Photo by Ilia Bronskiy / Unsplash
Hello TWIF UK & Europe friends,
Please find another week of fintech news, financings and exits below.
Funding 💸
Highlights below of deals since the last post in the fintech space across the UK & Europe. Deal data powered by Dealroom.
🇪🇺 Financial automation platform Dost raised a £6m Series A led by Octopus Ventures.
🇪🇺 Invoice reconciliation fintech Donnerstag.ai raised a €4.3m round from SpeedInvest, QED Investors and Crestone Venture Capital.
🇪🇺 Crypto wallet and bank account solution Deblock raised a €30m Series A from SpeedInvest, CommerzVentures, Headline, Chalfen Ventures and more.
🇪🇺 SME tax solution Integral raised a €5.6m round from General Catalyst, Cheery Ventures and Puzzle Ventures.
🇬🇧 Lender Capital on Tap raised a £500m funding package.
🇬🇧 Lending platform SAPI raised a $5m round from Hudson Cove Capital and angels.
🌍 Spend management solution Ramp raised a $300m round at a $32m valuation.
₿ Crypto exchange Kraken raised $800m at a $20bn valuation from investors including Citadel and also filed for an IPO.
Challenger Banking 🚀
🇪🇺 Accounting software Pennylane launches in Germany.
🇬🇧 Revolut has applied for a South African banking licence. It also expanded its partnership with Booking.com for payments.
🇬🇧 Spend management fintech Pleo has partnered with accounting provider FreeAgent to streamline expense management for SMEs.
🇬🇧 Zopa Bank is launching investments in partnership with Upvest.
🇬🇧 Neobroker eToro has launched cash ISA's in a partnership with Moneyfarm.
🌍 Cash App is trialing a real-time financial health score.
Digital Assets ₿
🇪🇺 UBS has entered into a partnership with Ant International to partner on blockchain-based cross-border payment settlement.
🇪🇺 Deutsche Borse is to embed SocGen's EUR and USD CoinVertible stablecoin into its infrastructure. The bank also issued its first US digital bond with support from Broadridge.
🇬🇧 Kraken has listed Tokenised GBP, an GBP stablecoin issued by FCA regulated BCP Technologies.
🇬🇧 Revolut is launching stablecoin remittances in the UK and EEA with Polygon.
🌍 Figment, OpenTrade and Crypto.com have partnered to offer enhanced yield on stablecoins.
🌍 DeF protocol Aave is launching a high-yield savings app with $1m insurance-backed protection.
🌍 Citi and Swift had concluded their digital asset trial which demonstrated interoperability between crypto ledger.
🌍 Stablecoin issuer Tether has made a strategic investment into lender Ledn.
🌍 The OCC has said banks can hold certain cryptocurrencies needed to pay gas fees.
🌍 Coinbase has partnered with Morpho to enable ETH-backed loans.
Traditional Banking 🏦
🇬🇧 Lloyds is facing Curve shareholder rebellion of its £120m acquisition.
🌍 JPMorgan Chase is expanding in Dubai. It is also launching the largest fraud and scam prevention initiative in the banks history.
🌍 Bank of America is launching digital 401(k) and retirement planning.
🌍 US Bank has released a cash forecasting tool for corporate treasury.
🌍 Capital One has joined FedNow.
Fintech Infrastructure 🚧
🌍 JPMorgan has reached deals with more open banking providers including Yodlee, Morningstar and Akoya on fees for data access.
🌍 Open banking platform Plaid signed FICO as a customer for real-time cash flow data.
🌍 Card-scheme rule setting body EMVCo is looking into specifications for AI agentic payments.
Payments 💰
🇪🇺 Klarna is selling $6.5bn in loans to hedge fund Elliott Investment Management.
🇪🇺 European digital wallet Wero has gone live in Germany for e-commerce.
🇬🇧 Visa completed its first A2A payment in the UK using VRP.
👍 👎 Have feedback for us? Let us knowSee you next week!
