Newsletter: 5th March. 2018

Billomat receives seven-digit investment

The accounting start-up Billomat from Nuremberg receives a capital injection from  Online News Business (ONB). The company intends to use the money to expand into Scandinavia and Spain, among others.

BNP Paribas launches fintech investment fund

BNP Paribas has launched a new investment fund to take direct minority stakes in innovative startups that are reinventing financial services and insurance.

The new fund, managed by BNP Paribas Capital Partners, will also make indirect investments through Venture Capital funds whose priorities in technologies – such as AI, data, blockchain, cyber-security – geographies and topics match those of its various business units and divisions.

VCXO Rapidfire with Frank Seehaus, Acton Capital Partners

1. Tell us a bit about yourself and your focus area(s) within FinTech?

My name is Frank Seehaus and I’m Managing Partner at Acton Capital, a European late-stage venture capital firm. We back internet-startups with the potential to become market leaders…Within fintech, my focus areas are lending (Iwoca – SME lending, Finanzcheck – Consumer lending marketplace), SaaS (Mambu – Core banking SaaS), and Insurtech (Getsafe).

Stockholm-based Anyfin secures €4.8 million to save consumers money on existing loans in seconds

Anyfin, a Stockholm-based fintech startup that enables consumers to refinance their existing loans with a picture, just closed a €4.8 million Series A funding round led by Accel and Northzone. Global Founders Capital and angel investors, including consumer finance executives and international fintech entrepreneurs, also participated in the round.

Money2020 Europe 2018: agenda shaping up fast!

With all these speakers in the #M2020Eu Big Top, plus over 200 still to be announced, this is one show you can’t afford to miss. Save €1,000 before midnight & an extra €200 with 18FIFO

Danish Fintech Inpay Announces Acquisition of Eurogiro

Global payments platform Inpay announced it has acquired postal payment network Eurogiro. The company reported that it will continue to bring innovation and growth opportunities to Eurogiro members.

Founded in 2008, Inpay describes itself as a regulated and licensed Danish FinTech company with 50 employees, specializing in the provision of white label cross-border payment services.

Electronic trading platforms want to rival banks in placing bonds

According to information service Bloomberg, the placement of bonds has risen $ 14 billion in revenue for the eight largest banks in the business in the first three quarters of last year…Unlike these traditional issues, new digital platforms seek to initiate transactions directly between issuers and investors through private placement of bonds, promissory notes and loans. For some days now, a still young German company is trying to do that: Credx.

Revolut becomes first UK app-only bank to break even

Financial technology firm Revolut has become the first of a new breed of digital banks in Britain to break even on a monthly basis after a swelling user base and a suite of new products helped it bolster revenues in December. The firm is one of a number of digital banks that have sprung up in Britain in the past few years, offering slick apps, cut-price fees and a “marketplace” where users can shop around for products from a variety of providers.

Quiet death of the Frankfurt fintech Fintura

Fintura has given up earlier this month.  Key Question: Why did Fintura fail? So that startup, which was a “successful operating provider” for the “Börsen-Zeitung” and whose boss once claimed in the “Handelsblatt”, “the classic financial industry is too slow and not innovative enough to keep up with the fintechs”.

VeChain Confirms Partnership with BMW, Rebrands to VeChain Thor

Blockchain-based supply chain enhancement platform VeChain has entered into a partnership with the German car manufacturing giant BMW.

Klarna on a rapid growth course

Klarna Bank AB (publ), one of the world’s leading payment service providers, has published its 2017 accounts . Last year was a record year for the company, with worldwide sales growth of 42 percent year on year. In addition, Klarna is pleased about 26,000 new dealers and 19 million new users. Twelve years after the company was founded, around 89,000 online shops in 14 countries rely on the newly licensed Swedish bank and benefit from the innovative payment solutions.