Nonetheless on the lookout for proof that cryptocurrencies have arrived? The $170 million raised this week by Austrian digital asset neobroker Bitpanda is a testomony to each the surging curiosity in cryptocurrencies in addition to the vitality of fintech innovation within the CEE international locations.
Bitpanda’s Collection B spherical earned the corporate a valuation of $1.2 billion, giving Austria its first fintech unicorn. The Vienna-based firm, based in 2014 by co-CEOs Eric Demuth and Paul Klanschek, together with CTO Christian Trummer, plans to make use of the capital so as to add to the forms of investments obtainable on its platform, in addition to broaden to extra markets in Europe.
This newest funding spherical was led by Valar Ventures and featured participation from DST World. The spherical is greater than triple the quantity raised by Bitpanda in its Collection A financing again in September, which was additionally led by Valar Ventures (SpeedInvest of Vienna was an investor within the spherical, as nicely). The capital arrives the identical week that Bitpanda introduced that it had reached a new milestone of greater than two million registered customers on its Bitpanda and Bitpanda Professional platforms.
Bitpanda allows cryptocurrency traders and merchants to purchase, promote, save, and ship greater than 50 digital property together with Bitcoin and Ethereum. The neobroker additionally gives the world’s first actual crypto index and a Bitpanda Card that allows Bitpanda accountholders to spend their digital property as simply as they spend their money.
With FinovateEurope proper across the nook, we’ve received greater than a little bit continental fintech on the thoughts as of late. This week we take a fast take a look at fintech information from France, a rustic whose fintech business is usually neglected within the broader dialog on European fintech.
Earlier this week, we realized that Finovate alum Ledger was launching a brand new enterprise division devoted to profiting from rising institutional curiosity in cryptocurrencies. Headquartered in Paris and based in 2013, the corporate introduced that its Ledger Enterprise Options unit will assist enterprise adoption of the corporate’s core custody know-how, Ledger Vault, in addition to advise institutional shoppers on the subject of know-how implementation, safety, and governance of digital asset portfolios.
On the French fintech funding beat, PayFit, a payroll and HR platform launched in France in 2016, introduced that it has secured $107 million (EUR 90 million) in Collection D funding. The funding was led by Eurzeo Progress, Giant Enterprise, and BPI France, and featured participation from the corporate’s present traders Accel, Frst, and particular person investor Xavier Niel.
The corporate mentioned that the capital will assist assist its complete HR answer for SMEs and allow the corporate – which additionally operates in Spain, Germany, the U.Ok., and Italy – to “improve headcount from 550 to 800” by the tip of 2021.
PayFit serves greater than 5,000 small companies, and contains Revolut, Starling Financial institution, and Treatwell amongst its clients. The corporate skilled development of 40% in 2020 – a tempo PayFit anticipates doubling this yr – and credited a lot of this “hypergrowth” to the digital crucial introduced on by the COVID-19 disaster.
“Because of the pandemic, HR professionals have confronted a a lot larger workload and unfamiliar challenges,” PayFit co-founder and CEO Firmin Zocchetto mentioned. “They’ve needed to cope with numerous points, together with supporting the corporate’s administration with the implementation of distant work insurance policies and making certain worker wellbeing by new initiatives.”
Zocchetto mentioned that there are “tens of tens of millions of SMEs” which are prepared for digital transformation. “The market is big, and our ambition stays the identical: to turn into the purpose of reference for payroll and HR administration for all SMEs,” he mentioned.
Placing one other observe within the funding beat, French fintech Silvr introduced a EUR 3 million seed funding this week. The corporate, launched final yr by Nima Karimi and Gregory Tappero, offers financing for digital companies that can’t entry conventional financial institution financing and need to elevate fairness capital.
Silvr gives a revenue-based financing mannequin based mostly on the efficiency of the financed firm, an method that contrasts with each conventional asset-based lending and fundraising fashions. Karimi has mentioned that Silvr’s technique gives a brand new possibility for SMEs in France, calling it easier and extra clear.
Right here is our take a look at fintech innovation world wide.
Central and Japanese Europe
- SEON, a Hungarian startup helps corporations weed out false accounts and stop fraudulent transactions, secured $12 million (EUR 10 million) in funding. The spherical is Hungary’s largest Collection A funding thus far.
- Lithuanian fintech FINCI has gone stay with Temenos’ Funds and Transact core banking options.
- Estonian monetary providers firm LVH invested GBP 4.45 million in U.Ok.-based B-North, which is constructing a SME lending financial institution.