Open finance specialist Fabrick acquires UK paytech Judopay
Fabrick says the deal is “a major step forward in its internationalisation process and expansion in the UK”.
Italy
TAS acquires fellow Italian software provider Mitobit
The acquisition is the fourth for TAS Group since July 2022.
OWIN23: Key takeaways from the Objectway user conference
Wealthtech and banking technology provider Objectway sets out its strategy.
Illimity Bank sells IT source codes to Engineering Group in €55.5m deal
The €55.5 million is set to be paid over 2023-2026 with a potential additional €4.5 million between 2024-2032.
Illimity Bank and EIB sign €200m agreement to support Italian SMEs
This is the second agreement between the two firms, following the €1 billion funding facilitated in 2021.
BNP Paribas deploys Worldline solution to tackle SEPA direct debit fraud
BNP Paribas Cash Management will deploy Worldline’s Account Validation solution.
Intesa Sanpaolo partners IBM to upgrade its IT infrastructure
Intesa Sanpaolo will utilise the IBM z16 platform to bolster its cybersecurity operations.
Nexi to acquire 80% of Sabadell’s merchant acquiring business for €280m
The all-cash deal worth €280 million values the business at €350 million.
Arvest Bank launches new lending product powered by Thought Machine
Arvest claims it is the first US bank to offer lending capabilities on Thought Machine’s core.
Nexi taps IBM to upgrade core payments infrastructure
Nexi will utilise the tech giant’s IBM z16 and IBM Storage System offerings.
Sella launches pilot of biometric credit card in Italy
The biometric card is being issued by Sella on the Visa scheme, developed in partnership with Idemia.
Worldline to buy Banco Desio’s merchant acquiring activities for €100m
With the partnership, Worldline aims to leverage Banco Desio’s network to expand its presence in Italy.
Europe fintech funding round-up: Payable, Axyon AI, Cube and HeidiPay
A handy round-up of the recent funding endeavours of fintech companies across Europe.
Satispay hits unicorn status with €320m Series D round
It aims to use the new funds to boost growth and support international expansion.
Italian wealthtech Objectway appoints head of UK and Ireland
Hassan Suffyan joins from Ernst & Young UK.
TAS acquires Italian paytech consultancy Krisopea
Acquisition reflects TAS’ “acceleration in non-organic growth” driven by largest shareholder Rivean Capital.
TAS hires Andrew Quartermaine as COO as it looks to boost international growth
Quartermaine joins from ACI, where he was director of merchant retail for Europe.
Italian paytech Nexi partners Microsoft to develop digital payments solutions
The strategic partnership will see the pair work together to “digitise the European payments space”.
European proptech Casavo secures €400m in equity and debt funding
The Series D equity raise, led by Exor, represents Europe’s largest proptech financing to date, Casavo says.
Euronext migrates core data centre from UK to Italy
The move has been a strategic decision made in response to multiple factors including Brexit.
Nexi sells capital markets tech business to Euronext for €57m
Nexi is selling its tech businesses that are powering MTS and Euronext Securities Milan to Euronext.
Nets buys German POS specialist orderbird
Nets is part of European paytech conglomerate Nexi Group, which will own 100% of orderbird.
Salt Edge partners Azimut to launch investment app Beewise
The partnership will enable Beewise users to connect their existing bank accounts securely to the new app.
Italian BNPL platform Scalapay bags $27m in Series B extension
Scalapay has now raised $727 million in total funding to date.
Mobile tax app Taxfix lands unicorn status with $220m Series D funding
The round saw participation from Teachers’ Venture Growth, Index Ventures, Valar Ventures, Creandum and Redalpine.
FinTech Futures: Top five stories of the week – 8 April 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Bank of Italy bans N26 from “undertaking operations with new customers” over AML shortcomings
N26 says it takes money laundering “very seriously” and has been scaling up its global AML efforts since last year.
Banking platform for self-employed and micro-businesses Tot launches in Italy
Milan-based Tot plans to onboard 50,000 domestic customers within three years and then look abroad.
Italian BNPL provider Scalapay raises $497m in Series B
Scalapay has also launched a checkout experience platform for e-commerce called Magic.
Banking tech vendor Thought Machine receives £40m investment from Intesa Sanpaolo
Thought Machine’s Vault system will underpin Intesa Sanpaolo’s new digital banking service, Isybank.
Intesa Sanpaolo partners Thought Machine for new digital bank offering
The new digital bank will cater to the 4 million Intesa Sanpaolo customers already utilising digital-first services.
Moneyfarm turns to investment giant M&G for £44.1m Series D funding round
Also, M&G use Moneyfarm’s technology to create its own branded proposition.
French fintech Qonto secures €486m Series D funding to boost European growth
The bumper funding round takes the start-up’s valuation to €4.4 billion.
Payroll automation start-up PayFit achieves unicorn status after €254m Series E
The fintech intends to hire 400 new employees across Europe in 2022.
CBI: Collaborative open finance ecosystems for a market success story
80% of the Italian banking market (around 300 PSPs) has adopted CBI Globe to meet the requirements of the PSD2.
BNP Paribas partners European paytech SIA to launch branded corporate cards
“The payment card market is undergoing a huge transformation,” says BNP’s head of cards.
BBVA enters open finance partnership with Italy’s Sella
The European multinationals will utilise open banking platform Fabrick.
CBI: Collaborative open finance ecosystems for a market success story
80% of the Italian banking market (around 300 PSPs) has adopted CBI Globe to meet the requirements of the PSD2.
CBI turns to Nexi and SIA for Italian payments architecture project
Cloud-based solution to expand digital transaction banking services.
Scalapay raises $155m in Series A round to fund BNPL expansion
European payments firm seeks greater foothold in core markets.
