Discover more from Marcel’s FinTech Europe Newsletter
FinTech Europe | 2023 #9
Weekly news up to Tuesday, 28th of February 2023
Last week, a total amount of €42.7m was raised across 9 European FinTech deals 👇
F-Prime Capital released its annual State of Fintech Report, and you have to check it out 👇
👀 NEWS HIGHLIGHT
Stripe made waves in the world of mobile commerce last year when it became Apple’s first payment partner for “Tap to Pay,” the iPhone giant’s move to turn any iOS device into a payment-making or payment-taking terminal.
Now, Stripe is expanding that business by a factor of googol. Businesses that use Stripe Terminal to take in-person payments now will be able to carry out Tap to Pay transactions on NFC-equipped Android devices, too.
😎 SPONSORED CONTENT
At Klarna Kosma, we want to make accessing open banking solutions as smoooth as possible for our potential partners. So, we’ve brought everything you need to start plugging into the power of open banking together in one place.
Whatever stage your business is at, whether it’s:
🟣 Still exploring the possibilities
🟣 Wanting to play around with our products (for free)
🟣 Looking for more support or guidance from our open banking experts
🟣 Fully ready to start developing and testing our API
It’s all here for you 👉
Last week, a report from Reuters suggested the market has seen the best week for IPOs in 15 months. One of fintech’s biggest global names Stripe has been rumoured to be looking at a public listing for years but a renewed push for an IPO timetable over the next 12 months.
Some of the UK’s fintech giants appear to be paying notice too. Monzo, which only two years ago had its second instance of its auditor EY stating a ‘material uncertainty” warning in its annual report, in reference to the bank’s ability to operate as a ‘going concern, is reportedly one.
👉 Read the full AltiFi article By Daniel Lanyon here
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Klarna will begin penalising customers for late payments in the UK next month in a bid to curb loan defaults.
⭐️ FTX co-founder Sam Bankman-Fried was hit with four new criminal charges in a superseding indictment in New York federal court.
⭐️ Robin AI has raised a $10.5m Series A led by Plural, the VC fund launched by Wise’s Taavet Hinrikus and Songkick’s Ian Hogarth.
FinTech Meetup in Vegas is just around the corner and I will start and close it with a bang. Join me and let's do this together!
Mastercard and Visa are set to face another multibillion-pound UK lawsuit over Multilateral Interchange Fees.
Finmap raised $1.2 million from European and Ukrainian investors.
Squared Financial will expand on the ground with a particular focus on Sub-Saharan Africa.
Zipzero raised £1 million in seed funding, from a diverse pool of angel investors, including Global Processing Services’ Craig Dewar.
Carmoola raised £103.5m in a mix of debt and equity to “revolutionize” the way people pay for cars in the UK.
The global revenue from embedded payments for embedded finance vendors will reach $59 billion in 2027, from $32 billion in 2023; representing growth of 84%.
Klarna posted its biggest annual loss to date in 2022, but claims it’s made “clear progress” to return to profitability.
Belvo launched a new solution that aims to improve the user experience offered by merchants and fintechs using Pagos Seguros en Linea.
tell.money contracted to integrate its Gateway solution into the Solaris platform.
Banks are losing ground to Fintechs in Asia’s cross-border payments space.
Barclays Eagle bank intends to allocate a “big chunk” of the £12 million Digital Growth Grant toward the UK’s tech industry.
DirectID has raised €9m, the cash will give Ingka Group, the owner of IKEA, a minority investment in the firm.
BLOCKCHAIN / DEFI
Swarm is launching the world’s first public investment offering using DeFi.
Sprout raised $1m in pre-seed financing, and participants in the round included a selection of family offices and angel investors.
Bridgetown Holdings is weighing a business combination with Hyphen Group.
Bibby Financial Services and Coface joined forces in a new collaboration to help SME’s in Ireland access securely structured funding and protect them against potential lost revenue.
MOVERS & SHAKERS
GoCardless appointed three executives from open banking provider Nordigen, which it acquired last year, to its leadership team.
If you are a fintech startup and have over 100 questions send me an email, maybe I can answer a few.