FinTech Europe | 2023 #11
Weekly news up to Tuesday, 14th of February 2023
I decided not to list any SVB news updates in this weekly newsletter
because this would simply be too much.
If you want to stay up to date with the latest SVB, and other FinTech news, please sign up for my daily newsletter here.
Enjoy this week’s other FinTech news!
For this Rising Stars report, they asked the FinTech ecosystem to nominate women that are leading the way for the future of FinTech, across all departments and roles. The report features more than 25 exclusive interviews with Rising Stars in FinTech detailing their inspirations, challenges they confronted, opportunities they seized, and mentors that have guided them along the way.
Many foreign B2C- and B2B- FinTech companies have started operations in Germany, attracted by Germany’s sizeable retail market of 83 M citizens, its 3.5 M small-and-medium-sized enterprises, and its large number of domestic financial institutions, including 1,500+ banks.
👀 NEWS HIGHLIGHT
The newly created role on the Executive Leadership Team reflects the centrality of quality and comprehensive insights into the company’s mission and products.
😎 SPONSORED CONTENT
The Integrated solutions for startups and SMEs, with more than 45k merchants, achieving more than 1 million transactions per day worth $11 million.
Card payments via point-of-sale bounced back in 2022 across the Benelux, experiencing the best performance yet, with year-over-year growth reaching ~20%. Conversely, e- and m-commerce payments in the Benelux slowed noticeably. Local payments such as iDeal dropped below 10% in growth for the first time in its history.
Today many FinTechs are built on the “platform” of card payments, generating revenue from interchange and/or acquirer fee pools. Interchange – and particularly debit interchange – itself was never meant to support multiple large businesses.
During BNPL giant Klarna’s heyday of hyper-growth, the company was losing $100m a month. But CEO Sebastian Siemiatkowski says the burn was justified given the market opportunity, despite media portrayals.
Hamburg’s FinTech scene is lively and diverse. From Big Data to personal finance and payment solutions to simple credit comparison, FinTechs from all sectors are there.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Adyen launches 2023 EMEA Accelerator to give social enterprises the chance to win mentorship and €30,000 in prize money.
Stripe is raising $6 Billion to resolve Taxes & expiring employee shares, delaying Public Listing.
Apexx Global raised $25m from existing and new investors, closing its Series B round.
BLIK company is launching in Romania, the second largest market in Central and Eastern Europe.
Papaya Global announced the launch of its latest offering, Papaya Global Payroll Payments.
Numeral launched in the UK to help fintechs address the EU market by accessing Sepa and fighting IBAN discrimination.
Aria concluded a new €50 million debt fundraising with M&G Investments.
Nuvei strengthened its footprint across the globe by introducing its service in Australia, to avail of various payment solutions offered by Nuvei.
AstroPay is launching its new co-branded product, the AstroPay Wolves debit card.
Carrefour Italia and Nexi partnered to allow citizens to pay postal payment slips and PagoPA notices at the checkouts of more than 190 stores in Italy.
Pismo announced a new capability of its core banking and payments platform: digital lending, which is part of Pismo's cloud-native and API-based platform.
Abound raised £500m in debt and equity funding to accelerate its growth, by K3 Ventures, GSR Ventures, and Hambro Perks.
Swan opened its first office in Spain as part of its continued European expansion.