BlackFin Tech Weekly — January 27th

Michele Foradori
Jan 27 · 3 min read

After a bit of trouble getting started, the 2020 fintech business is rolling as we are used to! This week 2 megadeals in France and Sweden. Congrats, Tink and Qonto!

8 start-ups have announced their aucap. In total, more than 235 million euros have been raised during the past week, of which 90% represented by the 2 deals mentioned above.
Banktech is the most represented category and accounts for half of the deals. Regtech is doing well with two small Series A and seed rounds, followed by a payment-tech deal and a wealth management deal. Five out of eight deals are British this time.

Made with ❤ by BlackFin Tech

Let’s dig deeper in Qonto’s “wow” round:

  • The challenger B2B neobank has secured 65.000 SMEs and freelancers since its creation in 2017. What an exploit! They have started their geographical expansion in Spain, Germany and Italy last summer.
  • Just a few days after Lydia’s huge round last week, Tencent invests a second time in an impressive French startup: the Series C amounts to 115 millions dollars.
  • They want to address a population with very specific needs that has been poorly addressed before. For SMEs, freelancers and gig workers, Qonto provides what Revolut provides to consumers. A bank account that makes sense and it takes 5 minutes to open; a modern user experience to help you manage banking tasks; and much more. They have developed their own core banking system and now intend to further develop other features to attract more and more users, planning to double down on its existing markets!

The second biggest investment is Swedish: congrats to Tink for its amazing €90m venture round! The cloud-based platform provides the infrastructure and data products such as account aggregation, payment initiation, data enrichment or PFM to be integrated into banking applications.

  • Less than a year after its previous round or 56 million euros, the open banking platform gathered Dawn Capital, HMI Capital and Insight Partners as new investors and its existing ones, namely Heartcore Capital, ABN AMRO Ventures, BNP Paribas and Opera Tech Ventures.
  • The company, launched in 2013, has known an impressive FTEs growth last year, doubling down from 120 to 300 employees.
  • Fun fact, Tink was born as a B2C PFM
  • Plaid, its American peer, recently acquired by Visa for 5.3 billion dollars, surely contributed to increasing the Hype around the European API king.

Congratulations also to the brave founders of Liberis Group, Trussle, WealthKernel, Autenti, SteadyPay and Feedstock!

//And what else?

  • In view of the Paris Fintech Forum, we gathered all our energy with France Fintech to release our yearly panorama, have a look at our work! And next week, a part of the team will be there to meet you!
  • 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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