Discover more from Marcel’s FinTech Europe Newsletter
FinTech Europe | 2023 #10
Weekly news up to Tuesday, 7th of March 2023
👀 NEWS HIGHLIGHT
Ten months after submitting its banking license application, banking-as-a-service (BaaS) provider Griffin was authorized by the PRA and the FCA to operate with restrictions.
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The number of women that are investing has risen since the pandemic, according to digital wealth manager Nutmeg.
Women currently make up 43 percent of Nutmeg’s 200,000 clients, up from just 33 percent in 2017 and 24 percent in 2013.
While the story of public market FinTech over the last three years has been perplexing, a retrospective analysis reveals a few simple lessons.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ The City regulator is on alert for an emergency restructuring of Railsr. The company may be sold off through an insolvency process as it faces mounting financial and regulatory problems.
⭐️ Stripe cuts valuation to $50 billion after facing fundraising hurdles.
⭐️ Pennylane is set to close a new funding round led by Revolut investor DST Global.
⭐️ PayPugs and Muniy signed an agreement to launch a global Fintech as a Service solution.
⭐️ Revolut reports first full year of profit.
Adyen becomes the first to embed the Click to Pay experience into its online checkout flow in all available markets.
Dogs Trust taps Currensea to launch debit cards and boost donations.
NX Technologies raises €11 million in Series A funding round.
Abound raised £500 million in a mixture of debt and equity finance.
Weavr acquired B2B Open Banking platform Comma Payments.
SurePay announced that UK fintech Allica Bank implemented its UK Confirmation of Payee solution to protect consumers against fraud and misdirected online payments.
Finoa received three license approvals from Germany's financial regulator BaFin, going against the grain of regulatory clampdowns.
Visa and Mastercard are slamming the brakes on plans to forge new partnerships with crypto firms after a string of high-profile collapses shook faith in the industry.
Crypto Exchange Bybit begin the rollout of Mastercard debit cards, enabling users to convert their crypto into fiat at the point of sale and ATMs.
SteadyPay closes $3 million Seed round.
Thought Machine is plotting an expansion of its workforce increasing its global headcount by over 20 percent.
N2F secured €24 million in strategic growth investment to fuel its international growth.
Feedzai joined the Global Anti-Scam Alliance to protect consumers across the world from scams – as a corporate member.
StudentFinance raised €39m in a Series A funding round.
MOVERS & SHAKERS
Zimpler names Stefan Andersson as chief product officer.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.