BlackFin Tech Weekly — November 25th

Gabrielle Thomas
Nov 22 · 3 min read

With almost €60m raised across Europe, this week is definitely very B2C oriented. Indeed, even if UK and France led the way with two deals for each, Germany, Luxembourg, Spain and the Netherlands follow with interesting Seed and Series A rounds.

Made with ❤ by BlackFin Tech

This week, we’d like to focus on:

Luko protect: the insurtech provides user-friendly home insurance products, simplifying the subscription process, providing an insurance certificate in few minutes, but also the claim process, possibly made by chat or phone call. They raised an impressive €20m round, with Accel and previous investors such as Founders Fund and Speedinvest. Interesting to note that for this huge Series A, no French fund took part to the round. As part of their strategy, on top of its differentiating IoT vision to enhance user stickiness on its app, Luko decided to partner with nonprofits to redistribute some of its revenue, following Lemonade example, and received a BCorp certification. The startup competes with Hippo Insurance, a US tech-driven home insurer which is already a real success: with $209m funding since 2015, it is already a unicorn. It just bought the home maintenance platform Sheltr to improve the quality of its services (announcement this week).

B2C Banking and PFM are on fire this week:

  • Xaalys: the neobank focused on teenagers and their parents raised a round with Bouygues Telecom Initiatives (the first fintech investment for the venture fund) and business angels. The start-up wants to develop a new version of its application and target between 10 000 and 15 000 competitors by the end of 2020. It positions on a highly competitive market, as several French competitors are currently developing in the same field, such as PixPay or Kard, which respectively raised €3.1m and €3m recently. Outside France, there is also Rebellion Pay in Spain, or Gohenry in the UK, gaining momentum. This is a very interesting market, as it requires to very well understand the new economic needs of the gen Z, between independence and parental supervision, on generally small amounts of money. It also involves helping teenagers better understand how to manage their money, through little objectives, auto savings or pedagogical contents.
  • Another recurring feature of our weekly list is sustainable investing: Congratulations to Tomorrow, a German banking application helping individuals to invest in sustainable projects, linked in particular to climate change issues. For its first financing round, the start-up, managing already 17 000 current accounts raised €8.5m with the London Environmental Technologies Fund and business angels, to expand in new European countries in 2020. In the same universe, StarTalers is involved in helping women invest in innovative projects with social impact, and raised a very positive €520k seed round.
  • Tymit and Flow Your Money are also situated on B2C banking niche projects, with credit card reinventing and auto-savings and auto-spendings tool.

And let’s also applause to Funding Xchange, and ID Finance which realized the most important crowdfunding operation in Spain through the Crowdcube platform!

//And what else?

  • This week, you may have met Michele at Slush, Romain in Frankfort, Maxime at DIA in Munchen, at Global Venture Summit in Luxembourg (invited by our friends at The LHoFT ) and in London too, and me @ CFO Day in Paris .
  • On Tuesday 26th morning, I will be at Le Swave for the Office Hours in the morning to meet startups.
  • Have a look at our Linkedin page to have some insights about our portfolio news & recruitment, our events, and activity!
  • And if you wish to receive BlackFin Tech posts straight into your inbox and stay updated, click here!

BlackFin Tech

Thoughts and ideas on all things fintech & insurtech. Managed by BlackFin Tech, a € 180m independent European Fintech VC and its team

Gabrielle Thomas

Written by

Exploring the future of financial services ⧁ VC @Blackfin_tech

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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