Home Blog Page 10

Weekly Brief on the Top 50 Fintech ranking in Europe

By
Lea Servans
-
0

Every week, Invyo Insights analyzes the changes of the 50 most valued Fintech across Europe in various verticals: lending, payment, investment, etc. In this weekly brief, our insights focus on the new unicorns and new players that made it to our Top 50. 

Even if British financial start-ups play a key role in our top 50 ranking, other European fintech succeed in positioning themselves and take strategical place in the ranking. Three fintechs draw our attention: Transferwise, Ivalua and Worldremit.

Weekly update – 04/06

Note: the market is moving fast so the data is set to change rapidly. Our research team is doing its best to maintain the ranking up-to-date.

Transferwise

Founded in 2011, Transferwise is a UK platform which makes global money transfers faster and easier at low cost. The fintech fundraised $292M in order to expand its services abroad and hire more employees.

Further to those investment, Transferwise ranks fourth in our Top 50 ranking with an approximate valuation of $3.5B. Nowadays, Transferwise registers 5 million customers worlwide and is transferring 5 Billion of money orders every month..

Find out more here 👉 https://transferwise.com/fr

Ivalua

Established in France in 2000,  Ivalua is a spend management software. This firm raised $70M so as to speed up its growth. The fundraising leads the fintech to a valuation of around $1 billion. Therefore, Ivalua is considered as a french unicorn which has an increased profitability. Ivalua is ranked 16th in the TOP 50.

Discover more here 👉 https://fr.ivalua.com/

Woldremit

Worldremit is a fintech that enables people to send money to their contacts, particularly in emerging markets. The company raised $175M at 900M+ valuation. After this funding, the firm ranks 17th.

Learn more here 👉 https://www.worldremit.com/

Discover more about the European fintech ranking: https://bit.ly/2UUX48y

 

Weekly Fintech Radar: Revolut’s ID, Russian Power, Revolut Youth and other news

By
Lea Servans
-
0

Our platform Invyo Analytics daily tracks thousands of start-ups worldwide and allows companies to automatically monitor market trends and opportunities.

This week, our tool caught Revolut on its radar given the rise of positive and negative hype around the unicorn. Here is a wrap up on what is happening right now around Revolut:

Access more data in Fintech

Register here for FREE

🌟 Revolut’s ID 

Revolut was founded by Nikolay Storonsky and Vlad Yatsenko in 2015 and is well-known for its online payment solution.

Company Profile as seen on Invyo Analytics

With Revolut, both individuals and companies can easily and quickly transfer money and pay anywhere in the world, and can open a secure and mobile-only current account to manage money.

This London-based company offers several banking services including a pre-paid debit card (MasterCard or Visa), cryptocurrency exchange, peer-to-peer payments and currency exchange.

More recently, the company released a multi-currency account for small and medium size companies.

 

🌟 Key numbers

  • 4.9M users located in more than 30 countries
  • 350M transactions all over the world
  • 25 currencies
  • France is the 2nd biggest market for Revolut

🌟 Company Digest

News #1: Brexit

Revolut has been seeking more licences not to be impacted by the Brexit. In 2017, the fintech applied to a Lithuanian licence.

News #2: Russia

The Lithuanian Parliament is concerned about the link between Russia and Revolut, fearing a “political vulnerability” to Russian power. The licence could be cancelled if the suspicion become true.

News #3: Compliance

Revolut is under the radar of the Financial Conduct Authority (FCA). According to the regulator, the fintech suspended one of its tools for monitoring suspicious transactions during three months in 2018.

The shutdown of a compliance mechanism to detect money transfers that could violate regulatory obligations lasted several months. The FCA is vigilant with neobanks as money laundering and terrorism financing can highly happen during a system’s failure.

News #4: Hard Working

Revolut is also known for its hard working conditions. Many employees are said to be exposed to high pressure. Several of them decided to resign.

News #5: New features

Revolut is still well known for releasing new features at an impressive path. Examples include the vaults collaborative or Apple Pay. Recently, the company said it was looking to attract new types of customers and could soon launch Revolut Youth, a new app for younger customers.

Revolut faces legal challenges but those issues don’t discourage the fintech from continuing its activities and being ambitious.

🎁 Discover more about fintech HERE

 

The State of Insurtech in Spain

By
Lea Servans
-
0

Invyo is getting involved in the Global Summit Insurance for Innovation (GSII) in June the 13th-14th 2019, one of the most important summit in Europe addressing top trends in the insurance and tech industry.

Insurance leaders are facing strategic and operational challenges and rush to build an integrated customer experience that brings together their value propositions across multiple touchpoints, distribution channels and customer segments.

With this event, our team made a short video to give you an overview of the state of the Insurtech Ecosystem in Spain:

Key takeaways:

Download PDF

Through INVYO Analytics, we identified that Spain is currently hosting 166 Insurtech, with more than 50% of them being created in the last 5 years. Firms are mainly located in Barcelona and Madrid.

To date, the Total fundraised by Spanish Insurtech is estimated at around €357 million.

More than 50% of Spanish Insurtech are specialized in the Health & Medical sector. New trends are emerging such as P2P insurance or fraud detection.

Discover below some rising Insurtech start-ups:

🌟 Elma care

Elma was founded in 2017 in Barcelona. Elma Care is an Insurtech that wants to make medical services more available and more reachable.

With Elma Care, clients can receive diagnosis and advise via chat, phone call or video call.

Discover Elma Care 👉 https://elma.care/

🌟 Coverfy

Coverfy was fonded in 2016 in Barcelona. The company allows anyone to manage their insurance policies directly from their mobile. Coverfy is part of the TOP 10 Barcelona Start-ups ranking

Discover Coverfy 👉: https://www.coverfy.com/

🌟 Bdeo

 Created in 2017, Bdeo is a Spanish Insurtech that uses artificial intelligence so as to manage car and home accidents. This fintech uses several technologies as augmented reality, AI or geo-tracking video to simplify the claims process.

 

Discover Bdeo 👉 http://www.bdeo.es/en/

 Discover more about the European fintech landscape: https://invyo.io/

 

Bank Insurance Summit

By
Xavier Gomez
-
0

In few weeks, Vienna will be the place to be for Financial services. SME Banking Summit & Insurance Summit will be organized by EFMA from 13 to 14 June 2019.

These two summits are prerequisite for financiers as they gather the global and largest network of banks around the world. Indeed, more than 3000 financial institutions are members (chaired by Citi). Therefore, the summits represent a great opportunity to create connections among decision-makers in the financial services ecosystem (bankers, insurers, Fintech, regtech…).

So these events are the must-attend annual event that focuses on the challenges facing financial services landscape :

For Insurance Summit, Optimization, Transformation and Innovation will be the main themes. During this event, attendees will discuss about the question of digitization. What does this revolution mean for insurers in areas such as cyber risks, artificial intelligence, robotics ? Bringing together, leading insurance business minds will share their insights on the hot topics for today’s insurers while looking at how the industry will develop towards the year 2040.

REGISTER NOW

(Get a 15% discount with INSINVYO19)

Topics of discussion at the Insurance Summit will include:

• How will the insurance world develop towards the year 2040?

• In what ways will millennials interact in the future?

See agenda for full event details (Insurance Summit)

For SME Banking Summit, SMEs have more complex financial needs than ever before. Banks are harnessing data so as to better understand their SME customers and creating innovative products and services to meet their unique requirements.

REGISTER NOW

(Get a 15% discount with SMEINVYO19)

Topics of discussion at the SME Banking Summit will include:

• Non-financial, value-added services and freemium offers to boost loyalty and create new revenue streams

• Microfinancing, micro segment customers value proposition

• Cross-functional approach:

• SME business owners as premium banking individual customers

• cross-selling opportunities for insurance products: pension plans, insurance product offerings

See agenda for full event details (SME Banking Summit) :

 

 

Invyo Insights is glad to come to this event as a media partner. We will forward you with daily live news so that you can follow the best of SME Banking and Insurance Summits if you did not have the chance to come directly to Vienna to attend the event.

Weekly Brief on the Top 50 Fintech ranking in Europe

By
Lea Servans
-
0

Every week, Invyo Insights analyzes the changes of the 50 most valued Fintech across Europe in various verticals: lending, payment, investment, etc. In this weekly brief, our insights focus on the new unicorns and new players that made it to our Top 50. 

Who said that the Brexit is an obstacle for the fintech industry in the UK? Brexit could certainly have an impact in the long run but it doesn’t prevent foreign investments into British Fintech start-ups.

Greensill and Checkout are two great examples. Those two fintech raised huge amounts of money from various investors so as to develop their services or enter new markets. Investors have also shown growing interest for fintech coming from other countries such as Pleo and Klarna.

Weekly update – 23/05

Note: the market is moving fast so the data is set to change rapidly. Our research team is doing its best to maintain the ranking up-to-date.

Greensill

Greensill is a London-based fintech that mainly unblocks capital to fund Supply Chain’s companies all over the world. This start-up raised $800 million from the japonese group Softbank. Further to those investments, Greensill ranks second in our Top 50 ranking with a valuation of 3.5 billion!

Discover here: https://www.greensill.com/

Checkout

On thursday, the 2nd, Checkout, a digital platform which enables companies to trade with a huge variety of payment instruments, raised a $230 million funding (from Insight Partners and DST Global). This fundraising leads the company to a valuation of around $2 billion. Nowadays, Checkout is one of the largest fintechs in the UK in terms of valuation (the 8th in our ranking). Therefore, a lot of experts consider this fintech as a major player in the UK.

Discover here: https://www.checkout.com/

Pleo

Pleo is a danish fintech that digitises business spending by offering smart payment cards for employees. Pleo raised $56 million (mainly from Stripes). Thanks to the fundraising, Pleo is one of the most influential fintech in Europe.

Discover here: https://www.pleo.io/en/

Klarna

Klarna is a swedish global tech bank on a mission to make payments and shopping as smooth as possible. In April, Klarna fundraised $93 million from existing investors such as Sequoia Capital. Nowadays, the fintech is valued at $3.5 billion and is ranked third of the Top 50. 

Discover here: https://www.klarna.com/us/

Discover more about the European fintech ranking: https://bit.ly/2UUX48y

 

Key takeaways from Bank+FinTech 2019 in Barcelona

By
Xavier Gomez
-
0

Invyo Insights had the great pleasure to attend Bank+FinTech 2019 in Barcelona organized by finance organization EFMA.

We are happy to share with you few trends that were discussed during the event. The event also highlighted successful use cases of bank and fintech collaboration.

FinTech partnership with banks is becoming a reality

Many banks in the audience confirmed their effort to bring closer their innovation department with their venture arm.

Benoit Legrand, Chief of Innovation & CEO ING Ventures at ING Bank, shared a pragmatic and open approach to fintech partnership, from nurturing fintech to taking equity stakes in fast growing start-ups.

New initiatives undertaken by banks

Since the financial crisis, most Western banks have been preoccupied by old-fashion ways of reducing their costs.

Since then, several new business models have emerged. As an example: 14 European banks created We.Trade, a shared trade platform built on DLT enabling companies to trade seamlessly, simply and trustfully.

Bridging the gap between banks and social applications

As millennials spend hours on social applications, banks face a new challenge: How can they engage with this important segment and become an inseparable part of users’ social and digital lives?

Standard Chartered and PayKey shared their journey to implement an innovative Social Banking Solution that transforms users’ mobile keyboard into an effective channel for corporates in finance.

Lastly, we noticed that banks find it much easier to innovate in their non-core functions. This sounds natural given the regulatory scrutinies and overall risk-aversion of these players, weakened by strong IT legacy.

To conclude

The Bank+Fintech conference geniunely demonstrated that banks and fintech start-ups still have a lot to learn and do to better serve end customers.

 

1...91011...47Page 10 of 47

POPULAR

EDITOR CHOICE

Discover Open Future World – Use case

Team Europe -
0
Open Future world use case
What is Open Future World? Open Future World is the leading source of information about open banking, open finance and the open future.  Championing progress...

POPULAR POSTS

POPULAR CATEGORY

© Invyo 2019