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☆ HiBob, a $2.7-billion HR unicorn, is acquiring Tiger Global-backed payroll startup Pento
▼ + stars: | 2024-02-13 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Read previewHiBob, a London headquartered HR unicorn, is acquiring UK payroll startup Pento. The company is valued at $2.7 billion, has raised $574 million in funding, and is acquiring Pento to expand its payroll offering. The acquisition came about after seeing the fragmented payroll market in the UK with HiBob opting to go one step further than integration, CEO Ronni Zehavi told Business Insider. AdvertisementLondon-based Pento has raised $54 million in VC funding, including from General Catalyst and Tiger Global. Around 35 Pento staff will join HiBob as part of the deal, which is subject to closing conditions.

Persons: —, Ronni Zehavi, Zehavi, HiBob Organizations: Service, Business, General, Bessemer Venture Partners, General Catalyst, Tiger Global, Dealroom, HiBob Locations: London, Israel

☆ Alphabet-backed GoCardless considers takeovers as CEO expects a barrage of consolidation
▼ + stars: | 2023-11-14 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Hiroki Takeuchi, GoCardless chief executive, on the MoneyConf Stage, attends Web Summit 2021 in Lisbon, Portugal. Last year, GoCardless acquired the Latvian open banking startup Nordigen in its first major acquisition. Open banking is one thing and definitely something we think is really important." GoCardless' technology allows firms to collect direct debit payments from consumers. What is open banking?

Persons: Hiroki Takeuchi, Harry Murphy, We're, GoCardless, Takeuchi, Rapyd, they're, we've, Nordigen Organizations: Sportsfile, Getty, GV, CNBC, Tink, PayU GPO, GoCardless Locations: Lisbon, Portugal, British, Latvian, Britain, Statista, London

☆ European software startup investor Notion Capital has raised $327 million for fifth and largest fund to date
▼ + stars: | 2023-07-06 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

London-based Notion Capital has raised its fifth and largest fund to date. The software-as-a-service investor has brought in $327 million from new and existing LPs. Notion has backed companies like fintech unicorn GoCardless and Currencycloud. London-based investor Notion Capital has raised 300 million euros (around $327 million) for its fifth fund. The fund focuses on software-as-a-service and fintech companies in the UK and Europe with its latest fund domiciled in Luxembourg and denominated in euros.

Persons: GoCardless, Stephen Chandler, we're, didn't, Chandler, Itxaso del Palacio, Stephanie Opdam, Kamil Mieczakowski Organizations: BlackRock, Visa, Tiger Global, Patient Capital, Novo Holdings, Cortes Capital, KfW, Itxaso Locations: Currencycloud, London, Europe, Luxembourg, Shelby County Tennessee, Upvest, Germany

☆ Alphabet-backed U.K. payment firm GoCardless to cut 15% of headcount
▼ + stars: | 2023-06-13 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Alphabet -backed British fintech unicorn GoCardless has said it will reduce its global headcount by 15%, slashing 135 roles in a bid to cut costs. A separate 15 roles will be transferred from Britain to Latvian capital Riga. The payments firm most recently raised $312 million in a Series G funding round in February, earning a $2.1 billion valuation. Its backers include Alphabet's venture capital investment arm GV, BlackRock and Permira. Takeuchi hinted at the firm's renewed focus on profitability to CNBC in comments at the Money 20/20 conference last week.

Persons: GoCardless, Hiroki Takeuchi, Permira, Takeuchi, CNBC's Ryan Browne, — CNBC's Ryan Browne Organizations: GV, CNBC Locations: British, Australia, New Zealand, Britain, Latvian, Riga, London, BlackRock

So what's hot in fintech right now? One area fintech companies are getting excited by is an improvement to online checkout tools. Callan Carvey, global head of operations at Cleo, said the firm's AI connects to a customer's bank account to get a better understanding of their financial behavior. "A job that typically would take around one or two weeks can now be completed in 30 minutes, right. Several fintech executives CNBC interviewed spoke of how they're not interested in launching products tailored to crypto as the demand from their customers isn't there.

Persons: MacKenzie Sigalos, hasn't, they've, Starling, Richard Davies, Davies, Niklas Guske, —, B2C fintechs, David Singleton, Guske, dazzled, Cleo, Callan Carvey, Carvey, Teo Blidarus, Taktile's, Hiroki Takeuchi, Takeuchi, Changpeng Zhao, they're, Jack Zhang, Zhang, Prajit Nanu, cryptocurrencies, Banks, Nanu Organizations: Bank, fintechs, CNBC, Business, Allica Bank, B2B, Tiger, Schroders Capital, Atom Bank, Schroders, U.S . Securities, Exchange Commission, SEC, U.S, cryptocurrencies Locations: Amsterdam, MacKenzie Sigalos AMSTERDAM, Netherlands, British, Atomico, U.S

☆ London fintech Griffin lands UK banking license with restrictions after years-long process as it eyes fresh funding in 2023
▼ + stars: | 2023-03-07 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

British fintech startup Griffin has secured a banking license after a years-long process. The Prudential Regulation Authority (PRA) has approved the startup, subject to restrictions. Banking-as-a-service startup Griffin has become the latest fintech to land a UK banking license with restrictions after a years-long process. Securing a UK banking license is no mean feat. Neobanks like Revolut, founded in 2015, haven't yet managed to get a UK banking license with stringent processes in place, with Jarvis suggesting that the application process isn't something "you can just throw money at."

☆ Vev, founded by ex-Apple staffers, helps entrepreneurs instantly launch their businesses. Check out the 12-slide pitch deck it used to raise $5.3 million.
▼ + stars: | 2023-02-08 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +2 min

A Dutch startup founded by Apple alumni has raised $5.3 million from Notion Capital. Check out the 12-slide pitch deck it used to raise the fresh funds. Vev, a startup founded by ex-Apple staffers, has just raised $5.3 million from Notion Capital and Point Nine Capital. The round was led by European B2B SaaS and cloud venture capital firm Notion Capital, which has previously backed GoCardless and Paddle. Check out the 12-slide deck used to raise the fresh funds.

☆ European software startup investor Notion Capital set to raise around $300 million for fifth and largest-ever fund, sources say
▼ + stars: | 2023-01-31 | by ( Callum Burroughs | Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

European venture capital fund Notion Capital is set to raise its fifth fund, Insider understands. The London-based investor has secured around $300 million in commitments so far, sources say. European venture capital firm Notion Capital, which has backed companies like Currencycloud and GoCardless, is set to raise its fifth fund, sources say. Notion filed for its fifth fund in Luxembourg in February 2022. The fifth fund's commitments came in sizable chunks from LPs last year with around $200 million raised over the course of 2022, one London-based source said.

☆ Ex-employees from Europe’s 60 biggest fintech unicorns like Revolut and Klarna spawned 310 new startups, new data shows
▼ + stars: | 2022-11-29 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +3 min

The biggest fintech startups in Europe are producing a large chunk of new founders in the industry. It's a sign that Europe's tech ecosystem is maturing, according to VC firm Accel. Europe's fintech boom is solving one of the biggest problems in the region's tech ecosystem, according to a new analysis: experienced founders. "Fintech has played a core role in the growth of the European tech ecosystem," Accel partner Luca Bocchio told Insider. The biggest producer of new startups, according to Accel, is N26.

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