by Florin Oprea
Having doubled revenues and slashed losses last year, Swedish mPOS outfit iZettle says that it is preparing for a potential IPO.
FAO: iZettle is present in 12 markets across Europe and Latin America and its rapid customer acquisition increased its revenues to EUR66.8m in 2016, up 60%, while losses decreased by 23%.
Jeff Blumenthal – Philadelphia Business Journal
SEI agreed to pay $80 million plus growth earn-outs of up to $8 million based on financial targets to take over Indianapolis-based Archway Technology Partners.
FAO: ATWeb is Archway’s proprietary technology. It’s a web-deployed application that simplifies operations, management and reporting.
Romain Dillet – Tech Crunch
French startup PayFit just raised a $15.9 million Series B round (€14 million) from Accel with Xavier Niel and Otium Venture also participating.
FAO: A total equity funding of $21.49M was raised by PayFit since its launch.
Rob Price – Business Insider
A number of UK fintech startups encountered technical issues on Thursday, warning customers that their payments may not go through.
FAO: The problem that hit Monzo, Revolut, Loot, Starling Bank, and Curve, among others, was caused by a supplier that provides a part of their underlying technology.
Maria Konash – Coinspeaker
Curve provides one card that can aggregate all of their existing Mastercard and Visa payment cards and lets you retroactively switch the card you use to pay.
FAO: How cool is that?
Sarah Dunsby – London Loves Business
Cashplus (through its parent company, Advanced Payment Solutions Ltd) has announced a 6th consecutive year of profitable growth, with a 28 per cent uplift in revenues and 36 per cent increase in profit.
Alan McIntyre – Forbes
A few years ago, it was fashionable to say that a revolution was coming in the world of banking. Fintech evangelists harkened back to Bill Gates’ 20-year-old quip that “banks are dinosaurs” and claimed that the asteroid strike that would wipe them out was now imminent.
FAO: Because banks need to change and startups need to scale up…
The Swap Execution Facility (SEF) of NEX Group, NEX SEF Limited (NEX SEF), went live on 3 July 2017.
FAO: Good luck! Happy trading!
Samuel Agini – Financial News (subscription)
Hirander Misra made his name the first time Brussels shook up Europe’s trading landscape. Now he is looking further afield.
FAO: Profile of Hirander Misra, Chairman & CEO of GMEX Group. Yesterday we reported that the group closed a deal with Midclear which selected GMEX Technologies to provide and implement AvenirClear CCP product as the core system of the first CCP in Lebanon.
Via PR Newswire – LendingClub announced Kenneth Denman as the newest member of its Board of Directors. Effective June 28, 2017, Denman joined as a Class One director and will serve on the Audit and Compensation Committees.
Barry McCall – The Irish Times
It was almost inevitable that Dublin would emerge as the hub of a thriving fintech sector in Ireland.
Estonia has carved out a niche as a startup hub and a friendly environment for foreign businesses. Its biggest innovation, however, lies in e-government.
FAO: Profiles for two of Europe’s fintech strongholds: Ireland and Estonia. Good progress all around. Europe has to do a lot more although only to reach the development pace of fintech in Asia. See article below and also the coverage in our previous editions, at least here and here.
John Detrixhe – Quartz India
When it comes to the adopting the newest, digital methods for managing their personal finances, Chinese and Indian consumers are way ahead of the rest of the world. A report by consultancy EY suggests that a lot of this has to do with digital payments.
FAO: Good to see John Detrixhe’s work again, this time in the fintech space. I remember at least a gazzillion of John’s articles back in the time I used to work for Exchange Invest, the daily newsletter focusing exchange space.
Cromwell Schubarth – Silicon Valley Business Journal
Dave McClure’s sudden departure from 500 Startups amid shocking stories of sexual harassment is going to be a test of fire for the high-profile startup accelerator. We explore three big questions his resignation raises.
FAO: And the coverage on this week’s shocking topic keeps rolling.
Marisa Kendall – Silicon Beat
Elizabeth Yin, a serial entrepreneur who joined 500 Startups as an investor in 2014, is resigning effective Friday.
Erin Griffith – Fortune
While the rest of America watched fireworks and ate BBQ, the citizens of Startup Land spent the July 4th holiday weekend glued to their phones as push notifications about the industry’s sexual harassment reckoning rolled in.
Emily Bary – Barron’s
One payment processor offered $10 billion to buy a smaller one – reported yesterday. The news that Vantiv was buying London-based Worldpay has investors suddenly thinking about other combinations.
FAO: Like in so many other cases.
Jasper Jolly – City A.M.
The chairman of Nex Group has reimbursed the company out of his own pocket for political donations targeting Liberal Democrat MPs at the General Election after major shareholder representatives objected.
FAO: Case reported the other day. Everything settled now? No more business-politics mixing in the future?
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News