Discover more from Marcel’s FinTech Europe Newsletter
FinTech Europe | 2023 #6
Weekly news up to Tuesday, 7th of February 2023
WEEKLY FUNDRAISING ACTIVITY
👀 NEWS HIGHLIGHT
Klarna Kosma's open banking platform gives Denario access to the world's largest international banking network, which will help the Berlin-based fintech offer its payment platform to American customers in the future.
😎 SPONSORED CONTENT
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Open banking is creating exciting opportunities for fintechs to improve customer experiences and streamline outdated processes in the banking sector. The scale of this opportunity is clear — revenues in the global open banking sector are expected to top $128 billion by 2030, up from $16.1 billion in 2021.
See this “Decoding the jargon: Open banking explained for fintechs” blog post by Klarna Kosma below 👇
See this FinTech industry information from the Nordics, including funding rounds, partnerships, acquisitions, and new launches by Helsinki Fintech Farm below 👇
What we can tell about Stripe’s valuation from its top customers and its publicly traded peers?
European startups raised €462m across 286 seed rounds last month, a healthy figure compared with recent months.
👉 FinTech returns to the top of the list with €93m across 22 rounds, after a couple of months of slipping down the ranks.
It’s been a few months since we launched the FinTech community platform and it’s time to organize our first-ever community meetup!
We believe one of the vital parts of building this community still includes meeting in person. We are human after all. 💪
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ TransUnion announced a strategic investment in Bud to drive innovation and growth in the personal finance market.
⭐️ Following the recent loss of its government grant funding, Tech Nation will cease operations on 31 March.
⭐️ Lyfeguard launched its financial technology solution in the UK to streamline financial management and planning.
⭐️ Iwoca’s CEO is predicting profitability in 2023 as credit losses remain below their expectations.
Christopher Yankson, head of recruitment at Revolut announced that the firm is seeking to hire 1,700 staff.
Mode is shutting down, citing issues with funding and the tough macroeconomic climate.
Klarpay expands its global payment capabilities with 13 new dedicated currency accounts.
Thrive Capital committed $1 billion in fresh capital to payments giant Stripe as part of a new investment in the works that would value the company at between $55 billion and $60 billion.
TrustPay announces the extension of its license to include a Payment Initiation Service Provider license.
Pax2pay scores UK EMI license to accelerate its expansion plans in the UK, as well as broaden its product offering.
Checkout.com announced changes to its leadership team as it prepares its strategy to bolster US expansion and take on Stripe.
Snab raised €1.1 million in pre-Seed funding. YCombinator led the round, with contributions from 4Founders Capital, Glenfarne Group, and business angels from Kantox and Belvo.
Ingenico and Splitit announced a global strategic partnership to bring one-touch, no-interest, BNPL capability to the physical checkout experience.
Salad Money secured a new senior debt facility of up to £40m with a US-based credit fund.
The UK government proposed a number of measures aimed at bringing regulation of crypto asset businesses in line with that of traditional financial firms.
BUX and BlackRock join forces to launch ETF savings plans in Europe that offer ETF portfolio trades with iShares ETFs.
Seon acquired compliance and financial crime specialist firm, Complytron.
MOVERS & SHAKERS
Monneo announced the hire of payments industry veteran and risk expert, Steve Wilson as its new Head of Compliance.
Ezechi Britton co-founder of Neyber was appointed as the first CEO of the new City of London-backed Centre for Finance, Innovation, and Technology.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.