News

Newsletter: 19 November 2018

Meet the Panelists at the 10th FinTech Forum/ 5th Anniversary Edition

We talked to some of the panelists that are on stage this Thursday, 22nd Nov. 2018, discussing the topic “German FinTech, Outside Backers- Fast Forward 2023” which looks at the trend of non-banks and foreign investors dominating German FinTech investments and – potentially – the future of financial services. Check out our 5 Questions with Kerstin Eichmann, Innogy Innovation Hub; Christian Nagel, Earlybird VC and Andreas Thümmler, ACXIT Capital Partners.

http://www.fintechforum.de/5-questions-with-kerstin-eichmann-innogy-innovation-hub/

http://www.fintechforum.de/7-questions-with-christian-nagel-earlybird/

http://www.fintechforum.de/5-fragen-with-andreas-thummler-acxit-capital-partners/

 

Anti-fraud startup Fraugster scores $14M Series B

Fraugster, the Berlin-based startup that uses artificial intelligence to prevent fraud for online retailers, has raised $14 million in a Series B funding. The round is led by CommerzVentures, the venture capital subsidiary of Commerzbank, alongside early Fraugster investors Earlybird, Speedinvest, Seedcamp and Rancilio Cube.

https://techcrunch.com/2018/11/07/fraugster-b/

 

Billpay founder launches digital trade finance platform Modifi

The team behind the successful payments provider BillPay have created an entirely digital platform through which small- and medium-sized businesses (SMEs) can receive trade finance. MODIFI’s new digital ‘Buyer Finance’ is the first of many steps in reaching the company’s broader mission, according to CEO and co-founder Nelson Holzner.

https://www.finextra.com/pressarticle/76402/billpay-founder-launches-digital-trade-finance-platform-modifi

 

Berlin-based fintech startup Bonify raises funding to provide free credit scores and financial advice

Want to apply for a loan, but you’re unsure about your credit score? The Berlin-based startup Bonify provides free, easy-to-read credit reports. Users can use the startup’s platform or app to check and correct their scores, monitor changes, and receive tips on personal finance and how to optimise their scores….Founded in 2015, Bonify just raised a new funding round led by Santander InnoVentures, with participation from existing investors Mosaic Ventures, Ribbit Capital, and DN Capital.

https://www.eu-startups.com/2018/11/bonify-raises-funding/

 

Wirecard Enables Stuttgart to be the First Official China Pay City in Germany

Wirecard, the global innovation leader in digital financial technology, today announced a partnership with Stuttgart-Marketing GmbH, the official tourism partner of the German state capital of Baden-Württemberg. The collaboration enables the use of the most popular Chinese mobile payment methods in establishments across the city. As a result, Chinese Alipay and WeChat Pay users can now pay with their preferred mobile payment methods in around 50 locations in Stuttgart, including restaurants and bars, museums, retail stores, and transportation services.  

https://markets.businessinsider.com/news/stocks/wirecard-enables-stuttgart-to-be-the-first-official-china-pay-city-in-germany-1027728592

 

SIX FinTech Ventures invests In Vestr and Shift Cryptosecurity

SIX is investing in two early stage startups, Vestr and Shift Cryptosecurity, with an aim to revolutionize the Swiss Financial Centre.

SIX FinTech Venture intends to provide advanced technologies, business models and solutions to the Swiss Financial Center to help meet customer expectations.

https://www.compelo.com/banking/news/six-fintech-vestr/

 

Swiss Fintech Sonect Receives Investments From Loomis & SixThirty

Sonect, a Swiss fintech startup, announced on Monday it recently received investments from cash management specialist Loomis and global fintech venture fund SixThirty. The company also reported it has formed a partnership with Loomis, which will help accelerate Sonect growth with its expertise and large customer base. Meanwhile, Sonect was selected for the SixThirty go-to-market program.

https://www.crowdfundinsider.com/2018/11/141187-swiss-fintech-sonect-receives-investments-from-loomis-sixthirty/

 

Bitfury Raises $80M in Funding

The Bitfury Group, an Amsterdam, The Netherlands-based full-service blockchain technology company, closed an $80m funding round.

The round was led by Korelya Capital, the European growth capital firm backed by Korean digital giant Naver Group, which was joined by global institutional and corporate investors such as Macquarie Capital and Dentsu Japan, European fund managers Jabre, Lian Group, Argenthal and Armat Group, insurance groups Foyer and MACSF, Galaxy Digital, and ITech Capital.

http://www.finsmes.com/2018/11/bitfury-raises-80m-in-funding.html

 

4iQ Raises $18M in Funding

4iQ, a Madrid, Spain-based cyber intelligence company, raised a $18m funding round.

C5 Capital Limited, a venture capital firm focused on investing in cyber security, cloud computing, and artificial intelligence, made the investment. As part of this round, C5 will take a Board Director’s seat in the company.

http://www.finsmes.com/2018/11/4iq-raises-18m-in-funding.html

 

Fintech Company Credimi Raises €10M In Funding

Credimi, a Milan, Italy-based digital factoring platform, raised €10M in funding.

Backers included United Ventures SGR and Vertis SGR, as well as some of the investors who took part in the first round of €8.5m in September 2015.

http://www.finsmes.com/2018/11/fintech-company-credimi-raises-e10m-in-funding.html

 

PriceEdge Acquires AI Startup Rightprice.ai

Price Edge Solutions AB, a Swedish SaaS price management company, is to acquire Rightprice.ai, a Stockholm, Sweden-based artificial intelligence (AI) startup.

The amount of the deal was not disclosed.

The acquisition will enable Price Edge Solutions to boost its AI and machine learning capabilities and provide e-commerce companies with insights and structures to make smart price decisions.

http://www.finsmes.com/2018/11/priceedge-acquires-ai-startup-rightprice-ai.html