BlackFin Tech Weekly — October 21st, 2019

Gabrielle Thomas
Oct 21 · 3 min read

Guess who’s the winner in terms of number of Fintech & InsurTech funding rounds among European countries this week?

3 Fintech Deals in Switzerland!

Yes, Switzerland! Often described as “crypto nation”, it’s no surprise that an important part of Blockchain & Crypto Fintech deals these days come from there. Congrats! But let’s get back to our weekly sum up: we flagged 9 Fintech & InsurTech deals in Europe, of which 3 in Switzerland &2 in the UK, with a grand total of €80m+ raised in funding & 3 large rounds. In terms of subcategory, a lot of Banktech deals, more than half of the deals (5 deals) and Payment.

Let’s break down everything down as usual:

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  • CrossLend’s Series-B, a €35m round coming on the top of its €14m Series A back in last September, led by the strategic investor Santander InnoVentures (Bank Santander’s CVC). Founded in 2014 in Berlin, CrossLend is a digital debt marketplace aiming at making capital markets more efficient by making available assets to a wide range of institutional investors. Its innovative securitization solution connects originator supply with institutional investor demand.
  • The French Lemon Way attracts €25m from the London-based Toscafund AM, usually more active in the bigger deals/ private equity landscape (multi-asset alternative investment management firm with over $3.5 billion in AuM). The transaction, which is subject to customary regulatory approvals, marks Toscafund’s first private equity investment in France. Lemon Way, founded in 2007, is used by more than 1,400 websites in Europe and processed €2bn in transactions in 2018. The company has international expansion plans in the UK and Germany, and wish to invest further in product development.
  • Spain is definitely an attractive land for consumer credit players as the regulation is quite flexible; ID Finance raises a crowdfunding round through Crowdcube, joining Sequra, Nemuru and other local & international players in this market.
  • Next to these lending players, Proportunity offers in the UK an innovative model to boost B2C real estate opportunities by providing its customers with capital to get a flat; it enables them to get access to bigger flats/houses, leveraging mortgages with a higher capital basis.
  • The crypto & blockchain topics keep on attracting more and more attention these days. Here are some examples we’ve seen since September: Elliptic’s $23m Series B (AI-based fraud detection tool on blockchains), Eligma’s €4m Seed (Infrastructure for crypto-payments in Point-of-Sales), Kaiko’s $5m Series A (Digital assets data provider), or BottlePay’s $2m Seed. Is it linked with a growing B2B & B2C crypto adoption in the market? On the B2C side, BRD is an interesting case: the Swiss startup has raised more than $50m to date and reports a user base of 2,5m users (1m less than N26!!). This week “micro-round” has been described as a “strategic partnership” between BRD and Ripple (one of the biggest crypto company worldwide): BRD will integrate XRP, with the goal for Ripple to boost XRP’s adoption (Ripple cryptocurrency).

We would also like to congrats Quantemplate, Apiax, Cashforce & Bloomio’s teams for these important milestones

Congrats to our beloved European founders ❤

And what else happened at BlackFin Tech this week?

// You may have come across Julien at the rainy SaaStock in Dublin, or Romain at the Daphni VC Poker night in Paris (reminder: Romain has been awarded Best Poker Player 2019 during the last edition!) or also Chloé D. from our Finance team, at the CSR conference of France Invest this week.

//Portfolio news: our portfolio companies recruit for 100+ positions: Don’t hesitate to check it out ! We are also proud of Friss latest achievement, being now part of PartnerConnect program of Guidewire.

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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