REPORT
With three deals in the UK, two deals in Denmark, one deal in Spain, Sweden, France, The Netherlands, and Lithuania.
👀 NEWS HIGHLIGHT
Airbnb and Klarna have joined forces to launch Pay Over Time with Klarna, a new way for guests in Ireland to spread the cost of their reservation.
📰 ARTICLE
In today's rapidly evolving technological landscape, the convergence of innovation and finance has opened the door to a new era of possibilities. Advancements such as open banking, real-time payments, and embedded finance have emerged as driving forces, propelling BigTech companies - including Apple, Google, Meta, Microsoft, Samsung, Tencent, Alibaba - beyond their core offerings.
💡INSIGHTS
► In 2022, 18.1% of U.S. shoppers used Apple Pay; projections indicate that by 2026, 23.3% of Americans will use Apple Pay.
► In 2020, there were 507 million Apple Pay users globally; estimates indicate just over 700 million users in 2022.
Payments M&A has grown to represent over 50% of overall FinTech M&A activity, increasing from 17% in Q3 2021 to 59% in Q3 2023. Key drivers are technological advancements, big tech players entering the market and a highly fragmented payment market.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Mondu registers with FCA and goes live in UK.
⭐️ GoHenry urges the UK government to make financial education mandatory in schools.
⭐️ Revolut adds European listed stocks to its trading platform across the EEA.
⭐️ Seedrs licenced under new EU authorisation to boost sector for startups and investors.
PAYMENTS
BNP Paribas, in collaboration with Startup Studio 321, has launched a standalon fintech for orchestrating marketplace payments.
The Banco de Portugal is introducing a new payment feature that will revolutionize transfers in the country.
Accelerated Payments has announced a strategic partnership with UK funding expert Funding Friends to facilitate the accessibility of bespoke working capital solutions for UK SMEs and mid to large corporate businesses.
Revolut announced the launch of Revolut Reader, a pocket-sized card reader designed to let merchants accept payments in person and on the go.
Hokodo are announcing a first-of-its-kind partnership that will redefine the global payment terms landscape and create new opportunities for B2B buyers and sellers.
Freemarket has been granted a Payment Institution licence from the Central Bank of Ireland, unlocking the company’s next stage of expansion across Europe.
BNPL
B2B BNPL Mondu starts working with first UK clients after FCA registration.
OPEN BANKING
Stripe merchants across the UK and Europe can now use open banking payment options for their customers through TrueLayer.
CRYPTO
Coinbase picks Ireland as its main EU regulatory hub as U.S. authorities go on the offensive.
INVESTMENT
Uncapped scores £200 million debt facility from Fortress Investm, ent group.
Coop launches Coop Finance+ via additiv’s embedded finance platform.
DONE DEAL
Globacap, a technology firm working to digitise and automate the world’s $12 trillion private capital markets, has raised $21 million in Series B funding.
Cloover secures €7M to expand ‘Netflix of renewable energy’ service.
Ctrl Alt raises £2.2m to democratise access to alternative assets. The fintech is hoping to lower the barrier to entry for investing in alternatives and help financial institutions offer more competitive investment options
MOVERS & SHAKERS
Thredd appointed Jim McCarthy to succeed Kevin Schultz as CEO, effective immediately, as Schultz will retire later this year.
ClearScore has appointed Brian Cole as its new group chief financial officer (CFO).
Moonfare has promoted Lorenz Jüngling to co-CEO alongside founder, chairman and current CEO Steffen Pauls.
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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