Apple Hit by First Charges Under New European Tech Law
Weekly news up to Tuesday, 25th of Jun 2024
WEEKLY FUNDRAISING ACTIVITY
👀 NEWS HIGHLIGHT
In line with its mission to achieve ultimate financial inclusivity for all, Payments Solutions Provider, Ecommpay, is pleased to be supporting Project Nemo for the duration of its 12-month campaign to connect disability inclusion experts with FinTech decision makers who want to accelerate their disability inclusion journey.
📰 ARTICLE
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Curve announced a strategic investment by Samsung Next.
⭐️ Apple Hit by First Charges Under New European Tech Law.
⭐️ Revolut seeks valuation of more than $40bn in employee share sale.
⭐️ EY launches first Scottish FinTech lab with space agency tie.
FINTECH
Swan, the FinTech specialized in embedded finance, announces a new office in the Italian FinTech capital: Milan. Swan’s local presence gives Italian companies access to the burgeoning market for embedded finance, projected to be worth $7.2 trillion worldwide by 2030.
Terrapay selects Thredd for virtual card payments. This strategic partnership aims to develop payment solutions within the travel industry, offering seamless, secure, and compliant virtual card services to intermediaries as part of TerraPay’s cross-border money movement network.
AAZZUR, a FinTech Startup in embedded finance and FinTech orchestration, won the startup pitch event at the Mastercard FinTech Forum 2024. The Mastercard FinTech Forum is a distinguished gathering that unites startup founders, leading finTech experts, and influential investors to share ideas and build partnerships.
One-third of trading on Robinhood’s UK app outside market hours, says UK boss. The US FinTech is now over 10 years old and boasts over 20 million customers and has expanded into areas such as credit cards, retirement and other products.
One year after OVpay's nationwide launch in the Netherlands, over 15% of all public transport check-ins are now made using debit or credit cards or mobile wallets.
PAYMENTS
ACI Worldwide and STET: European Instant Cross-Border Transactions Reach New Record High. Instant cross-border payments processed by STET, one of the leading European clearing and settlement systems, (CSM) and ACI Worldwide, a global leader in mission-critical, real-time payments software, have reached a new record high.
Stripe expects to again let employees cash out some of their shares according to John Collison, reiterating that the company is in no rush for an Initial Public Offering. Stripe expects to again let employees cash out some of their shares, the FinTech’s co-founder said, reiterating that the company is in no rush for an initial public offering.
Vipps MobilePay launches P2P payments between Denmark, Norway and Finland. The new service means that Vipps users in Norway and MobilePay customers in Denmark and Finland can ditch Iban numbers for money transfers between the countries.
SumUp and Adyen partner to bring faster payouts to millions of SMEs globally. With this partnership, SumUp builds on its existing near-instant settlements offering for SumUp merchants and scales this benefit to millions of small and micro merchants in Europe and the UK.
Billhop receives FCA approval to be an Authorised Payment Institution in the UK. The authorisation marks an important milestone in Billhop’s growth strategy, reinforcing its role as a key provider of innovative payment services to Enterprise customers across Europe and the UK as they navigate the new, post-Brexit payments landscape.
OPEN BANKING
DNA Payments adds Open Banking for POS terminals. The company offers omnichannel payments, serving thousands of merchants to accept transactions through POS terminal solutions or online via websites, payment links, or payments over the phone.
Tink and Adyen launch "Pay by Bank" in France. Tink and Adyen, announce the launch of Pay by Bank (instant payments) in France. Pay by Bank is now available to Adyen merchants on the French market.
Progress in implementing open finance in Switzerland. Open finance refers to the practice of financial institutions using standardised and secure interfaces to make financial data available to other financial service providers such as FinTechs, insurance companies and banks at the request of clients.
DIGITAL BANKING
Spanish Virtual IBANs are now live at Mangopay. For platforms looking to improve customer experience with cross-border payments that feel local, virtual IBANs present a digital and cost-effective alternative to traditional banking methods.
Danish neobank Lunar has launched a debit card with Scandinavian Airlines (SAS) that allows users to gain and use EuroBonus points. Through the new debit card, both new and existing users of the EuroBonus programme will be able to gain points through everyday purchases on the Lunar app.
DONEDEAL
French wealth management startup Ramify raises €11m. The round was led by 13books Capital with participation from Fidelity International Strategic Ventures and existing investors Newfund, AG2R and a host of angels.
Finbourne taps $70M for tech that turns financial data dust into AI gold. Companies in fields like financial services and insurance live and die by their data specifically, how well they can use it to understand what people and businesses will do next, a process that is becoming increasingly dominated by AI.
Zilch says it has raised $125 million in debt financing from Deutsche Bank in a deal that will help the company triple sales in the next couple of years and move closer toward an IPO.
AccessPay secures £350k in first Praetura VCT investment. The first deal from the Praetura Growth VCT is a £350,000 investment into Manchester-based FinTech AccessPay.
French FinTech company HERO has announced a capital raise of €11.3 million from the American investment fund Valar Ventures and its historic investor SquareOne. This new round of financing will enable HERO to provide the most comprehensive and competitive response to the number 1 concern of small and medium-sized businesses in Europe.
M&As
Danish accounting software FinTech Ageras has entered into an exclusive agreement with Societe Generale to acquire Shine, a provider of banking and accounting software for SMEs.
Dejavoo Expands Global Reach with Acquisition of Israeli FinTech, Z-Credit. The acquisition reflects Dejavoo's continued commitment to growth, expansion, and the delivery of innovative payment solutions to its clients.
Klarna announced the divestment of Klarna Checkout (KCO). The buyer is a consortium of investors led by Kamjar Hajabdolahi, CEO & Founding Partner at BLQ Invest in a $520 Million deal.
MOVERS & SHAKERS
Mangopay announces the appointment of Mark Fleming as Chief Commercial Officer. Mangopay, a leading provider of modular and flexible payment infrastructure for platforms, is pleased to announce the appointment of Mark Fleming as Chief Commercial Officer.