BlackFin Tech weekly
Hello everyone, I guess founders and VCs alike are still scrambling to strike deals before the summer break because last week saw another € 100m being poured into the European fintech & insurtech ecosystems across 12 deals. While the largest round last week was landed by French SME lender Lendix with its € 32m round, Germany attracted the most capital with roughly € 55m invested in local fintechs and insurtechs but it was the UK which saw the most deals take place. A truly European week it seems!
- Lendix, the largest SME crowdfunding platform in France just raised a large round with a view to aggressively expand into new countries. Already present in France, Spain and Italy, the company is looking to add 2 other countries by year’s end as well as 2 additional ones in 2019. To sustain this development, three new investors joined the captable: Idinvest Partners, Allianz SE and a family office from Italy, CIR SpA.
- Coya, an insurtech out Berlin is the runner-up in terms of funds raised this week with a € 25m round led by existing investors Peter Thiel’s Valar Ventures and e.ventures. The company is still waiting for its BaFin license agreement but we assume they’re now ready :)
- StocardApp raised a new round of $ 20m from PE fund Macquarie Capital. The app lets you aggregate all your loyalty programs and has managed to convince 25m across the world already.
- Third German fintech having raised € 10m or more last week, Fincompare enables SMEs to find the right source of financing. New investor Uniqa led the round alongside Speedinvest and the venture arm of ING Group.
- Molo Finance is next in line with a significant seed round from Ubon partners to digitize the mortgage subscription process.
- Meniga, a personal finance manager out of London, raised an additional $ 3.6m for its series C with Unicredit. It had already raised € 3m from Swedbank in April.
- MiiMOSA is a crowdfunding platform dedicated to agrifood projects. They raised € 3m from a wide variety of backers including an asset manager (Amundi), a bank (Crédit Agricole S.A.), a consultancy (Weave), a large agrifood corporate (Invivo) and an impact fund (Phitrust) to launch crowdlending activities.
- Multiply has raised a £ 1.75m seed round of financing to launch its AI-based version of a financial advisor targeting the retail market. Backers include Octopus Ventures, Entrepreneur First, Portag3 and business angels.
- Billon is a blockchain-based payment solution located in Poland and the UK. They raised € 1.5m from the Polish National Center for R&D to bring their product to market.
- Laka has just raised a seed round to make insurance more social. Starting with high-value bikes (some of these cuties cost quite a bit of money!), the company has secured the backing of Tune Protect Group and 500 Startups.
- Marshmallow is setting out to help foreigners who are moving to the UK get car insurance at an affordable price. They raised a seed round from Passion Capital and Investec.
- Carl Finance aims to digitize M&A processes. As many SMEs in Germany need to find themselve their next CEO, there is a surge in small- and midcap M&A to be expected over the coming years. Carl wants to make sure the German Mittelstand keeps being as productive as ever and has therefore raised an undisclosed amount from various prominent German business angels.
Well, that’s all for this week folks. Congratulations to all the great teams behind these ambitious projects!!!
And if you’ve noticed we missed someone, feel free to let us know in the comment section, thanks!
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