Best wishes from Team FinTech Forum for a successful 2018! FinTech deals were alive and kicking in the last few weeks in Continental Europe, so we are back from the break with a round up of the key news you may have missed.
Also note: Money2020 Europe, Europe’s biggest #FinTech event is moving to #Amsterdam this year! Save an extra €200 off your #M2020Eu ticket using our code 18FIFO. Book now http://ow.ly/FRag30hfhZu
Germany’s Smava raises $65M to expand its consumer loan portal
Smava, a German startup that has built a marketplace/portal for people to search for and take out loans, has raised $65 million to grow its business across Europe. The funding comes from Vitruvian, a UK-based private equity firm that had also funded Skyscanner (a vertical search giant in the travel industry, now owned by Ctrip) and last June announced the close of a new, €2.4 billion fund, with participation also from previous backer Runa Capital and others.
https://techcrunch.com/2018/01/08/germanys-smava-raises-65m-to-expand-its-consumer-loan-portal/
PayPal backs pan-European savings deposit marketplace Raisin
Raisin, the savings deposit marketplace that lets you shop for a better interest rate across Europe, has picked up backing from PayPal. Described as a “strategic investment,” the new funding round remains undisclosed. The Berlin-based company had previously raised a total of €60 million from various backers, including Thrive Capital, Ribbit Capital, and Index Ventures.
https://techcrunch.com/2017/12/19/paypal-backs-raisin/
Cardlay Secures $5M USD in Funding
Cardlay, an Odense, Denmark-based fintech company, secured $5M in funding.
Backers included Seed Capital and SEB Venture Capital as well as Thorleif Krarup, Klaus Holse, Jørgen Bardenfleth and Herbert Nathan. The company intends to use the funds to execute their internationalization and cooperation with international banks.
http://www.finsmes.com/2018/01/cardlay-secures-5m-usd-in-funding.html
Congratulations to Cardlay, an alumni of FinTech Forum On Tour events “FinTech meets Travel” (Sep. 2016) and “FinTech meets Telecom” (Mar. 2017).
Santander Bank takes 10% stake in Hamburg-based payever
Die Santander Bank ist beim Hamburger Paymentdienst payever eingestiegen. Mit der Santander Consumer Bank war payever zuvor bereits partnerschaftlich verbunden. Die Santander Bank hält nun 10 % an payever.
https://www.deutsche-startups.de/2018/01/08/santander-bank-steigt-bei-hamburger-paymentdienst-ein/
Zürcher Kantonalbank and Contovista launch the Online Financial Assistant for SMEs
Zürcher Kantonalbank and Swiss FinTech Startup Contovista developed the Business Finance Manager for SMEs. The Online Financial Assistant provides an easy to understand overview of all bank transactions enabling SMEs to quickly analyse their cashflow situations.
Congratulations to Contovista, an alumnus of the 9th FinTech Forum (Sep. 2017). Also read: 7 Questions with Gian Reto à Porta of Contovista.
FinTech Naga raises €42mn in one of the biggest ICOs in Germany
Mit einem Facebook für Börsenhändler will das Fintech Naga sich einen Platz am Markt erkämpfen. Bei einem ICO nahm das Hamburger Startup nun über 42 Millionen Euro ein. Naga entwickelt Mobile- und Web-Anwendungen wie zum Beispiel SwipeStox, ein soziales Netzwerk für den Börsenhandel.
https://www.gruenderszene.de/allgemein/naga-coin-ico-42-millionen-euro
Crypto Finance raises €13mn, applies for Swiss banking licence
Virtual currency investment firm Crypto Finance has closed a EUR13 million capital raise to fund an application for a Swiss banking licence. The EUR13 million round in Crypto Finance was raised from a group of Swiss angel investors, including former banker Rainer-Marc Frey and asset management whiz Dr. Philipp Cottier, who joins the Crypto Finance board.
https://www.finextra.com/newsarticle/31478/crypto-finance-applies-for-swiss-banking-licence
ICO and €1.5mn investment for Savedroid
Im Rahmen einer zweiten Finanzierungsrunde im April 2017 wurde das Frankfurter FinTech mit 20 Millionen bewertet. Nun ist noch einmal frisches Geld in die App geflossen. Einer der Investoren ist Alfred Schorno vom erfolgreichen FinTech-Startups 360T, das 2015 für 725 Millionen Euro an die Deutsche Börseverkauft wurde.
https://www.gruenderszene.de/allgemein/savedroid-finanzierung-ico-krypto
Finiata Closes €18M Financing Round
Finiata, a SME lending platform provider, secured €18m in funding.
Out of the total amount, €10m were invested by existing backers Redalpine, DN Capital, Point Nine and Fly Ventures and new shareholders ENERN and Kulczyk Investments. An additional €8 million has been raised in the form of debt financing.
http://www.finsmes.com/2017/12/finiata-closes-e18m-financing-round.html
Billie Raises €10M in Series A Funding
Billie, a Berlin, Germany-based factoring startup, raised €10m in Series A funding. The round was led by Creandum with participation from existing investors Rocket Internet, Speedinvest, Avala Capital and Picus Capital.
The company intends to use the funds to continue to develop the platform and expand its business reach.
http://www.finsmes.com/2017/12/billie-raises-e10m-in-series-a-funding.html
Bima Raises US$107M Financing
Bima, a Stockholm, Sweden-based micro-insurance provider in emerging markets, raised a US$107m financing including a US$30m growth round.
The financing was led by a US$96.6m investment from Allianz X, the digital investment unit of the Allianz Group, with participation from Kinnevik, Bima’s lead shareholder.
http://www.finsmes.com/2017/12/bima-raises-us107m-financing.html
SingularityNET Raises $36M in Public Token Sale
SingularityNET, a Switzerland-based decentralized marketplace for AI, raised $36m in its public token sale.
In less than 60 seconds after opening the sale to the public, the company sold out the whole amount of available tokens (the AGI token).
http://www.finsmes.com/2017/12/singularitynet-raises-36m-in-public-token-sale.html
Data acceleration startup Swarm64 raises $12.5 million in Series B financing
Swarm64, a provider of the scalable data accelerator (SDA), which enables relational databases to perform real-time big data analytics, has secured a Series B funding round of $12.5 million. The funding round was led by Intel Capital and Investinor, while previous investors Alliance Venture and Target Partners also participated in the round.
Scalable Capital Launches in Switzerland
Scalable Capital is saying, “Gruetzi mittenand” to Switzerland today. The U.K.-based robo advisor has launched its services in Switzerland, the fourth country to which Scalable Capital has expanded, following launches in U.K., Germany, and Austria.
http://www.bankingtech.com/2018/01/scalable-capital-launches-in-switzerland/
Bitcoin Gains on Report Peter Thiel Makes Bet on Cryptocurrency
Bitcoin is getting a boost from a report that billionaire Peter Thiel is making a big bet on cryptocurrency. Founders Fund, the venture-capital firm co-founded by Thiel, has amassed hundreds of millions of dollars of bitcoin, the Wall Street Journal reported Tuesday, citing unnamed people familiar with the matter.
https://www.bloomberg.com/news/articles/2018-01-02/bitcoin-gains-on-report-peter-thiel-makes-bet-on-cryptocurrency
Banking Giants Step Up Pre-Brexit Frankfurt Hires
Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley are on a hiring drive in Frankfurt as global investment banks race to establish new headquarters inside the European Union in time for Brexit.