WEEKLY EUROPE FINTECH NEWSLETTER | 2023
Connecting the dots in FinTech... European News
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WEEKLY FUNDRAISING ACTIVITY
REPORT
Check out Rise - research insights latest report on Fintech and Financial Inclusion in Kazakhstan, published in collaboration with MOST Ventures and FinTech Consult.
The report provides:
?? a comprehensive analysis of the landscape
?? market dynamics and infrastructure overview
?? industry players
?? regulatory analysis
?? fintech startup case studies
?? 9 market trends including growth of digital payments and e-commerce, ecosystems and super apps, Govtech, CBDC, BNPL, neobanking, digitization of SMEs, democratization of capital markets, and more.
REPORT
The bankruptcy of Railsr, a former FinTech unicorn??, is indicative of the forthcoming wave of FinTechs coming to market in 2023 in response to financial challenges.
Flagship Advisory Partners summarized key highlights from Railsr's bankruptcy filing and examine lessons learned??
REPORT
India-UK Financial Partnership released a report on how the UK and India can boost collaboration to accelerate FinTech growth. The report provided recommendations to the regulators of both countries and governments to grow the FinTech sector in both countries.
According to AltFi, over the past 10 years, the UK and India have strengthened their partnership across financial services and FinTech.
REPORT
Türkiye Fintech Guide, prepared by the Presidency of the Republic of Türkiye Finance Office to lift the FinTech sector to the next phase, presents a roadmap about the ecosystem to all interested parties, especially entrepreneurs and investors.
This guide, focusing particularly on the regulated Fintech verticals, provides the essentials of establishing a FinTech company and regulations.
?? NEWS HIGHLIGHT
It is designed to be used both by legacy and neobanks, as well as digital wallet providers, to customise user experience.
?? 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:
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It’s all here for you ??
?? ARTICLE
The Joint Regulation Oversight Committee, a collaboration between the FCA, PSR, HMT, and CMA, published an Open Banking roadmap for the UK. The report outlines the future plans and priorities for a new phase of Open Banking, aiming to create a resilient, sustainable, efficient, and scalable ecosystem.
??INSIGHTS
领英推荐
??INSIGHTS
Every FinTech is in the risk business, whether they want to be or not. That’s because FinTech unit economics have a unique factor: downside risk.
The typical SaaS startup focuses on retention and fights churn to retain the net dollar value of a given cohort. Their absolute downside is zero, i.e., everyone in a cohort stops paying.
A fintech’s absolute downside is not zero, but negative.
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? FINTECH HIGHLIGHTS
?? Credit Agricole and Worldline began exclusive talks to set up a joint venture to provide payment services to businesses and their customers.
?? Square announced the launch of Tap to Pay on Android for sellers across the US, Australia, Ireland, France, Spain, and the UK.
?? P27 withdrawn its clearing licence application from Finansinspektionen, the Swedish Financial Supervisory Authority.
?? GoSimpleTax is set to acquire bookkeeping and accountant platform, Coconut, to create an end-to-end bookkeeping and filing solution for individuals and small businesses
PAYMENTS
Google proposed letting developers offering apps through its U.K. Play mobile app store to have the option to use alternative payment processors for in-app transactions, rather than being locked to its own billing system.
Adyen tech leaders launch Solvimon, a next-generation billing platform that enables companies to implement modern pricing strategies. The platform does this by offering an extensive set of pricing and billing options.
The European Payments Initiative agreed to buy Currence Ideal and Luxembourg-based Payconiq International and will focus on launching a digital wallet and instant payments system in Germany and France by the end of the year.
Finaro announced a new strategic partnership with MultiPay, the payments company for large merchants, to boost in-store and online payment acceptance for merchants throughout the Nordics and UK.
Lune and Visa announce a collaboration, with Lune joining the Visa Fintech Partner Connect Programme to help accelerate meaningful climate action.
Paynt and Softpay announced a strategic partnership to meet the growing demand for contactless payment acceptance solutions.
BNPL
Deko upgrades the BNPL platform, and thanks to it UK retailers will now be able to offer an enhanced finance experience to consumers.
Hokodo announced a Series B extension from Citi, a global leader in financial services.
Klarna came out with a ChatGPT plugin, and in its twice-yearly product update is continuing to expand its personalised shopping tools and AI-powered features to further establish itself as not-just-another-BNPL.
DIGITAL BANKING
Everon gained an asset management licence from the Swiss Financial Market Supervisory Authority and plans to extend its offering with new services both at home and abroad.
Triver raised $8 million in funding. The company raised funding pre-product and wants to automate SME invoicing.
Founders Forum Group acquired Tech Nation, rescuing the quango from oblivion after a decade of championing UK startups.
Barclays’ Eagle Labs has been chosen by the UK government to enable growth within the UK tech sector through a ￡12m digital growth grant.?
Fintech Farm closed its Series B funding round on $22m. Growth investor Nordstar Fund led the round, which included equity and a convertible loan, according to a report from AIN.Capital.
CRYPTO
Januar secures Danish payments institution license from the Danish Financial Supervisory Authority. The issuing of the license paves the way for onboarding clients across the full European Economic Area.
INVESTMENT
Lightyear announces the launch of its web application. The feature will enable customers to manage their portfolios, buy/sell shares and research 3,000+ instruments available on Lightyear.
Nalo secured a new funding deal, which was led by Mandalore Partners, an asset manager focused on insurance and savings. This investment sees Groupe APICIL.
MOVERS & SHAKERS
Viva Wallet announced the appointment of Samy Touboul, as its new Head of E-Commerce & Enterprise for the French market.
Yapily appointed Stefano Paoletti as SVP of Sales, UK, to fuel breakthrough growth in the region.
Qover announce the appointment of its first Chief Customer Officer Ed Ackerman.
Gigs hired Stripe and Nubank veteran Rafael Plantier as head of financial services.
Chrisitan Owens, the CEO of London-based fintech unicorn Paddle, is stepping down after ten years in the role.
Barclays appointed Kirsty Everett as its new chief compliance officer and a member of the group executive committee, subject to regulatory approval.