Photo by Sebastian Staines / Unsplash
Hello TWIF UK & Europe friends,
Please find another week of fintech news, financings and exits below.
Programming note: There will be no TWIF UK & Europe next week.
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Tweet of the week 🦉🏆
Oh wow! Natwest has invested in the UK Credit Card start-up @yondercard.
I love this.
Smart for both sides.
Here's my thinking.. pic.twitter.com/WgMglH6LrC— Simon Taylor (@sytaylor) April 9, 2025
Uber has no cars
Airbnb has no real estate
The stock market has no value
This is the new economy— Trung Phan (@TrungTPhan) April 7, 2025
Funding 💸
Highlights below of deals since the last post in the fintech space across the UK & Europe. Deal data powered by Dealroom.
🇪🇺 Finance tool Pennlylane raised a €75m round from Sequoia, DST Global, Meritech Capital and CapitalG.
🇪🇺 Transaction monitoring fincrime startup Hawk raised a $56m Series C from DN Capital, BlackFin Capital Partners, One Peak Partners and more.
🇬🇧 Fixed income trading technology TransFicc raised a $25m round from HSBC, Citi Ventures, ING Ventures, Illuminate Financial and more.
🇬🇧 Private markets platform Treble Peak raised a £5m round.
🇬🇧 Cross-border stablecoin solution Damisa raised a £2.3m round from Fuel Ventures, Greyhound Capital and EWOR.
🇬🇧 Payment platform Ryft raised a £5.7m Series A from BBB, Pembroke VCT, EdenBase, GPOS Investments and SidebySide Partnership.
🇬🇧 Private equity operating system DealStack raised a $5.5m round from KKR, TA Associates, CVC Capital. Goldman Sachs and more.
Challenger Banking 🚀
🇬🇧 Neobank Revolut has received a €3.5m fine from Lithuania's central bank over AML failings. It is also expanding its services in Belgium and will enable users to open Belgian bank accounts.
Digital Assets ₿
🇪🇺 BitPanda has received a MiCAR licence from the FMA.
🇬🇧 Stablecoin money movement app Sling Money has secured a MiCA licence.
🌍 Crypto exchange Kraken secured a Restricted Dealer Registration in Canada.
🌍 Ripple has acquired crypto prime broker Hidden Road for $1.25bn.
🌍 Digital asset custodian Zodia Markets has partnered with ECN Finery.
🌍 Digital asset group Taurus has launched an interbank network for digital assets.
🌍 The SEC announced "covered" stablecoins like USDT and USDC are not securities and no registration is needed for minting or redeeming.
Traditional Banking 🏦
🇪🇺 Banco Santander has secured a Canadian banking licence.
🇬🇧 Metro Bank has launched a scam detection tool in partnership with Ask Silver.
🇬🇧 NatWest has announced a minority investment in credit car startup Yonder.
🇬🇧Lloyds Banking Group is to partner with Google Cloud to accelerate its AI development.
Fintech Infrastructure 🚧
🇬🇧 Open banking payments provider OpenPayd has partnered with Wincent for fiat payments.
🇬🇧 BaaS provider ClearBank reported £112m in revenue (30% yoy) resulting in its second profitable year with £9.9m in adjusted pre0tax profit.
🇬🇧 Open banking platform Yapily has secured business bank Allica as a customer.
🌍 Financial software provider Galileo has introduced a deposit sweet product for fintechs.
🌍 US BaaS platform Solid has filed for bankruptcy.
🌍 PayPal has partnered with card-on-file management fintech Knot.
Payments 💰
🇪🇺 Payment provider Mollie has expanded to Sweden.
🇪🇺 BNPL provider Klarna has paused its IPO plans in the wake of Trump's tariff uncertainty.
🇪🇺 Payment provider Mondu has expanded its B2B payment network through partnerships with Payin3 and Lemonway.
🇪🇺 The ECB has called for Europe to reduce its dependence on foreign controlled digital payment systems.
🇪🇺 JCB will extend its card acceptance in Germany through a partnership with First Cash Solution.
🇬🇧 Payments platform Airwallex is to pursue banking licences in the UK and US.
🇬🇧 Viva.com has launched instant money movement in the UK with Mastercard Move.
🇬🇧 Checkout.com will roll out domestic card issuance in UAE.
🌍 The merger of Capital One and Discover will not be blocked by the DOJ.
🌍 Shopify has launched instalment payment options powered by Affirm in Canada.
🌍 Block will pay $40m in penalties for AML failures.
Regulatory Corner 🔎
🇬🇧 The FCA is to overhaul its regulatory framework for alternative asset managers.
💡
Have a thought/question/comment about anything we covered?
Start a discussion in the comments section below!
Longer reads/listens 📜
Understanding Merchants – Cards on File - Tom Noyes
The New Frontier for Payments - Dave Birch
Inside Credit One Bank—And How Two Men Made Billions Exploiting People With Bad Credit - Jemima McEvoy, Forbes
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