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20 FinTech Venture Capital Funds in Europe

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Venture capital funds play an essential role in the development of the sprawling FinTech ecosystem. Growth-oriented startups and entrepreneurs with grand visions can use venture capital to expand, break into new markets, and grow faster. VCs take on a substantial amount of risk and uncertainty to get a good return on their investments. Investment decisions require thorough due diligence, and many funds decide to focus on local markets they understand best. 

Even with the detriment of the global pandemic, European startups still received $40 billion in funding in 2020, down only 4% from the decade-high of $41.8 billion in 2019. European FinTechs received $8.5 billion in funding in 2019, more than any other sector.  

FinTech VC funds help drive growth and innovation in sub-sectors such as payments, banking, investing, mortgages, lending, financial management solutions, and insurance, among others. FinTechs that want to grow rapidly with external funding need to find investors who believe in their ideas and can provide the best tools to nurture and support their success. 

The team at SDK.finance, a white-label digital payment platform, has prepared a list of 20 FinTech venture capital funds in Europe to help companies find the best partner to share their vision with.

The list is in alphabetical order and excludes sector agnostic VC funds. Let us know about any FinTech-focused venture capital funds in Europe that we might have missed.

Balderton Capital

Location: United Kingdom

Stage: early-stage

With more than $3 billion invested in 220 European startups over 20 years, Balderton is one of Europe’s leading early-stage venture capital investors, focused exclusively on European-founded technology companies. With 20% of the fund dedicated to FinTech, Balderton brings deep experience, unrivalled professional, and personal network to support companies they invest in from start to exit. 

Cavalry Ventures

Location: Germany

Stage: early-stage

Initial investment: €500k – €1.5m 

AUM: €100m

Cavalry Ventures is on the lookout for companies with big visions to build substantial companies in large markets with amazing products in Europe. Cavalry invests in software businesses that question the status quo and think big. The fund’s founders have all started and run companies for a living and have invested in and supported many companies over the past years. 

Change Ventures

Location: Estonia

Stage: pre-seed, seed, follow-on capital

Initial investment: €400k – €1.5m  

Change Ventures enables ambitious Baltic founders with the grit to succeed to build global, scalable businesses. With 45 years of combined experience, the fund’s partners aim to provide a founder-friendly, fast, and efficient investment process. Change Ventures helps companies after investment by getting to product-market fit and scaling the business with a personal network of over 450 follow-on and co-investors around the globe.

CommerzVentures

Location: Germany

Stage: early-stage, starting at series A

Initial investment: €2.5m – €10m  

AUM: €250m

CommerzVentures is a return-driven, non-strategic venture capital investor. Established as Commerzbank’s venture capital fund in 2014, CommerzVentures became an independent investment management company in 2019. The fund’s management team personally co-invests in each investment and offers access to key decision-makers in financial services and insurance. 

Dawn Capital

Location: United Kingdom

Stage: early-stage, series A and B

Dawn Capital partners with innovative companies that can become category-defining, global titans through exceptional teams, products, and business models. As one of Europe’s largest specialist B2B software and FinTech investors, Dawn looks for founders who have gotten their product right and revenues are beginning to scale up.

Dieter von Holtzbrinck Ventures

Location: Germany

Stage: early-stage

Initial investment: €500k – €2m  

Dieter von Holtzbrinck Ventures looks for entrepreneurs and their brilliant ideas. The VC fund is one of the most active early-stage investors in Europe, managing various venture capital funds from Cologne and Vienna’s offices. DvH Ventures goes beyond financial support to help their portfolio companies with management expertise and an international investor network. The VC fund has an exclusive German media-for-equity program that offers access to strong brands and access to their audiences.

DN Capital

Location: United Kingdom

Stage: early-stage, seed, series A and select series B

Initial investment: up to €20m  

AUM: €600m

Since 2000, DN Capital has established a successful track record with 40 exits, investments in 15 countries, and 3 IPOs. The VC fund has consistently backed great tech companies that emerge from any vertical. DN Capital’s team brings over 75 years of private equity experience to their investments and actively works with portfolio companies to steward their growth through various development stages. 

Earlybird Venture Capital

Location: Europe

Stage: all development and growth phases

Initial investment: €500k – €10m 

AUM: €1.5b

Founded in 1997, Earlybird is among the most experienced venture investors in Europe. The VC fund offers its portfolio companies not only financial resources but also strategic and operational support and access to an international network and capital markets. The fund has substantial AUM, 7 IPOs, and 30 trade sales under its belt. Earlybird strives to make a positive contribution towards solving the global climate crisis by recognizing its entrepreneurial responsibility for the environment.

Finch Capital

Location: Netherlands

Stage: series A and B

Initial investment: €500k – €7m  

Finch Capital funds and supports exceptional entrepreneurs creating products that will shape the future of finance. The fund leverages its international network and industry expertise to enable its portfolio companies to grow into leaders in their field. Finch is looking to invest in companies that have solutions to real problems and help make them better, more sustainable, and scalable.   

Fly Ventures

Location: Germany

Stage: early-stage

Initial investment: €500k – €1.3m  

Fly Ventures is a team of engineers, product designers, and investors uniquely positioned to help founders build technologically outstanding businesses with global ambitions.

HV Holtzbrinck Ventures GmbH

Location: Germany

Stage: early-stage

Initial investment: €500k – €5m  

HV invests early in companies that are developing exceptional products. The VC fund has enabled hundreds of entrepreneurs, creating an ecosystem for companies to connect and thrive together. HV co-invests with a set of top international business angels and investors. In the last 20 years, the fund has backed 200 companies and enabled the creation of more than 100 thousand jobs across all sectors of the industry.

Illuminate Financial

Location: United Kingdom

Stage: early-stage

Illuminate Financial finds, funds, and supports the best entrepreneurs in solving real problems for financial institutions. The VC fund understands the challenges software companies face when selling solutions to financial companies and how large financial firms struggle to filter and identify the best companies to source technology from. Illuminate uses its networks and partnerships with key industry participants across banks, infrastructure providers, asset & wealth managers, exchanges, and established vendors to bridge this gap and help portfolio companies achieve their full potential.

LBBW Venture Capital

Location: Germany

Stage: late seed, series A or series B

Initial investment: €500k – €5m 

LBBW Venture Capital has backed 41 companies, 2 of them unicorns, over its 22-year history. The fund seeks opportunities coming from core high-tech innovations and disruptive business models. LBBW invests only in outstanding entrepreneurs that are very talented, passionate, and have a great fit within their fields within the DACH region.

Mouro Capital

Location: Spain

Stage: early to growth stage

Initial investment: up to €15 million  

AUM: €400m

Mouro Capital is a venture capital firm investing in the future of financial services by backing ambitious entrepreneurs. The fund has a flexible investment style that adapts to each opportunity to support their portfolio companies. Mouro looks for founders with bold visions and relentless execution skills able to deliver industry-defining companies. 

NBS Ventures

Location: United Kingdom

Stage: seed and series A

NBS Ventures looks for passionate teams that are developing solutions that could benefit Nationwide’s members and society as a whole. NBS is not owned by shareholders but by its customers or members. The fund invests early and for the long term, supporting great companies, then doing things together that neither of them could alone.

Playfair Capital

Location: United Kingdom

Stage: early-stage, pre-seed, and seed

Initial investment: £100k – £500k  

Playfair Capital has been helping ambitious and exceptional entrepreneurs build brilliant technology businesses since 2013. They have backed the founders of more than 60 companies and remain supportive, passionate investors. Playfair invests early and enthusiastically in founding teams and shares with them a deep and broad experience of operating and scaling businesses, hiring talent, and navigating to the next stage of their journey.

Rabo Frontier Ventures

Location: Netherlands

Stage: early-stage

AUM: €150m

RFV is a global investment fund that backs the best and most ambitious entrepreneurs that align with Rabobank’s strategic direction and help them make their ideas real and lasting. Working side-by-side with founders, the fund aims to transform FinTech and build sustainable and future-proof business models with emerging technologies in this rapidly changing world.

Speedinvest

Location: United Kingdom

Stage: seed, series A, and series B

Initial investment: €250k – €4m

AUM: €400m

Speedinvest strives to empower founders on their journey with actionable, aligned, and game-changing support. The fund provides complete access to their experienced investors, an in-house Platform+ team of operational experts who offer tailored growth marketing and networking support throughout every stage of their journeys. 

SpeedUp Venture Capital Group

Location: Poland

Stage: early-stage, seed, series A

Initial investment: €200k – €5m  SpeedUp Venture Capital Group was formed by people who have been supporting the development of technology companies and involved in the development of the VC environment in CEE for years. The fund cooperates with European and CEE companies and entrepreneurs who want to conquer the global market by utilizing their self-developed solutions. Over the last decade, SpeedUp has invested in more than 100 companies. 

Velocity Capital Fintech Ventures

Location: Netherlands

Stage: early-stage

AUM: €105m

Velocity Capital Fintech Ventures invests in fintech companies with unstoppable founders. The VC fund provides early-stage capital funding to leaders with vision, determination, and strong business models. Velocity seeks fast-growing companies at the intersection of technology and financial behaviours, markets, and infrastructures that connect and create opportunities for people worldwide. 

VR Ventures

Location: Germany

Stage: early-stage

AUM: € 0.5 – € 2.0 million

VR Ventures supports leading-edge startups in the financial services and real estate sector. VR Ventures’s investment focus includes FinTech, PropTech, digital business solutions for SMEs. They invest in startups in the early stage phase (late seed, series A, series B) and prefer to invest in Germany, Austria and Switzerland. VR Ventures invests between € 0.5 and € 2.0 million as an initial investment. Participation in further financing rounds is possible.

SDK.finance: the proven digital banking software partner of choice 

SDK.finance, a white-label digital payment platform, has everything banks and financial institutions need to create next-generation payment products. The digital retail banking platform built by a team with 15+ years of experience in FinTech is available in all popular formats: web, iOS, and Android applications to reach the new generation of mobile-first customers. 

The platform is available in three formats:

Check out this demo video to learn more about the SDK.finance platform:

Contact the SDK.finance team directly to learn more about what type of banking software will be perfect for your business needs.

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Source: https://sdk.finance/20-fintech-venture-capital-funds-in-europe/

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Lakeba ranks in FT’s High Growth Companies for the second year running

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The annual Financial Times Asia-Pacific High Growth Companies ranking places Lakeba as the fastest growing Fintech in Australia.

“Our no-nonsense approach is paying off,” says Lakeba’s CEO, Giuseppe Porcelli.

Lakeba’s growth is driven primarily by its fintech business portfolio, including eziTECH, Verimoto, ezidox, BRICKLET and Quixxi. Whilst it has 12 businesses in its portfolio, its fintech businesses deliver hyper growth. With the Financial Times also recognising Lakeba as part of Australia’s Top Fastest.

Lakeba’s eziTech Banking as a Service technologies are now being utilised by a growing consortium of organisations in the financial services sector, including some of Australia’s most progressive neobanks.

Verimoto provides remote asset and identification verification for vehicle and asset financing. It posted 170 percent YoY growth in March.

Lakeba’s electronic document curation platform, ezidox, saw significant growth. Fuelled by increased broker usage while COVID restrictions eliminated physical document transactions, and deeper integration in one of Australia’s big-5 banks and their key challenger bank. Its CDR accreditation is already fuelling the growth of ezidox’ development as a data rights intermediary.

Quixxi Security’s patented obfuscation technology is used by one of the biggest US insurers, Allstate Insurance Company; Africa’s Standard Bank Group and some of Australia’s most recognised brands. Increased adoption of 5G and eventual 6G technologies in financial services accelerate the need for Quixxi’s technology.

While Lakeba’s property fragmentation service, BRICKLET, remains unchallenged the world over. Currently limiting fragmentation to Australia, it’s portfolio of property fragments is growing in excess of $45 Million.

“We were quite happy to be the biggest fintech you’ve never heard of. But this two-year consecutive ranking by the Financial Times and Nikkei Asia puts pay to that”, smiles Porcelli.

Lakeba‘s doubling down on recruiting senior financial services executive talent, adding to its appointments of Ubank, Judo Bank, eftpos and Citi Bank executive, Alex Twigg; Goldman Sach’s Frank Zhu and Macquarie Bank’s Telly Desillas. Recently hiring Adrian Valinno, BNY Mellon’s former Digital Transformation Lead.

“It’s really important to us to keep attracting the right talent and challenging the ridiculous notion that fintech shareholders need extreme patience in seeing their returns. Our continuing rate of achievement blows that notion out of the water,” concludes Porcelli.

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Source: https://australianfintech.com.au/lakeba-ranks-in-fts-high-growth-companies-for-the-second-year-running/

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Praemium FUA up, opens Edinburgh office

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The platform has recorded increased funds under administration (FUA) of $37.9 billion as it expands its presence in the UK with the opening of an office in Edinburgh, Scotland.

For the March quarter, Praemium recorded an 11% increase in FUA, and a 96% increase compared to March 2020.

The Australian platform FUA increased 224% on the previous corresponding period to $16.9 billion while the international platform increased 42% to $4.4 billion.

The platform recorded $801 million in net platform inflows with $448 in the Australian platform for the quarter, up 149% on the previous corresponding period.

Praemium has doubled in size over the past year. Despite the pandemic, the past 12 months have been the most transformational in our story thus far,” Praemium chief executive Michael Ohanessian said.

The results follow the opening of a Praemium office in Edinburgh.

To read more, please click on the link below…

Source: Praemium FUA up, opens Edinburgh office | Financial Standard

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Source: https://australianfintech.com.au/praemium-fua-up-opens-edinburgh-office/

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Mambu research reveals global consumers are hesitant to use Open Banking

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A study of 2,000 global consumers released by Mambu, the market-leading banking and financial services platform, revealed that a significant misunderstanding of open banking is hampering its adoption. The Censuswide survey, commissioned by Mambu, found that more than half (52%) of respondents have never heard of open banking and 61% have never used it, in spite of 80% of respondents using one or more mobile finance apps.

“The research reveals the majority of customers don’t understand what open banking is, how it works and what it means for them”, said Elliott Limb, Mambu’s Chief Customer Officer. “But it also reveals they do care about receiving better financial services that support their lifestyles – smart banking. If banks address this need and lack of understanding, it will help banks build customer loyalty and provide genuinely innovative, differentiating, revenue-generating services.”

Kristofer Rogers, General Manager ANZ for Mambu, added, “In Australia, one of the main reasons for the slow adoption of open banking so far is that open banking is built on modern technology, and the Australian banking and financial services industry is not. There’s a huge disconnect, with many established banks simply unable to deliver on the regulatory requirements of open banking with their existing technology – they need to adopt API-first, cloud banking tech to truly embrace open banking. And it’s imperative that we do make progress on this because beyond technology, open banking is ultimately an ideology of creating better financial outcomes for every Australian, and who doesn’t want that.”

Open banking sees increase post-COVID despite consumers being ‘scared’ to use it

Open banking has witnessed an increase in adoption globally as a result of the COVID-19 pandemic, and the research indicates a marked change in attitude and priorities as a result of the crisis. According to our survey, 52% said they wanted more control over their finances. At the same time, 40% said the pandemic had changed their attitudes to privacy and 24% to data sharing. Another boost came from the 41% who said they have had more time for research.

  • I have needed to take more control of my finances (52%)
  • I have had the time to do my own research and understand it better (41%)
  • My attitude to privacy has changed since the pandemic (40%)
  • I’m less worried about sharing data (24%)
  • I have had more time to set it up (40%)

However, existing concerns remain with 48% of consumers claiming they are ‘scared’ to use open banking and 53% still believing that open banking is a dangerous use of data sharing.

“Banks must accept that open banking is still a not fully comprehended phenomenon so this is the starting point,” said Dmitrii Barbasura, CEO and Co-Founder, Salt Edge, a Mambu partner. “We believe they need to invest time and effort in educating customers about the new possibilities they get access to, and also inform them about their rights and the high safety level covered by open banking.”

Change the Record

Demonstrating the opportunity for open banking, the survey revealed that 57% said they would be more likely to use it if their bank had more successfully implemented and promoted it.

When exploring further what consumers want from open banking, the survey shows that nearly half of respondents want instant digital money transfers; more than a third want aggregated bank balances at a glance; a third want tips on better money management and a quarter want money-saving suggestions for their bills.

  • Instantly transfer money between different accounts (48%)
  • See different account balances together at a glance (38%)
  • Help boost my savings automatically calculating spending patterns and moving spare money into savings or investments (36%)
  • Receive helpful hints about better money management (34%)
  • Receive one overall monthly bank statement (34%)
  • Allow access to banking data to receive automatic suggestions about money saving on bills and insurance (26%)

This is the first study of Mambu’s newly launched research series, Disruption Diaries. The series seeks to understand what customers think of the key trends driving the development of the financial services industry, in an effort to identify opportunities for banks and others. The full report on open banking can be found here: Let’s talk openly.

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Source: https://australianfintech.com.au/mambu-research-reveals-global-consumers-are-hesitant-to-use-open-banking/

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Zip Co raises $400 million for international expansion

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Zip Co (ASX: Z1P) has priced $400 million of senior convertible notes to fund expansion into new regions on the back of major growth in the US.

Co-founder and COO Peter Gray says the move will keep shareholders happy, with the notes set to mature in 2028.

“We are very pleased with the strong global demand for this offering,” says Gray.

“This transaction further diversifies Zip’s sources of capital and allows us to pursue our global growth aspirations while reducing potential dilution of existing shareholders. Another fantastic outcome for Zip and its shareholders.”

The $400 million in convertible notes mirrors the approach recently taken by buy-now pay-later (BNPL) competitor Afterpay (ASX: APT).

However, Zip’s latest raise doesn’t come close to the whopping $1.5 billion secured by Afterpay’s settlement of convertible notes due in 2026.

The offering is being marketed to eligible investors and the notes are set to be listed on the official list of the Singapore Securities Trading exchange. Settlement is expected on or about 23 April 2021.

To read more, please click on the link below…

Source: Zip Co raises $400 million for international expansion

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Source: https://australianfintech.com.au/zip-co-raises-400-million-for-international-expansion/

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