Iceland-founded Meniga acquires Swedish rewards platform startup Wrapp

Meniga, an Iceland-founded company that offers digital and marketing products for banks, has acquired Stockholm-based rewards platform Wrapp. The two companies have been offering a similar product, that is transaction-driven rewards, in Iceland (Meniga) and Sweden and Finland (Wrapp) but will now merge the offering under the Meniga brand. The amount Meniga has paid for Wrapp […]

UK-based fintech startup Revolut receives European banking licence

The challenger bank Revolut has just become an actual bank by securing a European licence, which it applied for through the Bank of Lithuania. The company plans to start offering protected current accounts, overdrafts, and loans in early 2019. Thanks to the EU’s “bank passport” system, the licence received in Lithuania allows Revolut to offer […]

German blockchain banking startup Bitwala raises €4 million

German-founded blockchain banking service Bitwala has raised €4 million in funding from the venture capital firms Earlybird and Coparion. Bitwala is a crypto-friendly banking startup that offers its clients bitcoin debit cards, operates a bitcoin wallet service, and facilitates money transfers with SEPA and SWIFT by exchanging cryptocurrencies to more than 20 fiat currencies in […]

Paris-based SME banking startup Qonto raises €20 million

French business banking startup for small and medium enterprises Qonto has raised €20 million in a round led by its existing investors Valar Ventures and Alven with participation from the European Investment Bank Group. Qonto is essentially a “challenger bank” for businesses, from freelancers to small companies. Customers signing up for an account receive a […]

UK fintech firm Revolut raises $250 million at $1.7 billion valuation

Revolut, a digital banking company, has announced a $250 million funding round at a $1.7 billion valuation led by Chinese firm DST Global. Other participants in the Series C round include Index Ventures and Ribbit Capital, bring the fintech company’s total funding to $340 million. The London company develops a mobile-based current account for transferring […]

Swedish fintech company Trustly acquired by Nordic Capital

Swedish fintech company Trustly has been acquired by Danish fund Nordic Capital. Neither party has officially disclosed any figures but the Financial Times reported that the value is around €700 million. Nordic Capital has bought a majority stake in the fintech company from previous backer Bridgepoint Development Capital in the UK, which was the largest […]