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

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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.

🇪🇺 Scalable Capital raised a €60m round from Balderton and HV Capital.

🇬🇧Payment provider Icon Solutions raised investment from Citi.

🇬🇧 Transaction enrichment provider Triple raised a $7.5m seed round led by TX Ventures.

🇬🇧 SMB lender Liberis raised $112m of debt financing from BCI Capital and HSBC.

🇬🇧 Savings and investment app Chip raised £5.1m via crowdfunding platform Crowdcube.

🌍 MENA revenue based financing lender Flow48 raised a $12.5m debt and $12.5m equity seed round from SpeedInvest, Daphni and more.

🌍 Consumer lender Best Egg secured a $150m credit facility from Cross River Bank.

🌍 Canapi Ventures closed a $750m fintech fund.

🌍 Canadian neobank Koho raised a C$86m Series D extension.

Challenger Banking 🚀

🇪🇺 Neobroker Trade Republic received a full banking licence as it looks to expand into savings and investments.

🇬🇧 Business neobank Allica Bank has partnered with Wise Platform to use its infrastructure for cross-border business payments.

🌍 B2B lender Capchase has launched a new invoice collection tool called Capchase Collect.

🌍 Spend management provider Navan has cut 5% of its staff.

🌍 Alternative investment platform Yieldstreet acquired real-estate investment platform Cadre.

🌍 Neobroker Public is launching fixed income trading powered by infrastructure provider Moment.

Digital Assets ₿

🇪🇺 Societe Generale has listed a euro stablecoin on exchange BitStamp.

🇪🇺 Robinhood has launched crypto trading for customers across the EU.

🇬🇧 UK lawmakers are seeking to have the holding limit on a digital £ lowered and to allow interest to be paid on holdings.

🇬🇧 Crypto.com received an EMI licence from the FCA.

🌍 Circle is partnering with Latam neobank Nubank to expand access to USDC.

🌍 Binance's new CEO has refused to identify were the company's headquarters are. It has also withdrawn its application for an investment management licence in Abu Dhabi.

🌍 Block is signing up users for a self-custody bitcoin wallet called Bitkey.

Traditional Banking 🏦

🇬🇧 Barclays is to shut another 18 branches in 2024.

🇬🇧 TrueLayer has signed Nordic neobank Lunar as a customer of its A2A solution.

🌍 Standard Chartered is enabling BNPL online and in-person for its cardholders in APAC.

🌍 RBC was fined $5.5m CAD for administrative violations of AML rules in Canada.

🌍 Commonwealth Bank of Australia is to work with Vodafone to tackle SMS scams and make proactive blocks on fraudulent payments.

🌍 The OCC has issued guidance warning US banks to ensure that BNPL products are offered in a "safe and sound" manner.

🌍 BlackRock is rolling out GenAI tools to its staff and customers.

Fintech Infrastructure 🚧

🇪🇺 A Court of Justice ruling may impact the data retention lengths of credit scoring companies, currently three years, but are contrary to GDPR.

🇬🇧 A2A solution Banked is to enter the US market next year.

🇬🇧 PWC has signed an implementation platform for Starling's BaaS solution Engine.

🌍 Treasury Prime is partnering with Effectiv to provide banks and fintechs with a solution to reduce fraudulent transactions and risk management.

Payments 💰

🇪🇺 The EU is focused on a digital euro, instant payments and cross-border payments for 2024.

🇪🇺 Adyen has been selected as the global acquiring partner for Klarna.

🇪🇺 B2B payment solution Mondu is partnering with payment infrastructure provider Mangopay to create a unique offering for marketplaces.

🇬🇧 SaaS company Endava will integrate with Paze, the new digital wallet from US banks.

🇬🇧 Samsung is partnering with Mastercard's Wallet Express program to improve take up for its mobile wallet.

🇬🇧 The British Retail Consortium's Annual Payment Survey found cash transactions increased from 15% to 19% in 2022.

🌍 Shift4 is to be the payment provider for the Baltimore Ravens ticketing and stadium.

🌍 Global payment solution Airwallex has used LLMs to reduce false positives in KYC by 50%.

🌍 Amazon is to drop Venmo as a payment method in January.

Regulatory Corner 🔎

🇬🇧 Banking regulators are proposing to bring oversight of third party technology firms that are relied upon by financial firms into their purview.

Longer reads 📜

• AI will revolutionise customer service in banking — Science Card
• BaaS Fintechs Coming to Age to Fuel Integrated Finance Needs - Flagship Advisory
• The state of the BaaS market - Hugo Hazon
• The Token Layer Cake - Chuck Yu, Fintech Brain Food

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See you next week!