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☆ Re:cap, a German revenue-based financing startup, raised $14.6 million using this 13-slide pitch deck
▼ + stars: | 2024-06-04 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Read previewRe:cap, a German revenue-based financing startup, has raised $14.6 million in Series A funding. Borrowers can use financing on re:cap to borrow up to 5 million euros, or about $5.5 million, over terms of up to five years. This story is available exclusively to Business Insider subscribers. "Overall, the private debt market is growing tremendously, faster than most if not all alternative asset classes, so the opportunity generally is huge," Paul Becker, CEO and cofounder of Re:cap, told Business Insider. According to Atomico, funding for European startups dropped by 45% year-on-year to $45 billion in 2023, but investment in European fintech dropped well below the wider slump.

Persons: —, Paul Becker, Felix, Becker, European fintech Organizations: Service, HSBC Innovation Banking, Business, Felix Capital, Finch Capital, Channel Capital, Avellina Locations: Berlin, European

☆ British neobank Monzo boosts funding round to $610 million to crack U.S. market, launch pensions
▼ + stars: | 2024-05-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

MonzoBritish neobank Monzo said Wednesday that it's raised another $190 million, lifting the total it's raised so far this year to $610 million. Singaporean sovereign wealth fund GIC also participated in Monzo's latest fundraise, a source familiar with the matter told CNBC. The total $610 million round marks the single-biggest funding round for a European fintech in the past year, according to Dealroom data. "What I like about how we're approaching this is, at the heart of it, it's not just words," Anil told CNBC in an exclusive interview Tuesday. European expansion is also on the cards, Anil said, although he didn't commit to a date for when this will happen.

Persons: Anil, Monzo, it's, GIC, we've, Monzo's, Revolut Organizations: CNBC, Hedosophia, Barclays, NatWest, BlackRock, JPMorgan, Citibank Locations: U.S, Berlin

☆ Klarna scores major payment deal with Uber ahead of hotly anticipated IPO
▼ + stars: | 2024-04-24 | by ( Ryan Browne | ) www.cnbc.com time to read: +3 min

Rafael Henrique | SOPA Images | LightRocket via Getty ImagesKlarna on Wednesday announced a global partnership with Uber to power payments for the ride-hailing giant's Uber and Uber Eats apps. The partnership will see the Swedish financial technology firm added as a payment option in the U.S., Germany, and Sweden, Klarna said in a statement. In the U.S., Germany, and Sweden, Klarna will roll out its "Pay Now" option, which lets customers pay off an order instantly in one click, in the Uber and Uber Eats apps. The company will also offer an additional payment option for Uber users in Sweden and Germany which allows users to bundle purchases into a single, interest-free payment that gets taken out of their monthly salary. The firm recently launched a monthly subscription plan in the U.S. to lock in "power users" ahead of its anticipated IPO.

Persons: Rafael Henrique, Uber, giant's Uber, Klarna, Sebastian Siemiatkowski, Siemiatkowski, SoftBank Organizations: Getty, Wednesday, Klarna, Bloomberg News, CNBC, Nike, Instacart Locations: Swedish, U.S, Germany, Sweden, Ukraine

☆ Jamie Dimon had a lot to say in his annual letter to shareholders
▼ + stars: | 2024-04-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're looking at Jamie Dimon's annual letter to shareholders and why this edition is so different . The big storyDimon sounds offWin McNamee/Getty Images; Chelsea Jia Feng/BIWhen Jamie Dimon talks, people tend to listen. Dimon's annual letter to shareholders grabs the business world's attention in ways most executives can only imagine. Dimon described the tech as just as innovative and impactful as the printing press, steam engine, electricity, and the internet, writes Business Insider's Jyoti Mann. The polarization of politics was something Dimon touched on in his letter, urging people to resist being "weaponized."

Persons: —, Jamie Dimon's, Jamie's, Win McNamee, Chelsea Jia Feng, Jamie Dimon, Larry Fink, Dimon, Insider's Jyoti Mann, BI's Theron Mohamed, BI's Juliana Kaplan, Alex Brandon, Rebecca Zisser, he's, it'd, David Rosenberg, Jenny Chang, Rodriguez, Elon Musk, Tesla, Musk, Gabor Cselle, Brooks Kraft, Zers, they'll, they've, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Business, Service, JPMorgan, Democratic, Monetary Fund, Microsoft, Google, Twitter, Brooks Kraft LLC, Getty, Warner Bros, Oxford High, Boeing Locations: Pennsylvania, Asia, Hong Kong, Singapore, Dubai, Abu Dhabi, London, New York

☆ These are the 32 most exciting European fintech startups to watch in 2024, according to venture capitalists
▼ + stars: | 2024-04-08 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

This is Business Insider's annual list of the hottest fintech startups in Europe. After years of standing as the bloc's most in-demand sector, investment in fintech has slumped considerably. In 2022, fintech made up 17% — or $13.9 billion — of the $82 billion that had been invested into European startups, according to Atomico. That number dropped last year when around $4.5 billion was invested — the equivalent of a tenth of the total $45 billion poured into the ecosystem. This story is available exclusively to Business Insider subscribers.

Persons: —, fintech Organizations: Service, Business Locations: Europe, fintech

☆ Fintech giant Revolut appoints new UK boss amid struggles to get banking license
▼ + stars: | 2023-11-02 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

European fintech firm Revolut on Thursday said it appointed former Barclays executive Francesca Carlesi as its new U.K. CEO. A spokesperson for Revolut told CNBC that the move was not linked to its application for a banking license. Carlesi would be in charge of the company's U.K. operation — which, once it receives a banking license, would manage the Revolut banking division. The appointment comes at a time when Revolut is beefing up its local operation amid a long wait to obtain a coveted British banking license. Revolut was late to file its accounts earlier this year, which exposed the company to criticisms over whether it is ready to become a fully licensed bank.

Persons: Revolut, Francesca Carlesi, Carlesi Organizations: Barclays, Deutsche Bank, Molo Finance, Revolut, CNBC, Bank of England, Financial, Authority Locations: U.K, British

☆ Dutch neobank Bunq files application for US banking license as it tries to succeed where many European fintechs have struggled
▼ + stars: | 2023-04-04 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

Dutch banking startup Bunq has launched its application for a US banking license. Dutch banking startup Bunq has launched its application for a US banking license, looking to succeed where others have failed. Europe's biggest fintech startups have pursued US banking licenses but very few have succeeded to date. The cost and difficulty of gaining approval from the FDIC is a huge barrier to entry, leading to many fintech startups to partner up with already registered institutions instead. Niknam said Bunq had the advantage of holding an EU-wide banking license through the Dutch regulator, becoming the first institution to achieve one in 35 years in 2014.

☆ Sequoia-backed fintech Pennylane is set to raise around $50 million in deal led by Revolut investor DST Global, sources say
▼ + stars: | 2023-03-02 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

French accounting tech startup Pennylane is set to raise around $50 million, Insider understands. The new round will be led by Revolut investor DST Global, four sources familiar with the deal said. The new funding is thought to be an up-round from the company's last deal in January 2022. Pennylane, a fintech that wants to become the predominant financial operating system for SMEs, is set to close a new funding round led by Revolut investor DST Global, sources say. The Paris-based company will raise around $50 million, two sources said.

☆ Check out the 11-slide pitch deck Moonfare, a startup that lets high-net-worth individuals invest in private equity funds, used to raise a $15 million extension
▼ + stars: | 2023-02-08 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

German fintech Moonfare has raised $15 million in its second extension to its Series C round. We got an exclusive look at the 11-slide pitch deck Moonfare used to raise the fresh cash. Moonfare, a startup that grants access to private equity for retail investors, has raised $15 million in fresh funds. Moonfare raised $125 million in a Series C round in November from Shopify and Twitter-backer Insight Partners. Now, it has added another $15 million in an extension round led by from 7 Global Capital (7GC).

☆ Blackstone's real-estate business is totally fine, so please stop asking about it
▼ + stars: | 2023-02-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

Blackstone's real-estate business is literally fine, everyone. Yes, the private-equity giant had to limit investors from pulling their money out from the $69 billion Blackstone Real Estate Income Trust (BREIT) in December. And yes, it's also true that Blackstone had to tell investors again on Wednesday that investors were pulling money from BREIT. Murphy, an executive at Standard Investments, serving as Blackstone's new COO of corporate private equity and Heather von Zuben's appointment as COO of Blackstone's credit arm. As much as I enjoy poking fun at Blackstone, Schwarzman and Gray aren't necessarily wrong, to a degree.

☆ These are the 27 most exciting European fintech startups to watch in 2023, according to venture capitalists
▼ + stars: | 2023-02-01 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

Now, investors are placing a greater emphasis on startups in technical areas like FinOps. We asked 14 of Europe's top fintech investors to name the startups to watch in 2023. Investment in European fintechs fell to $23.3 billion last year, down from 2021's record-breaking $29.5 billion, according to PitchBook data, and closer to the total for 2019 and 2020. Different types of fintechs are also grabbing investor attention, with those operating in more niche, technical areas facing a brighter 2023. Here are 27 European fintechs to watch in 2023, according to some of the region's top investors.

☆ Peter Thiel's VC fund backs TreeCard, a fintech that plants trees when you spend
▼ + stars: | 2022-11-30 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

TreeCard offers users a spending and money management platform tied to a debit card made from wood. TreeCardTreeCard, a climate-conscious digital money app, raised $23 million from investors in a new financing round. Though based in the U.K., TreeCard chose the U.S. as its launch market. The TreeCard app includes a game that lets users visualize how many trees their activity has helped produce. TreeCard offers clients up to 3% of annualized interest on their deposits, a feature it offers through third-party vendors.

☆ A startup building software to encrypt messaging tools such as Slack just raised $11 million from Molten Ventures. Check out the 17-slide pitch deck Worldr used to secure the round.
▼ + stars: | 2022-11-07 | by ( Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

A startup building encryption software to secure business communications on Slack and Teams just raised $11 million. London-based startup Worldr has built an additional layer of "zero-trust" infrastructure offering security, privacy, and compliance for business communication apps. As the company scaled into new markets, it became a highly regulated business, Buchan told Insider. This means that despite using Slack or Teams for business communications, those companies can't access the customer's data. The company has built integrations for Microsoft Teams, Slack, and WhatsApp, and has Microsoft Outlook in the works.

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