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Fintech in Spain is thriving - TWIF UK & Europe (11/09)

TWIF UK & Europe - The latest fintech news across the UK and Europe

Fintech in Spain is thriving - TWIF UK & Europe (11/09)

Hello TWIF UK & Europe friends,

Fintech deals in Spain grew 21% in the first half of 2023, defying the global trend of falling investment.

Please find another week of fintech news, financings and exits below.

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Tweet of the week πŸ¦‰πŸ†

Funding πŸ’Έ

Highlights below of deals since the last post in the fintech space across the UK & Europe.

πŸ‡ͺπŸ‡ΊAsset securitisation fintech GenTwo raised a $15m Series A led by Point72 Ventures.

πŸ‡ͺπŸ‡ΊAML solution Strise raised a $10.8m Series A from Atomico,, Curiosity VC and Sondo Capital.

πŸ‡ͺπŸ‡ΊB2B BNPL provider Treyd raised a $12m Series A from Zenith Venture Capital, J12 Ventures, Antler and Nineyards Equity.

πŸ‡ͺπŸ‡Ί Stock trading information app Vickii raised a €1m seed round from angels.

πŸ‡ͺπŸ‡ΊTrade finance software Komgo raised a round from Emirates NBD.

πŸ‡ͺπŸ‡Ί Insurtech AKUR8 raised $25m from BlackFin Capital Partners, Guidewire Software and FinTLV.

πŸ‡¬πŸ‡§ID&V fintech OneID raised Β£1m from ACF Investors.

πŸ‡¬πŸ‡§ Fintech lender Wayflyer raised $1bn in debt funding from investment manager Neuberger Berman.

πŸ‡¬πŸ‡§AI credit analytics solution Tradeteq raised a $12.5m Series A from L&G Capital, Niya Partners, Interlock Partners, MS&AD Ventures and Victor Ganzi.

πŸ‡¬πŸ‡§Neobank Kroo is looking to raise a Β£50m - Β£70m Series C.

πŸ‡¬πŸ‡§ Carbon financing solution Opna raised a $6.5m Seed round from investors including Atomico, Tiny VC and angels.

🌍 Nigerian BaaS platform Anchor raised $2.4m from Goat Capital, FoundersX, Rebel Fund, YC and Byld Ventures.

🌍 Fincrime startup ThetaRay raised a $57m funding round from OurCrowd, Jerusalem Venture Partners and Portage Ventures.

Challenger Banking πŸš€

πŸ‡ͺπŸ‡ΊSMB fintech Friday Finance has sold itself to Pliant as it shuts down.

πŸ‡ͺπŸ‡Ί Trading solution eToro has partnered with Bridgewise to launch a portfolio of stocks powered by AI.

πŸ‡¬πŸ‡§BNPL provider Zilch is exploring an IPO on the London Stock Exchange.

πŸ‡¬πŸ‡§ Atlantic Money has introduced fixed fee cross-border transfers for businesses in 29 countries

πŸ‡¬πŸ‡§ Lender Lenkie announced they have reached the milestone of lending Β£10m to SMBs in the UK.

πŸ‡¬πŸ‡§ Monzo has introduced a feature to help consumers with impersonations scams. Monzo customers can check their app when they receive a phone call from someone reporting to be from Monzo to check if it is a genuine call.

πŸ‡¬πŸ‡§ Mortgage lender Perenna has received an unrestricted banking licence from the FCA and PRA.

πŸ‡¬πŸ‡§ LHV Bank is upgrading its SME tech stack by partnering with Tuum.

🌍 Nubank is to offer personal loans in Mexico.

🌍 Invoice lending platform Waddle is to be acquired by The Commonwealth Bank of Australia.

🌍 Australian neobroker Upstreet is shutting down.

Digital Assets β‚Ώ

πŸ‡ͺπŸ‡ΊKraken is rolling out PayPal deposits in the UK and Europe.

πŸ‡¬πŸ‡§ The London Stock Exchange is to create a digital marketplace built using blockchain technology.

πŸ‡¬πŸ‡§ The UK is developing a POC of a "Regulated Liability Network", a network based on a shared ledger for central bank money, commercial bank money and electronic money.

πŸ‡¬πŸ‡§ The FCA is delaying new crypto marketing rules to give firms more time to comply.

🌍 Visa is bringing it USDC stablecoin settlement capabilities to the Solana blockchain through collaborations with Nuvei and Worldpay.

🌍 Coinbase is spinning up a lending service for institutional clients.

Traditional Banking 🏦

πŸ‡¬πŸ‡§ NatWest is to work with Icon Solutions to develop its payment modernisation strategy that incorporates ISO 20022 messaging.

πŸ‡¬πŸ‡§ Barclays is rumoured again to be considering selling some of its merchant payment business.

πŸ‡¬πŸ‡§ HSBC is working with Terra Quantum to test out the use of quantaum computing technology.

🌍 JP Morgan is partnering with MEA based commerce company Network International to expand its acquiring services in the region.

Fintech Infrastructure 🚧

πŸ‡ͺπŸ‡ΊCore banking provider Temenos has rolled out an AI tool for classifying customer bank transactions.

πŸ‡ͺπŸ‡ΊTransaction enrichment solution Ntropy* partnered with Yapily to expand transaction enrichment across Europe.

πŸ‡¬πŸ‡§Finastra has launched a new cloud-based loan documentation solution, LaserPro.

🌍 Payments infrastructure Astra expanded its partnership with Plaid to incorporate identity verification into payment authentication.

🌍 Plaid release a new version of Link which ties bank account connections to a phone number to improve conversion.

🌍 Stripe launched Enhanced Issuer Network, a set of partnerships with card issuers that integrates Stripe Radar to help reduce and detect fraud.

Payments πŸ’°

πŸ‡ͺπŸ‡ΊJP Morgan is accelerating hiring in its Greek payment innovation lab.

πŸ‡ͺπŸ‡Ί Payment solution Mangopay has partnered with B2B payment provider Kriya.

πŸ‡¬πŸ‡§ Adyen has secured an UK banking licence enabling it to offer bank accounts, cards and cash advances to UK customers.

πŸ‡¬πŸ‡§ Payment solution Paysafe partners with retail trading platform Eightcap to launch an embedded trading wallet.

πŸ‡¬πŸ‡§Payment orchestrator APEXX Global is to integrate Klarna as a payment method.

🌍 Mastercard has strongly pushed back on previous reports it is set to increase fees.

🌍 Hyundai has launched an in-car payment solution for US drivers.

🌍 X (Twitter) has gained new MTL licences in Rhode Island and Mississippi.

🌍 The RBI has launched a new UPI digital payment suite focused on credit and offline payments.

Have a thought/question/comment about anything we covered?

β€ŒStart a discussion in the comments section below!

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See you next week!

*I currently work at Ntropy