Nonetheless searching 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 varieties of investments accessible on its platform, in addition to increase 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 effectively). The capital arrives the identical week that Bitpanda introduced that it had reached a new milestone of more than two million registered users on its Bitpanda and Bitpanda Professional platforms.
Bitpanda allows cryptocurrency traders and merchants to purchase, promote, save, and ship greater than 50 digital belongings 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 belongings as simply as they spend their money.
With FinovateEurope right around the corner, we’ve acquired greater than just a little continental fintech on the thoughts nowadays. This week we take a fast take a look at fintech information from France, a rustic whose fintech trade is usually ignored within the broader dialog on European fintech.
Earlier this week, we discovered that Finovate alum Ledger was launching a brand new enterprise division devoted to profiting from rising institutional interest in cryptocurrencies. Headquartered in Paris and based in 2013, the corporate introduced that its Ledger Enterprise Options unit will support enterprise adoption of the company’s core custody technology, Ledger Vault, in addition to advise institutional purchasers as regards to expertise 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 current 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.Okay., and Italy – to “improve headcount from 550 to 800” by the top of 2021.
PayFit serves greater than 5,000 small companies, and consists of Revolut, Starling Financial institution, and Treatwell amongst its prospects. The corporate skilled progress of 40% in 2020 – a tempo PayFit anticipates doubling this 12 months – 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 said. “They’ve needed to cope with varied points, together with supporting the corporate’s administration with the implementation of distant work insurance policies and making certain worker wellbeing via new initiatives.”
Zocchetto mentioned that there are “tens of hundreds of thousands of SMEs” which can be 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.
Hanging one other word within the funding beat, French fintech Silvr announced a EUR 3 million seed investment this week. The corporate, launched final 12 months by Nima Karimi and Gregory Tappero, offers financing for digital companies that can’t entry conventional financial institution financing and wish 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 said that Silvr’s technique gives a brand new choice for SMEs in France, calling it easier and extra clear.
Right here is our take a look at fintech innovation around the globe.
Central and Jap Europe
- SEON, a Hungarian startup helps firms 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 live with Temenos’ Funds and Transact core banking options.
- Estonian monetary providers firm LVH invested GBP 4.45 million in U.Okay.-based B-North, which is constructing a SME lending financial institution.