FinTech Europe | 2022 #48
Weekly news up to Tuesday, November 29nd, 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?
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REPORT
Germany, although one step behind the UK in terms of open banking readiness, has long been a leader in interoperability and connectivity, with the Klarna-powered payment method SOFORT implementing domestic bank connections since 2005.
👉 Read the full Klarna Kosma report here.
👀 NEWS HIGHLIGHT
Klarna Kosma, Klarna's financial technology platform for banks, fintechs and innovative retailers announced a partnership with Moss, the fast-growing European fintech digitising expense management for small and medium-sized businesses.
👉 Read the full Finextra article here.
😎 SPONSORED CONTENT
The Integrated solutions for startups and SMEs, with More than 45k Merchants, achieving more then 1 million transaction per day worth of $11million
📰 ARTICLE
Revolut CEO at Slush: Tech scene facing ‘hangover’
“We’re back into this swinging mood,” says Nik Storonsky, who expects it will take two or three years for the industry to recover.
“Now everyone is into efficient capital allocation. As a result, a lot of start-ups will go out of business or be forced to raise at a much lower valuation.”
Mr. Storonsky believes the venture capital (VC) industry needs to reinvent itself and move away from the “crowd - mentality”.
👉 Read the full fDi Intelligence article here.
👨💻 BLOG
If you really want to build a business that takes on the powerhouses of the payments then the US has to be on your roadmap right now! Here’s why:
“If you have the right go-to-market strategy, a team with fierce ambition and the support of global partners then it has never been a better time to run into the eye of the storm and expand into the US.” - Brad Goodall
After eight years in London, Banked :'s CEO upped sticks and moved to the Bay Area — he explains why he has no regrets.
👉 Read his full blog post on Sifted here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ BlockFi files for bankruptcy as FTX contagion spreads. BlockFi received a $400 million line of credit from FTX earlier this year. Link here.
⭐️ Zilch poised to axe 10 per cent of workforce. Link here.
⭐️FINOM celebrates Dutch market entry, partners up with VISA. Link here.
PAYMENTS
Poland's competition watchdog has initiated proceedings against PayPal over the use of possibly prohibited contractual provisions. Link here.
Nuvei announced that it has partnered with Virgin Atlantic to enable a better payment experience for its customers. Link here.
BNPL
Klarna has launched a platform aimed at connecting influencers and creators with retail brands. Link here.
OPEN BANKING
Tink announced the launch of Balance Check, a key feature enabling Tink customers to verify account balances. Link here.
Equals Group acquires open banking platform Roqqett for a total consideration of up to £2.25 million. Link here.
CRYPTO
Ledger and Baanx announced the launch of the Crypto Life “CL” Card powered by Ledger in Europe, following its launch in the UK with Mastercard. Link here.
Bitpanda secured a licence to offer trading and crypto custody in Germany, becoming the first local European retail investment platform to do so. Link here.
MOVERS & SHAKERS
Pleo hired Meri Williams, the former chief technology officer at Monzo, to lead its tech strategy going forward. 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.