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REPORT
UK startups outside of London should have more than one founder, ensure gender diversity and join an accelerator, according to the findings of a recently published report.
The study, ‘Scaling UK Regional FinTech’, was conducted by Innovate Finance, Streets Consulting and Whitecap Consulting.
It found that among 250 FinTech scaleups located outside of London those with multiple founders generally achieved more revenue growth. Furthermore, those with female founders achieved 30% more turnover growth than those with only male founders.
?? NEWS HIGHLIGHT
Apple's, opens new tab offer to open its tap-and-go mobile payments system to rivals is set to be approved by EU antitrust regulators as soon as next month after it tweaked some of the terms, people familiar with the matter said.
Apple's bid to settle the four-year investigation would help it dodge a finding of wrongdoing and stave off a potential hefty fine that could be as much as 10% of its global annual turnover.
Apple's tap-and-go technology called near-field communication, or NFC, allows for contactless payments with mobile wallets.
?? ARTICLE
Congratulations to Mimo the UK-based business platform, which has successfully raised ￡15.5 million in a round led by Northzone, alongside Cocoa Ventures, Seedcamp, and Upfin VC.
Well done also to Pactio a UK-based platform for private equity, for having raised a $14 million venture round. The new round was led by EQT Ventures.
Lastly, we want to extend our congratulations to Deblock, the French FinTech that offers a current account in euros and a wallet with cryptocurrencies in the same place, for having raised €12 million in a Venture Round from Headline, 20VC, and Motier Ventures.
??INSIGHTS
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? FINTECH HIGHLIGHTS
?? HSBC-backed FinTech Monese plots break-up amid mounting losses.
?? Fingate.io Receives $1.2 Million Investment from Ko? GSYF.
领英推荐
?? Manchester Digital launches manifesto to boost FinTech in the North.
FINTECH
London FinTech CEOs say UK employees can't compete with "100 hour weeks" in Asia. Iana Dimitrova, CEO of OpenPayd, said "productivity levels in the UK since the economic crisis have actually been really, really slow."
Leading Australian SME lender Bizcap launches in the UK, offering faster, more open-minded lending solutions. Unlike traditional lenders, Bizcap employs a unique approach to credit assessment and risk evaluation, gaining a deep understanding of its customers.
UK universities collaborate on FinTech courses. The programme aims to enable the financial services sector to adopt new technologies, strategies, and processes in order to unlock more effective product and service design, increase productivity and profitability.
Fire Ravages Copenhagen’s Historic Stock Exchange. A fire ripped through Copenhagen’s old stock exchange and toppled the building’s iconic spire, a centerpiece of the city’s skyline since the 17th century.
Cogo and Personetics Announce Partnership to Accelerate Planet-Friendly Finance. Banks using Personetics’ digital banking solutions will now be able to offer customers the ability to measure their carbon emissions and thereby understand their carbon footprint based on spending habits.
Justt opens European HQ in London. The new base has been established in response to strong customer growth across the UK and EMEA as first-party/ friendly fraud-hit businesses look to Justt’s industry-leading chargeback mitigation services.
eToro chases activist investors with new proxy votes push. The broker's 35 million global investors will have an increasing say in the direction of ASX companies, with its managing director laying down the gauntlet for super funds.
Zopa CEO quashes IPO speculation. During the fireside chat with Akila Quinio, reporter at the Financial Times, said: “The easiest way to get a story in the media is to say ‘I raised this much money at this much valuation’. Very little actual diligence is done on what is the preference sits under it.”
PAYMENTS
Modernising the trains and rails of UK payments. Amidst the prospect of significant technological change in payments, Sarah Breeden sets out how the Bank of England seeks to deliver trust and support innovation.
Kevin. Triumphs with First Account-to-Account NFC iPhone Transaction. This technological leap forward follows the European Commission’s pressure on Apple to democratize NFC access.
DIGITAL BANKING
What a week it was for Revolut. They truly ?????? (????)???? ????????. Here are the Top 10 BIG News Updates from Revolut last week.
CRYPTO
Introducing Kraken Wallet, aself-custodial wallet by Kraken Digital Asset Exchange, the first major-exchange Wallet to be open-source at launch.
DONEDEAL
Finmid raises $24.7M to help SMBs access loans through platforms like Wolt. The startup believes that it makes more sense for SMBs to access capital via business partners than via a bank or neobank, and they will do so.
Finmid Emerges From Stealth, Raises €35 Million. Finmid is an embedded finance platform that aims to provide platforms with an alternative to working with banks. The company claims with just a few lines of code you can access financial services on a platform.
Data analytics provider Bridgewise raises $21M. ?The funding will further accelerate the expansion of Bridgewise's global presence and support the development of its ML-enabled recommendations.?
Danish FinTech startup Flatpay raises €45M to simplify payment solutions for smaller merchants. Flatpay plans to use this funding to further its mission of simplifying and improving the lives of small businesses.
Pliant announces an €18+ million Series A extension financing led by PayPal Ventures, bringing its total Series A financing to more than €50 million.
Wagestream to take on high street banks after ￡17.5m fundraise. Financial benefits provider aims to serve millions overlooked by banking & already processes more salaries than Virgin Money and Metro Bank.
Latvian FinTech startup inGain raises EUR 650,000. This is the first publicly announced investment in Latvian startups this year. inGain offers a no-code SaaS loan management system to FinTech companies, as well as other businesses that want to offer lending to their customers.
Manchester FinTech Lemon raises ￡500k in pre-seed funding. This raise is particularly significant as it shows there is still demand for new FinTechs which can solve real problems for real businesses across the globe.
M&As
Huma Finance And Arf Merge To Transform Global Finance Through Real World Asset Tokenization. Huma Finance, and Arf, announced the companies have merged to expand global blockchain-powered financial services.
Konvi acquires Fractible and Diversified. Konvi, as Europe’s leading fractional investment platform, is eyeing more acquisitions in the near future to strengthen its market-leading position, grow its customer base and expand its offering.
MOVERS & SHAKERS
Adyen names Italy country manager to lead expansion. Adyen said it had named Gabriele Bellezze country manager for Italy to develop the Dutch payments group's presence in the country.