BlackFin Tech Weekly — October 28th

Your weekly curation of fintech and insurtech deals is almost totally driven by banktech and B2B services this week. With €66m raised, we noted UK was back alongside with Germany on the podium (scoring 2 deals each), Belgium and Spain arriving just after. It seems that the French fintechs are mourning after the terrible rugby defeat against the Welsh…

We gathered our hopeful minds to bring our special fintech deal curation to you though:

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This week on show:

• Starling Bank: the British neobank raised £30m with Merian Chrysalis and previous investor JTC Group, not long after their impressive previous round of £75m in February 2019. As of today, they already have 930.000 open accounts and want to take profit of this raise to reach one million users! They are developing many features to fit consumers' everyday needs: current, business and joint accounts, borrowing, money transfers… As they compete with N26 or Revolut, they will use this funding resources to prepare their international expansion.
• Thinksurance: the one insurtech on our list! We are talking about a German platform that connects all players in the value chain of insurance, into a large network of insurers, brokers, MGA, to distribute commercial lines more easily. They currently cover around 60 product ranges, in particular, property and liability insurances. They raised €13m with Eight Roads Ventures in their Series B, after their last round of €1.5m in September 2018. A huge gap, isn’t it?
• Myos: the German startup was previously called Amalendo (as long as it supports Amazon-related businesses). It provides an innovative working capital financing for e-merchants. They evaluate credit risk based on the sales potential of trading products, hence providing very fast financing and helping merchants to grow quickly, as they account inventory as collateral. They raised €10m with Mountain Partners, Berlin Technologie Holding and Avala Capital. In Germany, they compete for example with the younger Fulfin, which also offers growth financing for eCommerce retailers.

We also tip our hat to Look&Fin, Fundsfy and 3S Money Club for their nice Seed and Series A rounds!

Next week, almost all BlackFin team will be in London at Noah – see you there?