ICYMI fintech funding round-up: Stubben Edge, Elementaryb and Bud
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Europe
BBVA migrates its investment banking platform to the cloud with AWS
BBVA says the AWS platform “provides greater computing power” to make financial market-related calculations.
More banking hubs and pods earmarked for UK as branch closures continue
A further nine banking hubs and six deposit services have been recommended by Link.
Financial planning platform Lyfeguard launches in the UK
The start-up aims to tackle the problem of poor personal information storage and management.
JP Morgan reportedly planning German digital bank offering
The launch is set for late 2024 or early 2025, Bloomberg reports.
UK challenger Zopa lands £75m funding to fuel growth
Zopa says the deal “cements and markedly enhances” its unicorn valuation.
UK government to strengthen rules around crypto
The government will strengthen rules for crypto trading platforms and crypto lending in line with traditional finance.
UK’s Tech Nation to close, sell assets after losing government grant funding
Tech Nation says it is “actively seeking” interested parties to acquire a portfolio of its assets.
Swiss private bank Bergos goes live with FNZ’s core banking tech
Bergos customers will now be able to manage their finances through a mobile app.
UK-based digital asset wallet Mode to shut down
Mode says it is winding down its services “due to unsuccessful funding and difficult market conditions”.
DekaBank taps Metaco for digital asset custody platform Harmonize
The platform will enable DekaBank to offer custody services for cryptocurrencies and digital securities.
Liberis lands €30m in debt financing from Silicon Valley Bank UK
The funding will support Liberis’ targeted expansion across the Nordics and Europe.
Leeds Building Society embarks on major tech & ops transformation
The UK’s fifth largest building society looks to replace core tech and hire more tech staff.
UK fintech Raylo bags £110m debt financing facility
Raylo provides consumers with “affordable” access to tech products on a monthly subscription basis.
New savings app for homeowners in the UK: Sprive
Sprive’s AI mortgage assistant, available through a mobile app, helps customers pay off their mortgage faster.
Data management platform Finbourne lands £30m debt facility with Kreos
The debt facility constitutes an extension to Finbourne’s Series A funding held in April 2021.
UK mortgage lender LiveMore bags £250m credit facility from Citi
The new funding facility will enable LiveMore to increase loan originations and grow its portfolio.
German challenger N26 names Arnd Schwierholz as CFO
Schwierholz, who will assume the role of CFO on 1 February 2023, replaces Jan Kemper.
Dubai Investments buys 9% stake in UK challenger Monument Bank
Dubai Investments says the acquisition gives it a “unique opportunity” to move into the digital banking space.
Report: How banks can blend digital and human for superior customer experience
Featuring practical business banking case studies from Metro Bank, Santander, and Lombard.
Commerzbank files lawsuit against EY over €200m Wirecard losses
Commerzbank has filed a suit against the accounting firm in Frankfurt court, Reuters reports.
Ecospend’s “pay-by-bank” open banking tech drives HMRC app payments
This is first time an open banking payment method was embedded in a government department’s system.
UK fintech funding round-up: Caura, Themis and Keyzy
A handy round-up of the recent funding endeavours of fintech companies in the UK.
German AML regtech Hawk AI lands $17m Series B
The round saw participation from investors including Sands Capital, DN Capital, Coalition and BlackFin Capital.
Copper.co names former UK chancellor Lord Hammond as chair
Lord Hammond has provided “strategic advice” to the firm as a senior advisor since October 2021.
UK personal finance app HyperJar appoints Rob Rooney as CEO
Prior to HyperJar, Rooney spent 32 years at Morgan Stanley, including as CEO of Morgan Stanley International.
Wealthtech start-up Nucoro reshapes its business
“Last year, we decided to reshape the business to be in line with our new strategic imperative,” says CEO.
Court closes administration of UK paytech Goodbox, rules in favour of restructuring
The court has ruled in favour of a proposed US-style Chapter 11 restructuring of Goodbox.
B2B BNPL platform Tranch raises $100m in debt and equity
$5 million have been raised in equity while the rest – $95 million – have been taken on as debt.
Finora Bank taps regtech iDenfy for automated customer onboarding
The partnership will help Finora Bank manage fraud risks and gain insights into its financial operations.
PayPal faces antitrust investigation in Germany
The Bundeskartellamt is investigating “practices possibly foreclosing competitors and restricting price competition”.
Dutch paytech Mollie promotes CTO Koen Köppen to CEO
Köppen was hired as Mollie’s CTO last year from Klarna.
Corlytics acquires regulatory lifecycle platform ING SparQ in €5m deal
Corlytics’ CEO John Byrne says the deal “sets the runway for further strategic acquisitions”.
CMA warns HSBC over breaches of retail banking order
The CMA’s letter says that HSBC “self-reported” the breaches following a review of its compliance.
Open letter calls on UK government to boost SME credit access
The letter has been co-signed by Codat, Atom Bank, Funding Circle, Iwoca, Allica Bank, SPRK Capital and others.
Freedom Finance names Richard Parfitt head of data science
Parfitt will be tasked with leading Freedom Finance’s data products initiative.
FCA greenlights Nova Credit to provide credit references for new arrivals
Nova Passport collates cross-border credit bureau data to help businesses underwrite new-to-country individuals.
OBIE names Marion King as new chair and trustee
King will succeed Charlotte Crosswell, the current chair and trustee, who will step down on 31 January.
Wealthtech start-up Equipped appoints Edward Green as CEO
Equipped is a UK-based provider of analytics solutions for alternative asset management firms.
Regtech start-up GSS raises £37m
Global Screening Services (GSS) has raised funds from AlixPartners, The Cynosure Group, and MUFG.
