Newsletter: 25th Feb. 2018

Zuger Startup is collecting $ 25 million in two days 

The Zug startupProxeus has collected $ 25 million from 795 donors in just two days through an initial coin offering. The maximum amount per investor was limited to $ 80,000.
Proxeus offers an extremely easy to use product, empowering anyone to create blockchain applications that are affordable and compatible with current enterprise systems.

Munich fintech startup gets $ 14.5 million

The Fintech -startup Payworks gets 14.5 million dollars from investors. Participants in the round of financing include Commerzbank’s venture capital firm CommerzVentures and the credit card company Visa. In addition, business angels such as the former CEO of the financial company MoneyGram, Pamela Patsley, and the old investors Speedinvest and Finparx.

Payworks offers a technical infrastructure for the processing of mobile payments.

Gabi announces Series A funding of $ 9.5 million

German-based startup Gabi, headquartered in San Francisco, has completed the second round of financing within a year. Lead investor is Canvas Ventures, which has continued to include Correlation Ventures and existing Investors Project A, A Capital and SV Angel.
Founded in 2016 by Hitfox founder and ex-Finleap partner Hanno Fichtner together with Krzysztof Kujawa, PawelOlszewskiand Vincenz Klemm, InsureTech start-up is a digital insurance broker focusing on the US market.

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French Fintech Lydia Secures $16 Million in Latest Funding Round

Lydia, the French mobile payments firm, announced this week it has raised $16 million through its latest funding round, which was led by CNP Assurances with participation from XAnge, New Alpha AM, Oddo BHF and Groupe Duval. Lydia is the leading mobile payment app among French millennials.

Finnish Fintech Zervant Secures €6 Million 

Zervant, a Finnish fintech that provides online invoicing software for small businesses and entrepreneurs in Europe, announced on Tuesday it secured  €6 million through its latest investment fund, which was led by Tesi, with participation from Northzone, NFT Ventures, and Conor Venture Partners.

Blueliv Secures €4M in Series A Funding 

Blueliv, a Barcelona, Spain-based provider of enterprise-class cyberthreat intelligence solutions, raised €4m in Series A funding.
Backers included Vento (Venture Opportunities), and existing investors Telefónica and Kibo Ventures. Luis Navarrete,CIOand Head of ICT Strategy at Agbar Group (Vento), has been appointed to Blueliv’s Board of Directors to provide non-executive support.

Degussa Bank cooperates with Fintech Giro Match

The Frankfurt Fintech company Giro match and Degussa Bank AG work together on new innovations. Giro is expanding its role as a digital service provider for banks.

“Giro Match specializes in digital credit solutions and automated customer on-boarding. We were able to develop on greenfield an optimally coordinated and automated process, an advantage that the banks can mimic almost, “said Giro match-founder and CEO Robin Bushman. “That is why such cooperation is to be regarded as a natural symbiosis of banking and Fintech. We are proud that we have found a strong partner with Degussa Bank, pursues the same objectives as we digital, “said Buschmann.

HASPA will allow customers to choose their preferred consultant 

The Hamburger Kreditinstitut has set itself the goal of being the “most personal multichannel bank in the Hamburg metropolitan region. It will do this with the help of Fintech Baningo from Austria: with a digital consultant finder.
Baningo offers users to choose their own consultant online instead of being assigned to a consultant by the bank, making the banking experience more personal. The user has to answer to start a few questions and then gets a selection of suitable account managers displayed.
The Viennese start-up cooperates with institutes such as Bank Austria, BAWAG or Volksbank Wien in its home market. The cooperation with the industry leader of the German savings banks is now to succeed the step over the Alps.

How high (or low) is the cash-burn of N26 really?

The German fintech N26 has not even needed 20 million euros to build a direct bank with its own IT infrastructure, Bafin license, 150 employees and 300,000 customers.

The firm’s cash burn on individual customers won during 2013-15 was only about 65 euros. Compared to established banks the acquisition of a customer according to data from the industry roughly is between 100 and 300 euros cost, in some cases even more.
Speculations are in 2017 the costs per customer may have risen dramatically. Especially since N26 indeed drives a fairly aggressive international expansion and now has around 350 employees. However, N26 still has a capital base of over € 26 million, a consequence of the € 35 million “Series B” financing round in the middle of the year.

The credit comparison portal Smava, in cooperation withSolarisbank, offers its own installment loan.

The loan portal Smava and theSolarisbank will offer their own installment loan. The “Kredit2Day” can be applied for by customers based in Germany up to an amount of 35,000 euros. The creditworthiness of the customers is checked by Smava, theSolarisbank, which is equipped with a full-bank license, takes the credit into their books.

Bitpesa Acquires Transferzero

BitPesa, a blockchain payments platform for Africa and Europe, acquired TransferZero, an international, online money transfer platform. The amount of the deal was not disclosed.

Raisin, the European savings deposit marketplace launched in UK

Raisin UK, the British arm of leading European deposit marketplace, has opened its doors to UK savers with the launch of its new savings marketplace
Founded in 2013, Raisin set out to crack open the savings deposit market in Europe by taking advantage of EU-wide banking regulation. The problem the startup solves is that saving deposit rates differ not only from one local bank offer to another but even more strikingly across Europe as a whole.

Fintech lenderLendix launches in Germany and the Netherlands

French marketplace lending platform Lendix will be fully operational in five countries by the end of the year. The platform has today announced its entry into Germany and the Netherlands. Headquartered in France, Lendix had already branched out into Spain and Italy.

Are Fintechs cuddling up to the banks ?

Once, FinTechs wanted to compete with established banks. In the meantime, they are now soliciting their favor. This is demonstrated not only by the acquisition of Lendico by ING Diba. Is the banking revolution cancelled?