Muume closes CHF 2.2 million Series A financing round
Muume, a Cham based social mobile payment provider with enhanced loyalty, couponing and merchant point of sale, has received CHF 2.2 million in series A for growth financing. The company will use the funds to foster further market entry and international expansion.
FinTech Forum On Tour | Robo Advice: the event in tweets
Bringing together twenty leading European startups in the digital investment management space with leading investors, incumbents and regulators, the FTF On Tour | Robo Advice on 8th June in Berlin was a must-go for professionals in this sector. For those who missed it, here is the event in tweets.
HPE Growth Capital Acquires Minority Stake in Wincor Nixdorf’s Cashless Payments Business for Approximately $23 mm
In the context of a capital increase worth up to EUR 30 mm (approximately $34 mm), HPE Growth Capital is acquiring a minority stake in AEVI, a subsidiary of Wincor Nixdorf AG, with retroactive effect from October 1, 2015. In an initial tranche, a capital increase of EUR 20 mm (approximately $23 mm) was facilitated; however, HPE and its investors have the option of purchasing further shares in AEVI in a second tranche worth up to EUR 10 mm (approximately $11 mm). Wincor Nixdorf intends to retain a majority holding in AEVI in the long term, too.
Swisscom Ventures launches FinTech fund
Swisscom is boosting its co-operation with FinTech start-ups. A Swisscom internal FinTech cluster, led by Johannes Höhener, is institutionalising co-operation with young companies in the financial industry. Swisscom Ventures is also being expanded by a dedicated FinTech Fund over CHF 10 million.
Raisin and Younited Credit cooperate on the German-speaking markets
Raisin, the pan-European online savings platform, and Younited Credit (formerly Prêt d’Union), the leading P2P lending platform to individuals in France, announce today the start of their international collaboration. Weltsparen, the name of the Raisin platform in German-speaking markets, will now offer Younited Credit term deposits accounts to individuals residing in Germany and Austria.
Hackathon-Accelerator fördert Fintech
BNP Paribas fördert Fintech mit einem innovativen Hackathon-Accelerator Programm für Startups aus allen Branchen. Die Eröffnungsrunde findet vom 17.-19. Juni 2016 im betahaus Berlin statt. Startups können sich bis zum 7. Juni bewerben.
Kreditech and the next generation of Consumer Banking
Consumer Banking is fundamentally about lending and non-bank lending (whether called AltFi, Marketplace Lending or P2P Lending) is already a mature market. Consumer Banking has taken 73% of Fintech investment to date (vs only 10% each for Asset Management) and Insurance) and has had the first IPOs and the first big blow ups. Now we are seeing the tipping point for challenger banks as well as the tipping point for incumbent bank branch closures. Looking past all the noise, we seek to find where the puck is headed and this took us to the unlikely Fintech capital of Hamburg to find out what Kreditech is up to (apart from recently closing a $103m Series C round).
PayPal Gets Into the Bitcoin Game
PayPal has filed a patent for a new device that will allow for the acceptance of digital currency. The e-payment network has long hinted at a possible relationship with bitcoin, but several weren’t sure if purchasing bitcoins through PayPal’s platform was as far as the relationship would go. Happily, this doesn’t seem to be the case.
Micro-transactions conglomerate SatoshiPay is releasing a new API, which can be integrated into several different websites and online platforms.
Robo-adviser Scalable Capital welcomes first clients
The digital wealth manager invited those who signed up to its UK waiting list to go through the risk assessment process, before seeing their funds go live on the platform.
Finleap startet Crowdinvesting für Immobilien
Der Fintech-Inkubator Finleap glaubt an den Immobilienmarkt. Mit Zinsbaustein.de starten sie ein Crowdinvesting-Portal für Objekte wie Wohnheime oder Brauereien.
Number26 wirft Kunden raus und versagt bei Krisen-PR
Gute Krisen-PR geht anders! Number26 verärgert mit Kündigungen mal eben einige Hundert Kunden und – was noch viel schlimmer ist – verunsichert damit auch andere Kunden. Number26 vergisst dabei einen wichtigen Punkt: Der Kunde ist immer König. So agiert das Start-up fast wie eine normale Bank.
Wie sich Number26 zurückkämpfen kann
Der eine oder andere Sparkassen-Chef wird heute das Handelsblatt mit einem hämischen Lächeln zur Seite gelegt haben. In der heutigen Ausgabe stand ein Kommentar zu den Kontokündigungen von Number26, die Ende der vergangenen Woche das Netz in Aufruhr versetzt haben. Die plakative Überschrift: „Die Entzauberung“.
Interview with Michael Mellinghoff on Future Proof Financial Services & FinTech Startups
… I do not see hindrances for growth. Financial services will grow, just with (a lot) lower profit margins than in the past. When FinTech startups with digital DNA are able to undercut prices of incumbents significantly the available profit pool shrinks significantly. But this opens also new market opportunities in client segments that so far have been not tapped or in new market segments that have emerged, for example the clients in the so called “advice gap”.
Wirecard: Is It Too Good To Be True?
Wirecard’s fundamentals are outstanding and the company projects to double its revenue and net income by 2020.