BlackFin Tech Weekly June 22nd
Dear fintech lovers,
I hope that you’re doing fine! Today is the first day kids are going back to school in France! Parents who spent the whole lockdown at home with their kids can finally rest a bit!
Almost €250m have been raised by European fintechs this week, through 7 deals!
Deal origin wise, last week was led, as usual, by the UK with 4 deals, including Checkout.com with a huge fundraising of $150m. A German start up, a Spanish one, an Estonian one and a French one: Quarkslab also knew the joy of fundraising this week. Congratulations to all of you guys!
This week, almost every sector of the fintech industry is represented! Banktech has been the most active one with 4 deals out of 7, but there are also one insurtech, one accountingtech, one regtech and one payment start up.
- Checkout.com just announced a $150 million Series B led by Coatue alongside existing investors, just a year after a first financing round of $230m.
- With this operation, the start-up becomes one of the most highly valued fintech in the world, since this round of financing brings its valuation to $5.5bn.
- Those funds will be used to “ strengthen its balance sheet” and finance “the development of innovative new products, including its next-generation payment solution and the ability to reduce payment delays”.
- The UK neo bank has announced a £60m fundraising, at a valuation of £1.25 billions, which is a 40% discount on its previous announced valuation of £2 billions, probably due to the current economic situation.
- Those funds have been provided to Monzo by current investors alongside Swiss funds Reference Capital and Vanderbilt University.
- Monzo remains the fastest growing app-only bank in the UK, with some four million customers on the books, but the Covid crisis forced them to cut jobs and furlough jobs.
- Planet 42, an Estonian banktech that focuses on providing access to mobility to the underbanked in Africa, has raised a €2.2M Seed, led by Change Ventures.
- Those funds should be used to expand its portfolio of vehicles. So far, they have rent 2 000 cars in Africa, but they target a total of 100,000 cars by 2024 in South Africa alone.
Congratulations also to TransferGo, SingularCover, Coconut and tillhub!
//And what else?
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