Top 5 FinTech funding rounds that occurred in Europe in February 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 February 2023:
- Zopa raises £75 million
Zopa, the British peer-to-peer lender turned digital bank, has raised 75 million pounds ($92.40 million) from a group of shareholders. The funding will be utilised in meeting the capital requirements of the company’s growing balance sheet. It will also support the M&A dealmaking that could kick off as early as this quarter.
- Taurus raises $65 million
Taurus, the digital asset infrastructure provider for financial institutions in Europe, has raised $65 million in Series B capital from strategic investors. The round was led by Credit Suisse and included participation from new institutional investors such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, as well as from Series A investors, Arab Bank Switzerland, and Investis, a stock-listed real-estate group.
- Wefox secures $55 million
After raising $400 million in a series D funding last summer, InsurTech Wefox secured an additional $55 million from existing investors last month. The company, which focuses on ensuring profitability for InsurTech and FinTech companies, increased its valuation from $3 billion to $4.5 billion between 2021 and 2022.
The Bank of London raised $40 million in an extension to Series C investment, bringing the company’s total raise to $160 million. This fresh funding follows The company’s $90 million Series C round, which was completed in the fourth quarter of 2021, demonstrated its investor interest and growth trajectory.
Carbon credit transaction network Carbonplace raised $45 million in a strategic round of investment and formed its own entity. Carbonplace, which connects buyers and sellers of carbon credits through their banks, secured the seed funding from the financial institutions which founded the FinTechs: BBVA, BNP Paribas, CIBC, Itaú Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC, and UBS. Through the investment, each bank shares equal equity ownership in the new company which is expected to launch its platform later this year.
Also read: Global Lending Vendors & Landscape Report Q3 2024IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage
Other Related News
December 06, 2024