Early stage European FinTech deals include Barbara IoT, Coinrule, InvestSuite etc. We feature Q&As with Hans de Back of Finch Capital and Steve Toland of TransFICC.
The 12th FinTech Forum is a wrap- check out the event in tweets.
Scaling Enterprise FinTech: with Hans de Back, Finch Capital
Hi Hans, good to meet you. About a year and a half since we last met. Let’s get right on with the interview. Tell us a bit about yourself, both at work as well as at leisure.
Hans de Back
Sure. Okay, so my name is Hans de Back. I’m a General Partner at Finch Capital. I am Managing Partner at Finch Capital since 2015. I’m based in Southeast Asia. So we as a FinTech VC we invest in two regions, Europe and Southeast Asia. So I’m responsible for our Southeast Asian activities. Radboud is looking after Europe.
My background is that I’ve been an entrepreneur myself from 2000 till 2011, but in the mobile marketing and advertising space. So I’ve built companies together with two partners all the way from a startup to an IPO to a listing. So I think it’s an entrepreneurial experience in the companies and I have leveraged that experience in the companies we invest in. Then from 2011 till 2014 I’ve been an angel investor. I moved to Singapore in 2011 and started investing as an angel in in technology companies with a very broad focus, ecommerce, social media, but also FinTech and that’s where I started to work with Radboud. We did some deals sharing and co-investments, and then decided to set up Finch Capital. So that’s a bit about my work.
Yeah, so what what I like outside of work is, I like to run. That’s an easy way to exercise. I cannot commit myself or force into team sport. So yeah, just sneakers in your suitcase. And, you know, when you’re traveling, it’s easy to take them out of the suitcase and start running this route. Sometimes running away from your problems.
Scaling Enterprise FinTech: with Steve Toland of TransFICC
1. Give us the backstory – what were you up to before starting up, how did you get the founding idea?
The idea behind TransFICC came from my two prior job roles. I was leading sales at LMAX, an FX (Foreign Exchange) Trading venue and it was a real problem to get banks to code to our trading API – typically it took banks 3-6 months to complete coding work and due to this cost, many banks were unwilling to take on the work. This was a huge bottleneck and therefore business problem for both LMAX and the banks.
I found a technology provider who had a great business model, a ‘Hosted API translation’ service for FX (simpler and lower cost) to help with the above problem. I ended up joining that company and although the business model was good, the technology was not stable or flexible. At the same time one customer approached me and asked about building out the firm’s solution for Fixed Income trading markets. Due to the technology flexibility issues, the company was unwilling to look at Fixed Income markets.
After doing some due diligence to ensure that several banks had the same business/technology issues in Fixed Income, I approached two of my ex LMAX developer colleagues with the TransFICC idea.
Madrid-based Barbara IoT lands over €400K for its operating system for industrial IoT
Spanish startup Barbara IoT has closed a round of over €400K, to grow its operating system that solves the key challenges of the Industrial IoT: lack of flexibility, security and scalability. The round was led by Global Omnium through its vehicle GoHub Ventures, which also includes the Seed Capital of Bizkaia funds of the Provincial Council of Bizkaia and Basque Fund, a management company of venture capital entities belonging to the SPRI of the Basque Government.
Founded in 2017, Barbara IoT has positioned itself as one of the most promising startups in the area of the Internet of Things and Cybersecurity, and aspires to lead the global market with an e-insurance operating system for connected industries.
With its secure Barbara OS operating system, it protects internet-connected devices in industrial plants from cyberattacks and facilitates their deployment and management, thus helping to securely digitize the industry.
London-based trading platform Coinrule raises €570K on Seedrs to democratise access to finance
Coinrule, an automated trading platform, recently announced that its round on Seedrs has secured over 200% of its target, raising around €570K, with a valuation of around €5 million. The fresh funds will allow Coinrule to grow its team, expand into the fast-growing market of tokenized stock trading, and further democratize access to finance.
Founded in 2017, Coinrule lets users automate investments across multiple platforms to protect the user’s funds and catch the next great market opportunity without having to learn a single line of code. In other words, it’s a unique tool for all non-professional traders, hobbyist investors, aspiring traders and the general public looking to manage their savings.
Belgian startup InvestSuite raises €3 million to continue global expansion
Belgian wealthtech company InvestSuite has secured another €3 million in funding after raising €2 million earlier this year. As part of this round, existing backer PMV invested an additional €800,000, alongside AB Accelerator, 365.fintech and others.
InvestSuite offers ‘as-a-Service’ solutions to financial institutions for managing wealth and investments. Specific products cover multi-asset trading (SelfInvestor), quantitative portfolio construction (Optimizer) and portfolio reporting (StoryTeller).
Global Savings Group raises € 12 Million in their most recent financing round
Munich, 16 December 2020 – The Global Savings Group (GSG), the leading European platform for rewards, cashback, savings opportunities, and shopping content, secured 12 million euros in a recent financing round. The investors’ list includes Rocket Internet, Holtzbrinck Ventures, DTCP, RTP Global, and M6, increasing their existing shares in the company.
Founded in 2012, the GSG has witnessed exponential growth within more than twenty markets worldwide. The company currently has offices in eight countries, covering the major time zones, with a team of over 500 tech, marketing, account management, and content specialists.
Bristol’s Brightpearl raises $33M Series C round led by Sage to boost its platform for retailers
Brightpearl, which allows retailers to streamline their operations thus boosting sales, has raised $33 million in funding to scale its business. This Series C round was led by Sage, which has put $23 million into the U.K. company. Previous backers Cipio Partners, Notion Capital and Verdane also participated, putting in $10 million.
The Bristol, U.K.-based startup has a platform for financial management, CRM, fulfillment, inventory and sales order management, purchasing and supplier management, warehousing and logistics.
“Meet” us at:
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