5 major FinTech fundraises in Europe in September 2023
By Gloria Methri
The rise of new FinTech start-ups, new-to-bank population, and technological advancements have paved the way for an upsurge in FinTech evolution. FinTechs are becoming mainstream with more investment made than ever before. Tracking FinTech investments provides a better perspective on the competitive and strategic trends in the industry.
Below are five notable FinTech funding rounds in Europe in the month of September 2023:
Curve, the financial super app, has raised an additional £58 million extension of its Series C round, bringing its funding total to over £133 million. The extension round saw participation from Britannia, IDC Ventures, Cercano Management (the venture arm of Microsoft co-founder and philanthropist Paul G. Allen’s estate), Cohen Circle, Outward VC, and other existing shareholders.
The new funds will be used to improve the overall customer experience, expand its Flex offerings, and bring new partnerships to the market.
London-based FinTech HyperJar has announced a $24 million Series A raise, which was led by Susquehanna Private Equity Investments, LLLP, and also included the Healthcare of Ontario Pension Plan (HOOPP).
HyperJar is a B2C digital wallet that has over half a million customers in the UK. The wallet helps people manage their spending intentionally using world-first tools. These allow for partitioning, sharing, and exceptional control of money, as well as access to unique merchant rewards.
GenTwo, a Swiss-based B2B FinTech platform specializing in securitization of bankable and non-bankable assets, has raised a $15 million Series A led by US-based Point72 Ventures. In conjunction with the investment, Pete Casella, Senior Partner and Co-Head of Fintech Investments at Point72 Ventures, joins GenTwo’s board of directors.
The company plans on using the funding to expand internationally and further develop the company’s financial engineering platform.
Akur8, the next-generation insurance pricing solution powered by Transparent AI, has closed a new funding round of $25 million, bringing its total funding to over $60 million.This latest investment round closed four years after Akur8 first commercialized its platform and introduced a new investor, FinTLV. Besides FinTLV, Guidewire Software, Inc. is also investing in this round, together with historical investor BlackFin Capital Partners.
European FinTech and embedded finance provider Swan has secured a €37 million Series B investment round led by Lakestar, alongside its existing investors. The funding will support the next stage of Swan’s continued internationalisation, which will include launches in the Netherlands in the coming months and Italy in early 2024. The company has already experienced growth across Europe, having opened offices in France, Spain, and Germany in line with its hyper-localisation strategy.
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