BlackFin Tech Weekly — February 10th 2020

Michele Foradori
Feb 10 · 3 min read

Hello fintech enthusiasts!

In the following of the Paris Fintech Forum, some European start-ups rode the wave of this amazing event to announce their rounds. French ones must have given the best of themselves last week to show us their passion, and then take some well-deserved holidays in advance: no French round this week!

However, fundraising activity is doing well: 8 European deals have been disclosed this with a total amount of €210 million. Among them 5 are British; main sectors: banktech, regtech, insurtech and wealth management!

The European landscape is also well represented by Swedish, Spanish and German deals. Congratulations to you all!

And let’s have a look at this last week round show:

Made with ❤ by BlackFin Tech

This week on show are 3 inspiring fintechs.

First, did you see Klarna’s huge round?

  • As you must know, Klarna is an e-commerce payment solution platform and unicorn for merchants and shoppers. Thanks to the solution, users can buy goods on retail partners websites with instalments and no fees if they pay on time.
  • It was founded in 2005 in Sweden and increased tremendously to 2.500 employees now, reaching a $5.5bn valuation! Today, Klarna works with more than 170.000 merchants in 17 different core markets.
  • This week, they raised 200 million dollars from the Commonwealth Bank of Australia which had already invested 100 million dollars in the company. Such an investment will make Klarna available via the CommBank mobile app and help develop the activity in Australia and New Zealand.

Second, Rimilia has raised $15m with Eight Roads Ventures, Kennet Partners and Silicon Valley Bank. Let’s go a bit further:

  • Founded in 2008, Rimilia has developed a SaaS platform for financial services, that provides tools to automate cash and credit management, reduce bad debt provisions and produce information based on artificial intelligence.
  • A few months ago, the company launched a new automated platform called Financial Relationship Management, a mix of CRM and ERP software that gives financial teams a real-time view of customers.
  • Rimilia’s clients now include companies such as Avis, Hitachi, Santander and Travis Perkins, who have completed more than 12 million transactions and automated the collection and allocation of $150 billion in 2019 alone!
  • The goal of this round is to finance its expansion in Europe and North America.

And finally, Laka:

  • This bicycle insurance company is based in London and has developed a community-based approach to insurance initially focused on the cycling market: its first product ensures bicycles and bicycle equipment against theft or damage and its products are now used by over 5,000 cyclists across the UK.
  • The company intends to use the funds to accelerate the upcoming launch in the Netherlands in the first half of 2020, which it will use as a springboard to roll out its product across Europe and beyond, to further develop its product range, which will include individual accident cover tailored to the cycling community.

Let’s tip our hat to the brave founders of Cybertonica, Griffin, The Crowd Angel, Receeve, and Payescape!

//And what else?

  • For the Paris Fintech Forum, we gathered all our energy with France Fintech to release our yearly panorama, have a look at our work!
  • And did you read about our fintech predictions for 2020?
  • 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!

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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