Newsletter 18 Dec. 2019

The FinTech Forum newsletter – covering the latest thinking from European FinTech founders, investors and financial institutions, as well as key funding rounds and M&A – turns six years old next month. For a glimpse of FinTech history, check out our year-end newsletter from Dec. 2014. Last month we wrapped up our 11th FinTech Forum event, and – while we can’t promise to keep our eyes off the European FinTech scene – we will be taking a couple of weeks off before we are back in the new year. Here is wishing you all happy holidays, Merry Christmas and a great start into 2020!

Rise of Payment Service Providers- FTF Think Tank

Whether PayPal, Adyen, stripe, transferwise, PayU, Wirecard or PAYONE – years ago the first startups of the still young FinTech industry, they have now developed into serious financial services companies. The development of the payment industry is already showing where the journey of the retail banking industry is going.
7 Questions with Christian Knott, Capnamic Ventures

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

Well, I am the typical business student, did my bachelor in Cologne, Master in Leipzig. Worked briefly for the European Commission but that was not my hometurf. Started working in Venture Capital in 2010 and am with Capnamic for 5.5 years now. Since 2018, I am partner…


Christian was among the leading early-stage investors covering European FinTech innovation areas and investment trends at the 11th FinTech Forum, 21st Nov. 2019 in Frankfurt:



Wefox, the Berlin-based insurtech, raises $110M Series B extension

Wefox Group, the Berlin-based insurtech startup behind the consumer-facing insurance app and carrier One and the insurance platform Wefox, is disclosing $110 million in a second tranche of Series B funding. Sources tell TechCrunch that this gives the company a pre-money valuation of $1.65 billion. Wefox Group declined to comment on the financials. The Series B extension is led by OMERS Ventures, the venture capital arm of Canadian pension fund OMERS. Merian Chrysalis, Samsung Catalyst Fund and Mundi Ventures also participated, along with existing investors.



AU10TIX Raises $20M in Funding

AU10TIX, a Nicosia, Cyprus-based global provider of a cloud-based, machine learning, ID verification and authentication platform, raised $20m in funding.

Oak HC/FT made the investment into ABC Technologies B.V., parent of AU10TIX Limited. The company intends to use the funds to continue to grow in the identity verification and document verification market.


Romanian startup FintechOS raises €12.6M to transform traditional banks

In the latest development, FintechOS, the technology as a service platform for financial services organisations has secured GBP 10.7 million (approx €12.6 million) in a Series A round.  The funding round was led jointly by Earlybird‘s Digital East Fund and OTB Ventures, with participation from existing investors Gapminder Ventures and Launchub. The capital will be used to accelerate the growth across Europe and to expand to South East Asia and the US markets.


Zurich-based Sonect, the app converting any shop into a ‘virtual ATM’, snaps up €7.7 million

Zurich-based Sonect has snapped up €7.7 million in Series A funding, which will go towards expansion into new markets, growing its team and strengthening its technology.  Sonect’s mission is to make cash withdrawals available everywhere, and for everyone. Have you ever been wandering around a city looking for a cash point, to no avail? Sonect aims to fix that.



United Ventures Closes Second Venture Capital Fund, at €120M

United Ventures, a Milan, Italy-based venture capital firm, closed its second fund, at €120M. The new fund, UV2, was supported by existing and new limited partners, will continue to follow the firm’s strategy to invest in disruptive startups in the software and digital technology sectors.



BlackFin Capital raises close to €1bn for third buyout fund

…The fund, which closed at €985m, has exceeded BlackFin’s initial target of €750m and is more than double the size of its second fund, which raised €410m in 2016….The firm focuses on investing in asset-light financial services companies in Europe, including payment providers, asset managers, service and technology providers. The new fund will invest between €20m and €100m in businesses.