70 M in Railsbank

Founded in 2016 Railsbank offers a number of embedded finance products, including Banking as a Service, Cards as a Service, and Credit as a Service. The platform provides the underlying technology for a number of other fintechs, Plaid for example, and is also in use by telcos, supermarkets, and consumer brands. Using an API building block approach, Railsbank allows companies or brands to prototype, build, launch and scale any financial use case.

The round was led by Anthos Capital, with participation from Central CapitalCohen and Company, and Outrun Ventures. While not specifically named, Railsbank reports existing investors also participating. To date, the fintech has raised $121.4 million.

Anthos is an investment firm focused on growth-stage private companies at the forefront of change whose recent investments include Ephemeral Tattoos and Singularity 6.

https://tech.eu/brief/embedded-finance-platform-railsbank-raises-70-million/

LGT invests €88 M in LIQID

LIQID, Europe’s leading digital wealth manager for affluent private clients, announces a € 88 million (US$ 104 million) funding round led by LGT, the global private banking and asset management group owned by the Princely House of Liechtenstein. As part of the round, which also includes participation from existing investors, LGT will take a significant minority stake in the fast-growing Fintech and support the further expansion of the company’s offer and geographic reach.
LGT, one of the world’s largest family-owned private banking and asset management groups, will support development and international expansion of LIQID’s offer. LGTs recent investments include Dunst and Appway.

https://www.liqid.de/presse/liqid-announces-88-million-us104-million-funding-round-and-strategic-partnership-with-lgt

New investors SoftBank Vision Fund 2 and Tiger Global Management invest $800 M in Revolut

Led by Nikolay Storonsky, Founder & CEO, Revolut provides a global financial app for people and businesses. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, more than 16 million customers around the world use dozens of its innovative products to make more than 150 million transactions a month.
Backers included new investors SoftBank Vision Fund 2 and Tiger Global Management.

SoftBank Vision Fund specializes in growth capital and social impact investments whose recent investments include Go1 and Nature’s Fynd.

https://www.finsmes.com/2021/07/revolut-raises-800m-in-series-e-valued-at-33-billion.html

Money2020 Europe: 21-24 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-24 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Featured Investors: TriplePoint Ventures, Atlantic Labs, MiddleGame Ventures etc. We feature Q&As with Element Insurance AG and Maschmeyer Group.

Investors in early stage European FinTech deals this week include TriplePoint Ventures (StepEx), Atlantic Labs (Helu), MiddleGame Ventures (Blockpit) etc. We feature Q&As with Christian Macht of Element Insurance AG and Stefan Lemper of Maschmeyer Group.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: Christian Macht of Element Insurance AG
1.​ Tell us a bit about yourself and your company.

ELEMENT Insurance AG is a white-label product supplier for insurance solutions and a leader in insurance digitalisation. We are licensed as a direct insurer for non-life insurance, which enables us to act as a risk carrier, including claims settlement. Founded in March 2017, ELEMENT offers a unique technology platform (‘Insurance as a Platform’) with a focus on the B2B2X value chain: ELEMENT develops for its roughly twenty partners from various industries – from e-commerce to established insurers – custom-made, innovative white-label insurance products at record speed. These products are then marketed by the partners under their own brand.

scaling-enterprise-fintech-christian-macht-of-element-insurance-ag

Scaling Enterprise FinTech: Stefan Lemper of Maschmeyer Group

1. ​A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/ InsurTech) firm in Europe?
Big economic shocks usually open the way for new chances and extremely successful starts were founded during such times. One of the key changes for enterprise startups due to the pandemic is the fact, that sales can be done purely digital and I assume that most of that will stay. This brings bears huge cost and efficiency gains in sales being on of the key ingredients for scale. Customers who were forced to turn more digital and a huge increase in private savings might also fuel growth of new business models in fintech/Insurtech, that can also leverage on lean digital cost structures compared to the incumbents. Last but not least the pandemic lead to increased M&A activities (at high valuations).

http://www.fintechforum.de/scaling-enterprise-fintech-stefan-lemper-of-maschmeyer-group/

The above interviews are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.

Triple Point Ventures and other investors invest £1.1M in StepEx

Led by founder and CEO Daniel George, StepEx aims to widen access to postgraduate and technical education with “next-generation” student finance via Future Earnings Agreements which make courses accessible and affordable. Backers included BBVA Anthemis Venture Partnership, Triple Point Ventures, and angel investors including renowned fintech investor Chris Adelsbach.

The company intends to use the funds for the further development of its machine learning model and user platform, as well as the expansion of the senior team.

Triple Point Ventures is a UK early stage VC investing in high growth companies with top-class teams and market leading products whose recent investments include Springpod and Anorak Technologies.

stepex-raises-1-1m-in-pre-seed-funding.html

Atlantic Labs invests $5 million in Financial management platform Helu

Helu was founded in 2020 by former Speedinvest partner Franz Salzmann, and given his dealings, I can say with a fair degree of confidence that Helu was born from a wish list of tools he wished he’d had at the time.

Helu’s $5 million seed round was led by Atlantic Labs and saw participation from a number of angel investors including Marco Rodzynek (founder of the Noah conference), Fabian Wesemann (founder of wefox), Eric Demuth (founder of Bitpanda), Gilad Novik (former Lakestar partner), Christophe Maire(Atlantic Labs), Oliver Manojlovich (VP Sales at Personio), and other undisclosed individuals.

Atlantic Labs is an early-stage venture capital investment firm that is based in Berlin, Germany whose recent investments include Meetales and Aeditive.

https://tech.eu/brief/financial-management-platform-helu-raises-5-million/

MiddleGame Ventures along with Fabric Ventures, Force over Mass Capital, Tioga Capital, Avaloq Ventures and existing investor Venionaire invest €8.4M in Austria’s Blockpit

Founded in 2017 in Austria, Blockpit develops financial compliance solutions for portfolio management and tax reporting for assets based on blockchain technology. The company claims to be giving advantage to both individuals and corporations who benefit from tax compliance solutions that are permanently audited by the firm. Currently, Blockpit offers its tax reporting services in Spain, France, Germany, Switzerland, Austria and the United States of America.

Today, the company has announced that it has raised $10M (€8.4M) in a Series A funding which is led by MiddleGame Ventures, along with participation from Fabric Ventures, Force over Mass Capital, Tioga Capital, Avaloq Ventures and existing investor Venionaire.

Middlegame Ventures is a fintech​ venture capital firm investing in early stage growth businesses focused on Financial Innovation whose recent investments include Payslip and Capdesk.

https://siliconcanals.com/crowdfunding/blockpit-raises-8-4m/

FinTech Collective, with participation from Entrée Capital and EQT Ventures invests $18M in Willa

Founded in 2019 by a team of serial entrepreneurs and led by Kristofer Sommestad, CEO, aims to enable freelance workers to optimize their working conditions, spend less time on paperwork, and get paid for the work they have done without waiting for their money. Instead of creating invoices and sending them to clients – often waiting 30/60/90 days to get paid – requests are sent and processed in seconds, and funds are available immediately. The client can then pay later at their own terms. Vendor forms and paperwork is automated, and the entire process is compliant with regulatory requirements.

The round was led by FinTech Collective, with participation from Entrée Capital and EQT Ventures.

FinTech Collective is a New York-based venture capital fund, focused exclusively on financial services technology companies whose recent investments include Oxio and Coincover.

https://www.finsmes.com/2021/07/willa-a-sweden-based-creator-economy-fintech-company-raised-18m-in-series-a-funding.html

Sir Peter Wood invests $18 M in Moneyhub 

Led by Samantha Seaton, CEO, Moneyhub provides a platform which offers an agile and suite of Open Banking and Open Finance data connections, intelligence and payment solutions through APIs and white-label products. This means clients in all sectors can access data, analytics and smart, actionable insights, and achieve understanding and engagement with their customers.

The round was led by Sir Peter Wood, via a newly formed investment vehicle SPWOne, which invests and supports a range of innovative businesses across their lifecycle, with participation from all initial investors.

moneyhub-raises-18m-in-total-funding.html

Partners of DST Global and Felix Capital invest $21.5 M in Sweden-based Juni

Sweden-based Juni has raised $21.5 million in a round led by partners of DST Global and Felix Capital. The startup offers an ecommerce-focused digital banking platform. Juni, which raised a $2.5 million seed round last October, will use the Series A capital for product development and to quadruple the size of its team.

fintech-startup-juni-banks-215m-series-a

Apax Digital and other investors invest $100 M in Tide

Led by Oliver Prill, CEO, Tide provides a business financial platform that offers business accounts and related banking services, and a comprehensive set of software solutions, such as full integration with accounting systems. Tide has over 350,000 members and over 400,000 business accounts.

The round – which remains subject to FCA approval – was led by funds advised by Apax Digital, the growth equity team of Apax Partners, with participation from existing investors Anthemis, Augmentum, Jigsaw, Local Globe / Latitude, SBI, and SpeedInvest.

Apax Digital specializes in growth equity & buyout investments in leading software, Internet & tech-enabled services companies worldwide whose recent investments include Faculty Science and Revolution Prep.

https://www.finsmes.com/2021/07/tide-raises-100m-in-series-c-funding.html

Bain Capital and Thrive Capital invest $150 M in Pleo

Launched in 2015, Pleo has opened offices across five different locations in Europe. The fintech firm provides smart company cards to businesses. Pleo has launched several features in recent years, including Reimbursements and Bills. The recent investment is the largest Series C funding received by a Danish-headquartered company.
Pleo, a Denmark-based financial technology firm, recently announced that the company has raised $150 million in a Series C funding round. The latest investment round was co-led by Bain Capital Ventures and Thrive Capital.

In the recent announcement, Pleo mentioned that it has received a valuation of $1.7 billion. The company’s existing investors including Creandum, Kinnevik, Founders, Stripes and Seedcamp joined the latest financing.

https://www.financemagnates.com/fintech/news/danish-fintech-firm-pleo-raises-150-million/

Goldman Sachs Asset Management and Bridgepoint among other investors invest $170 M in Younited

Younited says it has developed “cutting-edge technology to provide a responsible, seamless proposition for customers.” In 2018, Younited launched a B2B solution for digital loans and payment solutions. Younited says that over 30 financial institutions, insurers, and corporates as customers, including Orange Bank, N26, Wizink, Admiral-Conte, HSBC France, Fortuneo, Lydia, are customers. As of 2021, B2B solutions already represent about 30% of Younited’s revenue.

Younited states that Goldman Sachs Asset Management, Bridgepoint, joined shareholders Eurazeo, Bpifrance Large Ventures, and AG2R LA MONDIALE, in the funding round. Younited has raised $400 million since its launch in 2012. To date, Younited has originated in excess of €2.6 billion of loans. The money raised will be used to consolidate Younited’s presence on the European market, in France, Italy, Spain, Portugal, and Germany, the latter four countries already representing 40% of Younited’s revenues.
Goldman Sachs is a multinational financial services firm providing securities, investment banking, and management services whose recent investments include Lendbuzz and InCommodities.

https://www.crowdfundinsider.com/2021/07/177634-france-online-lender-younited-raises-170-million-goldman-sachs-joins-funding/

Pollen Street Capital invest €193 M in Challenger bank bunq- another Amsterdam unicorn!

Founded in 2013 by Lindsey McMurray, Pollen Steet Capital now operates across private equity and credit strategies on behalf of investors, which include, major pension funds, asset managers, banks, and family offices from across the globe.

According to Reuters, with this funding, the British equity firm has acquired a 10 per cent stake in bunq.

After several years of self-funding, bunq has raised €193M in a funding round led by Pollen Street Capital, at a valuation of €1.6B. Ali Niknam, bunq founder, also participated in the investment round. Notably, this is the largest series A investment round ever secured by a European fintech.

Pollen Street Capital is an independent alternative investment manager, focused on investing in the financial and business services sectors whose recent investments include West Creek and Markerstudy Group.

https://siliconcanals.com/news/startups/fintech/amsterdam-bunq-raises-193m/

Heartland and other investors invest €210 M in Lunar 

The Aarhus-based challenger bank, previously known as Lunar Way, was founded in 2015 by Ken Villum Klausen. It has since grown into a Scandinavia-wide company with offices in Copenhagen, Stockholm and Oslo and more than 300 employees. Its Series C funding round in October 2020 raised €40m.

Danish fintech start-up Lunar has raised €210m in a Series D funding round led by Heartland, with Tencent, Kinnevik and Peter Mühlmann, founder of Trustpilot, also participating.

A progressive organization dedicated to building relationships and delivering exceptional service through leading commercial landscape firms across the Central US. They deliver the ordinary in extraordinary ways, by operating their business with a shared vision of excellence—combining best practices and the right tools for the job with ongoing.

lunar-danish-fintech-series-d-unicorn

Money2020 Europe: 21-24 Sep. in Amsterdam
Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

Buy your pass: https://bit.ly/2TjdoEQ

 

Meet us at:

Money2020 Europe, 21-24 Sep. 2021, Amsterdam

South Summit, 5-7 Oct. 2021, Madrid

Web Summit, 1-4 Nov. 2021, Lisbon

FinTech Forum, 18 Nov. 2021, Frankfurt

Slush, 1-2 Dec. 2021, Helsinki

Meet Our Partners: 

Heussen https://www.heussen-law.de
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Funding for FinTech deals include StepEx, Foros, Dyme etc. We feature Q&As with Nigel Verdon of Railsbank and Maximilian Schausberger of Elevator Ventures.

Early stage European FinTech deals include StepEx, Foros, Dyme etc. We feature Q&As with Nigel Verdon of Railsbank and Maximilian Schausberger of Elevator Ventures.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Nigel Verdon of Railsbank

1.​ Tell us a bit about yourself and your company.

Railsbank is the leading global Banking-as-a-Service (BaaS) platform. It enables banks, businesses and brands to define the future of consumer and SME finance.

Marketers, product managers, developers, CEOs and founders are able to take their financial product vision and rapidly prototype, launch and scale using Railsbank’s open finance platform which consists of operations, regulatory licensing and a rich set of APIs.

Railsbank was founded by myself and Clive Mitchell in 2016, in London.

My own background started in the financial services industry. My first job working as an engineer in the motor industry and seeing the high levels of automation and “just in time” manufacturing achieved back in the late 1980’s early 1990’s. In the banking world this is called “straight through processing (STP)” and the financial world could learn much from manufacturing/process engineers in the motor industry.

I then learnt so much working in the capital markets business in one of the most innovative banks in the industry Swiss Bank Corp (today called UBS). This was back in the early-mid 1990s when this “internet thing” appeared on the scene.

Swiss Bank Corp were really the first real innovator to leverage technology in the capital markets area of banking to leapfrog the competition (e.g. better risk management, better options pricing etc.).

I built my first startup, Evolution, based on my experiences at Swiss Bank Corp to take the “internet enablement of capital markets” to many amazing customers like Goldman Sachs and UBS.

Roll on to 2007 and I had just left Dresdner Kleinwort Wasserstein to set up Currency Cloud. I founded Currency Cloud because the experience of a traditional currency broker at the time (name not mentioned!) was charging me 4% “no commission” and asked me to fax back my confirmation note and payment details to them! I didn’t own a fax machine!

So, with a colleague, Nick Bourner from Evolution (who is now currently Chief Architect at Railsbank) we built the Currency Cloud platform to offer straight through processing of physical FX and payments via APIs (we were the trail blazers in the API led fintech industry).

At Currency Cloud, we worked on jump-starting many fintech 1.0 clients like Transferwise, Revolut, Azimo and World Remit, which were born out of a demand by consumers to take more control over their finances and after the trust lost in banks in the aftermath of the credit crunch.

However, the Currency Cloud experience gave me an insight into how the old world banking industry worked, with a realisation that both the banking infrastructure and the banking industry itself, was clearly not adapted to the new digital world, and certainly had no clue about what a well designed API led business should look like. So, this experience led me to co-founding my current startup Railsbank, focused on solving this industry pain point for customers.

http://www.fintechforum.de/scaling-enterprise-fintech-with-nigel-verdon-of-railsbank/

Scaling Enterprise FinTech: with Maximilian Schausberger of Elevator Ventures

1. A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/InsurTech) firm in Europe?

Despite all the difficulties that 2020 has brought for entrepreneurs, some sectors have also benefited. We see Enterprise FinTech benefiting from an increased need for digitalization and for efficient operations in banking and insurance. As an example from the financial sector, Raiffeisen Bank International saw double-digit growth in its mobile banking users over the first half of 2020 (see here). This also creates many opportunities, which seem to have fueled investor appetite in 2020.

http://www.fintechforum.de/scaling-enterprise-fintech-with-maximilian-schausberger-of-elevator-ventures/

These two Q&As are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.

London fintech StepEx raises £1.1M to transform postgrad student finance

Finance for postgraduate and technical qualifications remains outdated and prohibitive. Notably, the best courses are too expensive for a majority of potential students and Government loans do not cover these costs.

Outcome-based finance is an effective solution and opens up enormous economic opportunities for people who would otherwise not be able to pursue these courses that unlock significantly higher earning potential. It is claimed that this model could increase cumulative lifetime earnings by as much as £8 billion.

london-fintech-stepex-funding-20210705

Foros raises €1.2 million, sees the forest for the trees

Vilnius-based green investment platform Foros has taken on its first outside funding and raised €1.2 million. The fresh funding is slated to help the platform further develop its forest investment and management services available in Lithuania and Latvia, push expansion into Estonia and Finland, and develop a forest carbon impact calculator.

Founded in 2017, the Foros platform facilitates the buying and selling of forest land via auctions as well as a forest management service, aptly titled Foros Grow. This service provides for sustainable tree growth through selective logging, removing weaker trees from a forest, thus promoting the long-term health and growth of stronger trees.

https://tech.eu/brief/foros-raises-e1-2-million-sees-the-forest-for-the-trees/

Amsterdam-based fintech Dyme of ‘Dragon’s Den’ fame raises €2M from Peak Capital, others

Keeping track of finance can be a tricky thing! People have much more money today than they did generations ago, but the amount of knowledge on managing money hasn’t kept pace, say experts.

Thanks to technology, we have a lot of convenient ways and solutions to stay on top of our personal finances. A host of new consumer finance brands is transforming how people spend, manage, and save their money.

https://siliconcanals.com/news/startups/amsterdam-dyme-raises-2m/

Traydstream Raises $8M in Series A Funding

Traydstream Limited, a London, UK-based fintech company, raised US$8m as part of a Series A funding round.

Backers included institutional and private investors.

The company intends to use the funds to continue to expand operations and its business reach.

Led by CEO Sameer Sehgal, Traydstream is a global provider of an AI powered platform to digitalize and automate trade finance document checking. The company combines Machine-learning and Artificial Intelligence (AI) with Natural Language Processing (NLP) to create intelligent pattern recognition and near-instant verification of regulatory compliance.

https://www.finsmes.com/2021/06/traydstream-raises-8m-in-series-a-funding.html

White label fintech platform Toqio secures $9.4M Seed led by Seaya and Speedinvest

The upside of the Open Banking regulations which have swept jurisdictions like the UK and the EU is that many more challenger banks have appeared. The headache for either incumbent banks or for upstart startups is the very proliferation of these new banks and financial tech products.

But as we know, in gold rushes, the people selling the picks and shovels usually win. Thus, startups have turned their attention, not to launching full-stack banks, but to full-stack platforms that other people can launch their fintech startups and products upon.

https://techcrunch.com/2021/07/06/white-label-fintech-platform-toqio-secures-9-4m-seed-led-by-seaya-and-speedinvest/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

Remittance service Monisnap raises €10 million

According to the World Bank Group, approximately 1.7 billion people, or roughly 22% of the global population do not have a bank account. When you narrow that number down to emerging populations, the figure jumps as high as 75% in some cases. With these numbers front and centre, it’s not hard to see why sending money back home, or remittances as the process is formerly known, make up as much as 28.4% of the GDP in some parts of the world.

Founded in 2017 with the goal of providing a full-featured set of financial services to those that seek to remit money back to their relatives, Monisnap has raised €10 million from Serena and a number of undisclosed existing investors. To date, the startup has raised €12.5 million.

https://tech.eu/brief/remittance-service-monisnap-raises-e10-million/

Insurtech Hyperexponential Receives $18 Million in Funding Round led by Highland Europe

hyperexponential (hx), a UK-based Insurtech, has raised $18 million in a funding round led by Highland Europe, according to a note from the company. hx states that it is already profitable and the funding will help boost growth and build out its software for the commercial insurance industry.

hx reports that it has created a web-based SaaS platform called Renew that is custom-built to assist actuaries, data scientists, and underwriters.

hx was launched in 2017 by co-founders Amrit Santhirasenan and Michael Johnson, both software engineers and actuaries with more than a decade of experience in senior roles at leading insurers. hx says revenues have increased up to threefold each year since launch.

https://www.crowdfundinsider.com/2021/06/177291-insurtech-hyperexponential-receives-18-million-in-funding-round-led-by-highland-europe/

Danish B2B fintech Pleo hits unicorn status

Pleo, the Danish outfit behind an expense management tool and linked smart company cards, has hit a $1.7 billion valuation thanks to a $150 million Series C funding round co-led by Bain Capital Ventures and Thrive Capital.

Founded in 2015 by former staffers from Danish startup Tradeshift, Pleo provides firms with an out-of-the-box business spending platform that offers smart company cards and automated expense reports for employees.

The new funds will be used to continue growing Pleo’s 17,000+ strong customer base as it aims to reach one million engaged users by the end of 2025.

https://www.finextra.com/newsarticle/38404/danish-b2b-fintech-pleo-hits-unicorn-status

Accenture Buys Sentor

Accenture (NYSE: ACN) acquired Sentor, a Stockholm, Sweden-based independent provider of cyber defense and managed security services.

The financial terms of the deal were not disclosed.

Sentor’s approximately 80 cybersecurity professionals will join the Accenture Security team in Sweden, extending the firm’s local resources and capabilities and addressing the demand for local cybersecurity and managed security services.

Founded in 1998 and led by Åse Holmberg, CEO, Sentor is a provider of cyber defense and managed security services. The company’s portfolio includes advisory services, security testing, managed detection and incident-response capabilities, powered by a 24/7/365 security operations center in Stockholm.

https://www.finsmes.com/2021/06/accenture-buys-sentor.html

 

Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.

This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

CTA – Buy your pass
URL – https://bit.ly/2TjdoEQ

Meet us at:
Viva Technology, 16-19 Jun. 2021, Paris https://vivatechnology.com
4YFN, 28 Jun. – 01 Jul. 2021, Barcelona https://www.4yfn.com
InsurTech Insights, 1-2 Sep. 2021, London https://www.insurtechinsights.com/europe/
Money2020 Europe, 21-23 Sep. 2021, Amsterdam https://europe.money2020.com

Meet Our Partners: 

Heussen https://www.heussen-law.de
Nagarro https://www.nagarro.com/en
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

 

Funding for: Aveni Detect, Emma, Relai etc. We feature Q&As with Sheila Kagan of Paykey and Maximilian Schausberger of Elevator Ventures.

Early stage European FinTech deals include Aveni Detect, Emma, Relai etc. We feature Q&As with Sheila Kagan of Paykey and Maximilian Schausberger of Elevator Ventures.
If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Sheila Kagan of Paykey

1.​Tell us a bit about yourself and your company.

I joined PayKey in March 2020 after years of working as a chief executive at a variety of public and private tech companies in the advertising and gaming industries. Throughout my life I’ve been drawn to the dynamics of the banking industry, and once the opportunity came, I knew PayKey is a FinTech uniquely positioned to leave a mark on an industry that is traditionally lagging behind.

At PayKey we are putting banks at the forefront of embedded banking, by weaving the financial services customers need within their everyday lives. Our patented mobile keyboard

solution allows customers to access a variety of mobile banking services including P2P payments, loans, investments and more within all the social & messaging apps they are regularly using like WhatsApp, Instagram, Facebook and others. With our solution, banks can contextually bring their services to where customers today chat, transact, and make their financial decisions.

http://www.fintechforum.de/scaling-enterprise-fintech-with-sheila-kagan-of-paykey/

Scaling Enterprise FinTech: with Maximilian Schausberger of Elevator Ventures

1. A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/InsurTech) firm in Europe?

Despite all the difficulties that 2020 has brought for entrepreneurs, some sectors have also benefited. We see Enterprise FinTech benefiting from an increased need for digitalization and for efficient operations in banking and insurance. As an example from the financial sector, Raiffeisen Bank International saw double-digit growth in its mobile banking users over the first half of 2020 (see here). This also creates many opportunities, which seem to have fueled investor appetite in 2020.

scaling-enterprise-fintech-with-maximilian-schausberger-of-elevator-ventures

These two Q&As are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.

Aveni Detect Raises £1.1M in Funding

Aveni Detect, an Edinburgh, Scotland, UK-based provider of a speech analytics platform for financial services, raised £1.1m in funding.

The round was led by the TRICAPITAL Angel syndicate, supported by Scottish Enterprise’s Growth Investments, Old College Capital and Wallace Equity.

The company intends to use the funds to launch an AI tool to help identify vulnerable customers, move beyond financial services into other regulated industries, whilst building a team to support its UK expansion.

Led by Joseph Twigg, CEO, Aveni is to launch a platform which uses advances in AI and natural language processing (NLP) to automate processes direct from the customer voice.

aveni-detect-raises-1-1m-in-funding.html

Overfunding: Fintech Emma Secures £1.8M+ via Crowdcube, Is Developing Crypto, Credit Scores, Stock Trading Services

Emma, a company that’s on a mission to be the control center for your money, has secured  £1,889,342 from 2,588 Investors (at the time of writing) via Crowdcube.

Backed by Connect Ventures and other leading VCs, Emma had a £1,000,000 fundraising target. Emma reports a £34 million pre-money valuation, a 5.26% equity, and a £1.75 share price.

The company’s management notes that they’re targeting 1 million customers by the end of 2021.

https://www.crowdfundinsider.com/2021/06/177144-overfunding-fintech-emma-secures-1-8m-via-crowdcube-is-developing-crypto-credit-scores-stock-trading-services/

Relai Raises CHF 2.5M in Series A Funding

Relai, a Zurich, Switzerland-based bitcoin app, raised CHF 2.5m in Series A funding round.

Backers included Redalpine, Polytech Ventures, Fulgur Ventures and ACE & Company.

The company intends to use the funds to build a proprietary broker for efficient order processing and provide new offerings for investors looking to buy large amounts of bitcoin.

Led by Julian Liniger, CEO, Relai provides an app that enables users to invest in bitcoin within minutes, using their own bank account and without additional deposits or registration.

https://www.finsmes.com/2021/06/relai-raises-chf-2-5m-in-series-a-funding.html

Italy’s Young Platform nabs €3.5 million to simplify access to the world of cryptocurrencies

Young Platform, a new platform that simplifies access to the world of cryptocurrencies, has announced raising €3.5 million in a Series A round. United Ventures, the Italian venture capital firm specializing in investments in digital technologies, is the lead investor, with a pool of select Italian and international investors and business angels, including Ithaca Investments, Accel scout Luca Ascani, Max Ciociola, and Pietro Invernizzi, also participating.

Founded in 2018 by six Computer Science students from the University of Turin sharing a passion for blockchain technology since high school, Young Platform aims to simplify access to the world of cryptocurrencies through a hub of digital products. Young Platform is aimed at meeting the needs of different segments of users, from beginners to experts.

https://www.eu-startups.com/2021/06/italys-young-platform-nabs-e3-5-million-to-simplifies-access-to-the-world-of-cryptocurrencies/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+eu-startups+%28EU-Startups%29

Hawk AI Raises USD$10M in Series A Funding

Hawk AI, a Munich, Germany-based software platform for banks, payment firms and fintechs for the detection of transactions linked to financial crime, raised $10m in Series A funding.

The round was led by BlackFin Capital Partners with participation from Picus Capital.

The company intends to use the funds to strengthen its European and U.S. presence, while also expanding to Singapore and the United Arab Emirates, as well as to double its employee headcount by the end of 2022.

Founded in 2018 by Tobias Schweiger and Wolfgang Berner, who both previously held senior leadership roles at PAY.ON (sold for $200M USD) and ACI Worldwide, the global payment systems company, Hawk AI provides a software platform for banks, payment firms and fintechs for the detection of transactions linked to financial crime.

https://www.finsmes.com/2021/06/hawk-ai-raises-usd10m-in-series-a-funding.html

French insurtech Hoggo raises €11 million

I sometimes wonder if the legal, insurance, and New York City alternate parking rules are intentionally confusing. This is an oxymoron, as of course they are. But France’s Hoggo is seeking to change that. Residents will now be able to park on … oh no wait, they’re bringing insurers, accountants, and companies all to the same table and simplifying the game, to the benefit of all.

With an €11 million raise headed up by Partech and participation from GFC (Global Founders Capital), Hoggo is helping companies optimise and simplify the management of their health and risk contracts via a single platform, regardless of the insurer.

https://tech.eu/brief/french-insurtech-hoggo-raises-e11-million/

Kaiko Closes $24M in Series A Funding

Kaiko, a Paris, France-based cryptocurrency market data provider, raised $24m in Series A funding.

The round was led by global financial services investors Anthemis and Underscore VC with participation from Point Nine, Alven and Hashkey Capital. In conjunction with the funding, Sean Park, Anthemis founder and experienced capital markets executive, will be joining Kaiko’s board. Underscore VC’s founder and market data infrastructure investor, Richard Dulude, will also be joining the board.

The company intends to use the funds to continue hiring in the areas of product, institutional sales, business development, and engineering and support expansion into North American and Asian markets.

Led by Founder and CEO Ambre Soubiran, Kaiko aims to serve as a single source for consolidated financial market information.

https://www.finsmes.com/2021/06/kaiko-closes-24m-in-series-a-funding.html

Smart Raises £165M in Series D Funding

Smart, a London, UK-based global retirement savings technology platform provider, raised £165m in Series D funding.

The round was led by Chrysalis Investments, with a £75m equity investment, with additional investors to be announced in the coming weeks. The overall round will comprise £110m of primary and £55m of secondary equity.

The company intends to use the funds to further grow its retirement technology platform offering in the UK, the US, Australia and the Middle East, with additional territories to follow,

Co-founded by Andrew Evans and Will Wynne, Smart is a global savings and investments technology platform provider.

https://www.finsmes.com/2021/06/smart-raises-165m-in-series-d-funding.html

ClearScore Raises $200M in Funding

ClearScore, a London, UK-based credit marketplace, raised $200M in funding at a valuation of $700m.

Invus Opportunities made the long term investment, which is a mix of primary and secondary, with existing investors – QED, Blenheim Chalcot and LeadEdge – together with management, retaining the majority of their positions in ClearScore. Benjamin Tsai of Invus Opportunities joined the ClearScore board, with co-founders Nigel Morris remaining as Chairman and Justin Basini continuing as Chief Executive.

The company intends to use the funds for ongoing investments to expand its team, product suite, and customer base globally.

Led by Justin Basini, co-founder and CEO, ClearScore is a free credit score and financial product marketplace.

clearscore-raises-200m-in-funding.html

Deposit Solutions und Raisin fusionieren

Die einstigen Rivalen verschmelzen. Außerdem: Buzzfeed geht über Spac an die Nasdaq und Confluent legt erfolgreichen IPO hin.

Zwei der größten deutschen Fintechs, Deposit Solutions und Raisin, schließen sich zusammen. Die ehemaligen Konkurrenten verschmelzen zu Raisin DS. Monatelang wurde das Vorhaben geheim gehalten und nun letzten Freitag abgeschlossen. Das Fintech will international, vor allem in den USA, wachsen und europäischer Marktführer werden. Es ist die erste Fusion zweier großer Fintechs aus Deutschland.

Zwei der größten deutschen Fintechs, Deposit Solutions und Raisin, schließen sich zusammen. Die ehemaligen Konkurrenten verschmelzen zu Raisin DS. Monatelang wurde das Vorhaben geheim gehalten und nun letzten Freitag abgeschlossen. Das Fintech will international, vor allem in den USA, wachsen und europäischer Marktführer werden. Es ist die erste Fusion zweier großer Fintechs aus Deutschland.

https://www.businessinsider.de/gruenderszene/business/deposit-solutions-raisin-fusion/?utm_source=rss&utm_medium=rss&utm_campaign=deposit-solutions-raisin-fusion

Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

CTA – Buy your pass
URL – https://bit.ly/2TjdoEQ

Meet us at:
Viva Technology, 16-19 Jun. 2021, Paris https://vivatechnology.com
4YFN, 28 Jun. – 01 Jul. 2021, Barcelona https://www.4yfn.com
InsurTech Insights, 1-2 Sep. 2021, London https://www.insurtechinsights.com/europe/
Money2020 Europe, 21-23 Sep. 2021, Amsterdam https://europe.money2020.com

Meet Our Partners: 

Heussen https://www.heussen-law.de
Nagarro https://www.nagarro.com/en
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Funding for: ShareVision, Threatray, Airbank etc. We feature Q&As with Paul Christensen of Previse and Javier Correa of PostFinance AG.

Early stage European FinTech deals include ShareVision, Threatray, Airbank etc. We feature Q&As with Paul Christensen of Previse and Javier Correa of PostFinance AG.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: with Paul Christensen of Previse
1.​ Tell us a bit about yourself and your company

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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-paul-christensen-of-previse/

Scaling Enterprise FinTech with Javier Correa of PostFinance AG
1. A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/ InsurTech) firm in Europe?

Yes, generally it always is, as long as there is a strong value proposition behind and clearly articulated. There is incremental talent looking to jump into an exciting journey. Customers and prospects have been made strongly aware of additional needs and/or of the advantages from innovative business models/technologies/products and services. In addition, deep pools of capital looking for attractive opportunities to support these teams.

5-questions-with-javier-correa-of-postfinance-ag

These two Q&As are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.
ShareVision Raises $2.1M in Seed Funding

ShareVision, a London, UK-based provider of a financial streaming platform, raised $2.1m in seed funding.

The backers were not disclosed.

The company intends to use the funds to scale its platform.

Led by Amit Jay Shah, CEO, ShareVision provides a platform where both businesses and consumers are streaming content on the stock market, economical updates and financial education.

https://www.finsmes.com/2021/06/sharevision-raises-2-1m-in-seed-funding.html

 

Threatray Raises €2.3M in Funding

Threatray, a Swiss cyber-security analytics company, raised €2.3M in funding.

The round was led by Verve Ventures with participation from existing investors Hammer Team, SICTIC, BackBone Ventures and the innofund by SZKB.

The company intends to use the funds to expand its team.

Led by Endre Bangerter, CEO and co-founder, Threatray provides a malware intelligence platform which gives enterprise and government security teams deep visibility into attempted and unfolding malware attacks, facilitating effective defense and response to cyber-attacks.

https://www.finsmes.com/2021/06/threatray-raises-e2-3m-in-funding.html

 

Airbank receives €2.5 million with scouts from Accel and Sequoia on board

The Berlin-based fintech aimed at helping startups and SMB’s better manage their cash, Airbank, has closed a €2.5 million seed round that saw backing from Accel scout Luca Ascani, and Sequoia scout Marc McCabe.

Founded in January of this year by Chris Zemina (former Principal with Speedinvest’s fintech fund) and Patrick de Castro Neuhaus, Airbank is connecting all bank accounts and financial data and putting it in one place. The startup offers startups and SMB’s bank account aggregation, cash flow management, multi-user permissions, and single sign-on capabilities and has high hopes to become the leading finance orchestration platform in Europe.

https://tech.eu/brief/airbank-receives-e2-5-million-with-scouts-from-accel-and-sequoia-on-board/

 

Polish fintech Booste raises €12m and plots expansion into Ireland

The newly raised capital will help the start-up grow its team and expand into markets such as the UK, Ireland and the Netherlands.

Poland’s Booste has raised €12m from investors to bring its revenue-based financing system to e-commerce businesses in more countries – including Ireland.

The Warsaw-based start-up provides flexible financing to companies, with a particular focus on the e-commerce sector, to help them fund digital ads, marketing campaigns and inventory spend.

https://www.siliconrepublic.com/start-ups/booste-poland-fintech-expand-ireland

 

Fintech startup Volt collects $23.5M

London-based Volt has raised $23.5 million in a Series A led by EQT Ventures. The startup’s open payments gateway allows merchants and payment service providers to process transactions securely between accounts in Europe. Augmentum Fintech and Fuel Ventures were among the investors participating in the round, which Volt will use to fund product development and its international expansion.

https://pitchbook.com/newsletter/fintech-startup-volt-collects-235m

 

Coinbase backed DeFi platform Tesseract raises $25 million

Helsinki’s Tesseract, which specialises in bridging institutional capital flow between traditional and digital asset finance has raised $25 million in one of the largest Series A rounds in Finland to date.

The startup was founded in 2017 and offers margin lending, OTC lending, partnerships with retail trading platforms, and decentralised finance. Tesseract offers a white-label solution for retail trading platforms, exchanges, custodians, fiat on-ramps and and wallet providers and reports a “one of a kind” margin lending platform in use by hedge funds and market makers.

https://tech.eu/brief/coinbase-backed-defi-platform-tesseract-raises-25-million/

 

Hellas Direct Raises €32M in Funding

Hellas Direct, a Athens, Greece-based technology-driven insurance company operating in Greece and Cyprus, raised a further EUR 32m in funding, bringing the total raised to date to €56m.

Backers included the European Bank for Reconstruction and Development (EBRD), Portag3, the IFC (member of the World Bank Group), Endeavor Catalyst and family offices including those of Jon Moulton and Lord O’Neill.

Led by Alexis Pantazis and Emilios Markou, Hellas Direct is a digital-first, full-stack insurance company, empowered by technology and the use of advanced analytics.

https://www.finsmes.com/2021/06/hellas-direct-raises-e32m-in-funding.html

 

AI-powered insurance pricing automation platform Akur8 raises $30 million

Akur8, who uses a proprietary “Transparent AI” to automate insurance pricing, has landed $30 million from BlackFin Capital and MTech Capital in order to help actuaries and pricing teams make better, faster decisions. To date, Akur8 has raised $42 million.

Founded in 2018 by Guillaume Beraud-Sudreau and Samuel Falmagne, Akura8 automates the generation of pricing models, while still allowing actuaries to have control over the process. The startup combines the power of machine learning and the transparency required in the highly regulated insurance rating-making industry.

https://tech.eu/brief/ai-powered-insurance-pricing-automation-platform-akur8-raises-30-million/

 

10x, a UK fintech, raises $187M to build new services for old banks

As so-called neobanks continue to gain more traction in the market with their more modern takes on banking and other financial services, a startup that’s building technology to help incumbent players better compete is announcing a big round of funding.

10x Future Technologies, a London-based fintech that helps larger, established banks build both next-generation services as well as tools to help their older services work more efficiently, has raised $187 million. We understand from sources close to the company that 10x’s valuation with this round is in the range of $700 million.

https://techcrunch.com/2021/06/15/10x-a-uk-fintech-raises-187m-to-build-new-services-for-old-banks/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29&guccounter=1

 

Dutch payments startup Mollie raises another $800M at a $6.5B valuation

A payments startup whose backend was originally built by the founder while still living with his parents and bootstrapping the company is today announcing a massive round of funding that catapults it into being one of the most valuable startups in Europe. Mollie, an Amsterdam-based startup that provides a way for businesses to integrate payments into sites, documents and other services by way of an API, is today announcing that it has raised €665 million ($800 million) in an all-equity round that values the company at €5.4 billion ($6.5 billion).

Blackstone Growth (BXG), Blackstone’s growth equity investing business, led the investment, with participation also from EQT Growth, General Atlantic, HMI Capital, Alkeon Capital and TCV.

https://techcrunch.com/2021/06/22/dutch-payments-startup-mollie-raises-another-800m-at-a-6-5b-valuation/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

 

Radical change requires a radical catalyst. Fintech has a big journey to go on, and Money20/20 Europe is here to help you take the first big leap into the unknown.
This is the only place where the whole community, from payments to banking to retail to regulation and beyond, comes together to make the decisions that shape the future.
This September, get ready for a reimagined Money20/20 Europe experience that puts you in the driving seat. The conversations that take place here will decide our collective trajectory.

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URL – https://bit.ly/2TjdoEQ
Meet us at:
Viva Technology, 16-19 Jun. 2021, Paris https://vivatechnology.com
4YFN, 28 Jun. – 01 Jul. 2021, Barcelona https://www.4yfn.com
InsurTech Insights, 1-2 Sep. 2021, London https://www.insurtechinsights.com/europe/
Money2020 Europe, 21-23 Sep. 2021, Amsterdam https://europe.money2020.com

Meet Our Partners: 

Heussen https://www.heussen-law.de
Nagarro https://www.nagarro.com/en
Opportunity Network https://www.opportunitynetwork.com/fintech-forum
Money2020 Europe https://europe.money2020.com
InsurTech Insights https://insurtechinsights.com
Finovate Europe https://informaconnect.com/finovateeurope/
FN FinTech 40 https://www.fnlondon.com

Scaling Enterprise FinTech: with Paul Christensen of Previse

This interview is part of Scaling Enterprise FinTech | The Handbook, launched in Mar. 2021 in partnership with SixThirty Ventures and Finovate Europe. The Handbook includes proprietary research on ca. 65 Enterprise FinTech scaleups in Europe, Q&As with 16 founders on their journey to scale, as well as insights from 10 leading investors and financial institutions. Whether you are a founder with an idea, an early stage startup looking for inspiration and learnings, or an investor or financial institution looking to understand the difficult but rewarding journey to building a world-class Enterprise FinTech firm – download the Handbook here http://www.fintechforum.de/sef/

1.​ Tell us a bit about yourself and your company

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.

2.​ Give us the backstory- how did you get the founding idea, and how did the first sale come about?

B2B payments are archaic – suppliers wait and chase for months to get paid. It is monumentally inefficient. Imagine if you went into Starbucks, ordered a coffee, and said: “Send me an invoice, I’ll pay you in 60 days.” That would be mad. And yet, that’s how business works.

The founding idea came from a hunch – that perhaps we could use data to fix this? Our hypothesis was that there would be enough predictive power in the payables data of large corporates to precisely assess the risk on any given invoice, so that we could facilitate instant payment without the months of manually checking invoices. So we tested our hypothesis, and it turns out that we were right. But, as any successful entrepreneur or investor will tell you, an idea counts for nothing. It is all about execution. And it is all about the team that executes. And in Enterprise Fintech, that takes a decade. In fact, conviction in the sanctity of your idea is a huge blocker for a start up – because it stops you learning and iterating. We definitely suffered from that in the first few years.

The first sale was an introduction from an early investor, for which we are forever grateful. I met with the Chairman of a very well known global firm, and within 10 minutes he said: “This is brilliant, we’re in.” Unfortunately, that gave me an unrealistic expectation of enterprise sales …….

3.​ Could you summarize your journey to scale from a sales, go-to-market and business development perspective, perhaps split into 2-3 key phases?

Phase 1 was all about testing the hypothesis – can this work? Is there enough predictive power in the payables data of a large corporate to price the risk on an invoice? Having proved that, phase 2 of the journey was building the platform to industrial strength, so that it was ready for enterprise customers. And we are now in phase 3, having proved our model and built the platform, it is all about go-to-market and making our solution available to millions of SMEs. We use a combination of direct sales to large corporates, channel sales to large corporates, and embedding our solution with the leading existing players in the industry so we can enable them to deliver better products.

4. ​Which was the most challenging phase, and what would you have done differently?

The most challenging phase is always the one that you are in! And I will know what we should have differently once we are past this phase and can look back on it with 20/20 vision in hindsight. But generally the biggest learning is to listen. No-one has the right answer. No-one has a great product or a genius idea. But everyone has the ability to listen, to empathise, to find pain points of customers, and build solutions for them.

5.​ When did you decide to expand to the international/ US market, and how?

 

We’re unusual for a fintech in that our solution is global right out of the gate – as any large corporate has suppliers in multiple countries. So we simply followed our initial clients and partners, first to the US and shortly to Asia and LatAm.

6.​ When did you first decide to raise venture capital, and what has been your approach to financing growth over the years?

For us it wasn’t a decision, as it was a necessity. We weren’t in a position to boot strap, and what we were undertaking was very ambitious – to change the way business is done, globally. So we raised venture capital at the seed stage, and have continued that strategy over several rounds.

7.​ How is building an Enterprise FinTech firm different from a “regular” SaaS / Enterprise Tech company, and what three things should founders get right?

FinTech is of course different. It’s more complicated and the stakes are higher. “Build fast and break things” is not an option in regulated markets. Founders need to be very patient – it takes a long time. They need to take compliance seriously. And they need to have real credibility .

8.​ What’s on the priority list for you and your team for the next year?

Execution. And selling. Over the last 5 years, we’ve built the foundations to fundamentally change how business is done globally, and to fundamentally transform the $125 trn of B2B commerce. We have partnered with some terrific leaders in the space, and now the priority is go-to-market and getting an incredible product into the hands of millions of businesses.

9.​ Where is the financial services sector headed in the next 12-18 months, and what should we be watching out for?

 

The pandemic will have a big impact – it has accelerated a lot of innovation, created real demand for more efficient finance, and also exposed some business models. We will see a real acceleration in banks and fintechs partnering – the smart banks will continue to realise that not only they can’t build everything themselves, but they shouldn’t!

10.​ Your favorite place(s) for a meal, coffee or drink (pre-COVID19)?

Lemonia, Primrose Hill. It’s a family run Greek restaurant just around the corner, and a real gem. I don’t think the menu or people have changed in the 20 years we’ve been going – and that’s a great thing!

LemonEdge, Cyber Guru, wajve etc. We feature Q&As with Michael Mueller of Form3 Financial Cloud and Stefan Lemper of Maschmeyer Group. 

Early stage European FinTech deals include LemonEdge, Cyber Guru, wajve etc. We feature Q&As with Michael Mueller of Form3 Financial Cloud and Stefan Lemper of Maschmeyer Group.

If you are an early stage startup in Europe building the next big thing in FinTech, reach out to Frank Schwab or Samarth Shekhar.

Scaling Enterprise FinTech: Stefan Lemper of Maschmeyer Group

1. ​A year since the first lockdowns- is this is a good time to be building or scaling an Enterprise FinTech (/ InsurTech) firm in Europe?

Big economic shocks usually open the way for new chances and extremely successful starts were founded during such times. One of the key changes for enterprise startups due to the pandemic is the fact, that sales can be done purely digital and I assume that most of that will stay. This brings bears huge cost and efficiency gains in sales being on of the key ingredients for scale. Customers who were forced to turn more digital and a huge increase in private savings might also fuel growth of new business models in fintech/Insurtech, that can also leverage on lean digital cost structures compared to the incumbents. Last but not least the pandemic lead to increased M&A activities (at high valuations).

http://www.fintechforum.de/scaling-enterprise-fintech-stefan-lemper-of-maschmeyer-group/

Scaling Enterprise FinTech: with Michael Mueller of Form3 Financial Cloud

1.​ Tell us a bit about yourself and your company.

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 XX countries in Europe with about XX 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.

http://www.fintechforum.de/scaling-enterprise-fintech-with-michael-mueller-of-form3-financial-cloud/

These two Q&As are part of Scaling Enterprise FinTech | The Handbook, featuring Q&As on the journey to scale, lessons learnt etc. with 16 founders and 10 leading investors.

UK Fintech LemonEdge Secures $2.5M in Oversubscribed Round led by Sidekick Partners

London-headquartered Fintech firm LemonEdge (previously doing business as LemonTree Software) has acquired $2.5 million in capital as part of an oversubscribed round that was led by Sidekick Partners, a venture firm with strong ties to the North American private equity industry.

Sidekick Partners is joined in this latest investment round by Tikhon Bernstam, founder of Parse and Scribd, and Lauren Iaslovits, founder of Investran and a pioneer of private capital market technologies.

As mentioned in a release shared with CI, LemonEdge enables companies operating in the private equity and financial services sectors to digitize complex accounting processes, many of whom may be running on outdated, unsecure legacy systems or spreadsheets.

The Global Financial Services Application Software Market is valued at around $144 billion and it’s on track to expand by 8% by 2025.

https://www.crowdfundinsider.com/2021/06/176461-uk-fintech-lemonedge-secures-2-5m-in-oversubscribed-round-led-by-sidekick-partners/

Cyber Guru Raises € 3.6M in Series A Funding

Cyber Guru, a Milan, Italy-based cyber security awareness training platform, raised € 3.6M in Series A funding.

The round was led by P101 SGR, which invested €2.1m through its second fund, P102, and through ITALIA 500 (Azimut Group), with participation from Adara Ventures, which invested €1.5m.

The company will use the funds to further product development and scale internationally across Europe.

Founded in 2017 by Gianni Baroni, CEO, and bootstrapped until this round, Cyber Guru is a Cyber Security Awareness training platform designed to increase company’s cyber resilience by strengthening the human factor.

https://www.finsmes.com/2021/06/cyber-guru-raises-e-3-6m-in-series-a-funding.html

Berlin’s financial app for Gen Z wajve raises €5 million in seed round

Berlin-based financial app for Gen Z wajve has raised €5 million in a seed round led by EQT Ventures with participation from 468 Capital. Angel investors Lucas von Cranach (CEO of OneFootball), Roland Grenke (co-founder of Dubsmash and Acapela Group), and Christian Gaiser (CEO of COSI) are also on board. Wajve is reporting that the funding will be used to accelerate the roll-out of the platform in Germany before expanding into additional European markets.

Founded in 2021 by Bastian Krautwald and David Meyer is a financial platform that offers banking, financial advice, and education all under one umbrella, with the specific goal of meeting the digital native Gen Z generation, who now compromise 32% of the global population.

https://tech.eu/brief/berlins-financial-app-for-gen-z-wajve-raises-e5-million-in-seed-round/

Ecommerce fintech Booste plots London launch after €12m funding round

Booste, a Polish fintech offering revenue-based financing to ecommerce companies, is planning to launch in London after raising €12m (£10m) in a fresh funding round.

The startup, which was co-founded by former Uber Eats executive Jakub Pietraszek, provides ecommerce firms with funding to finance growth through digital ads on Facebook and Google, marketing campaigns and inventory spend.

https://www.cityam.com/ecommerce-fintech-booste-plots-london-launch-after-e12m-funding-round/

Hokodo Raises $12.5M in Series A Funding

Hokodo, a London, UK- and Paris, France-based B2B Buy Now Pay Later provider, raised $12.5m in Series A funding.

The round was led by Mosaic Ventures with participation from Anthemis, Notion Capital and angel investors including Taavet Hinrikus, founder of TransferWise (now Wise), Thijn Lamers, former EVP, Global Sales of Adyen, Max Bittner, CEO of Vestiaire Collective and founder of Lazada and Rich Laxer, ex-Chairman and CEO of GE Capital.

The company intends to use the funds to further develop its proprietary digital credit technology and extend its services across Europe, supporting the growth of the $12TN B2B commerce space

Founded in 2018 by Richard Thornton, Louis Carbonnier and Sami Ben Hatit, Hokodo provides B2B merchants with real-time trade credit solutions.

https://www.finsmes.com/2021/06/hokodo-raises-12-5m-in-series-a-funding.html

Upflow raises $15 million to manage your outstanding invoices

French startup Upflow has raised a $15 million Series A round. The company wants to help you chase late payments. It optimizes how you collect payments from your customers in order to improve your cash-cycle.

Investors in today’s funding round include 9yards Capital, existing investor eFounders, as well as N26 co-founder Maximilian Tayenthal, Uber SVP of Delivery Pierre-Dimitri Gore-Coty, auxmoney co-founder and CEO Raffael Johnen.

People who run a business often tell you that getting paid is a consuming task. When you create an invoice, chances are your customer will wait a few weeks before paying you. Most companies end up with a backlog of outstanding invoices sitting in an Excel spreadsheet.

https://techcrunch.com/2021/06/14/upflow-raises-15-million-to-manage-your-outstanding-invoices/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Techcrunch+%28TechCrunch%29

Bristol-based cybersecurity skills trainer Immersive Labs raises $75 million in Series C round

Bristol’s Immersive Labs, which measures and helps companies improve cybersecurity skills across technical and non-technical teams has raised $75 million in a Series C round led by new investors Insight Partners The round also saw participation from Menlo Ventures, Citi Ventures, and existing investor Goldman Sachs Asset Management.

Immersive Labs is reporting that the new funds will be used to accelerate delivery of a new product lineup and expand international presence with a focus on the European and APAC markets. Including this round, the firm has raised $123 million across 5 rounds.

Much like we reported last week with Milan’s Cyber Guru’s raise of €3.6 million, cybersecurity is become a major issue, and not just for individual attacks, but the costs associated with corporate breaches can be severe.

https://tech.eu/brief/bristol-based-cybersecurity-skills-trainer-immersive-labs-raises-75-million-in-series-c-round/

Klarna Raises USD 639M in Funding; Valued at USD45.6 Billion

Klarna, a Swedish global payments provider, retail bank, and shopping service, raised USD$639m in equity funding.

The round, which post-money valued Klarna at USD 45.6 billion, was led by SoftBank’s Vision Fund 2 with participation from existing investors Adit Ventures, Honeycomb Asset Management and WestCap Group, Klarna’s other investors include Sequoia Capital, SilverLake, Dragoneer, Permira, Commonwealth Bank of Australia, Bestseller Group, Ant Group, Northzone, GIC – Singapore’s sovereign wealth fund – as well as funds and accounts managed by BlackRock and HMI.

The company intends to use the funds for international expansion and global retail growth.

Led by Sebastian Siemiatkowski, Founder and CEO, Klarna enables consumers to shop, pay and bank via smart tools including a consumer shopping app, used by 18m customers worldwide as well as at over 250,000 retailers globally.

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