BlackFin Tech Weekly — October 12th
Dear fintech friends,
This weekend, all eyes were on Rafael Nadal as he played in the Roland Garros final. He won against Novak Djokovic in 3 sets his 13th French Open, and overall 20th Grand Slam, equalizing Roger Federer’s record. What a feat to accomplish!
Now let’s get back into European fintech deals! It’s been quite a calm week in terms of deal sizes with just over €40m being announced over 12 rounds. Leading our podium is British fintech Molo Finance with a massive Debt and Equity round totaling £266m. The equity part is £16m and sees Macquarie Group and Patron Capital participating.
Deal-origin wise, this week’s panel is quite diversified, with 7 countries represented! The UK, once again, is the most represented with 5 deals out of the 12. Germany comes in second with two deals, and France, Belgium, Spain, Estonia and Italy all have one deal each.
Sub-industry wise, Banktechs were pretty active this week, with 6 deals!On the list, we also have, 3 Investment Banking fintechs, 2 Insurtechs and 1 Wealth Management fintech: Sparq.
Let’s dive in:
This week on show:
Joko closes a €10m round:
- The french fintech is a cashback app. This means that it rewards the user’s (online or in person) expenses. The purchases can be related to food, retail, beauty, trips or even DIY.
- The app is free. The user connects his credit card via the app or a Chrome extension, and then the banking transactions with partner shops are automatically detected. The user is notified when the « cashback » is credited.
- The start-up was launched end of 2018, and counts more than 500K users, with over 1000 partner shops (eg: Franprix, Asos, Heetch…).
- Joko’s users connect to the app 4 times per week on average. Until now, more than €3bn in transaction have been analyzed, and €1m awarded to the users.
- The round brings the total fundraising up to €12m, and saw Partech, Axeleo and Alpha Capital Partners participating.
- The company currently has 25 employees, and will use the funds to grow the team to 50, and expand throughout Europe.
- Bravo Xavier & all the team!
Devengo closes a €1.3m round:
- The spanish fintech was founded in 2019. It allows its users to collect on demand the part of their salaries they have already generated.
- The company joined Lanzadera’s acceleration program in September.
- This round brings the total funding of the company up to €2.5m.
- Business Angels such as Francois Derbaix, co-founder and CEO of Indexa Capital, participated in the round.
- The funds will be used to accelerate growth and to target bigger companies.
Congratulations also to Mozzeno, Insurwave, Lokky, Captiq, Origin, Corefihub and Genesis!
See you next week!
//And what else?
- Have a look on our medium article about our investment in Descartes!
- Have a look at our Linkedin page to have some insights about our portfolio their recruitment, our events and the activity of the team!
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- Stay safe, stay masked
