Hello TWIF UK & Europe friends,

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

Note: There will be no TWIF UK & EU newsletter next week.

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Funding 💸

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

🇪🇺 Accounting solution Pennylane raised a $200m round from TCV and Sequoia.

🇪🇺 Bitcoin savings application Bitstack raised a $15m Series A led by 13books Capital.

🇬🇧 Revolut completed a secondary fundraise at a $75bn valuation with Nvidia and A16Z investing.

Challenger Banking 🚀

🇪🇺 Financial platform for SMEs Finon launched premium business cards across Europe.

🇬🇧 Neobank Monzo has reached 14 million customers, adding two million in the past six months.

🇬🇧 SME bank Tide is launching connected insurance for its customers.

🇬🇧 Cross-border transfer service Wise has become the first non-bank to go live with Japan's Zengin network.

🇬🇧 Neobank Revolut is implementing a regulatory reporting and risk platform from Nasdaq.

🌍 Neobroker Robinhood is creating a new exchange for prediction markets.

Digital Assets ₿

🇪🇺Crypto exchange Kraken has launched the Krak Card across the EU and UK as it pushes to become a financial super app.

🇪🇺 Klarna has launched its own dollar-backed stablecoin, KlarnaUSD, on the Tempo blockchain.

🇪🇺 Tokenization platform Securitize wins EU approval to operate a tokenized trading and settlement system and will use Avalanche.

🇬🇧 UK banks including HSBC, Barclays and Lloyds are launching a tokenised sterling pilot.

🌍 Crypto exchange KuCoin has integrated with Brazil's instant payment service Pix.

🌍 Crypto onramp provider MoonPay secured a New York Trust Charter.

🌍 US Bankcorp is testing stablecoins on Stellar blockchain.

🌍 Blockchain infrastructure provider Paxos acquired custody and wallet provider Fordefi.

🌍 Wallet provider Exodus is acquiring Baanx and Monovate for $175m.

🌍 Cross River Bank launch stablecoin payment infrastructure to allow customers to embed stablecoin payments in their bank account offerings.

🌍 The state of Texas has purchased $5m in IBIT as it starts its bitcoin reserves.

🌍 Xapo Bank expands its bitcoin credit fund and develops suite of BTC wealth products.

Traditional Banking 🏦

🇪🇺 ABN Amro is to cut nearly a quarter of its workforce over the next three years.

🇬🇧 Lloyds is facing a legal challenge from shareholders of its recently acquired fintech Curve in an attempt to block the deal.

🌍 OCBC is introducing in-app calls for customers travelling outside Singapore.

Fintech Infrastructure 🚧

🌍 Green Dot is splitting up with its bank and embedded finance businesses being sold to different buyers.

Payments 💰

🇪🇺 Payment provider Mollie is preparing for ChatGPT agentic commerce.

🇪🇺 Global payments firm Airwallex has become a principal member of EPI.

🇬🇧 Payment provider Checkout.com has announced support for the Agentic Commerce Protocol (ACP).

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See you next week!