A week of mediocre deals for FinTech, and France was the leader of European InsurTech seeds in 2022

Top Story of the Week

Greenwashing is impacting faith in ESG – can data be the saviour?

Greenwashing is still a widespread problem. As the pressures increase for firms to act sustainably, both through regulation and customer expectations, there is a risk more will look to embellish their green efforts.

Read the full story?here.

Research highlight

France shines as the most active European country for InsurTech seed deals in 2022

Key European InsurTech seed investment stats in 2022:

• French companies announced 11 InsurTech seed deals in 2022, a 24% share of total European InsurTech seed deals.
• Overall, there were 46 European InsurTech seed deals in 2022
• Q4 was the least active quarter in 2022 with only nine seed deals raised by European InsurTech companies

Early stage?European InsurTech?investment saw an eventful year with 46 seed deals raised in total with France accounting for the most at 11 transactions. The UK, Germany and Spain were the joint second most active InsurTech seed countries with six deals each. The InsurTech sector accounted for 6.9% of all European FinTech seed deals in 2022. Q4 was the least active quarter in 2022 raising only nine deals, a 31% drop from Q1 levels. The average European InsurTech deal size was $3.5m in 2022 which is lower compared to other active FinTech subsectors such as PayTech ($6.5m).

Neat, an embedded insurance solution, was the largest European InsurTech seed deal in 2022, raising $9.9m in their seed round, led by Octopus Ventures. The fresh capital will be used by the company in its international expansion efforts as well as tripling the headcount as it seeks to hire more than 40 individuals within the next 10 months. Neat has already attracted over 100 customers including Floa Bank, Casino, Maeva, Ecox and grew more than 350% in the number of transactions during October 2022.

Read more of our research?here.

Weekly FinTech deal roundup

A week of mediocre deals for FinTech?- This week saw 22 companies across the industry close medium-sized funding rounds, raising a total of $636m.

Read the full story?here.

RegTech news

• What are the current key risk and compliance trends??- With the financial industry a sector continuously ripe for disruption, the challenges surrounding risk and compliance in the industry are always evolving. Read the full story?here.
• Duct-taped solutions, expensive costs & lack of integration – key pain points in compliance - The FINRA Annual Conference brings together practitioners, peers and regulators to discuss the compliance space. Red Oak Compliance has detailed some of the top pain points those attending the conference had. Read the full story?here.
• What you need to know about NFT money laundering - Non-fungible tokens (NFT) massively came onto the global financial scene last year, with celebrities the world over purchasing a stake in the growing trend. Read the full story?here.

InsurTech news

• Global InsurTech Roadzen to go public in $965m deal?- Global InsurTech Roadzen has outlined its plans to go public in the US in a blank-check vehicle in a deal valued $965m. Read the full story?here.
• Arsht-Rock, SEWA and Blue Marble to launch parametric product to protect women workers in India - Adrienne Arsht-Rockefeller Foundation Resilience Center (Arsht-Rock) has partnered with the Self Employed Women’s Association (SEWA) and Blue Marble to provide a parametric insurance product to protect women workers in the informal sector. Read the full story?here.
• Indian InsurTech InsuranceDekho scores $150m in biggest round of its type - InsuranceDekho, an InsurTech which has positioned itself as a leader in the Indian market, has raised $150m in Series A funding. Read the full story?here.

Don't Miss Out - Global InsurTech Summit will be hosted on 18th April 2023!

The 5th Annual Global InsurTech Summit will host hundreds of vetted senior decision-makers alongside the most disruptive InsurTech founders and tech innovators in Europe. Find out more?here.

WealthTech news

• NatWest set to acquire majority stake in FinTech Cushon - NatWest has entered into an agreement to acquire a majority stake in Cushon, a workplace savings and pensions FinTech. Read the full story?here.
• Juniper Square snares $133m in growth capital - Juniper Square, a provider of partnership enablement for the private funds sector, has scored $133m in growth capital. Read the full story?here.
• WealthTech firm Aiviq signs multi-year deal with AllianceBernstein - Aiviq, a cloud-based SaaS business for the global asset management industry, will provide AllianceBernstein (AB) with client assets under management (AUM) and flow data management products and services, through a new deal. Read the full story?here.

Don't Miss Out - Global WealthTech Summit USA will be hosted on 21st March 2023!

Based on high demand from our network of senior investment and banking leaders in the US we are bringing the leading WealthTech event to New York! Find out more?here.

CyberTech news

• Lombard Odier selects KYND for portfolio risk management - KYND, a provider of next-generation cyber risk management technology and services, has been selected by Lombard Odier Investment Managers for its portfolio risk management solution. Read the full story?here.
• CyberTech Descope pulls in $53m in seed funding round - Descope, a developer-first authentication and user management platform startup, has raised $53m in a seed funding raise. Read the full story?here.
• Zscaler set to acquire CyberTech Canonic Security - Zscaler, a cloud security vendor, has announced plans to acquire early-stage startup Canonic Security to expand its services into supply chain security. 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 news

• Governor Ron DeSantis bans ESG in Florida investments - Governor of Florida Ron DeSantis has barred fund managers for state and local entities in the state from considering ESG factors in investment decisions. Read the full story?here.
• Arizona to end investigations into ESG investing practices - Arizona will no longer investigate banks and other financial institutions over ESG investing practices, according to the state’s new Attorney General Kris Mayes. Read the full story?here.
• Chaucer partners with Kita to launch insurance for carbon markets - Chaucer, a global specialty (re)insurance group, has partnered with carbon credit insurance specialist Kita to bring the first of its kind insurance product to the carbon markets. Read the full story?here.

Other FinTech news

• Valentine’s Day Special: FinTechs tying the knot in 2023?- In a Valentine’s Day Special, FinTech Global takes a look at some of the partnerships in FinTech that have begun their (hopefully) fruitful and long-lasting relationships in the new year. Read the full story?here.
• Francisco Partners acquires SaaS analytics platform Sumo Logic - Francisco Partners, a global investment firm, has acquired SaaS analytics platform Sumo Logic in a deal that values the business at $1.7bn. Read the full story?here.
• Visa, Froda and Lunar team to unveil push-payments for SME loans - Three financial firms – Visa, Froda and Lunar – have announced a global partnership and are launching a technology aimed at resolving push-payment problems. Read the full story?here.?