Klearly Secures €6M to Digitise in-person Payments for SMBs
Weekly news up to Tuesday, 21st of January 2025
👀 NEWS HIGHLIGHT
Retail trading platform eToro has made confidential filings to US regulators in a significant step towards an initial public offering in New York this year that could value the business at more than $5bn.
The group, whose largest market is the UK, is the latest to avoid listing in London, which has been struggling to attract and retain high-profile company listings.
📊 INFOGRAPHIC
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🌎 FINTECH HIGHLIGHTS
⭐️ Klearly secures €6M to digitise in-person payments for SMBs.
⭐️ Namirial acquires Digital Technologies.
⭐️ UK’s Buy-Now Pay-Later Market Booms Ahead of Crunch Year.
⭐️ Consumers lack awareness of the costs of BNPL: Lending Standards Board.
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FINTECH
Four FinTechs in Nordics talk 2025 plans and fears. "Throughout 2024, Nordic FinTechs have seen a surge in early-stage funding activity, with seed and Series A rounds drawing increased attention, with former VC backed operators and second time founders heading some of the most hyped cases," said co-founder of Signal.
“We will be a unicorn today”, says CEO of Payhawk, Bulgaria’s first-ever $1bn startup. Hristo Borisov talks about the impact AI will have on Payhawk and the wider spend management industry. He said it marked a “new competitive playground” where Payhawk can challenge in the procurement and accounts payable space.
SoftBank veteran hunts for profits in payments infrastructure plumbing. Akshay Naheta, an executive whose career has been marked by bold wagers on disruption, is making perhaps his most ambitious bet yet: That the world’s payment infrastructure is ripe for reinvention. Read the full piece
PAYMENTS
Yuno integrates with PayPal. This collaboration significantly enhances Yuno's offering, giving merchants seamless access to PayPal’s vast active user network, which now surpasses 400 million worldwide. Yuno-powered merchants can effortlessly offer PayPal’s secure and flexible payment option.
FinTech Klarna’s loan sales suggest it is more Fin than Tech. Klarna is seeking buyers for a pipeline of its future buy-now-pay-later loans is a reminder that for now at least, its underlying business looks more like a financial firm than a tech group.
OPEN BANKING
Square partners with Salt Edge. The partnership is valuable for users of Square Card in the UK. It empowers underserved SMEs in the region to stay on top of their finances and manage them all in one place. By integrating Salt Edge customers can choose to share their data with banks and other regulated third-party providers through secure APIs.
REGTECH
Salv opens applications for Bridge cohort to protect customers from APP fraud and disrupt criminal networks. This exclusive cohort of 30 banks, FinTechs and crypto companies will share intelligence to tackle the growing issue of Authorised Push Payment (APP) fraud.
DIGITAL BANKING
Jamie Dimon wants to take JPMorgan Chase to Germany and beyond. Dimon’s plan is to sweep through Europe’s major economies, capturing enough customers to generate a new profit engine. The company plans to launch Chase in Germany in late 2025 or early 2026.
Countingup hits £10bn customer transactions mark. This achievement underpins the company’s growth, defining its position as a player in the UK’s business banking ecosystem. “This milestone marks a pivotal moment in Countingup’s journey and is a testament to the trust and confidence our customers have placed in us,” said the CEO of Countingup.
CRYPTO
Italy's Intesa 'tests' bitcoin with 1 mln euro investment. Intesa set up a proprietary trading desk and started handling spot trades with cryptocurrencies. "As a wealth management company that has the ambition to become like UBS, we have very sophisticated clients who may ask for this kind of investment," said the CEO.
AMINA Bank supercharges stablecoin offering with free USDC custody. This offering represents a key milestone in the bank's ongoing commitment to driving stablecoin adoption and delivering value to clients worldwide. Also, the bank offers stability and global reach for holders.
PARTNERSHIPS
ClearBank partners with Airwallex. Through the integration, Airwallex customers gain access to Confirmation of Payee (CoP), a bank transfer verification system that confirms the recipient's name matches their account details before payment processing.
Unicaja and Fiserv sign a strategic payments agreement. Both companies will work together to create new tools that enhance the omnichannel processing of all payment methods, optimising development times to offer enhanced customer experience.
StepLadder partners with Swedish FinTech start-up Cirkly to empower community-based savings. This cooperation will leverage StepLadder’s extensive expertise in running Saving Circles, to support Cirkly’s mission of building and growing their community of collective savers and borrowers in Sweden.
Lyca Mobile and Revolut Pay launch first MVNO partnership in the UK. The alliance aims to revolutionise payment experiences for customers by simplifying and enhancing payment processes and gain access to automated subscription and bill payments, real-time payment notifications, and one-click top-ups.
Nuvei partners with Outpayce from Amadeus. This partnership positions Nuvei as a global leader in advancing Outpayce's innovative payment ecosystem. Travel businesses can access Nuvei's expansive suite of payment capabilities, enhancing their ability to process transactions efficiently and securely across geographies.
DONEDEAL
LemFi moves remittances further into Asia and Europe with $53M in new funding. LemFi will use the funding to extend its offerings, scale its payment network licenses and partnerships to provide hyper-localized service, and recruit talent for its next growth phase.
Swiss crypto-focused bank Sygnum hits unicorn status after raising €56.54M strategic round, which increases Sygnum’s balance sheet to support its growth plans. The funds will also support the expansion of institutional infrastructure, the development of a Bitcoin-focused product portfolio, and potential strategic acquisitions.
Zepz welcomes international finance corporation as new investor. IFC’s $20 million investment represents a key step in advancing Zepz’s mission to meet the financial needs of migrants by providing fast, affordable, and secure money transfer services.
Klearly snatches €6 million for in-person payments and to support SMBs across Europe. With this fresh injection of capital, Klearly looks to lead a transformation in the €7.9 trillion European point-of-sale market, reshaping how payments are processed and integrated into merchant operations.
Nomura-backed Komainu raises $75M in Bitcoin. The investment will incorporate Blockstream’s collateral management and tokenization solutions, support the firm’s global expansion and integrate advanced crypto tech. The funding includes the establishment of a Bitcoin treasury to manage the funds.
Hyperline has raised $10M led by Index Ventures. The startup’s client base has expanded by more than 20 times since 2023, from a handful of early adopters to more than 150 small and medium-sized software and technology businesses. The funds will be used to build out commercial function to satisfy international demand.
M&As
Intelligent Lending announces acquisition of TotallyMoney. The acquisition means the group will grow to 250 staff based in Manchester, London, Cyprus, and Italy, with a growing customer base of more than seven million. Continue reading
IPC Systems expands trading tech with Intracom deal. “This acquisition enables IPC to deepen its value proposition, providing communication solutions that extend from traders on the front lines to compliance teams and middle- and back-office operations, all through a secure, scalable SaaS model,” said the CEO of IPC.
Ebury to acquire Lithuanian international payments provider ArcaPay amid strong growth and continued profitability momentum. The acquisition will enable Ebury to expand in the Baltics, help existing clients grow in the region and further strengthen and complement its core capabilities in international payments.
IG Group to acquire Freetrade for £160M. “This is an exciting opportunity to accelerate our growth and delivery of new products and features on our award-winning platform. IG’s vision for Freetrade is closely aligned with our own and its backing will be of huge benefit as we continue to scale the business,” CEO and co-founder of Freetrade said.
MOVERS & SHAKERS
Former Coinbase and OakNorth Execs join FINOM. The company strengthens its executive team with the appointments of Kristjan Kaar as CPO and Elke Karskens as CMO. These hires aim to accelerate the company's growth toward serving one million European SMEs by 2026.
Garanti BBVA Crypto names new CEO. Korcan Abalı will be stepping down as CEO and Onur Güven will replace him. Güven has been a senior manager at a variety of renowned financial technology companies. He has more than 20 years of experience in digital assets, and crypto/blockchain.
Wealth manager GSB hires COO. Hugh Johnson will support the company’s expansion and growth across all GSB operations. He has previously held roles senior roles at the Fry Group and global financial services firm Sanlam. Continue reading
PayRetailers appoints Natalie McGowan as VP of Acquiring & EU Payment Partners. With over two decades of experience in the payments industry, Natalie brings a wealth of expertise in payment networks and international growth strategies. Read more