BlackFin Tech weekly | September 2nd 2019

Romain Grimal
Sep 3, 2019 · 3 min read

Hello everybody! It’s nice to see you again, we hope your holidays were as awesome as you imagined!

But, now that kids are back to school everywhere in Europe, it’s also time for us to resume publishing your beloved newsletter: BlackFin Tech weekly is back!

Now, while most of us were away, the ecosystem wasn’t completely asleep as you’ll see below. Before you get back to your weekly routine, you might want to take a look at all the deals that tool place over the summer. But, before that, we thought we’d give you a brief roundup of what went down in the European Fintech world this August.

Out of the 30 European deals, totalling €600m+, some large rounds were announced, with 7 of them larger than €10m. The largest deals took place in the more mature segments of banktech and payments, while Wealth management & InsurTech came out strong too.

We’ve also seen some diversity in the countries represented this August: aside from the usual flurry of UK and German deals, France, Spain, Switzerland, Sweden (with big rounds!), Austria, Denmark, Norway, Ireland, and Estonia were all represented.

But the major news of August is that… Klarna raises a gigantic equity round of $460m, becoming Europe’s largest unlisted fintech valued at $5.5bn in the process! Not everyday you see something like that, right… Kudos to them!

And please find below, as usual, the broader list:

Made with ❤ by BlackFin Tech

As we mentioned, what caught our attention was the mega-round of the Swedish payment company Klarna, topping $460m at a $5.5bn valuation. The credit alternative payment method, competing among others with Affirm, Viabill, or Bread, has big plans for the US market where it counts more than 3,000 merchants as clients. Another Nordics’ champion then, to closely watch. Congrats!

The more enigmatic Swiss company Numbrs also reached the $1bn mark while raising $40m in funding, which brought total capital raised to date to $200m. Numbrs helps its users manage all their bank accounts under an app and apply for financial products. The company has now over two million downloads, more than €10bn in managed assets and partnerships with some of the biggest banks and Insurers.

Following Maxime Mandin’s recent post regarding Neobanks, we noticed that this summer doesn’t mark the end of their funding and growth appetite! We want to single out Lunar Way here because it also secured its full banking license in the process, so kudos to Ken Villum Klausen and the team!

But don’t forget all the others and please give it up to all our European Fintech founders, Scalable Capital, Habito, Yoti, B-North, PaySend, Bitwala, Flatfair, Hedvig, Penta, FNA, Finanzguru Team,, Delio, Neudata, CreditLogic, SafetyWing, MyCredit, Eagle Alpha, AskPorter, Qvalia, MoneyFellows, Nouga, I2 Invest, Money Dashboard, Validated ID, and Kompany!

Kudos to all of you, strong-willed entrepreneurs!

That’s it for today folks! And if you wish to receive our weekly posts straight into your inbox, 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

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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