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The Front Page of Global Fintech

The the largest fintech community in the world. Subscribe to our newsletter to stay up to date on the latest in news opinions, and all things financial technology.

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This Week in Fintech UK & Europe (18/04)

This Week in Fintech UK & Europe (18/04)

Happy Easter TWIF UK & Europe friends,

Please find another week of fintech news, financings and exits below. If you are reading this but haven’t already subscribed, you can click below 🙏

Don’t forget to also share with colleagues and friends!

Huge congrats this week to Nala Money founder Benjamin Fernandes as their team completed their first test transaction!

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Come find your place on the team at the most inspiring fintech startups! Browse open roles on This Week in Fintech’s job board.

Funding 💸

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

🇪🇺 Expense management provider Zevoy has raised a €15m Series A led by Blossom Capital.

🇪🇺 Montonio raised a €11m Series A led by Index Ventures.

🇪🇺 Marketplace payment solution Payaut has raised a €8m seed round led by Gradient Ventures and included LocalGlobe and Entree Capital.

🇪🇺 Crypto custody provider Dfns raised a $13.5m seed round led by White Star Capital and included Coinbase, Ryan Selkis and others.

🇪🇺 Rental investment fintech Beanstock raised a €12m Series A led by 360 Capital.

🇪🇺 Revenue-based finance lender re:cap raised a $15m Seed led by Mubadala.

🇬🇧 SMB lender Stenn raised a $50m round at a $900m valuation from Centerbridge Partners

🇬🇧 Wagestream raised a $175m Series C, $60m equity and $115m debt, from Smash Capital and Silicon Valley Bank

🇬🇧 Remittance fintech Leatherback raised a $10m pre-seed round led by ZedCrest Capital.

🇬🇧 Property lender OnLadder raised a £275,000 angel round led by Monzo co-founder Paul Rippon.

🇬🇧 Digital asset gateway Fasset raised a $22m Series A led by Liberty City Ventures and Fatima Gobi Ventures.

🌍 Binance.US raised $200m at a $4.5bn valuation.

🌍 Circle raised $400m at a $9bn valuation from BlackRock, Fidelity, Marshall Wallace and Fin Capital.

Challenger Banking 🚀

🇬🇧 Australian property exchange PEXA has partnered with ClearBank to launch a remortgage product in the UK later this year.

Digital Assets ₿

🇪🇺 Crypto lender Nexo has partnered with Mastercard to launch a card linked to a crypto-backed line of credit.

🇪🇺 EU Commission received 10,000 comments on its digital euro consultation.

🇬🇧 Bank of England fintech hub leader Varun Paul has left his post to join crypto firm Fireblocks.

🇬🇧 UK fintech firms were left confused trying to marry the government’s push for the UK to be a crypto hub with the tough approach of the FCA towards crypto firms.

🇬🇧 Blackfridge has secured an Isle of Man licence for its GBP stablecoin.

🌍  Despite successful tests recently, the ETH merge looks to be delayed again.  An official date has not been announced.

🌍  Mastercard has filed filed for 15 metaverse trademarks.

🌍 Worldpay is offering merchants the ability to directly receive settlement in USDC through a partnership with Circle, with a pilot customer.

🌍 Gemini’s crypto credit card has launched across the US through partnerships with WebBank and Mastercard.

🌍 Robinhood looks to be adding Shiba Inu, Solana, Polygon and Compound to its platform.

🌍 Beanstalk Farms was exploited for $182m.

Fintech Infrastructure 🚧

🇪🇺 Plaid hired former exec Ripsy Bandourian to head up Europe.

🇬🇧 Minna Technologies announced through its partnership with Lloyds Bank that it has cancelled over 1m subscriptions since last summer.

🇬🇧 Nova Credit is expanding to the UK to help borrowers carry their credit history with them when they move abroad.

🇬🇧 Truelayer has launched its “closed loop payments” product in Ireland, France, Germany, Spain, Lithuania and the Netherlands which provides pay-ins and pay-outs from a dedicated merchant account.

🌍 US clearing house DTCC is exploring the use of CBDCs as a settlement mechanism.

Payments 💰

🇪🇺 Adyen is set to roll out Apple’s new Tap to Pay by the end of the year.

🇬🇧 StonePay has launched to give reputation scores to companies based on their previous payment timeliness to help SMBs who face late payments from other businesses.

🇬🇧 Barclaycard Payments announced UK retailers have lost out on £130m in sales due to a lack of SCA compliance, which requires all online payments over £25 be subject to 2FA.

🌍 Square released a new Square Stand, an iPad based POS across its eight markets.

🌍 Credit card as a service platform Deserve is offering businesses a white label commercial card issuing platform.

Regulatory Corner 🔎

🇪🇺 The European Commission launched the EU Digital Finance Platform which is designed to facilitate partnerships and contact between fintechs and regulators.

🇬🇧 The FCA is prioritising its resources to “prevent serious harm, set higher standards and promote competition”.

🌍 New York Department of Financial Services is developing a new “assessment” for crypto firms as it seeks to bring the industry under its regulation.

🌍 The CFPB has described TransUnion as an “out of control repeat offender that believes it is above the law”

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