Hello TWIF UK & Europe friends,

Please find another week of fintech news, financings and exits below.

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Tweet of the week 🦉🏆

Funding 💸

Highlights below of deals since the last post in the fintech space across the UK & Europe.

🇪🇺 Italian payments company Satispay raised a €320m Series D round led by Addition.

🇪🇺 Business planning startup Pigment raised a $65m Series B from Institutional Venture Partners and Meritech Capital Partners.

🇪🇺 Worldline is acquiring a 40% stake in Dutch PSP Online Payment Platform.

🇪🇺 Employee insurance and benefits provider Yonder raised a €2.7m seed round led by Northzone and Frontline Ventures.

🇪🇺 Neobank myTU raised a €5m seed round from angel investors.

🇪🇺 Savings solution for Lebanese citizens Masref raised a seed round led by Sequoia Capital and others.

🇪🇺 FinOps provider Regate raised a €27m Series A led by Valar Ventures.

🇪🇺 NFT minting platform Epsiloom raised a €150k seed round from Demium Capital.

🇬🇧 Blockchain based payments company Fnality International is seeking a £50m Series B with Nomura investing.

🇬🇧 Pension calculator Guiide raised £200k in early funding.

🇬🇧 Travel debit card provider Currensea raised a £2.4m round from 1818 venture capital and Blackfinch Ventures.

🇬🇧 Digital mortgage lender Perenna raised a $30m Series A from IAG Silverstripe.

🇬🇧 Liberis raised a new £140m debt financing from Barclays and BCI Finance.

🇬🇧 Embedded finance fintech Toqio raised a €20m Series A funding round from SpeedInvest, SIX FinTech Ventures and others.

🇬🇧 Bank treasury solution Finteum raised a £1.3m seed round led by SuperSeed Ventures.

🌍 Australian embedded finance platform Shaype raised A$33m in a Series C led by Regal Funds Management.

🌍 Nova Credit has received $10m in investment from HSBC.

🌍 B2B payments outfit Billtrust is being acquired by EQT Private Equity.

Challenger Banking 🚀

🇪🇺 Credit card startup Moss has laid off 70 people, 15% of its workforce.

🇪🇺 Neobroker Trade Republic has hit 2m customers, putting it nearly on par with rival FlatexDegiro.

🇪🇺 Public.com is acquiring neobroker Bux.

🇬🇧 Revolut has continued its international expansion by adding Mexico and Brazil and also secured FCA approval for its crypto service.

🇬🇧 Funding Circle has secured a £700m lending deal with Bayview Asset Management.

🇬🇧 Fintech lenders Habito, Atom Bank and Molo Finance have pulled their mortgages alongside many other lenders.

Digital Assets ₿

🇪🇺 Crypto.com has got regulatory approval as a Digital Asset Service Provider (DASP) in France.

🇪🇺 A digital Euro will take at least until 2026 to arrive according to the ECB.

🇬🇧 Curve is to launch a crypto rewards program.

🇬🇧 Plum and BitPanda have announced a partnership to provide crypto trading services to Plum customers.

🌍 Crypto exchanges in the Canadian market are consolidating with Coinsquare buying rival CoinSmart.

🌍 Uniswap appears to be working on new products to target volumes on centralised exchanges like Binance and Coinbase.

🌍 Celsius Network is considering plans to turn its debt into tradable IOU tokens. Its CEO also resigned this week.

🌍 Walt Disney Company is looking to explore technology opportunities including NFTs.

🌍 Police in Brazil raided six crypto exchanges as part of an investigation into tax evasion and money laundering.

🌍 Stripe is expanding its crypto support by offering USDC payments for freelancers.

🌍 Wealth manager Betterment is partnering with Gemini to offer crypto investing portfolios to its customers.

🌍 FTX US has won the bid to buy Voyager Digital for $1.4bn.

🌍 Crypto lender Nexo Group has faced action from state regulators regarding its Earn Interest Product which has not been registered as a security.

🌍 Coinbase shares dropped after Wells Fargo issued a warning on their profitability.

🌍 Circle is acquiring payments orchestration platform Elements to boost crypto payments adoption.

Traditional Banking 🏦

🇪🇺 Silicon Valley Bank UK is expanding its presence in the Nordics with an office in Stockholm.

🇬🇧 Chase UK has hit the £10bn deposit milestone alongside announcing it has 1m customers.

🇬🇧 HSBC is integrated banking services into NetSuite Accounts Payable Automation.

Fintech Infrastructure 🚧

🇪🇺 SWIFT is to roll out a new service to give full transparency in post-trade processing after a successful pilot. The new service will help prevent settlement failures by better tracking the post-trade lifecycle and allow early detection of issues.

🇬🇧 Open Banking platform Sync has gone into administration.

🇬🇧 Mobile payment service Paym is being shut down due to declining usage.

Payments 💰

🇪🇺 Belgian banks continue to try to bring their Payconiq payment startup into a slimmed down version of EPI despite its unsuccessful wallet tender application.

🇪🇺 Adyen has launched two new POS terminals, NYC1 for businesses with existing hardware and AMS1 for businesses that want one central device to manage operations.

🇪🇺 Dutch payments provider Mollie is getting into lending with Mollie Capital.

🇬🇧 Payments fintech Volume has exited stealth mode by launching “Pay Now Spend Less” solution.

🇬🇧 POS provider myPOS has secured a EMI licence from Central Bank of Ireland.

🌍 Research from Marqeta’s State of Credit Report 2022 shows 57% of consumers it surveyed across the US, Australia and UK rely on credit to cope and 37% struggle to make minimum monthly credit card payments.

🌍 Amazon and Affirm have extended their payment partnership to Canada.

🌍 DoorDash has launched a co-branded credit card with Chase in the US.

🌍 Shopify has launched POS Go, a hardware solution for merchants to make a sale anywhere.

🌍 Square is launching tap to pay on iPhone in the US.

🌍 Bloomberg reported that Apple’s Pay Later is facing significant setbacks and its rollout is delayed.

Regulatory Corner 🔎

🇬🇧 The Payment Systems Regulator is proposing that all APP fraud victims get a full reimbursement in all but exceptional circumstances.

🌍 The CFPB is suing lender MoneyLion for illegally charging service members in a violation of the Military Lending Act.

Longer reads 📜

• US Payments Environment – Something Big – 5 Part Series - Tom Noyes
• Can BNPL for business take off in Europe? - Mouro Capital
• Can Mike Novogratz’s Comeback Narrative Survive the Crypto Crash? - Michelle Celarier
• Here’s What’s In the White House’s Crypto Reports - Nikhilesh De
• Open Data is the key to improving consumer outcomes - Simon Taylor
• It’s All About the Money (Movement): Simplifying Cross-Border Payments - Joe Schmidt and Anish Acharya
• Paradise FedNow? How the 2023 Payments Network Will Improve Real-Time Payments - Seema Amble, Santiago Rodriguez, and Alex Immerman

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