REPORT
🤑 In the past week, we saw 13 FinTech Deals announced in Europe for a total amount of €117.6m
Four deals in Germany, three deals in France, two deals in the UK, one deal in Switzerland, one deal in Denmark, one deal in Sweden and one deal in Spain.
👀 NEWS HIGHLIGHT
BuildMyCreditScore has launched in the UK. The company provides a Mastercard debit card connected to a user's current account via open banking technology.
📰 ARTICLE
In a pioneering move that echoes the operational philosophy of China's WeChat, Telegram, a widely-used messaging app boasting 800 million active users, is on the brink of metamorphosing into a decentralized super app.
🧐 ANALYSIS
This year’s winners are working on A2A payments, spend management automation, embedded finance, and more.
The dramatic surge in e-money transactions, reaching 7.5 billion in Europe in 2021, underscores a pivotal shift towards digital finance, significantly spurred by the pandemic.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Lydia teams up with Qover to elevate insurance experience for users in Europe.
⭐️ Getsafe has acquired the German portfolio of Luko.
⭐️ TrueLayer reaches landmark one million variable recurring payments per month milestone.
⭐️ TrustPay chooses ibanXS as its Open Banking platform.
PAYMENTS
Tebi announced the first cash register platform to introduce Tap to Pay in the Netherlands.
OPEN BANKING
Bitpanda faced a significant financial downturn in 2022, experiencing an 80% drop in net revenue from 477 million Euros to 90 million Euros, and incurring a substantial loss of approximately 116 million Euros.
DIGITAL BANKING
GenTwo was able to win Swissquote, the leading online bank in Switzerland, for its partner network.
CRYPTO
Wirex has introduced a revolutionary noncustodial crypto debit card service called W-Pay, leveraging zero-knowledge proof (ZK-proof) technology.
Komainu has secured crypto registration from the UK's Financial Conduct Authority.
INVESTMENT
Swan Announces its strategic partnership with Lucca. Swan’s Banking-as-a-Service (BaaS) technology is already allowing Lucca to enhance its expense management offering.
The British Business Bank is launching a £150m investment fund for small businesses in Scotland.
Raisin Bank enters custody business and chooses Upvest as its new investment infrastructure provider.
DONE DEAL
Brite Payments has secured $60m in funding. Brite plans to use the funds to increase on its growth trajectory, increasing the size of its team, both in terms of specific roles like engineers and developers, and also in terms of location.
Vyzer has successfully raised a Seed round of $6.3 million from leading VCs, angel investors, and family offices including iAngels, Guy Gamzu, MonetaVC, Jonathan Kolber and Rafi Gidron.
Getpaid successfully navigates through a new financial milestone, securing six million dollars in a recent funding round.
Debtist is announcing the successful completion of its pre-seed financing round.
Kennek closes oversubscribed $12.5m seed round.
CrossFund has raised its fourth funding round in two years from family offices in MENA and Asia, BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and strategic angels.
M&A’s
Wagestream has acquired challenger credit card startup Keebo. Financial terms of the deal were not disclosed.
Worldline has agreed to buy Banca del Fucino’s merchant acquiring activities and to strike a long-term partnership with the Italian lender.
Kraken to acquire Dutch crypto broker BCM in commitment to grow European business.
ieDigital has acquired US counterpart Connect FSS for an undisclosed fee.
FRAUD PREVENTION
TransUnion has partnered with Tymit to help mitigate fraud risks whilst enabling friction-right experiences for consumers applying for Tymit’s pioneering instalment credit card.
MOVERS & SHAKERS
Clearbank has appointed ex-Zopa chair Peter Herbert as its new ClearBank group chair.
Fourthline is welcoming Aline Villaschi as Chief People Officer.
Mastercard has hired Sir Jeremy Fleming, a former leader of the UK’s cyber intelligence spy agency GCHQ as an adviser.
FINTECH MAPS
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.
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