BlackFin Tech
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BlackFin Tech

BlackFin Tech Weekly June 29th

Hi fintech friends!

This week, another member is joining our team. Welcome to our new recruit Régis ! Very happy to see our team growing so fast!!

There are 11 deals that have been disclosed this week. And one of them is ours: Memo Bank! Do not hesitate to read our article about it.

Deal origin wise, last week’s distribution is rather diversified with 6 countries represented, among which, 4 French startups. Then we have 3 British Fintechs, a German one: Elucidate, an Hungarian one: Barion a Swedish one: insurello, and a Spanish one: HandCash.

More than €130m have been raised by European Fintechs this week. Good job for these ventures!

Subsector wise, Regtech is surprisingly the most represented with 4 deals out of 11. Then, there are 3 Banktechs, 2 Payments startups, one Wealth Management startup and one Insurtech.

Let’s dive in:

Swile (ex Lunchr) raises €70m by disrupting HR:

  • In two years, it has conquered 7% of the restaurant voucher market. It is multiplying now its services for employees and HR managers.
  • The startup works with more than 220,000 catering establishments and claims 210,000 users for nearly 8,000 companies.
  • For this Series C, the investors are Index Ventures, Idinvest, Daphni, Kami ventures and Bpifrance via its Large Venture fund.
  • Swile had already raised €11m in 2018 and €30m in 2019.
  • Launched at the beginning of 2017 by Loïc Soubeyrand, Swile offers a payment card and a mobile application for company employees. They include certain salary benefits, such as restaurant vouchers and gift vouchers.

Ubble:

  • The start-up offers an identity verification solution based on the analysis of live video. It is used by Carrefour Banque, Sofinco and the neobank Kard.
  • Ubble announces on June 24th that it has raised around €10m in less than a year in several operations, of which around 90% in equity.
  • The start-up has brought Partech and Breega funds into its capital. It had already raised around €1m in April 2018 from business angels and Kima ventures.
  • Created in March 2018, Ubble offers an authentication solution using only real-time video analysis, with random stimuli to ensure that it is not a pre-recorded video. The process takes place in real time: Ubble informs the customer at each step (e.g., showing their ID card) and the process only moves forward when the check has been completed using real-time stream analysis.
  • Ubble estimates that it can authenticate the document and the person in 90% of cases. Objective: to eventually reach 97%.
  • The solution has already been deployed by BpiFrance in its user path. It is also used by Carrefour Banque and Sofinco when entering into relationships for consumer loans, as well as by the neobank Kard

Congratulations also to Celsius, Privitar, Vybe and Taina technologies!

//And what else?

· Have a look on our medium article about our investment in Memo Bank!

· 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!

· Stay safe!

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Maxime Mandin

Maxime Mandin

279 Followers

Venture Capital Investor (0.5–10M€) in French, German, Benelux startups @Blackfin_tech, #FinTech #InsurTech #blockchain Formerly @SeventureP @XAngeVC