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 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

Licences for you and for you - TWIF UK & Europe (11/12)

The latest fintech news across the UK and Europe

Licences for you and for you - TWIF UK & Europe (11/12)

Hello TWIF UK & Europe friends,

Did you know we have a Slack channels for all things fintech in UK and EU? Join 8,000+ of your fellow fintech enthusiasts and check out the UK and EU channels!

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.


Sponsored Content 

Want to be a This Week in Fintech - UK & Europe sponsor? Reach out to me at michael@thisweekinfintech.com and see our sponsorship information here.


πŸš€
Why subscribe to This Week in Fintech?

β€’ Join other execs from Visa, Plaid, Stripe, Robinhood, Revolut, Chime, Rapyd, and more to get the latest insights and deep dives.
β€’ Learn from and collaborate with the world's largest fintech community, with 75,000+ members.
β€’ Memberships start at $10 per month.

Join today.

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

πŸ‡¬πŸ‡§Payment provider Icon Solutions raised investment from Citi.

πŸ‡¬πŸ‡§ Transaction enrichment provider Triple raised a $7.5m seed round led by TX Ventures.

πŸ‡¬πŸ‡§ SMB lender Liberis raised $112m of debt financing from BCI Capital and HSBC.

πŸ‡¬πŸ‡§ Savings and investment app Chip raised Β£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 πŸš€

πŸ‡ͺπŸ‡Ί Neobroker Trade Republic received a full banking licence as it looks to expand into savings and investments.

πŸ‡¬πŸ‡§ 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 β‚Ώ

πŸ‡ͺπŸ‡Ί Societe Generale has listed a euro stablecoin on exchange BitStamp.

πŸ‡ͺπŸ‡Ί Robinhood has launched crypto trading for customers across the EU.

πŸ‡¬πŸ‡§ UK lawmakers are seeking to have the holding limit on a digital Β£ lowered and to allow interest to be paid on holdings.

πŸ‡¬πŸ‡§ 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 🏦

πŸ‡¬πŸ‡§ Barclays is to shut another 18 branches in 2024.

πŸ‡¬πŸ‡§ 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 🚧

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

πŸ‡¬πŸ‡§ A2A solution Banked is to enter the US market next year.

πŸ‡¬πŸ‡§ 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 πŸ’°

πŸ‡ͺπŸ‡Ί The EU is focused on a digital euro, instant payments and cross-border payments for 2024.

πŸ‡ͺπŸ‡Ί Adyen has been selected as the global acquiring partner for Klarna.

πŸ‡ͺπŸ‡Ί B2B payment solution Mondu is partnering with payment infrastructure provider Mangopay to create a unique offering for marketplaces.

πŸ‡¬πŸ‡§ SaaS company Endava will integrate with Paze, the new digital wallet from US banks.

πŸ‡¬πŸ‡§ Samsung is partnering with Mastercard's Wallet Express program to improve take up for its mobile wallet.

πŸ‡¬πŸ‡§ 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 πŸ”Ž

πŸ‡¬πŸ‡§ Banking regulators are proposing to bring oversight of third party technology firms that are relied upon by financial firms into their purview.


πŸ’‘
Have a thought/question/comment about anything we covered?

β€ŒStart a discussion in the comments section below!

Longer reads 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!