We are back after a short hiatus, talking to several startups in our network as they figure their way around the current crisis. Market sentiments range from a complete lockup of money, to the impact varying based on FinTech sub-sectors or business models, as well as whether the investors have long-term, institutional capital at their disposal. Last week’s webinars by FT Partners and Sifted / Dealroom offered a good feel of the market on both sides of the Atlantic. Investments have slowed down, but expect announcements to continue as investors prioritise and close deals that were already in flight and where the markets or valuations are not expected to be hit hard by the crisis.
If you are in the midst of a funding round, or would like to understand how to proceed in the current market situation, feel free to reach out to us. A good starting point is Investor wisdom for startups.
Call for startups: apply to pitch at the 12th FinTech Forum, 19th Nov. 2020 in Frankfurt – email contact (at) fintechforum.de or reach out to either us via LinkedIn: Frank Schwab or Samarth Shekhar. Investors & corporates: register here directly http://ftf12.eventbrite.com
8 factors why crypto currencies are here to stay- from our Think-Tank
User numbers and investments in cryptocurrencies and blockchain projects are increasing. In the Swiss Crypto Valley, 800 companies with 4000 employees are working on the digitalization of assets. The regulators are also taking up the issue. In the digital age, cryptocurrencies are the next logical stage in the development of money.
http://www.fintechforum.de/8-factors-why-crypto-currencies-are-here-to-stay/
Coverd raises €1.2 million to insure our beloved smartphones
Paris-based Coverd, an insurtech specialising in smartphone coverage, has just completed its first fundraising round of €1.2 million with several private investors, including the French investment fund Newfund. Coverd will use these fresh funds to boost its position and become a leader of mobile insurance in France. In a market where insurance covers users from the date of purchase, Coverd is one of the only French insurtechs capable of protecting a ‘post-purchase’ smartphone.
https://www.eu-startups.com/2020/03/coverd-raises-e1-2-million-to-insure-our-beloved-smartphones/
Bulgarian FinTech phyre raises €1.55 mn to boost its e-wallet platform
Bulgaria-based FinTech phyre has secured a funding of €1.55 million in a funding round led by VC fund, New Vision 3 Fund along with private investors and the Bulgarian American Credit Bank. The capital raised is expected to strengthen the development and deployment of its banking and payment e-wallet platform. It will also enable the FinTech to provide a business model combining SaaS, PaaS and BaaS and offer value-added products along with it.
https://ibsintelligence.com/ibs-journal/ibs-news/bulgarian-fintech-phyre-raises-e1-55-mn-to-boost-its-e-wallet-platform/
Lanistar Raises £2M in Seed Funding
Lanistar, a London, UK-based new banking alternative fintech company, secured £2m in seed funding. The round was raised through private financing and family contributions. Founded in 2019 by serial entrepreneur Gurhan Kiziloz, Lanistar is a banking alternative that is developing a new debit card product, mainly focused on the 18-35 market, which aims to allow customers to streamline their money through technology.
http://www.finsmes.com/2020/03/lanistar-raises-2m-in-seed-funding.html
Eigen Technologies Raises $5M from ING
Eigen Technologies, a London, UK-based provider of a natural language processing technology solution, completed a $5m (€4.5m/£4m) funding round.
ING Ventures followed on from its $37m (£29m) Series B round in November 2019. This brings the total funds raised by Eigen in its Series B round to $42m, and brings the overall funds raised to over $60m.
http://www.finsmes.com/2020/03/eigen-technologies-raises-5m-from-ing.html
UK Fintech VoxSmart Raises £5.5 Million Through Strategic Investment Round From Natwest
VoxSmart, a UK-based fintech that’s focused on communication surveillance technology for financial markets, announced on Thursday it raised £5.5 million through its latest investment round, from Natwest. Founded in 2006, VoxSmart describes itself as a global telecommunications software provider and that empowers organizers to “unlock the power of mobility” while achieving regulatory and internal compliance by recording all mobile communications on any network.
https://www.crowdfundinsider.com/2020/03/159358-uk-fintech-voxsmart-raises-5-5-million-through-strategic-investment-round-from-natwest/
DataGuard Raises $20M in Funding
DataGuard, a Munich, Germany-based privacy and compliance software company, raised $20m in funding. London, UK-based One Peak made the investment. Co-founded in November 2017 by Thomas Regier and Kivanc Semen, DataGuard provides a Privacy-as-a-Service solution that enables customers to become and remain compliant with privacy regulation such as GDPR.
http://www.finsmes.com/2020/03/dataguard-raises-20m-in-funding.html
Open Banking: Tink Acquires Eurobits Technologies for €15.5 million
Tink has acquired Eurobits Technologies, a provider of account aggregation services working with various banks and Fintechs. Current clients are said to include BBVA, Santander, La Banque Postale, and others. The purchase of Eurobits is expected to strengthen Tink’s bank connectivity coverage and buttress its position in Southern Europe. Tink raised €90 million at the beginning of this year boosting its war chest. Tink paid €15.5 million for the Fintech.
NOAH Conference, Berlin, 4-5 Jun. 2020 https://www.noah-conference.com/noah-berlin-conference-2020/
FinTech Junction, Tel Aviv, 1 Jul. 2020 https://www.fintechjunction.com
Swiss FinTech Fair, Zürich, 8 Sep. 2020 https://www.swissfintechfair.com
Money2020 Europe, Amsterdam, 22-24 Sep. 2020 https://europe.money2020.com
Bank+FinTech EFMA, Madrid, 21-23 Oct. 2020 https://www.efma.com/conference/748-bank-fintech-2020
Digital Insurance Agenda, Amsterdam, 28-29 Oct. 2020 https://next.digitalinsuranceagenda.com/dia-amsterdam-2020/want-to-attend/
MoneyConf / WebSummit, Lisbon, 2-5 Nov. 2020 https://websummit.com/moneyconf
12th FinTech Forum, Frankfurt, 19th Nov. 2020 http://www.fintechforum.de/events/