Hello TWIF UK & Europe friends,

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

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Funding 💸

Highlights below of deals since the last post in the fintech space across the UK & Europe. Deal data powered by Dealroom.

🇪🇺 Insurtech Vantel raised a SEK 20m Seed round from Y Combinator, Inception Fund and Rebel Fund.

🇪🇺 ESG wealthtech WeeFin raised a €25m Series B from IRIS, BlackFin Capital Partners, Ring Capital and Asterion Ventures.

🇬🇧 Global payments giant Zepz raised a $165m in growth financing led by HSBC Innovation Banking.

🇬🇧 Neobroker Wealthyhood raised a €3.6m round.

🌍 Latam spend management platform Mendel raised a $35m Series B led by Base10 Partners and included PayPal.

🌍 Open banking giant Plaid raised $575m at a $6.1bn valuation.

Challenger Banking 🚀

🇬🇧 The Prudential Regulation Authority is proposing raising the FSCS deposit protection limit to £110,000.

🇬🇧 Neobank Monzo launched a contents insurance product.

🇬🇧Revolut has had its valuation upgraded by investor Schroders.

🌍 The founder of Frank, a fintech sold to JPMorgan for $175m was found guilty of defrauding the bank.

🌍 Chime has launched a new premium membership program and new banking features in the run up to its IPO.

Digital Assets ₿

🇪🇺 Binance has added Apple Pay and Google Pay as payment options for depositing EUR.

🇬🇧 Crypto platform Ziglu launched Crypto on Card, a way for customers to spend their crypto using a debit card.

🇬🇧 The FCA plans to introduce a new authorisation regime for cryptocurrency firms by 2026.

🇬🇧 BlackRock secure FCA crypto registration. Galaxy also secured a derivatives trading licence.

🌍 The CFTC withdraw two advisory notices related to risks with digital assets, announcing digital asset derivatives will get the same regulatory treatment as other products. The FDIC is also removing a requirement to notify the agency before banks engage in crypto.

🌍 Galaxy Digital settled its Luna token investigation with the NY Attorney General for $200m.

🌍 Circle has hired JP Morgan and Citi as it publicly filed for an IPO.

🌍 Flowdesk has joined the Canton Network.

🌍 Three US states are no longer suing Coinbase over its staking services

🌍 Fidelity Investments has launched a IRA that allows investments into crypto.

🌍 Zodia partnered with exchange ByBit to offer off-exchange settlement.

🌍 Crypto prime broker Hidden Road has received inbound takeover talks.

🌍 The House Financial Services Committee released a full draft of its Stable Act.

Traditional Banking 🏦

🇪🇺 UniCredit launches a tender offer for rival Banco BPM.

🇪🇺 Deutsche Bank signed Apple as a customer for its Request to Pay solution.

Fintech Infrastructure 🚧

🇪🇺 Payment services provider Mollie selected Ivy to power its own account-to-account payment solution.

🇬🇧 Investment platform PrimaryBid is in talks over a sale.

🇬🇧 Core banking provider 10x is in talks about a potential sale.

🇬🇧 Embedded banking and payments provider ClearBank signed digital asset exchange Kraken as a customer.

🇬🇧 Open banking platform TrueLayer signed Papa Johns as a customer for its Pay by Bank solution.

🌍 Card issuer Marqeta has signed Ingo Payments as a customer.

🌍 Open banking platform Salt Edge has partnered with engagement banking solution Backbase.

🌍 Card issuing platform Highnote integrated Feedzai to incorporate fraud prevention into it acquiring business.

Payments 💰

🇪🇺 Klarna signed a partnership with Eurostar to enable new payment options for travellers.

🇬🇧 PayPal is launching an advertising platform in the UK based on its customer data.

🇬🇧 The PSR has proposed remedies after its card scheme consultation.

🌍 Visa is rumoured to have offered Apple $100m to switch the card network from Mastercard of its credit card.

🌍 Cross-border transfer solution MoneyGram has integrated with Mastercard Move.

🌍 US payment provider Stripe has had its MALPB bank charter accepted in Georgia.

Longer reads/listens 📜

• Vertical AI: beware what you wrap - Matt Brown
• Visa's infinite runway - Jevgenijs Kazanins
• Marqeta: The Future of Self-Service Fintech Innovation? - Jas Shah, This Week in Fintech

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See you next week!