BlackFin Tech Weekly — August 24th
Dear Fintech friends,
We’re back! We hope you enjoyed your summer holidays and that you’re ready to get back to work! We certainly are!
A few deals were disclosed while we were away! Over €100m in funding divided over 9 deals was announced during these past two weeks.
Once again, the British have the most deals, with 4 out of the 9 deals, including the top one: Habito. But Spain was close behind with 3 deals. Germany and Estonia were also present with one deal each!
Sub-industry wise, it was quite diversified, with three banktechs, three companies in the payments industry, one regtech, one insurtech and one start-up in the investment banking sector: Evoestate.
Let’s dive in!
This week on show:
Form3 closes a $33m Series C:
- Form3 is a London-based fintech that offers cloud-native payment technology to address payment infrastructure challenges. Its clients are financial institutions as well as other fintech companies.
- Founded in 2016, the company completed a $13m Series B round in 2018. Since then, the fintech has tripled in size, increased its ARR by 160%, and opened a regional hub in Amsterdam.
- New investors Lloyds Banking Group, Nationwide Building Society and 83North participated in the round, with also Draper Esprit, an existing investor, joining in.
- As a result, Lloyds Banking Group and Nationwide Building will implement Form3’s solutions.
- The funds will be used for product development and geographical expansion.
Vitesse, a British fintech, secures £6.6m in a Series A funding round:
- Vitesse is a London-based start-up that offers instant cross-border payments for businesses.
- It was founded in 2014, and provides access to the local payment networks of over 100 countries and in more than 60 currencies. Until now, it has processed more than £2.1bn in over 2.3m transactions.
- The fintech targets businesses in the insurance, payroll and corporate payments industries.
- Octopus Ventures led the round, with participation from Hoxton Ventures and other business angels.
- The new funds will be used to grow its sales and marketing teams, and expand in the US. The investment will also go towards developing its banking capabilities in order to meet customer demand.
Hammock raises £1m seed from Fuel Ventures and Ascension Ventures:
- Hammock is a British neobank built for landlords. Its platform provides real-time view of the rental properties, and tracks payments and expenses. It also offers reporting on each flat/house.
- The company used to operate thanks to Open Banking, connecting to the landlord’s different accounts, but it is now also launching a current account service, in order to expand into lending services.
- The fintech is targeting the UK’s 2 million landlords.
Congratulations also to Lana, Claimsforce, Fuell and Pibisi!
See you next week!
//And what else?
- Have a look on our medium article about our investment in Ravelin!
- Have a look at our Linkedin page to have some insights about our portfolio their recruitment, our events and the activity of the team!
- And if you wish to receive BlackFin Tech posts straight into your inbox and stay updated, click here and if you just want to browse our website to get to know us better, head over to blackfin-tech.com!
- Stay safe!
