UK neobanks forge ahead - TWIF UK & Europe (28/04)

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

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Highlights below of deals since the last post in the fintech space across the UK & Europe. Deal data powered by Dealroom.

🇪🇺 SME lender Froda raised a €20m Series B from Incore Invest and angels.

🇪🇺Ta fintech TaxDown raised a €4m round from Bonsai Partners.

🇬🇧 B2B lender Hokodo raised a €10m equity round led by Korelya Capital and Opera Tech Ventures.

🇬🇧 Insurtech Marshmellow raised a $45m round from Passion Capital, Investec, BlackRock and Columbia Lake Partners.

🇬🇧 BaaS provider BKN301 raised a €21.5m Series B from Prosus, CDP Venture Capital, CRIF and Simnest.

🇬🇧 Embedded payments fintech Runa raised a $55m round from Fuel Ventures, Stride.vc, AlbionVC and 13books Capital.

🌍 Latam open banking platform Belvo raised a new $15m round.

🌍 Neobroking infrastructure provider Alpaca raised a $52m Series C.

🇬🇧 Neobank Monzo surpassed 12 million customers.

🇬🇧 Cross-border transfer fintech Wise has launched a new feature to allow grouping an order with family and friends to make a payment together.

🇬🇧 B2B lender Liberis joined forces with Fincompare to scale its revenue-based financing in Germany.

🇬🇧 Neobank Revolut reported $1.4bn in pre-tax profits for its Fy 2024 with revenues +72% yoy to £3.1bn. It has also removed currency exchange fees during weekend hours for premium customers.

🇬🇧 Zopa Bank has reported over £34m in profits for the second year running, doubling last year's pre-tax profit.

🌍 Neobroker Webull went public via a SPAC.

🇪🇺 ING is working on a stablecoin alongside other tradfi and crypto firms.

🌍 Tokenization platform Securitize acquired the fund administration business of MG Stover.

🌍 Standard Chartered and exchange OKX launch a collateral mirroring program.

🌍 Circle is working with Standard Chartered, Deutsche Bank, Soc Gen and Santander to build a cross-border payment network to compete with Swift.

🌍 Coinbase and other digital asset firms are reportedly considering applying for federal bank charters.

🌍 PayPal is offering US users a reward rate of 3.7% on their holdings of PYUSD, its stablecoin. It also partnered with Coinbase to increase adoption of the stablecoin with no fees on purchases.

🌍 Crypto exchange Kraken launched FX perpetuals, enabling 24/7 trading in foreign exchange pairs.

🌍 Cantor Fitzgerald, Tether and SoftBank are launching a publicly listed SPAC which will hold and promote bitcoin, aiming for $3bn worth of BTC.

🇬🇧 Lloyds has retired 20 on-premises applications for its lending infrastructure and moved them to the cloud.

🇬🇧 BaaS bank Griffin signed Haboo Money as a customer.

🇬🇧 Open banking platform Yapily signed fintech RiseUp as a customer for its A2A payment solution.

🌍 Open banking provider Plaid signed MoneyGram as a customer in the US.

🇪🇺 Klarna signed Clover as a customer to distribute it instalment loans in the US.

🇪🇺 Payment provider Adyen was hit by a cyberattack.

🇬🇧 Checkout.com has signed eBay as a customer.

🇬🇧 Barclays is offloading its acquiring business through a partnership with Brookfield.

🌍 Global Payments is to acquire Worldpay for $22.7bn.

🌍 Block is to pay a $40m penalty for lax oversight of Cash App to NY regulators.

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