Mind the gap: how the Fintech Growth Fund aims to boost the UK fintech scene
The fund is set to raise capital from investors and pump money into UK fintechs looking to scale.
Europe
Europe fintech funding round-up: Plum, NoFrixion, Currensea and Finteum
Our weekly round-up for you to get the latest fintech funding news from around the UK and Europe.
Industry report: Funds disbursement in Europe – speed alone is not enough
Commissioned by Visa, the report takes a deep dive into funds disbursements in Europe to explore the current state of the market.
European community fintech 11Onze launches SME banking app
11Onze chair James Sène says SMEs are “the lifeblood of our communities and global economies”.
Blockchain firm SETL partners Swift for common tokenisation framework pilot
Parties from both the tokenised and traditional asset worlds collaborated on the project.
Welsh neobank Banc Cambria gearing up for launch next year
Banc Cambria is understood to be targeting a 2023 launch and hopes to reverse the tide of bank branch closures.
UK challenger Zopa in talks to raise $100m before mooted public listing
Zopa is reportedly in “detailed negotiations” with shareholders to raise around $100m.
Adyen partners open banking platform Tink for A2A payment solution
Adyen says its open banking integration will launch first in the UK, with plans to expand to multiple markets in 2023.
Merck commits $20m to CNote to support underserved communities in the US
The money will go to underserved communities in regions where Merck currently operates.
NORD/LB taps Trade Ledger for corporate finance solution
Trade Ledger CEO Martin McCann says the digital solution the firm has developed for NORD/LB is a “world first”.
Railsr secures $46m in Series C funding
CEO and co-founder Nigel Verdon says the funding is a “significant step on our route to profitability”.
Funding Circle forms lending partnership with Bayview Asset Management
The partnership aims to support “thousands” of UK small and medium-sized enterprises (SMEs).
Swedish lendtech DBT secures $284m financing from NatWest and Värde Partners
DBT’s credit analysis tech platform analyses real-time data to provide a more accurate risk assessment for SMEs.
ING head of transaction banking Mark Buitenhek steps down
Buitenhek first joined the bank in 1988 and has been head of transactions services since 2014.
UK challenger Bank North collapses
The bank failed to raise the funds needed for a full banking licence.
$4.7bn Prosus acquisition of India’s BillDesk falls through
The acquisition deal was originally announced back in August 2021.
Global PSP Worldline obtains 40% stake in Dutch Online Payment Platform
OPP founder and CEO between them own the remaining 60% of the company.
Societe Generale set to buy majority stake in PayXpert
Societe Generale aims to broaden payment offerings for European merchants through the acquisition.
UK SaaS platform Toqio nabs £17.2m in Series A funding
The funding also includes a £1.1 million grant from a Spanish public organisation for technology development.
Mobile payments service Paym to shutter in 2023
Pay.UK will wind down Paym after declining payment volumes and fewer signups over the past three years.
Tandem CEO Susie Aliker to step down, Alex Mollart to take over
Mollart is currently deputy CEO at the bank, having joined through the acquisition of Oplo.
Revolut can offer crypto asset services after FCA AML registration
Revolut, an authorised EMI since 2018, was added to the Financial Services Register on 26 September.
Satispay hits unicorn status with €320m Series D round
It aims to use the new funds to boost growth and support international expansion.
Spanish BNPL fintech SeQura lands €150m financing facility from Citi
The funding will support the firm’s expansion across southern Europe.
Liberis lands additional £140m investment from Barclays and BCI Finance
Barclays initially invested £34m in Liberis in December last year.
London-based open banking app sync. goes into administration
Start-up sync. was planning “massive growth” in 2021, powered by Railsr’s BaaS platform.
Zepz appoints Robert Mitchell as new group CFO
Headquartered in London, Zepz powers remittances for WorldRemit and SendWave.
Digital bank Paytend taps Tribe for issuing and acquiring services
Paytend says the partnership with Tribe will enable more efficient payment services.
French fintech Regate nabs $20m in Series A funding
The French start-up claims to have more than 10,000 clients.
Fintech mortgage lender Perenna lands $30m Series A from IAG Silverstripe
CEO Arjan Verbeek says the investment is “an endorsement of our mission to offer consumer-friendly mortgages”.
ABN Amro appoints Carsten Bittner as chief innovation and technology officer
Bittner, who is currently CTO at Commerzbank, is set to fill the vacancy left by Christian Bornfeld.
European fintechs join forces to make open finance a reality
The OFA wants to usher in an era of open finance in much the same way the EU’s 2016 PSD2 did for open banking.
Banking app for “global citizens” Bankkit launches in UK
The app offers overseas bill payment functionality and an integrated current account.
Banking start-up Fiinu readies for launch with new leadership hires
Fiinu has hired a new CFO, CPO and head of technology.
Klarna cuts more jobs just months after laying off 10% of global workforce
The BNPL giant is planning more cuts after laying off approximately 700 staff back in May.
New digital bank Bond to launch soon in the UK
Bond is gearing up to launch sometime in Q1 2023.
Virgin Money names Sarah Wilkinson as new COO
Wilkinson joins from Thomson Reuters, where she currently serves as CIO and head of TR Labs.
Citi to wind down UK retail banking ops to focus on wealth management
Citi’s retail banking footprint in the UK is small, with one branch at its EMEA headquarters in Canary Wharf.
B2B fintech Sequence lands $19m seed funding
The round was led by US venture capital firm Andreessen Horowitz.
CSI’s tech to underpin new UK challenger Bevan Money
Bevan Money aims to launch sometime in late 2023 or early 2024.
