5 Major FinTech fundraises in Europe in January 2024

By Gloria Methri

The rise of new FinTech start-ups, and new-to-bank population, have paved the way for an upsurge in FinTech evolution. The European region provides huge opportunities for FinTechs due to the scale of the market and technological advancements.

FinTechs are becoming mainstream with more investment made than ever before. Tracking investments provides a better perspective on the competitive and strategic trends in the industry.

Below listed are five notable FinTech funding rounds reported in Europe in January 2024:

• hyperexponential raises $73m Series B

hyperexponential, the pricing decision intelligence (PDI) software expert, has completed its $73 million Series B funding round led by technology-focused investment firm Battery Ventures, with participation from a16z, and existing investor Highland Europe, which increased its holding.

hyperexponential serves insurance and reinsurance companies in the property-casualty insurance industry, which protects individuals and businesses from a wide array of risks.

• Bumper secures $48m

Bumper, the FinTech company that enables flexible payments for car repairs, has closed a $48 million Series B financing, to accelerate its growth.

Bumper helps drivers split repair bills into interest-free installments. It ensures that car owners can cover the costs of repairs or maintenance more easily and flexibly. At the same time, it allows dealers and repair shops to offer their customers digital payment methods that help them do business and increase profitability.

• Billink raises €29.5m

Billink, the Netherlands-based Buy Now Pay Later (BNPL) solution, has raised €29.5 million from the German Varengold Bank. The payment provider will use the funding to expand its offering to the largest Benelux web shops, enter the German market, and make buying online fairer, for both consumers and web shops.

Of the €29.5 million raised from Germany-based Varengold Bank, €4.5 million is directly committed.

• ZILO raises $27m 

ZILO, the UK-based FinTech specialising in global asset and wealth management software has secured £25 million ($27m) in its recent Series A funding round. The oversubscribed fundraiser was co-led by Fidelity International Strategic Ventures (FISV) and Portage, with participation from State Street and Citi.

The Series A funds will be utilized to further accelerate product development, drive user acquisition, and grow ZILO’s position in the FinTech sector.

• Vertice raises $25m Series B

Vertice, the integrated SaaS, and cloud spend management platform, has announced a $25 million Series B following a year of revenue growth. The company has now raised a total of $51 million since January 2022, upping its valuation into the hundreds of millions. Vertice will use the capital to further fuel its pace of product innovation and accelerate its worldwide expansion.

83North and Bessemer Venture Partners, the lead investors in the company’s Series A, have returned with $25 million in additional funding.