The early stage European FinTech deals this week include Payflow, Plum, Metaco etc. We are excited to announce a new interview series, Scaling Enterprise FinTech- in Europe & Beyond, in the countdown to Money2020 Europe, 22-24 Sep. 2020 in Amsterdam. Offering insights on nailing sales, go-to-market and fund-raising from the founders, investors and financial institutions behind Europe’s leading B2B FinTech scale-ups, our first interview features Eugene Danilkis, Co-Founder & CEO of Mambu.
We also feature Q&As with Manuel Silva Martínez of Santander InnoVentures and James Varga of DirectID.
Check out the first set of startups and investors who will be on stage at the 12th FinTech Forum, on 19th Nov. 2020 in Frankfurt and register here http://ftf12.eventbrite.com . If you are a startup- or know one- that is building the next big thing in FinTech, apply to present at the event: email contact (at) fintechforum.de or reach out to us via LinkedIn: Frank Schwab or Samarth Shekhar.
8 factors why crypto currencies are here to stay
User numbers and investments in cryptocurrencies and blockchain projects are increasing. In the Swiss Crypto Valley, 800 companies with 4000 employees are working on the digitalization of assets. The regulators are also taking up the issue. In the digital age, cryptocurrencies are the next logical stage in the development of money.
Scaling Enterprise FinTech- with Eugene Danilkis of Mambu
…let’s start with a bit about yourself, both at work as well as at leisure. What’s keeping you busy?
I am originally from Vancouver, Canada. I studied Computer Science and worked as a software engineer in the earlier part of my career. After doing my Masters I got into financial services by exploring technology opportunities that traditional vendors could have in terms of reinventing how financial services are provided, especially in emerging markets. We were doing a lot of research before the whole fintech era came around. It was around 2009 or so when we started to look into the space.
7 Questions with James Varga of DirectID
1. Please tell us a bit about yourself, both at work and leisure.
I founded DirectID in 2011 with a mission to create convenience, offering new products and services for business and consumers alike using the identity and data that we have with our bank accounts to make our lives, in a digital context, easier.
I simply love being involved in a startup, building things, solving problems and if at least in a small way – changing the world. A bit of a startup junkie who loves working with great people, teams and companies and believe that together as an industry we are stronger than individual companies.
7 Questions with Manuel Silva Martínez of Santander InnoVentures
1. Please tell us a bit about yourself, both at work and leisure.
I am Manuel Silva Martínez and run the Investments team at Santander InnoVentures. At work, I have built a team that oozes dynamism and intellectual curiosity. We are a very lean structure where free speech and constructive opinions are the basis for our team dynamics and decision-making as investors. In my spare time, I am an avid traveller (70 countries and counting), long-distance hiker (Camino de Santiago several times, Inca Trail in Peru, Kumano Kodo in Japan…) and love to discover new restaurants and foods in East London, where I live.
Manuel Silva Martinez is among the investors who will be on stage sharing insights and investment trends in European FinTech at the 12th FinTech Forum, 19th Nov. 2020 in Frankfurt: https://ftf12.eventbrite.com
Barcelona-based Payflow raises €1.6 million to provide financial wellbeing and to disrupt payroll
Payflow, the Spanish startup offering financial well-being, has closed its first funding round of €1.6 million in the midst of the COVID-19 crisis, with investment from top-level local and international players, including Rocket Internet, Lanai Partners, Itnig, Abac Nest, Michael Benabou and Clement Benoit. Only three months old, Payflow already has more than 30 companies that trust in its innovative social benefit. With the fresh capital from this round, Payflow intends to improve its product and to expand its team by hiring the best talent.
Dutch scale-up Cevinio, formerly InvoiceBlox, raises €4.5 million to continue global expansion
Cevinio, a Dutch scale-up that’s rebranding from InvoiceBlox, has secured a €4.5 million investment from Endeit Capital and CNBB Venture Partners to fuel global expansion. The Rotterdam-based company plans to use the funds to accelerate both its international growth and the development of its smart invoice management algorithms. With the help of AI, the software automates credit invoicing and eliminates redundant, manual steps. It links incoming invoices to purchase orders, runs invoice compliance checks, and logs invoices in business accounts.
Plum raises $10M for its ‘smart’ money management app
Plum, the London and Athens-based fintech that offers a “smart” money management app to help you improve your “financial resilience,” has raised a further $10 million in funding as it gears up for European expansion. The new round is led by Japan’s Global Brain and the European Bank for Reconstruction and Development, which has participated in previous Plum funding rounds.
Digital Asset Infrastructure Firm Metaco Raises $17 Million Series A
METACO, a provider of digital asset infrastructure for financial institutions, has raised $17 million in a Series A round. In a release, the Switzerland based Fintech said the round was oversubscribed, with demand over double the initial target. Giesecke+Devrient, the German-based security technology company and one of the main central bank infrastructure partners, led the funding round.
Standard Chartered Bank, Zürcher Kantonalbank, and venture capital firm Investiere joined the round which also saw all existing strategic shareholders, Swisscom, SICPA, Avaloq, and Swiss Post increase their commitments.
Fraud detection startup Ravelin secures $20M Series C
Ravelin, the London-based company using machine learning to help companies fight fraud when accepting online payments, has raised $20 million in new funding. The Series C round is led by Draper Esprit, with participation from existing investors Amadeus Capital Partners, BlackFin Tech and Passion Capital. Ravelin disclosed $10 million in Series B funding in September 2018.
British Fintech Moneybox Raises £30 Million Doubling Valuation
Moneybox, a British savings and wealth management platform, has announced that it closed a £30 million ($38 million) Series C funding round earlier this year, participated by both its existing and new investors. The funding round was led by co-led by Eight Roads and new investors CNP, and was also participated by Breega. The startup did not disclose the names of any further investors and now has opened the pre-registration for a crowdfunding campaign on Crowdcube.
Belgium’s Unifiedpost completes €47 million+ capital raise to help ‘digitise the financial value chain’
Brussels-based fintech scale-up Unifiedpost has secured north of €10 million in fresh funding – from mostly existing investors – to spur growth. Rumoured to have been considering an IPO in recent times, the company has also announced a (voluntary) early conversion of a majority of its outstanding convertible bonds, resulting in an overall increase in equity of approximately €47 million euros…The company is backed by the likes of SmartFin Capital, PMV and others.
As SaaS solutions have immense demand during pandemic, this German startup secures big €57.2M funding
German startup Pricefx claims to be a global leader in cloud-native pricing software. Today, this startup has announced that it has secured $65 million (nearly €57.2 million) Series C funding led by Apax Digital, the growth equity team of Apax Partners along with participation from Digital+ Partners, its existing investor. With this investment, the funding raised by Pricefx is now $130 million (nearly €114.4 million).
Scalable Capital raises $58M at a $460M valuation for its robo-investment platform
Scalable Capital — the Munich-based startup that has built a platform to monitor and manage investment portfolios investing in shares, manage trades and exchange traded funds for a flat fee of €2.99 per month — has closed a round of €50 million ($58 million) to expand its business. CEO Erik Podzuweit confirmed to TechCrunch that the Series D was made at a post-money valuation €400 million ($460 million). The investment is coming from a mix of new and existing investors, including BlackRock, HV Holtzbrinck Ventures and Tengelmann Ventures. It brings the total raised by the startup to €116 million ($133 million).
Direct Line Group acquires London-based insurance app Brolly
Brolly, the U.K. digital insurance app, has been acquired by incumbent Direct Line Group. The terms of the acquisition aren’t being disclosed, while the transaction is expected to formally close during the third quarter of 2020…Originally founded by former Aviva underwriter and product manager Phoebe Hugh and former Skype and Microsoft engineering manager Mykhailo Loginov after the pair met at company builder Entrepreneur First, Brolly launched as a personal insurance concierge.
Tink acquires credit decisioning provider Instantor
Swedish open banking platform Tink has acquired Instantor, a provider of credit decisions software used by more than 150 live customers, including banks and fintechs across 13 European markets. Founded in 2010, Instantor provides banks and fintechs across Europe with data to help them improve their credit decisions by verifying an individual’s identity, income and expense, based on account aggregation technology. Headquartered in Stockholm, Instantor supports more than 5 million credit decisions annually and had an annual revenue of €4M in 2019.
We are proud to partner with Money20/20 Europe, taking place on 22nd – 24th Sep. 2020 in Amsterdam.
What’s new for #M2020EU you ask? Well, TWO – THIRDS of speakers are! Check ’em out now: https://bit.ly/38VYGas and join us using discount code MP20FOR https://bit.ly/2Ag9QKv
Meet us at:
Swiss FinTech Fair, Zürich, 8 Sep. 2020 https://www.swissfintechfair.com
EY Startup Academy, Frankfurt, 15 Sep. 2020
Money2020 Europe, Amsterdam, 22-24 Sep. 2020 https://europe.money2020.com
South Summit, Madrid, 6-8 Oct. 2020
FinTech Junction, Tel Aviv, 21-22 Oct. 2020
Digital Insurance Agenda, Amsterdam, 28-29 Oct. 2020 https://next.digitalinsuranceagenda.com/dia-amsterdam-2020/want-to-attend/
MoneyConf / WebSummit, Lisbon, 2-5 Nov. 2020 https://websummit.com/moneyconf
12th FinTech Forum, Frankfurt, 19th Nov. 2020 http://www.fintechforum.de/events/
Meet Our Partners:
Heussen https://www.heussen-law.de | Nagarro https://www.nagarro.com/en | Money2020 Europe https://europe.money2020.com | InsurTech Insights https://insurtechinsights.com | Finovate Europe https://informaconnect.com/finovateeurope/ | FN FinTech 40 https://www.fnlondon.com