BlackFin Tech Weekly — February 8th
Dear fintech folks,
It has been quite a light week for the world of fintechs. Maybe it’s because everyone was way too busy on flipping their pancakes to celebrate Pancake day!
€40.9m were raised through 8 deals. Top fundraising award of the week is granted to Vortexa, the British energy intelligence provider who raised $19m Series B. Congrats !
Geography-wise, the UK accounts for 3 deals, while Germany made 2 deals. France, Switzerland and Spain made 1 deal each. Since the beginning of 2021, the UK seems to have less fintech deals than before (>50% usually), we are wondering if this trend will be confirmed over next weeks. Is the brexit or the covid responsible for this kind of new European balance?
Subsector-wise, last week was very diversified. There were 3 deals in Banktech, 2 deals in wealth management, 1 deal in payments, 1 in insurtech and 1 in investment banking.
Let’s see this in details :
Vortexa raised a $19m Series B:
- Founded in 2016 in the UK, Vortexa provides real-time information and analysis on crude oil and refined petroleum product flows.
- Notion Capital and Mosaic Ventures are participating in this round.
- With the new funds, the startup plans to further accelerate its international expansion and technology development.
Sis ID raised a €5m Series A:
- Created in 2016 and based in France, Sis ID has developed a collaborative platform designed for finance directors to collectively address the risk of bank transfer fraud.
- It has a network of more than 10,000 companies enabling the control of hundreds of thousands of bank details every month via its SaaS platform, which secures the payment details of third parties, customers and suppliers beyond the company’s borders. This payment database is unique, secure and shared in France and internationally.
- The fundraising was led by BpiFrance, Opera Tech Ventures and Aonia Ventures. The funds will enable Sis ID to strengthen its positioning in France and accelerate its international development, with an initial deployment planned in the United Kingdom and Spain.
Circula raised €4.3m :
- Launched in 2017 in Germany, Circula offers medium-sized companies with international operations a SaaS solution for digital travel and expense accounting. Thanks to the intuitive user interface and AI-based technologies, receipts can be processed in real time and digitally archived in compliance with the Business Travel Directive (GoBD) for the first time.
- However, this intial value proposition has been shifted in order to cope with the Covid-19 pandemic. Circula has moved the product from travel expenses to the broader area of expenses. They now process receipts for home office equipment or lunch expenses.
- This venture round was lead by Wenvest Capital, Capnamic Ventures and main incubator.
We would also like to mention Holded, a Spanish ERP we hesitated to label as a fintech. Holded’s €15m Series B round was led by Elaia, Lakestar and Nauta Capital.
Congratulations to Holded, Banxware, Wealtharc, tickr, DynaRisk and 2gether !
See you next week !
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