German challenger bank for freelancers Kontist raises Series A funding

Berlin-based neobank startup Kontist has raised an undisclosed amount in a Series A funding round led by Haufe Group, with participation from Founders, a Danish venture builder the startup was initially built out of. Together with Haufe Group, Kontist plans to launch a “co­-creation lab to build integrations for different financial products to help small […]

British “get-paid-as-you-go” service Wagestream lands £4.5 million

The UK-based fintech startup Wagestream that provides an alternative to payday loans by giving employees access to their earned wages any time, has secured a £4.5 million funding round from QED Investors, Village Global, London Co-Investment Fund, and others. Wagestream claims to be the first service of its kind to be accredited by the FCA […]

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 […]

London-founded personal finance management startup Cleo raises $10 million

The UK-based Cleo, a digital finance assistant targeting millennials, has raised $10 million in a round led by Balderton Capital, with participation from LocalGlobe. Founded in 2016, the startup has attracted a total of $15 million and is now set to launch a range of financial products. Cleo’s platform allows users to connect their bank […]

Swedish payment provider Klarna acquires Close Brothers Retail Finance to strengthen its positions in the UK

Swedish-founded fintech scale-up Klarna has acquired Close Brothers Retail Finance (CBRF) from the UK-based merchant banking group Close Brothers. CBRF is a retail financing provider that claims to be working with more than 600 active merchants in the UK, including Samsung Electronics, Mothercare, GAME, Jessops, Ebuyer, Emma Mattress, Cotswold Outdoor, and Victorian Plumbing. CBRF’s financial […]