70.1% of FinTech funding this week was raised by two companies

Top Story of the Week

Key InsurTech partnerships of 2022 to take note of

As pressures on the insurance and InsurTech sector mount, companies are teaming up to bolster their services and improve their capabilities. According to Insurance News, KMPG reported that insurance carriers are focusing their efforts on building alliances with InsurTechs as they explore emerging technologies.

Read the full story?here.

Research highlight

New FinTech unicorn announcements remain rare with only one recorded in December

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• FinTech unicorns announcements continue to be scarce in December with no change in activity from November. Overall, there are 258 new unicorns across all industries this year and FinTech unicorns represented 32.5% with 84 in total. Although this is a major 55% drop compared to 2021 levels which saw 154 new FinTech unicorns. The share from FinTech companies saw almost no change from 2021 with a slight 0.4 percentage point increase in 2022.
• Younited, which provides Instant Credit for the e-economy, reached unicorn status after their latest Venture funding round which valued the company at $1.1bn. The new funding was obtained from key investors Eurazeo, Crédit Mutuel Arkéa, Goldman Sachs, and Bpifrance. Younited says it will use the money to continue the deployment of its “instant credit” and open banking solutions and to further develop its partnership activities with merchants and financial institutions in all the geographies it operates in.

Read more of our research?here.

Weekly FinTech deal roundup

Two FinTech deals make up lion share of funding this week - A total of $710m was raised across the 25 FinTech funding rounds this week, with just two deals accounting to $498m of this.

Read the full story?here.

RegTech news

• How AML shaped the world in 2022?- Last year saw a seismic shift in the regulatory world. Sentinels has released a report on how AML shaped the world in 2022. It explores the most impactful moments of the year towards AML and what companies had to navigate. Read the full story?here.
• Financial crime prevention spend to exceed $28bn by 2027- Global software spend on financial crime prevention tools will exceed $28.7bn by 2027, up from $22.1bn in 2023, Juniper Research claims. Read the full story?here.
• GDPR fines totalled €2.9bn last year - European data regulators deployed €2.92bn in GDPR fines last year, a year-on-year increase of 168%, according to a survey from DLA Piper.. Read the full story?here.

Don't Miss Out - AML & FinCrime Tech Forum will be hosted on 31st January 2023!

Join us at the 3rd annual AML & FinCrime Tech Forum to learn about the latest frauds and threats in financial services and how financial institutions are partnering with tech companies to combat them. Find out more?here.

InsurTech news

• Liberate kickstarts launch of P&C platform with $7m raise?- Liberate Innovations, software-as-a-service (SaaS) platform that enables P&C insurers to fully automate claims and underwriting journeys, has raised $7m in funding and launched its platform?Read the full story?here.
• insured.io unveils payments processing feature to streamline insurance payments - insured.io, a provider of cloud-based, customer engagement solutions for the insurance industry, has launched a payment processing feature to streamline payments for insurers. Read the full story?here.
• Peppercorn launches on Confused.com with AI insurance assistant - Peppercorn, an AI-driven insurance provider, has launched on Confused.com as it rolls-out the use of its conversational AI insurance assistant. Read the full story?here.

WealthTech news

• Australian FinTech Bloom nets seed to support climate impact investing app - Bloom Impact Investing, an Australian FinTech for investing into climate impact, has reportedly secured $525,000 in its seed round. here.
• yeekatee receives $1.9m in pre-seed financing - yeekatee, an investing social network, has scored $1.9m in a pre-seed funding round backed by a co-founder of WealthTech firm Avaloq. Read the full story?here.
• Wealth management firm FNZ acquires Germany’s Fondsdepot Bank- Global wealth management platform FNZ has acquired Fondsdepot Bank, a German platform for trading and custody. Read the full story?here.

CyberTech news

• 80% of firms have availability gap with their systems - Four out of five organisations have an ‘availability gap’ between how quickly they need their systems to be recoverable and how quickly IT can bring them back. Read the full story?here.
• Cyber risk management dev KYND names new board chairman - KYND, which offers a variety of cyber risk management products and services, has named Dave Moreau as its new chairman of the board. Read the full story?here.
• Turbulent year for crypto as illicit activity reaches new high - Illicit activity in the crypto space reached an all-time high of $20.1bn in 2022, up from $18bn the previous year. Read the full story?here.

Don't Miss Out - Financial Services CyberTech Forum will be hosted on 21st February 2023!

We are excited to announce that the?CyberTech Forum?is returning again for its 4th annual edition as a physical event. Find out more?here.

ESG FinTech new

• What you need to know about ESG data providers - With a growing requirement and expectation on firms to meet environmental, social and governance (ESG) standards, what do you need to know about ESG data providers? Read the full story?here.
• The Payments Association launches ESG project - The Payments Association, an organisation that celebrates innovation and collaboration across payments, has launched Project ESG. Read the full story?here.
• India set to launch first green bond offering valued at $2bn - The Reserve Bank of India plans to raise $2bn in its first-ever green bond offering to support green infrastructure projects in the country. Read the full story?here.

Other FinTech news

• Klarna taps Ingenico to aid payment solution rollout - Klarna has entered into a strategic partnership with payments firm Ingenico to help roll out its flexible payment options at the point-of-sale. Read the full story?here.
• MENA BNPL services provider Tabby closes Series C on $58m - Tabby, a BNPL services company based in the MENA region, has closed its Series C round on $58m, which brings its valuation to $660m. Read the full story?here.
• Tech organisations call on Congress to prioritise blockchain privacy regulation - More than 28 tech organisations that develop open-source projects have called on Congress to protect consumer privacy when regulating the blockchain space. Read the full story?here.?