The Front Page of Global Fintech

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.

Image Description

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.

Image Description

Klarna checks out - TWIF UK & Europe (01/07)

The latest fintech news across the UK and Europe for week ending 1st July 2024.

Klarna checks out - TWIF UK & Europe (01/07)

Hello TWIF UK & Europe friends,

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

πŸ‘ πŸ‘Ž Have feedback or news to share? Let me know on Twitter and LinkedIn.

Check out our sponsorship information

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. Deal data powered by Dealroom.

πŸ‡ͺπŸ‡Ί VC firm MiddleGame Ventures is raising a new fund with a €150m target.

πŸ‡ͺπŸ‡Ί Digital lender Banca AideXa raised €16m.

πŸ‡ͺπŸ‡Ί Family fintech app Bling has raised a $12m Series A.

πŸ‡ͺπŸ‡Ί Agricultural insurtech IBISA raised a $3m seed round from Ankur Capital, ADB Ventures, Acumen and Equator.

πŸ‡ͺπŸ‡Ί Micro financing institution Credo Bank raised a $13m round from Symbiotics Group.

πŸ‡ͺπŸ‡Ί Insurtech Feather raised a €6m round from Keen Venture Partners, Entrepreneur First and Plural.

πŸ‡¬πŸ‡§ Super-app Curve has received investment from Samsung's VC arm, Samsung Next.

πŸ‡¬πŸ‡§ FX trading dark pool LoopFX raised a Β£2.6m round from Augmentum Fintech.

πŸ‡¬πŸ‡§ Wealthtech Plum raised Β£2.2m on Crowdcube.

πŸ‡¬πŸ‡§ Reinsurance marketplace Supercede raised a Β£15m Series A from MMC, Seedcamp, Outward VC, Alven, Mundi Ventures and AFP Partners.

🌍 Egyptian BaaS provider Connect Money raised $8, led by Disruptech Ventures and Algebra Ventures.

🌍 Payment provider Rainforest raised a $20m Series A led by Matrix Partners.

🌍 Regtech Norm AI raised a $27m Series A.

🌍 Mexican fintech Ximple raised $2.7m to launch a credit platform.

Challenger Banking πŸš€

πŸ‡ͺπŸ‡Ί German neobank C24 Bank has extended its partnership with core banking provider Mambu.

πŸ‡ͺπŸ‡Ί Insurtech Qover has launched an AI-powered claims experience.

πŸ‡¬πŸ‡§ SMB lender Funding Circle is selling its US operations for Β£33m.

πŸ‡¬πŸ‡§ Agricultural neobank Oxbury has reported a pre-tax profit of Β£3m.

🌍 Latam neobank Nubank has partnered with Lightspark to bring the Bitcoin Lightning Network to its platform.

🌍 Global payment solution Airwallex has integrated Quickbooks to improve multi-currency reporting.

🌍 Latam neobank Nubank has acquired data intelligence company Hyperplane.

Digital Assets β‚Ώ

πŸ‡ͺπŸ‡Ί Digital asset infrastructure provider Taurus has launched its Custody and Issuance solutions on Stellar.

πŸ‡ͺπŸ‡Ί Digital asset custodian Zodia has partnered with 21Shares to provide custody services for ETPs in Europe.

πŸ‡¬πŸ‡§ Crypto exchange Bitstamp has made changes to its offering to make it compliant with MiCA regulation, notably delisting EURT.

πŸ‡¬πŸ‡§ Stablecoin payment provider BVNK has launched Layer1, a self-hosted, self-custody digital asset infrastructure to help businesses launch stablecoin payments quickly.

πŸ‡¬πŸ‡§ Digital asset custody provider Copper has signed exchange Kraken as a customer for its off-exchange trading solution ClearLoop.

πŸ‡¬πŸ‡§ Bitcoin payment app Strike has expanded to the UK.

πŸ‡¬πŸ‡§ Stablecoin P2P transfer app Sling Money has partnered with digital asset infrastructure provider Paxos to switch its stablecoin base from USDC to USDP.

🌍 Van Eck is to waive fees on a spot ETH ETF when it is approved. It also filed for a Solana ETF.

🌍 Institutional custody provider State Street is to work with Galaxy Digital to develop active crypto trading products.

🌍 Coinbase has sued the SEC and FDIC over FOIA requests. It also partnered with Stripe to add USDC on Base as a crypto payout method.

Traditional Banking 🏦

πŸ‡ͺπŸ‡Ί Commerzbank is to offer a new digital credit card to its business customers with Pliant.

πŸ‡ͺπŸ‡Ί German bank Raiffeisen Bank selected Surecomp to reinforce its trade finance customer engagement.

πŸ‡¬πŸ‡§ Virgin Money is developing personal customer experiences using technology from Experian. The bank is also expanding its AI-powered assistant.

πŸ‡¬πŸ‡§ Lloyds has renewed its contract with Visa.

🌍 Under fire US bank Evolve has revealed it suffered a data breach.

Fintech Infrastructure 🚧

πŸ‡¬πŸ‡§ Cross-border transfer solution Wise has signed SME neobank Qonto as a customer for its B2B Wise Platform solution to provide cross-border capabilities.

πŸ‡¬πŸ‡§ Digital ID's from Yoti ID, Post Office EasyID and Lloyds Bank Smart ID have been accredited by the Proof of Age Standards Scheme.

πŸ‡¬πŸ‡§ Thought Machine has signed payments company Payset as a customer.

Payments πŸ’°

πŸ‡ͺπŸ‡Ί Klarna has sold its Checkout business to a consortium of investors to allow Klarna to focus on its core BNPL product. It also announced its US subscription service Klarna Plus has reached 100,000 subscribers.

πŸ‡ͺπŸ‡Ί PSP myPOS has introduced Tap to Pay on iPhone in Germany. Payment provider Nexi has also done the same.

πŸ‡¬πŸ‡§ Payment processor Paymentology has partnered with African cross-border money provider Mama Money to launch a WhatsApp payment card.

πŸ‡¬πŸ‡§ US payment solution Global Payments has acquired Takepayments.

πŸ‡¬πŸ‡§ Payment provider Ecommpay has partnered with ecommerce platform BigCommerce.

πŸ‡¬πŸ‡§ Payment orchestrator BR-DGE has partnered with A2A provider Trustly to offer open banking payments to its customers.

🌍 Payment orchestrator Gr4vy is to partner with Trustly to launch in Europe.

🌍 A US judge has rejected the $30bn settlement between Visa, Mastercard and retailers.

🌍 Visa has launched "Digital Emergency Card Replacement", a new service to give a replacement card on behalf of issuers via text or email.

Regulatory Corner πŸ”Ž

πŸ‡¬πŸ‡§ The FCA has found that gamification by trading apps increases risk taking among users which could mean an incoming crackdown.

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

β€ŒStart a discussion in the comments section below!

Longer reads/listens πŸ“œ

πŸ‘ πŸ‘Ž Have feedback for us? Let us know

Follow me on Twitter and LinkedIn for more fintech content

See you next week!