BlackFin Tech Weekly — February 15th

Hello Fintech folks! How did it get so cold out there? Europe is facing a freezing wave and from Paris to Berlin snow is everywhere, another reason to stay home cozy and safely!

European Fintech deals reached €78m across 9 deals last week. Congrats to Nothmill, winner of the week, raising $30m from M2 Asset Management and Coeli. Northmill is a Stockholm-based neobank created in 2006. Originally, it was a credit provider but the company secured a full banking license in 2019. Today, the company has 200 000 customers across Sweden, Norway and Finland.

Geography-wise, the UK wins back its leader position with 3 deals, followed by Spain with 2 deals. This week was actually quite diversified because there were also 1 deal in Sweden, 1 deal in France, 1 deal in Norway and 1 deal in Switzerland.

Subsector-wise, Banktech leads the week with 6 deals. There were also 1 deal in Payments, 1 deal in Wealth Management and 1 deal in Investment Banking.

Let’s dive in:

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Libeo raises €20m:

• Created in 2019, Libeo is a unique platform for SMEs to collect, manage and pay the invoices.
• The company raises this round from the partners of DST Global, Serena, Breega and LocalGlobe.
• Libeo already raised €6m: first, with a Seed round of €2m in November 2019 and then with a €4m round in April 2020. Overall, the company raised €26m.
• New funds will be used to accelerate the expansion of its platform across Europe and tripling the team to more than 100 employees.
• In 2020, B2B payments processed on its platform multiplied by 30 and reached €100m.

Trade Ledger raises £13.5m:

• Created in 2016, Trade Ledger is a Banking -as-a-service platform providing lending solutions to SMEs and the mid-market lending sector.
• This Series A was led by Point72 Ventures with participation from Foundation Capital, Court Lorenzini, Hambro Perks and other existing investors.
• Overall, the company raised £15m.
• The new funds will be used to grow out its sales, marketing and customer delivery teams and the CEO is looking to triple its customer base in 2021.

Congrats also to HUBX, Selma, Twinco Capital, Tillit, Payflow and Playter Pay.

Have a great week everyone, stay safe & keep powering on!

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