BlackFin Tech weekly | September 22nd, 2019

Romain Grimal
Sep 20, 2019 · 3 min read

¡Holà fintech friends! Spain has taken over the European Fintech scene last week so we are using their colors this time around

¡Muchas felicidades España!

Indeed, out of the 15 deals announced this past week, 7 came from Spain. Also worth noting, Germany’s fintech unicorn club just got bigger with the addition of Deposit Solutions that has crossed the mythical €1bn valuation mark. Herzlichen Glückwunsch! And also, France, Denmark, Ireland & the UK managed to land smaller rounds.

In aggregate, European startups raised about €80m raised this week. While the number of rounds is quite significant, most deals (12) were seed stage rounds. Three startups raised a total of €70m among themselves: Deposit Solutions at €50m, Fairmoney (formerly Predictus) and Joonko (the latest Finleap poster-child) at €10m each.

In terms of subsegments, no huge surprise this week: Banktech came again on top of all of them, followed by insurtech & wealth management.

And with no further ado, this week on show:

So, quickly going back to the huge news of the week: Deposit Solutions’ €50m round led by Deutsche Bank. This round has made Deposit Solutions the second most highly valued German fintech after N26! Here are some worth-noticed facts about our new European champion:

  • Deposit Solutions' software allows banks to link their retail clients to other lenders, as a way for them to collect deposits from people across Europe who are not their direct customers. The startup announced having reached 200,000 customers while linking 100 banks in 18 Europeans countries.
  • Deutsche Bank acquired 4,9% of the company for €50m. Since 2017, DB has been one of the biggest clients of the solution and is now planning to roll out the software to its customer base.

But beyond the well-deserved applause for the new fintech superpower, please give it up to FairMoney, Quipu, Joonko, TreasurySpring, Mitto, AssureHedge, CashBee, AREX Real estate technology, MoneyShake, LisaSeguros, Flanks, Taxdown, KontoLink, and SmartFincas!

Congrats to all on your fundraising!

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Editor note: this post has been edited to eliminate a typo related to AREX Real Estate Technologies’ funding round amount. The correct amount is €0,175m and not €0,75m as written previously. Apologies for any inconvenience this may have caused.

Romain Grimal

Written by

VC @ BlackFin Tech, looking to support ambitious #fintech & #insurtech entrepreneurs seeking to become European champions (and beyond)!

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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