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.

🌍 Digital lending solution Amount raised $30m.

🌍 Payment solution Revenew raised $4.55m led by Fika Ventures.

₿ Israeli blockchain risk management platform Chaos Labs raised a $55m Series A led by Haun Ventures.

Challenger Banking 🚀

🇬🇧 Neobank Revolut hit a $45bn valuation with its recent secondary share sale.

🇬🇧 Starling have started to hire for a head of investor relations as they move towards a potential IPO.

🇬🇧 Money comparison platform MoneyRepublic launched in the UK.

🌍 Nubank has reported strong growth in Mexico, with 8 million customers and $3.3bn in deposits in a year since launching in the country.

Digital Assets ₿

🇪🇺 BitPanda is to provide the infrastructure for a digital asset platform for Rakbank in UAE. It also partnered with crypto broker Coinmotion to provide access to digital assets in the Nordics.

🇬🇧 Crypto index fund manager Bitwise has acquired crypto ETP issuer ETC Group.

🌍 USDC issuer Circle has developed new features to enable contactless payments using its stablecoins on iPhones.

🌍 Crypto exchange Bitso has partnered with Coincover to support digital asset security.

🌍 US tradfi giant State Street has selected Taurus as the infrastructure provider for tokenization and digital custody.

🌍 Crypto exchange BitGet has added Apple Pay and Google Pay as payment solutions for its fiat to crypto onramp.

🌍 Mercado Pago, the fintech unit of Mercado Libra, has launched a dollar-backed stablecoin in Brazil.

🌍 Franklin Templeton has filed an S-1 for a Crypto Index ETF. It is also bringing its tokenized money market fund to Avalanche.

🌍 Tether is planning to launch a UAE dirham-pegged stablecoin.

Traditional Banking 🏦

🇪🇺 Deutsche Bank's Postbank settlement was rejected by the plaintiffs.

🇬🇧 HSBC is considering selling its South African business.

🇬🇧 NatWest launched a new Visa travel rewards credit card.

🌍 US Bank is accelerating its accounts receivable solution with Billtrust.

🌍 TD Bank has set aside $2.6bn for fines related to money laundering.

Fintech Infrastructure 🚧

🇪🇺 Neobroker infrastructure solution Upvest has partnered with Deutsche Bank to expand its product range which will include virtual IBANs, cash management solutions, payment processing and FX.

🌍 Payments infrastructure provider Treasury Prime added Ai-compliance solution Kobalt Labs to its network of partners.

Payments 💰

🇪🇺 Payment fraud in Europe reached €4.3bn in 2022 according to the EBA and ECB.

🇪🇺 Adyen has continued to sign customers in the US including Crate & Barrel and Fubo. Adyen has also expanded its partnership with PayPal to offer the latter's one-click checkout solution Fastlane in the US.

🇪🇺 Brazilian tourists in Spain and Portugal will soon be able to pay with Pix after a partnership between PagBrasil and Wipay.

🇪🇺 Klarna has acquired bankrupt New Zealand competitor Laybuy's assets.

🇪🇺 Swiss National Bank and SIX Interbank Clearing launched a new instant payment solution.

🌍 PayPal has integrated with payroll provider UKG to provide earned wage access.

🌍 BNPL provider Affirm is to provide payment options for consumers on Hotels.com.

🌍 Billing and AR fintech Received is closing down.

Longer reads/listens 📜

• AutoGPT Will Change Your Bank - Chris Nichols
• A Clash of Checkouts - Samir Desai
• Nate Silver Knows Who Will Win - David Freedlander, New York Magazine
• Palmer Luckey, American Vulcan - Tablet
• The Future of Finance Tech - Claire Feely, Nyca

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See you next week!