German fintech start-up Finmid emerges from stealth with €35m in funding
The fintech claims it provides “a much-needed alternative to banks for European SMBs looking for financing support”.
Germany
Germany’s Landesbank Baden-Württemberg taps Bitpanda to offer crypto custody services
LBBW will launch a pilot for its crypto custody services in the second half of 2024.
GFT Technologies promotes Marco Santos to group CEO
Santos will replace current group CEO Marika Lulay, who is due to leave the company at the end of the year.
Tide names former SVP George Schmidt as new regional CEO for UK and Europe
Schmidt will be responsible for leading Tide’s recently announced expansion into the German market.
Germany’s NX Technologies lands $24m in Series B round led by PayPal Ventures
The Cologne-based fintech start-up plans to use the funding to expand into new European markets.
Baader Bank modernises regulatory trade and transaction reporting with Broadridge
Baader Bank already uses Broadridge’s solutions for trading and market connectivity, and order management.
Germany’s Solaris bags €96m in Series F funding round
The new capital injection adds to Solaris’ initial €38 million Series F raise announced in 2023.
GFT Technologies names Ian Oswald as new executive director
Oswald joins GFT from EY, where he was a partner in the company’s technology consulting team.
ICYMI fintech funding round-up: Zūm Rails, Pulsate, Monite, Spektr and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Germany’s BaFin warns Deutsche Bank of potential fines if it doesn’t improve money laundering controls
BaFin has extended its monitoring of Deutsche Bank until 30 October 2024.
Germany’s Commerzbank taps Surecomp to revamp trade finance back office
The Frankfurt-based commercial bank has adopted the vendor’s DOKA-NG solution.
Chase plans to open more than 500 new branches and hire 3,500 staff by 2027
The bank also plans to renovate more than 1,700 existing locations across the US.
Deutsche Bank to cut 3,500 roles over two years amid €2.5bn savings drive
The German investment bank says the cuts will mainly apply to “non-client-facing areas”.
ICYMI fintech funding round-up: Kafene, General Index, Mesh and Netcetera
A handy round-up of the recent funding endeavours of fintech companies across the globe.
GFT cultivates core banking capabilities with acquisition of Colombia’s Sophos Solutions
The acquisition will see GFT take on all of Sophos’ partners and 1,700 of its employees.
Mondu gears up for European expansion with €30m debt financing boost
Mondu’s credit facility with VVRB now stands at €50 million following an earlier deal in 2022.
German AML regtech Hawk AI names Michael Shearer as new chief solution officer
Shearer previously served as group head of compliance product management at HSBC.
Commerzbank forms joint venture with Global Payments for SME payment solutions
The new joint venture, Commerz Globalpay, is expected to launch in H1 2024 and will be based in Frankfurt.
Germany’s Scalable Capital secures $65m in Series E extension
The raise follows on from the company’s $180 million Series E round in June 2021.
Liberis bags $112m in debt financing to fuel expansion in North America and Europe
Liberis plans to go live in Canada, Germany and Poland in 2024.
German wealthtech Trade Republic lands full EU banking licence from the ECB
The new licence means the firm can now offer essential banking services such as deposits and lending.
Contis hit with €840,000 fine by Bank of Lithuania
The fine relates to alleged AML failings over a period between 2021 and 2022.
Commerzbank becomes first German bank to receive crypto custody licence
With the new licence, Commerzbank aims to build up a range of digital asset services, with a focus on crypto assets.
N26 to cease operations in Brazil within the next two months
The challenger bank wants to focus its efforts on its “core markets”, namely Germany, France, Spain and Italy.
German insurtech Wefox secures $55m debt financing from Deutsche Bank and UniCredit
Wefox plans to boost its global expansion efforts, with a focus on mergers and acquisitions.
European Payments Initiative completes acquisitions of iDEAL and Payconiq International
The acquired solutions will boost the development of EPI’s digital wallet Wero, which is launching next year.
Deutsche Bank plans to cut Postbank branch network by nearly half
The bank is reportedly planning to close around 250 of its 550 Postbank branches within the next three years.
German funds servicer Universal Investment names Francesca McDonagh as group CEO
McDonagh is to assume the position from 1 January 2024, taking over from interim group CEO David Blumer.
UK lendtech Uncapped lands £200m debt facility as it eyes international expansion
With the new facility, Uncapped aims to expand its reach and provide more digital businesses with access to financing.
Iwoca lands £200m debt facility from Barclays and Värde Partners
With the new facility, Iwoca plans to meet the “growing demand” among SMEs for working capital.
German fintech Upvest secures €30m funding and enters partnership with BlackRock
Upvest has also partnered BlackRock in a bid to make investing “more accessible” for investors across Europe.
Raisin appoints former UBS chair Axel Weber as advisor and board member
Raisin claims to have experienced a “steep growth curve” amid interest rate hikes and a “savings rush”.
Deutsche Börse set to take over wealthtech firm SimCorp
Deutsche Börse first announced the acquisition in April as a means of developing its investment management business.
Mercedes-Benz drives in-car fuel payments through new Mastercard partnership
Drivers will be able to complete refuelling payments via an in-car fingerprint scanner.
Solaris reportedly struggling to raise funds to fulfil a major credit card deal – FT
According to the Financial Times, Solaris is looking to raise €100m to fulfil its credit card deal with ADAC.
BaaS fintech Swan plans European expansion with €37m Series B
France-based Swan will be launching in the Netherlands and Italy.
Gilles BianRosa steps down as CPO of N26 to pursue career in the US
BianRosa is to assume a position on the bank’s supervisory board from this month.
Deutsche Bank reportedly makes contact with digital investment fintech Scalable Capital
A potential deal would align with the bank’s continued development of its wealth services over the past year.
German payments start-up Ivy secures $20m in Series A funding round
The Valar Ventures-led Series A comes just weeks after a €7.7 million seed funding round led by Creandum.
PandaDoc buys Denario for consolidated document and payment workflow offering
PandaDoc clients can now “manage, collect and report on invoices alongside their contracts, all in one location”.
