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FinTech Europe | 2023 #26
Weekly news up to Tuesday, 27th of June 2023
For the past week’s funding news overview, we recommend reading our weekly #DoneDeal newsletter 👇
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Last week we saw 15 FinTech deals in Europe for a total of 96m€ raised:
4 deals in the UK, 3 in France, 2 in Romania, and 1 in Spain, Sweden, Italy, Ireland, Belgium, and Switzerland.
👀 NEWS HIGHLIGHT
Digital payment processor worth $5.5 billion eyes growing population in Mideast with disposable income its young people like to spend online
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Banking-as-a-service (“BaaS”) platforms enable non-bank businesses to offer financial products to their clients. Their capabilities typically include accounts, payments, cards or lending.
The chief executive and co-founder of Swedish fintech juggernaut Klarna, Sebastian Siemiatkowski, once said it’s not that crazy to lose $100 million a month while building a business.
From high-yield savings accounts and credit cards to installment loans and contactless payments, tech giant Apple is growing its footprint in financial services.
Millions of people in the UK already use at least one of the challenger banks. If your current account already offers similarly-priced transfers, what's the incentive to switch?
We all know Peter Ramsey for his famous UX case studies and the time has come to put Wise under the microscope.
An analysis shows that Zalando Payments generated EUR 268 million (in German only) in revenue and EUR 5 million in profit in 2021. BNPL and invoice payment were likely the focus of efforts in the past years.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
Modulr launches in Spain and France, unlocking opportunities for businesses with embedded payments.
Unlimit and PayWings join forces to empower next-gen digital payments.
Bankable has acquired of Arex Markets, giving the combined company the ability to embed credit and working capital into the payment flows of established neobanks, multinational brands and fintech platforms.
Citi Treasury and Trade Solutions (TTS) has partnered up with Pismo to help strengthen its corporate demand deposit accounts (DDA) globally.
Associazione Bancaria Italiana (ABI) has brought together a group of banks in a pilot program for a central bank digital currency (CBDC).
CaixaBank has partnered with EPC-approved European Clearing & Settlement Mechanism (CSM) Iberpay to introduce the SEPA Request-to-Pay (SRTP) service in Europe.
Crypto.com has been granted virtual asset service provider (Vasp) registration by the Bank of Spain. The move will allow the firm to offer crypto trading and payment services in Spain.
Froda has partnered with Lunar and Visa to launch its card-based embedded lending solution for small businesses in Denmark.
Amazon partners with YouLend for a flexible financing programme. The new programme allows merchants to grow their businesses and expand their operations, secure new equipment or ramp up their marketing efforts.
Lloyds Banking Group has invested £2m seed funding in a London-based B2B fintech which uses cloud-based tech to automate businesses’ finance processes.