BlackFin Tech Weekly June 15th
Hi fintech friends!
This week, we were very pleased to welcome a new recruit in our team. Jean Bertin (Linkedin) has a sound and solid background in Venture.
We are very proud and happy to have him in our team!
10 deals have been announced this week.
Deal origin wise, last week’s distribution is quite diversified with 6 countries represented, among which, one French startup: Monk. Then we have 3 British, 2 Belgian, 2 Swedish startups, one Spanish startup and…one Danish startup in which we invested: Likvido!! We are very happy to announce this deal we led.
This week, we can add more than €102m to the amount of capital raised by Fintechs and Insurtechs in 2020. Claps for these ventures!
Subsector wise, Bantech is the most represented with 5 deals out of 10. Then, there are two Payments startups, an Accountingtech: Silverfin, a Regtech: H4, and an Insurtech: Monk.
Let’s dive in:
- Codat, a London-based startup that connects small business data systems to banks, fintechs and other institutions, raised $10 million from Index Ventures to finance its expansion into the United States.
- The British startup facilitates the exchange of data between small businesses and financial institutions that help them obtain loans, insurance and other services. Codat consists of a single API that plugs into the software used by small businesses, allowing outside organizations to access the necessary accounting information in real time.
- Founded in 2017 by Lord, Alex Cardona (COO) and David Hoare (CTO), the start-up fintech received a £5 million grant from the Royal Bank of Scotland last year. The company says that through its 50 financial service providers, about 10,000 small businesses connect to the API every month.
- With the new funding, a New York office is being set up, and Index partner Jan Hammer and venture partner Stephane Kurgan will both join the company’s board of directors.
- Monk, which specializes in the detection of automobile damage through visual recognition, is raising €2.1 million in seed money in a round table led by Iris Capital, with the participation of several business angels such as Patrick Sayer, former CEO of Eurazeo, Yannis Yahiaoui, founder of Adot, and Arthur Waller, founder of PriceMatch and Pennylane.
- Founded in September 2019 by Aboubakr Laraki and Fayçal Slaoui, Monk is developing a solution capable of detecting damage on vehicles using artificial intelligence based on photos. The solution recognizes the different parts of the vehicle and automates expert appraisal tasks.
- At the same time, the technology developed by Monk is proving useful in the insurance sector since it allows automobile insurers to optimize the resources of their experts in terms of damage recognition.
- As part of this fund raising, the startup aims to strengthen its R&D efforts and to recruit new profiles, in particular data scientists and salespeople to get along in Europe.
Congratulations also to Trustly, iBanFirst, Teylor, Declarando and Apexx !
//And what else?
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