FinTech Europe | 2023 #3
Discover more from Marcel’s FinTech Europe Newsletter
FinTech Europe | 2023 #3
Weekly news up to Tuesday, 17th of January 2023
REPORT
FinTech startups raised $79B globally in 2022, down 38% from last year, but still, almost double the pre-pandemic level.
👉 Read the full report by Dealroom.co and ABN AMRO Ventures here
👀 NEWS HIGHLIGHT
There is no shortage of BNPL startups in Europe and the UK.
London-based Tranch came out of stealth mode and raised £3.5M for US expansion, Playter picked $55M from backers of Klarna, SoFi and Pipe, Madrid’s RITMO scored over €184 million and more.
👉 Read the full Techfundingnews article by Akansha Dimiri here
😎 SPONSORED CONTENT
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Whatever stage your business is at, whether it’s:
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💡INSIGHTS
During the “holiday season”, a total amount of €64.3m was raised across 8 European FinTech deals ⬇️
👉 Check the full X-mas break fundraising activity here
📊 INFOGRAPHIC
Credit and debit cards still dominate in payments, but next-generation methods are making meaningful progress. Accenture asked survey participants which payment methods they used at least five times monthly.
👉 Read the full The Financial Brand article here
🧐 ANALYSIS
Flagship Advisory Partners estimates Apple’s total FinTech ecosystem flows to grow to $3.2 trillion by 2030. Apple Pay is the largest source of Apple’s FinTech flows.
👉 Check the whole Flagship Advisory Partners analysis by Joel Van Arsdale, Charlotte Al Usta, and Pedro Giestahere here
🎤 PODCAST
In this podcast, Steve McLaughlin, founder and CEO of FT Partners, talks about what to look out for in fintech in 2023 and beyond.
👉 Listen this After the asteroid: What’s next for fintech in 2023? episode here
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Checkout.com is Europe’s most valuable startup at $40bn. Link here
⭐️ Binance is struggling to hold onto assets. Link here
⭐️ US overtakes Germany as Klarna´s largest market by revenue. Link here
⭐️ Klarna Kosma joined forces with iBilly to give its users one-stop overview of their finances. Link here
⭐️ Alibaba seeks to boost sales abroad with BNPL. Link here
PAYMENTS
Enfuce announced a new partnership with Orka Ventures, to launch Orka Card, a new consumer lending card and mobile app. Link here
Divilo and ThetaRay will collaborate to protect Divilo’s growing services against money laundering, sanctions violations, and other financial crimes. Link here
Soldo was added to the UK Government's list of approved payment solutions. Link here
Paddle cut 8% of jobs, and employees were informed through an internal memo. Link here
BR-DGE partners with Visa to offer businesses and consumers more choices in how they manage their money by gaining access to Visa’s open network. Link here
Stripe cut the internal value of its shares by about 11%, implying a valuation of $63 billion. Link here
credi2 and Visa entered strategic cooperation as part of the Visa Fintech Partner Connect program. Link here
Detected secured £2.5m in its financing round fundraise, including investment from Thomson Reuters Ventures, Love Ventures and powerful industry angels. Link here
Worldline announced a strategic partnership with Lidio. Link here
Butter Payments raised a $21.5m Series A funding round. Link here
Plum rolled out a 'Naughty Rule' that sets aside extra money for savings if users splash out on guilty pleasures. Link here
Prommt announced 3 million payment requests sent to customers across many industry sectors in Europe over the Christmas period. Link here
OPEN BANKING
Finshark and Vilja Solutions partnered up to enable Vilja’s expansion with Finshark’s open banking technology. Link here
ClearScore is launching a new B2B business unit to help UK lenders use open banking data to make better lending decisions. Link here
Open Banking celebrates five years as Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander have now come to the end of their implementation. Link here
kompasbank raised EUR 12 million in new funding. Link here
CRYPTO
Nebeus announced the launch of the first Nebeus Card backed by Visa. Link here
Huobi announced its partnership with Solaris to launch a crypto-to-fiat debit card. Link here
Vueling will accept cryptocurrency payments from the second half of 2023 following an agreement with Criptan. Link here
Crypto.com will be further reducing its global workforce by approximately 20%. Link here
Suisse partnered with Tata Consultancy Services to build a next-generation crypto-financial technology platform. Link here
FRAUD PREVENTION
Experian launched CreditLock, a new feature that will enable customers to lock their Experian Credit Report at the touch of a button. Link here
MOVERS & SHAKERS
Freetrade appointed John Baines to its board of directors. Link here
Shieldpay announced the recent appointment of Isabel Pitt as Product Director. Link here
Crowdcube’s co-founder Darren Westlake steps down as CEO. Link here
Trezor appointed Matěj Žák, formerly Chief Product Officer, as its new CEO. Link here
Climate X appointed former Monzo, Amazon and Facebook staffer Andrew Ellam as vice president of technology. Link here