FinTech Europe | 2023 #2

Weekly news up to Tuesday, 10th of January 2023

Marcel van Oost

Jan 10, 2023

REPORT

For the Green Finance sector, 2022 brought a significant increase in the amount of sustainable financing, as investors and financial institutions became more aware of the importance of addressing climate change and supporting sustainable development.

👉 Check the full WhiteSight report here

👀 NEWS HIGHLIGHT

A provider of high-cost credit to hundreds of thousands of Britons is on the brink of collapse following a crackdown on the industry by the City regulator.

Indigo Michael, the parent company of loan providers SafetyNet Credit and Tappily, filed a notice of intention to appoint administrators shortly before Christmas.

👉 Read the full Sky news article by Mark Kleinman here

👨‍💻 BLOG

If you need to:
🟣Reduce development costs by outsourcing your Payment Initiation Services (PIS)
🟣Expand your customer reach by accessing a network of European banks
🟣Optimize your customer service
🟣Break down barriers of entry, fast

👉 See this Klarna Kosma blog post here

📊 INFOGRAPHIC

European FinTech seed deal activity reached 119 deals in total for Q4 2022, a 31% drop from Q3 2022 levels. A continued drop in FinTech seed deals is likely to happen in 2023 as the Euro area increases its interest rates to 2.5% in December 2022.

👉 Check the full information by FinTech Global here

📰 ARTICLE

The latest FinTech news from the Nordics in Helsinki Fintech Farm’s latest “Nordic FinTech Snippets – December 2022.

👉 Check the full news overview article by Nordic FinTech Snippets here

💬 INTERVIEW

Pablo Viguera and Uri Tintoré, co-founders and co-CEOs of Belvo reflect on their main learnings since founding Belvo in 2019. They talk about the open finance landscape in Latin America and their expectations for 2023.

👉 Read this Belvo interview here

🧐 ANALYSIS

In Q4 2022, a total of €1.788Bn was raised across 111 European FinTech funding deals.

👉 See the full info by BlackFin Tech here

NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS

🌎 FINTECH HIGHLIGHTS

⭐️ Twenty7tec acquired mortgage affordability platform Broker Sense for an undisclosed sum. Link here

⭐️ Scottish FinTech firms received more than £305m in funding, representing an increase of over 200% on the previous year. Link here

⭐️ Prograd raised £2m in seed investment to accelerate its mission to help young people understand finance. Link here

⭐️ TipRanks is acquiring financial news site The Fly for a sum estimated at $15 million. Link here

PAYMENTS

Enfuce and Epassi partnered with Welcome.Place and Visa to launch prepaid cards for refugees arriving in France. Link here

Bondsmith became a principal member of Visa. Link here

Adyen partnered with Autocanteen, the touchless self-checkout solution which improves checkout efficiency for the hospitality industry. Link here

Relio secures CHF 3 million in financing for the launch of a digital payment account for business customers by TX Ventures. Link here

Nala launches in the EU, and added 19 new Eurozone nations to its list of send markets. Link here

Flutterwave and a consortium of existing Railsr shareholders are vying to buy the British company amid a tough environment for FinTech funding. Link here

BNPL

Humm will “prudently retreat from broader UK expansion”. Link here

DIGITAL BANKING

Qonto revealed its roadmap for the integration of Penta. Link here

CRYPTO

Young Platform secured the license as a digital asset service provider to operate in France from the French Financial Markets Authority. Link here

Israel’s securities watchdog seeks to regulate crypto assets. Link here

Trade Republic´s investors will now receive 2 percent interest on their cash balances, without having to pay or subscribe. Link here

Bank of France governor calls for mandatory licensing for crypto companies. Link here

Cryptiony raises €500k pre-seed funding to expand in the UK. Link here