Early stage European FinTech deals include Monavate, Butter. We feature Q&As with Stefan Lemper of Maschmeyer Group, Christian Macht of Element Insurance AG and Simone Mancini and Matthias Trusheim of Scalapay.
Scaling Enterprise FinTech | The Handbook is out!
Launched 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 who have “been there and done it” as well as insights from 10 leading #venturecapital investors. 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/
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).
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.
7 Questions with Simone Mancini and Matthias Trusheim of Scalapay
1. Please give us some background on your story – where do you originally come from, and what inspired you founding Scalapay?
Simone Mancini, CEO & Co-Founder, Scalapay: Before founding Scalapay, Johnny Mitrevski (now CTO of Scalapay) and I worked for a payment company in Australia. We learned first-hand the challenges retailers face during those years, such as customer acquisition, conversion, retention, and associated time-consuming back-office tasks. We concluded that the time is right for something better and simpler. We developed Scalapay to help merchants growing their business using installments and, at the same time, offer consumers a better shopping experience.
UK Fintech Monavate Acquires £5M in Seed Funding, Now Focused on Rapidly Expanding Operations
UK-based Fintech firm Monavate says it’s focused on rapidly expanding its operations after securing £5 million through a seed funding round. Cambridge-based Monavate offers a “new-to-market” payment solution. The company confirmed in a release that it has managed to acquire funding from a “major” US institutional investor.
Monavate offers a “technology-enabled, compliance and card scheme sponsorship platform, that simplifies the way companies create, manage and grow financial products.”
Monavate is reportedly a Financial Conduct Authority (FCA)-regulated e-money institution and “direct member” of Mastercard and Visa, “offering BIN sponsorship for issuing and ATM acquiring programs.”
BCI Finance and a number of private Angel investors invest £15.8 million in Butter
London-based FinTech platform Butter has closed a £15.8 million funding round to accelerate the rollout of its responsible open-banking based BNPL shopping app. The round was led by BCI Finance, the credit arm of London based venture builder Blenheim Chalcot, as well as a number of other private Angel investors.
Timothy Davis, Co-Founder and CEO of Butter, commented, “We’ve set out to achieve this by building a platform focussed around transparency, responsible lending and the ability to transact on bigger ticket items compared to other providers, whilst also offering more choice to customers through our unique over-the-top solution, which enables consumers to shop any online store in existence with Butter. The funding that we have secured via BCI will help facilitate the scale-up of our business as we continue to pioneer innovation in the buy now pay later space.”
At BCI, the core focus is to provide disruptive tech-enabled lenders with the capital they need to scale.
Meet Our Partners:
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