FinTech Europe | 2023 #6
Discover more from Marcel’s FinTech Europe Newsletter
FinTech Europe | 2023 #6
Weekly news up to Tuesday, 7th of February 2023
WEEKLY FUNDRAISING ACTIVITY
Last week, a total amount of €157.6m was raised across 10 European FinTech deals 👇
👀 NEWS HIGHLIGHT
Denario selects Klarna Kosma’s open banking platform to expand its connectivity beyond Europe.
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
Fintech Meetup is Q1’s BIG new event! Find new leads and partners. Meet everyone you need to meet in 30,000+ double opt-in meetings. Hear from 250+ speakers. See 200+ sponsors & Exhibitors and network with 3,000+ other senior level fintechers. At the Aria, Las Vegas March 19-22. Get ticket!
👨💻 BLOG
Open banking is creating exciting opportunities for fintechs to improve customer experiences and streamline outdated processes in the banking sector.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 👇
📰 ARTICLE
See this FinTech industry information from the Nordics, including funding rounds, partnerships, acquisitions, and new launches by Helsinki Fintech Farm below 👇
💡INSIGHTS
What we can tell about Stripe’s valuation from its top customers and its publicly traded peers?
Jonathan Ching together with Argenys Morban unpack a few key topics to help provide some clarity into Stripe’s recent valuation news and announcements.
🧐 ANALYSIS
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.
🎫 EVENT
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. 💪
That's why we have something special for you!
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.
PAYMENTS
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.
SD Worx is partnering with Wagestream, to help businesses build workplaces that are more inclusive, fair and rewarding for their people.
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.
BNPL
Zilch agreed to fully integrate StepChange into its platform, in order to seamlessly transfer customers in need across to the debt advice charity.
Ingenico and Splitit announced a global strategic partnership to bring one-touch, no-interest, BNPL capability to the physical checkout experience.
OPEN BANKING
Salad Money secured a new senior debt facility of up to £40m with a US-based credit fund.
CRYPTO
The UK government proposed a number of measures aimed at bringing regulation of crypto asset businesses in line with that of traditional financial firms.
INVESTMENT
BUX and BlackRock join forces to launch ETF savings plans in Europe that offer ETF portfolio trades with iShares ETFs.
FRAUD PREVENTION
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.
PayRetailers appoints Lorenzo Pellegrino as new Chief Operating & Digital Officer.
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.
Detected named Mike Ainslie as chief financial officer, effective immediately.
Wombat appointed Richard Charnock to its board of directors as it gears up for expansion into Europe after surpassing 300,000 users in the UK.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.