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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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Adyen signs big partnership - (26/06)

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

Adyen signs big partnership - (26/06)

Hello TWIF UK & Europe friends,

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

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Funding πŸ’Έ

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

πŸ‡ͺπŸ‡Ί B2B billing solution Hyperline raised a €4m seed round led by Index Ventures and included Kima Ventures, Cocoa and others.

πŸ‡ͺπŸ‡Ί B2B social trading software StockRepublic raised a SEK 30m round led by Placera Media.

πŸ‡ͺπŸ‡ΊFinancial advisor matching platform raised a CHF 200k seed round.

πŸ‡¬πŸ‡§Payments provider Volt raised a $60m Series B led by IVP and included Commerz Ventures, EQT, Augmentum and Fuel Ventures.

πŸ‡¬πŸ‡§ Cash management fintech TreasurySpring raised a Β£15m Series B from MMC Ventures, Balderton Capital, Anthemis, Black Lion Ventures and ETFS Capital.

πŸ‡¬πŸ‡§ Payment provider Mypinpad raised Β£13m from Crossfin Technology.

🌍 AI risk provider Blackbird AI raised a $20m Series B led by Ten Eleven Ventures.

Challenger Banking πŸš€

πŸ‡ͺπŸ‡ΊFroda, Lunar and Visa are collaborating to launch a card-based embedded lending solution in Denmark.

πŸ‡¬πŸ‡§ Revolut has unveiled a new premium tier "Ultra" that costs Β£540 per year which comes with a range of benefits. It partnered with Qover for trip and event cancellation insurance.

πŸ‡¬πŸ‡§ Wise has launched an instant access account with 4.12% interest by investing in government bonds via an BlackRock fund. Β It charges a 0.19% management fee on top of BlackRocks 0.10%.

πŸ‡¬πŸ‡§ Embedded lending fintech YouLend is partnering with Amazon to provide Amazon businesses with up to Β£2m in funding.

🌍Robinhood is acquiring X1, a credit card startup.

Digital Assets β‚Ώ

πŸ‡ͺπŸ‡Ί Deutsche Bank has applied for a Digital Asset Custody Licence in Germany.

πŸ‡ͺπŸ‡ΊLegislation on a digital euro is back on the table to be published later this month by the European Commission.

πŸ‡¬πŸ‡§A public comment on the plans for a digital pound have seen requests for the CBDC to be interoperable with crypto.

🌍 Ripple is testing its CBDC platform with Colombia's central bank.

🌍 Data obtained by CoinDesk from a Freedom of Information Law request concerning Tether showed that 80% of its funds were invested in commercial paper back in 2021.

🌍 The SEC and Binance have agreed to further ring fence Binance US by ensuring only employees of the US subsidiary can access its customers funds. The crypto exchange also cancelled its UK registration.

🌍 confirmed it trades on its own exchange after the FT reported allegations.

🌍EDX Markets, a un-hosted crypto exchange from Charles Schwab, Citadel Securities and Fidelity Investments launched.

🌍 Crypto payments platform Wyre has shut down.

🌍 More US asset managers including WisdomTree and Invesco have followed Blackrock and applied to the SEC for a bitcoin ETF.

🌍 Prime Trust cannot meet all of its customers withdrawals according to the Nevada Financial Institutions Division.

🌍 MakerDAO has bought $700m in US Treasury bonds.

🌍 Fed Chair Powell wants federal regulation for stablecoins and a role in the sectors regulation more broadly.

Traditional Banking 🏦

πŸ‡ͺπŸ‡ΊBBVA is to partner with AWS for its new data platform.

πŸ‡¬πŸ‡§ Nationwide has pledged to postpone closing branches that might leave any town or city without one until 2026

πŸ‡¬πŸ‡§Lloyds Bank is setting up an IT center in India

🌍 JP Morgan invested in trade finance fintech

Fintech Infrastructure 🚧

πŸ‡ͺπŸ‡ΊEBA Clearing is to pilot a pan-European fraud detection solution.

πŸ‡ͺπŸ‡ΊCore bank software provide Tuum is integrating Marqeta's card issuing capabilities

πŸ‡¬πŸ‡§Credit scoring provider ClearScore is launching in New Zealand.

πŸ‡¬πŸ‡§BaaS provider Bankable has acquired Arex Markets a business lender.

πŸ‡¬πŸ‡§UK payment system CHAPS has migrated to the new ISO 20022 messaging format.

🌍 Financial data enrichment provider Ntropy partnered with Ocrolus to enable enrichment of PDFs.

🌍 Plaid launched a hosted solution for Plaid Link to more easily embed the product into user journeys. They also launched Plaid Beacon, a platform to share information about stolen identities and compromised accounts.

🌍 The state of Nevada has created a licensing requirement for earned wage access providers.

🌍 Banking software provider nCino's stock saw a 25% rise after reports that a private equity firm was interested in taking it over.

Payments πŸ’°

πŸ‡ͺπŸ‡ΊPayment provider BridgerPay launched Paywith, a solution to to allow consumers to may with a mix of payment methods.

πŸ‡ͺπŸ‡Ί PayPal is selling €40bn of its European in BNPL loans to private equity group KKR.

πŸ‡ͺπŸ‡Ί Payment provider Payabl is bringing a POS terminal to market through a partnership with Mastercard.

πŸ‡ͺπŸ‡Ί Payment giant Adyen is partnering with Shopify as the e-commerce provider seeks to target enterprise customers. Shopify is also making its Shop Pay checkout available as a standalone component for large retailers.

πŸ‡¬πŸ‡§ Payment provider Zepz, owner of WorldRemit and Sendwave, is looking to grow via acquisitions

πŸ‡¬πŸ‡§Payments infrastructure Thunes has opened an office in Beijing.

🌍 Both JP Morgan and American Express reported steady delinquency rates.

🌍 American Express has partnered with spend management platform Payem to enable its customers to create on-demand virtual cards.

Regulatory Corner πŸ”Ž

πŸ‡ͺπŸ‡ΊThe Bank of Lithuania has revoked the licence of an EMI provider UAB Payrnet, the subsidiary of Railsr, for violations of AML.

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