BlackFin Tech Weekly — August 31st
Dear Fintech friends,
We hope you’re all doing well and staying safe. It’s back to school week in France! After a few months of home schooling and then the summer holidays, it’s finally time for students to head back to school!
Last week, only €25m were raised across eight deals. The Germany-based Element led the list, with a €10m Series A extension announcement.
Geography-wise, this week was quite diversified: the UK and Germany have two deals each, and there is one Anglo-German deal, one Swedish deal, one Belgian deal and one Spanish deal: Elma.
Sub-industry wise, this week was dominated by Insurtechs and Banktechs with three deals each. Finally, the Payments and Investment Banking industries were also present, with one deal each.
Let’s dive in:
This week on show:
WeGroup raised a €3m Seed round:
- WeGroup is a Belgian insurtech founded in 2017 that provides a white label B2B2C platform to bring automation and digitisation to the insurance industry.
- Truffle Capital and Seeder Fund participated in the round.
- The funds will be used to grow the team and for international expansion. They are looking to develop their activities in France, starting with the opening of a Paris office.
- France was chosen for its similarities in terms of distribution channels, language and compliance to Belgium.
- The insurtech had already raised €1.5m in a pre-seed funding in 2018.
Br-dge closes a £2.5m Venture Round:
- Based in Edinburgh, Br-dge is a payments orchestration platform, that was founded in 2018.
- It offers its service to eCommerce entreprises, providing an integration allowing to add or remove payment options without additional technical work.
- Gloag Investment Group participated in the round, an Edinburgh-based investment firm.
- The funds will be used for product development and innovation, and to continue growing the company in the UK.
Congratulations also to Open Payments, Immo Investment Technologies, Bonify, and Fronted!
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, stay masked!
