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.
Germany is a significant FinTech market and among the largest worldwide:
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
ComplyAdvantage named Jim Anning as the company’s Chief Data Officer, as part of its commitment to innovation in anti-money laundering / countering financial terrorism services.
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.
It’s not that crazy to lose $100m a month, says Klarna’s Sebastian Siemiatkowski.
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
⭐️ Viber withdrew a trademark application for its “Viber Pay” payments service after being successfully challenged by a UK fintech.
⭐️ Yapily and Zilch partnered to provide millions of people with better access to 0% interest swift repayment credit.
⭐️ Adyen launches 2023 EMEA Accelerator to give social enterprises the chance to win mentorship and €30,000 in prize money.
⭐️ Last week we saw 12 FinTech deals in Europe for a total of €54.8m raised.
⭐️ Railsr was purchased and re-capitalized by D Squared Capital.
⭐️ Tidely announced receiving EUR 3.5 million in seed financing.
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.
Nationwide Building Society selected Accenture and Form3 to transform its digital payments infrastructure through the adoption of a cloud-native platform.
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.
South Korean regulators approved the Apple Pay launch to allow local credit card firms to introduce the Apple Pay service.
MANGOPAY extended its collaboration with PayPal to provide marketplaces with access to PayPal’s global payment methods and capabilities.
AstroPay is launching its new co-branded product, the AstroPay Wolves debit card.
Paysera partnered with Ria Money Transfer, a global leader in the cross-border money transfer industry and business segment of Euronet Worldwide.
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.
ZipZero secures £1m funding through InVance Capital.
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.
Tandem Bank partnered with Snoop, the award-winning money-saving fintech.
Abound raised £500m in debt and equity funding to accelerate its growth, by K3 Ventures, GSR Ventures, and Hambro Perks.
FairMoney acquired PayForce, as the digital lender looks to broaden its financial services proposition to merchants.
Lloyds Banking Group invested £10 million in digital identity company Yoti.
Swan opened its first office in Spain as part of its continued European expansion.
Bank of London CEO calls SVB sale to HSBC a “missed opportunity” for innovation.
Noda partnered with ThetaRay, to surveil Open Banking services.
Saxo announced that as part of its longstanding partnership with Moneyfarm, it provided M&G’s &me investors with access to mutual fund portfolios.
Molo was acquired by ColCap, this investment has been expended into a controlling 80% stake in Molo, which makes the company part of the ColCap group.
SteadyPay scored $3m in a seed funding round backed by N1 FinTech fund.
Finastra launched its ESG Service, a cloud-native SaaS solution that will streamline sustainability-linked lending.
Detected announced its expansion into the US market.
MOVERS & SHAKERS
Provenir announced that Vincent Camara was appointed as Regional Manager in France.