BlackFin Tech Weekly — December 9th

Michele Foradori
Dec 9, 2019 · 3 min read

We are back for our weekly digest of fintech and insurtech deals! And this week… God save the Queen! This week has been particularly marked by the prominence of UK deals in our list, with quite a large spectrum of subjects embraced. Nordics and Baltics are also represented by two deals, a Swedish and an Estonian, and France comes after with a seed round. In total, more than 303 million euros have been raised, however large part of it comes from a large debt and equity round, Hastee (see ⬇️).

Let’s not beat about the bush, and here is our fresh sum-up:

Made with ❤ by BlackFin Tech

Let’s deep dive a little on the biggest deals of the week. First, Hastee raised an impressive round made of £200m in debt and £8m in equity, with Umbra Capital and IDC Ventures. This sounds to be one of those non-market deal UK used us to…

  • The UK-based start-up defines itself as a provider of “wellbeing” solutions for workers, giving them immediate access to a portion of their salary on demand. Users can receive up to 50% of their gross pay for the work they did and can get their first withdrawal free of charge up to £100.
  • Hastee targets big enterprises willing to improve the financial services to their employees, with no impact on their cashflow or on their financial risk. London City Airport, Avery Care Homes, or Mitchell & Butlers are already one of their clients.
  • Employee benefits fintechs seem to have the wind in their sails: they are very interesting models of B2B2C. It helps employers provide financial services to their employees, either by salary or payday advance or by offering corporate pension plans, like ou latest investment, Epsor.

As far as payments are concerned, innovation is also gaining momentum! Rapyd raises (another) $20m, as an extension to its $100m Series C.

  • The fintech provides a unified cloud-based technology platform and a cardless payments aggregator integrating local and international payments from any commerce application. It allows the users to accept any payment across borders and currencies, to pay workers and vendors and to manage card programs globally
  • After its $40m Series B last February, and its fast and impressive $100m Series C in October, Durable Capital Partners’ first investment in the start-up push the total amount raised up to almost $180m.
  • Today, it competes with strong incumbents in this sector, namely Adyen, Paypal or Stripe, and with more than 50 businesses in its client base (e-commerce or gig marketplaces), it claims to be able to reach more than 4 billion customers with its local payment processing.

And let’s also tip our hat to the brave founders of Cuvva, Bankbi, Bokio, uncapped, salv, StudentFinance, and Listo !

Have a nice (fintechish) week!

//And what else?

  • Have a look at our Linkedin page to have some insights about our portfolio news & recruitment, our events, and activity!

BlackFin Tech

Thoughts and ideas on all things fintech & insurtech. Managed by BlackFin Tech, a € 180m independent European Fintech VC and its team

Michele Foradori

Written by

BlackFin Tech

Thoughts and ideas on all things fintech & insurtech. Managed by BlackFin Tech, a € 180m independent European Fintech VC and its team

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