FinTech Europe | 2022 #47
Weekly news up to Tuesday, November 22nd, 2022
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
👀 Are you interested in funding news from the FinTech space?
💡 Read all about it in my weekly overview article and get the latest funding news from the global FinTech space in your inbox every week.
REPORT
After 10 years of entrepreneurial growth, the European FinTech ecosystem is transitioning to a new normal in terms of funding, valuation and ecosystem players driven by the following factors:
● New FinTechs founded has plateaued since 2018 and dropped 80% since 2021;
● European FinTech Demand funding on a path to decline 50% due to less mega rounds and the end of the payments, lending and crypto funding boom, with new high growth sub-sectors still nascent;
👉 Download the full #fintechreport by Finch Capital here.
👀 NEWS HIGHLIGHT
Klarna Kosma opens up FinTech platform to accelerate Open Banking use cases.
Klarna says it will enable a select number of startups and established companies to access all the products on its Open Banking platform and access 15,000 banks for three months, free of charge.
The initiative aims to accelerate the development of Open Banking use cases.
👉 Read the full RTIH article here.
😎 SPONSORED CONTENT
Fintech Meetup delivers unbelievable results! It’s not too early to plan for 2023 (it’s only 49 days away!). Attend Fintech Meetup (Q1’s big new fintech event) on March 19-22 in Las Vegas and get everything you need to power your year. Connect, network, and learn at the Q1 event you can’t afford to miss! At the Aria, Las Vegas March 19-22. Get your ticket!
💬 INTERVIEW
Executive Interview Series: Open Banking Payments with Wilko Klaassen, VP Business Development, Klarna Kosma.
Klarna’s newly created open banking business unit, to learn more about Kosma’s perspective on developments in open banking and how Kosma is addressing the challenges in open banking payments and data services.
👉 Read the full Flagship Advisory Partner article here.
💡INSIGHTS
Check out the 🇱🇹Latvian Fintech landscape review Autumn'22 by Venture Faculty 👇
👉 Read the full Venture Faculty report here.
🎤 PODCAST
The world of Fintech is one of the most challenging, thrilling and dynamic environments there is. One might also think that it is a highly-competitive place, where winner-takes-all.
Derren Powell, Vice president of Business Development for Fintechs at Mastercard thinks otherwise.
👉 Listen to the full The Finterview - Fintech Exposed episode 1 here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Juni announced it is laying off a further 30% of its team in a second round of layoffs, two months after it let go of 10% of its workforce. Link here.
⭐️ Plum ranked no.1 among fintechs and no.5 overall in the 2022 Deloitte UK Technology Fast 50, a ranking of the 50 fastest-growing technology companies in the UK. Link here.
⭐️ Dreams AB announces the establishment of a new entity, Dreams Technology, reflecting the company’s ongoing expansion into the B2B space. Link here.
⭐️ Airbank has changed its name to Friday Finance. Link here.
⭐️ The FinTech Unbundling of SME Finance. Link here.
⭐️Codat, Capsule and Aviva team up to enhance business cover. Link here.
PAYMENTS
Worldline and Neonomics have signed a commercial partnership to strengthen their open banking offerings across Europe. Link here.
Ireland is emerging as a global hub for payments. Link here.
Devengo raised a €1.2 million Seed financing round. Link here.
Cobee raises $41M for an employee benefits ‘superapp’. Link here.
Tink makes raft of new payments hires, expands UK office by 500%. Link here.
OPEN BANKING
Coinbase tapped open banking technology from TrueLayer to deliver real-time instant deposits to UK users. Link here.
Griffin launches its sandbox to break down barriers for startups and FinTech developers. Link here.
CRYPTO
Coinbase tapped open banking technology from TrueLayer to deliver real-time instant deposits to UK users. Link here.
Scalable Capital launches bitcoin and ethereum crypto ETPs. Link here.
INVESTMENT
Ctrl Alt, a new fintech startup offering a marketplace for tokenised alternative investments, has launched to retail investors. Link here.
Berg Money and iwoca to fuel small business growth with expansion of business loans. Link here.
FINANCIAL LITERACY
11Onze signed up 52 schools in Catalonia to its initiative aiming to improve financial literacy. Link here.
FINTECH MAPS
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.