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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.

🇪🇺 The EIB is to boost funding for EU fintechs through an extension of European Tech Champions initiative.

🇪🇺 Fundraising solution Kriptown raised a €4.2m Series A from Bpifrance and BNP Paribas.

🇪🇺 Public market research solution Quartr raised a $5.9m round from Altos Ventures.

🇬🇧 Treasury platform Round Treasury raised a $2.1m pre-seed round led by Passion Capital and included Simon Taylor, Ascension, Samos Investments and more.

🌍 Neobank Mercury has secured a $100m credit warehouse with Natixis to scale its credit card business.

Challenger Banking 🚀

🇬🇧 Digital wallet Curve has increased fee-free spending limit to £100,000 and added 1% cashback on international spend.

🇬🇧 Experian has partnered with Paylink and Oakbrook to bring debt consolidation loans to UK consumers.

🇬🇧 Revolut, Modulr and Chase have signed up to 159 short-code phone service, allowing UK consumers to directly call their bank when worried about potential scams.

🇬🇧 Revolut is to offer its business customers the option to accept American Express cards. It is also seeking a banking licence in Colombia.

🇬🇧 Neobank Pockit has acquired financially troubled Monese.

🇬🇧 SaaS finance gateway Lemon has partnered with Shawbrook Bank to launch a lending product to allow SaaS providers to be paid upfront for annual or multi-year subscriptions whilst offering customers monthly repayments.

🇬🇧 Monzo employees have the opportunity to take part in a secondary sale that values the bank at £4.5bn.

🌍 LendingClub and Pagaya are to acquire the assets of recently dissolved Tally.

Digital Assets ₿

🇪🇺Digital securities platform Assetera and exchange Archax have partnered to offer access to tokenized RWA in Europe.

🇬🇧Crypto payment firm BCB was subject to an FCA investigation.

🇬🇧 Revolut prevented $13.5m in crypto losses with enhanced fraud protection.

🌍 21Shares has formed a strategic partnership with Crypto.com to enhance crypto liquidity.

🌍 UAE has exempted crypto transactions from VAT.

🌍 Crypto.com has sued the SEC after receiving a Wells notice.

🌍 Ripple launches new transaction screening, HSM options and tokenziation and policy frameworks to its custody product. It also filed a cross-appeal as part of its case with the SEC.

🌍 FTX has its reorganisation plan approved.

🌍 State Street is working on a tokenised bond and money market fund.

🌍 Stripe has reinstated crypto payments for US businesses using USDC on Ethereum, Solana and Polygon.

🌍 Ethena is to invest its $46m backup fund in tokenized money market fund BUIDL, Mountain's USDM, Superstate's USTB and USDS from Sky.

🌍 Crypto exchange OKX has gone live in UAE.

Traditional Banking 🏦

🇪🇺 ABN Amro has introduced a tool in its app that tells consumers if an incoming call is actually from the bank,

🇬🇧 TSB was fined £11m by the FCA for "woeful" systems and staff incentive schemes.

🇬🇧 HSBC is cutting managers to save $300m.

🌍 TD Bank was fined $3bn for AML violations.

Fintech Infrastructure 🚧

🇪🇺 Regtech provider Corlytic is expanding to the US.

🇪🇺 Germany is to develop a digital identity wallet.

🇬🇧 Coreless bank platform XYB is working with IBM.

🇬🇧 Payment provider GoCardless has renewed its contract with Moneybox.

🇬🇧 Ozone API has become an official banking provider of OBL.

🌍 CRA Experian has acquired ClearSale for $350m to expand its footprint in Brazil.

🌍 Open banking platform Plaid introduced a Pay-by-bank solution for recurring payments.

🌍 Treasury Prime has integrated with ComplyCo to provide more regulatory oversight to banks.

🌍 Restaurant payment provider Toast has increased its processing fees and has enabled its clients to add surcharges onto customers bills.

Payments 💰

🇪🇺 Klarna and Danske Bank have partnered to allow the banks corporate customer to make recurring payments via Swish. The board of the BNPL provider is also removing a close ally of of the firms co-founder.

🇬🇧 Payment acceptance fintech Cashflows is bringing Mastercard's Click to Pay to UK businesses.

🇬🇧 Payment provider Checkout.com has become the first PSP to launch Octopus, a leading payment method for online payments in Hong Kong.

🇬🇧 A2A provider Banked has acquired Australian competitor Waave.

🇬🇧 Payment provider SumUp has partnered with accounting provider Xero.

🌍 Closed loop digital wallet solution Ansa has partnered with Plaid to add Pay-by-Bank for its customers.

🌍 Payment provider Stripe unveiled new features including more multi-processor support for Billing and Radar.

Longer reads/listens 📜

• Navigating APP Fraud: How Fraudsters Are Targeting The UK! - Kartik Dabbiru
• Why Walmart is doing Pay by Bank and The next big Fintech Ecosystem will be MENA - Simon Taylor
• Europe's Local Card Schemes on a Steady Decline - Flagship Advisory
• How North Korea Infiltrated the Crypto Industry - CoinDesk
• Fastlane Update – Autofill for Everyone? - Tom Noyes
• The Great €3 Billion Shipping Container Heist

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See you next week!