BCN FinTech’s Post

🔥 🚀 This Week in Barcelona FinTech News (16 Apr update) 🗞 Here are the 6 biggest news stories about fintechs in Barcelona: - 🌐 Revolut's New Tech Hub in BCN: Revolut has inaugurated its first global digital hub in Barcelona, creating a new workplace for over 300 tech talents. The company landed and started recruiting in Spain in 2022, and Ignacio Zunzunegui, Director General in Spain, explains the decision with the sucesss they had with hiring in Barcelona: "The Catalan office managed to attract more technological talent and that is why we now decided to take the step and establish it as a technological center." - 🤝 N26 Innovates Again: Great news for shared finances as N26 rolls out free joint accounts in Spain, making it easier for couples and families to manage their budgets seamlessly from their smartphones. All that is needed for two people to open a free joint account is for both to have their own existing N26 accounts. - 🌱 EALYX's Funding Success: EALYX raises €1M to propel its circular economy SaaS. Founded by Alex Corbacho, Pol Karaso Rius & Jaume Benet Marquès, the company provides a trade in solution for used products that gives instant discounts on new purchases. Co-founder Pol Karaso remarks, "This round of financing will allow us to accelerate product development, expand our reach and enhance the implementation of our solution in leading companies" 🌎 PayRetailers' Brazilian Milestone: This fintech has just secured a critical payment license in Brazil, further strengthening its presence in Latin America. This move marks a significant step in PayRetailers global strategy, enhancing services for Brazilian consumers and cross-border clients. 🏆 Flanks Wins Big: We’re proud to announce that local fintech star Flanks has been honored with the prestigious #WealthTech100 award for 2024, underlining its impact and innovation in wealth management technology. 🏛 Monei's Strategic Partnership: MONEI collaborates with Hacienda to streamline POS registrations, enhancing financial operations for SMEs. Alex Saiz Verdaguer, CEO of Monei, explained, "We take and extract [...] data from the Tax Agency using document reading technology and the user does not even have to write it. On the one hand, we have the information in a more reliable and secure form and, on the other, we facilitate the bureaucratic part, so that the client does not have to fill out endless forms." Barcelona continues to shine as a fintech hub, with each development driving us further towards innovation and global connectivity. Stay tuned for more updates, and we hope to see you at our next event on 📅 Wed 24 Apr 18:30. 👉 Get more info and your ticket here: https://lnkd.in/dRhVq7Pc /post led by Clemens Rychlik with the help of Pau, BCN FinTech's customized LinkedIn Post Maker GPT developed by Bourbon Creative. #bcnfintech #barcelona #fintech #news

My tech journey merged with the fintech ecosystem two years ago, and since then, I've gained incredible experience and insights. Reflecting on this period, I've observed remarkable trends shaping the future of finance. Here are some of my findings, insight and expectations: Non-fintech Companies Embrace Fintech Products: - Recently, non-fintech companies in retail, e-commerce, and logistics are integrating fintech solutions. - According to Juniper Research (2023), the embedded finance market will reach $138 billion by 2026. - Companies like Amazon Pay, Starbucks Rewards, and Uber Money are leading this trend. - This presents significant opportunities for embedded finance providers like my company Param Saving & Investment Fintechs on the Rise: - The economic crisis and inflation have sparked a surge in interest in stock markets and investment tools. - Deloitte (2022) reports a 20% increase in retail investors globally since the pandemic. - Fintech solutions like Midas, Robinhood, and Acorns are revolutionizing investment. - More individuals now own stocks and ETFs compared to pre-pandemic times. Regulatory Flexibility: - Governments are adapting regulations to foster fintech innovation. - The UK's Financial Conduct Authority (FCA) created a regulatory sandbox, as did the Monetary Authority of Singapore (MAS) and the Consumer Financial Protection Bureau (CFPB) in the USA. - PwC (2021) found that 60% of fintech companies see regulatory sandboxes as critical for innovation. Evolution of Payment Methods: - Traditional cards are being overshadowed by advanced payment methods. - Grand View Research (2023) projects the mobile payment market to reach $12.06 trillion by 2028. - Customizable cards like Curve, NFC, QR codes, and device-based payments (Apple Pay, WeChat Pay) are becoming the norm. Digital Subscription Management: - Managing digital subscriptions is becoming crucial. - West Monroe (2022) found that the average consumer spends $237 monthly on subscriptions. - Companies like Truebill, Subby, and Trim help users track subscriptions, saving money and providing control over finances. Personal Finance AI Assistants: - AI-driven personal finance assistants hold immense potential. - McKinsey (2023) reports that AI can improve financial outcomes by up to 15%. - AI assistants like Cleo, Emma - we are hiring!, and PocketSmith offer personalized financial advice and track spending habits. In conclusion, I can witness that Fintech ecosystem is rapidly growing and I am definitely satisfied to be one of the fintech creators and provide solid solutions to people with technology! #Fintech #EmbeddedFinance #InvestmentFintech #DigitalPayments #AI #FutureOfFinance #Innovation

🚀 Barcelona FinTech News Round-Up 🚀 It’s been a thrilling couple of weeks for Barcelona’s fintech ecosystem! Check out the top news shaping the industry between October 10-24, 2024: 1️⃣ Revolut Takes the Lead in Spain: With a staggering 19.8% share of new customer acquisitions, Revolut is outpacing traditional banks like BBVA, Santander, and CaixaBank, even if you include some of their own neobanking counterparts like Santander's Openbank or Caixa's imagin. What's more, even if you add up data for BBVA & Sabadell (assuming the former's acquisition plans of the latter succeed) - they'd still be behind Revolut. Revolut's growth, driven by innovative offerings like savings accounts with 3.56% interest, continues to revolutionize banking in Spain, bringing a breath of fresh air into the bank sector. 2️⃣ Bizum Expands with “Bizum Pay”: Bizum is moving into the mobile NFC payment space with the launch of Bizum Pay, thus rivalling mobile payment solutions of tech giants Apple and Google. As we reported earlier, Bizum is also set to enable cross-border transactions with Italy and Portugal through EuroPA. A significant step towards creating a pan-European digital payment system. Happy 8-year birthday to Bizum! 3️⃣ BBVA to Launch Stablecoin on Ethereum: Banco Bilbao Vizcaya Argentaria (BBVA) has announced plans to issue tokenized assets using Visa’s platform on Ethereum. The bank is set to launch stablecoins, tapping into the growing world of digital finance by 2025. 4️⃣ Fintech Dominates 2024 Startup Funding: Fintech is the top investment sector in Spain this year, making up 28% of all startup funding during the first 3 quarters of 2024. With €603 million raised so far, the sector is continuing to be one of the strongest in the country. Unsurprisingly, this has also led to increased interest from public figures and institutions in the local fintech sector. 5️⃣ Flanks Partners with RegData: Barcelona-based Flanks has teamed up with Swiss company REGDATA to bolster wealth data security through advanced encryption and tokenization solutions, ensuring seamless multi-cloud protection for sensitive financial data. Want to hear more about wealth tech? Our BCN FinTech Wed 27 Nov event will feature a top level expert from Flanks on a panel on wealth tech! More infos will be announced soon. These developments continue to strengthen Barcelona’s standing as a fintech powerhouse, with both local and international players contributing to the city’s dynamic growth. 👉 Join us next week on 🎃 Wed 30 Oct at 19:00 for our record-breaking, free Fintech Vermut & Networking event! Let’s celebrate and discuss these milestones together. Link in comments. #bcnfintech #barcelona #fintech #innovation #startups /post led by Clemens Rychlik with the help of Pau, BCN FinTech's customized LinkedIn Post Maker GPT developed by Bourbon Creative.

💭 Picture this: a world where businesses easily move money across the globe. Over 20 fintech startups from Y Combinator's W2024 batch are on a game-changing mission to make this a reality. That's more than 8% of the entire cohort—talk about breaking down barriers! Read this TechCrunch article to discover how these startups are empowering businesses and leveling the playing field globally 👉 https://lnkd.in/g45im5R8

Unlocking a $500 Billion Opportunity: How Fintech Startups Can Thrive As the financial technology (fintech) sector continues to evolve, startups are standing at the forefront of a remarkable opportunity, estimated to be worth around $500 billion. Driven by shifting consumer behaviors, technological advancements, and regulatory changes, fintech startups have the potential to reshape the financial landscape. Here’s how they can leverage this immense opportunity: 1. Embrace Embedded Finance Fintech startups can capitalize on the growing trend of embedded finance, which integrates financial services into non-financial platforms. By collaborating with businesses in sectors like e-commerce, retail, and hospitality, startups can offer seamless payment solutions, insurance, and credit directly within the consumer’s journey, which enhances user experience and drives revenue. 2. Utilize Artificial Intelligence and Machine Learning AI and machine learning are transforming the fintech landscape. Startups can leverage these technologies to enhance customer service, streamline operations, and improve risk management. By implementing AI-driven insights, they can provide personalized financial products tailored to individual consumer needs, increasing customer loyalty and satisfaction. 3. Tap into Open Banking Open banking is revolutionizing how financial data is accessed and shared. Fintech startups can innovate by developing applications that utilize APIs to integrate with banks and financial institutions. This transparency fosters competition, allowing startups to create more personalized and innovative financial solutions that attract tech-savvy consumers looking for customization and convenience. 4. Focus on Sustainability and Social Impact As consumers become increasingly concerned about sustainability, fintech startups can differentiate themselves by offering products that emphasize environmental, social, and governance (ESG) considerations. This includes sustainable investing platforms, green financing options, and tools that help consumers manage their carbon footprints. Aligning with these values can resonate with a growing demographic of socially conscious consumers. 5. Enhance Cybersecurity Measures With the rise of digital financial services, cybersecurity is paramount. Startups can invest in advanced security protocols to protect consumer data and build trust. By prioritizing cybersecurity, fintech companies not only safeguard their operations but also provide reassurance to customers, allowing for broader adoption of digital finance solutions. 6. Leverage Regulatory Technology (RegTech) As regulations in the financial sector become more complex, fintech startups can use RegTech solutions to streamline compliance processes. By automating compliance and reporting, startups can reduce operational costs and focus on growth while ensuring they meet evolving regulatory requirements. . . . #Radicalpay #Fintechcompany #startupcompany

We are thrilled to report that AuthPay, the leading fintech startup, has just secured a significant milestone in its journey towards revolutionizing the payment solutions landscape! In a remarkable feat, AuthPay has successfully closed a $450K pre-seed funding round, with Scope VC leading the charge as the primary investor. This substantial investment will fuel AuthPay's innovative growth strategies and cement its position as a frontrunner in the fintech sector. Established in July 2020, AuthPay is dedicated to providing businesses worldwide with secure and seamless payment solutions underpinned by cutting-edge technology and a steadfast commitment to customer satisfaction. Their platform streamlines transaction processing enhances security measures and delivers frictionless payment experiences for end-users. A standout feature of AuthPay's offering is its revolutionary intelligent wallet technology, which maximizes rewards for every transaction. Leveraging patent-pending artificial intelligence, AuthPay recommends the most suitable card based on factors such as merchant type, location, and existing loyalty programs, ensuring users derive maximum value from their purchases. This momentous investment from SCOPE VC underscores AuthPay's potential for disruptive innovation in fintech. It follows SCOPE VC's recent launch of a $45 million venture capital fund to fuel innovation in the fintech and gaming sectors. As a news reporter, I find it fascinating to witness AuthPay's remarkable progress and the endorsement it receives from industry leaders like SCOPE VC. AuthPay's commitment to innovation and customer-centricity positions it as a formidable force driving positive change in fintech. Congratulations to AuthPay and SCOPE VC on this momentous achievement! https://lnkd.in/gBgKpasW #Fintech #StartupNews #VentureCapital #AuthPay #SCOPEVC #Innovation #SmartWallet #AI #TransactionProcessing #LoyaltyPrograms

Daily research from FinTech Global Colombian FinTech investments surged taking four top 10 deals in H1 In H1 2024, the Latin American FinTech sector recorded 79 transactions, reflecting a sharp decline of nearly 58% from the 189 deals completed during the same period in 2023 and a 40% drop from the 131 funding rounds in H2 2023. Despite the reduced number of funding rounds, total FinTech funding in H1 2024 amounted to $1.2bn, representing a 20% increase from the $1.0bn raised in H1 2023 but a 29% decrease from the $1.7bn raised in H2 2023. This suggests a contraction in the number of deals, but with a focus on larger rounds. The top 10 deals in H1 2024 were distributed across four countries, with Brazil and Colombia each securing four deals, while Puerto Rico and Uruguay contributed with one top deal each. A notable shift was the increased prominence of Colombia, which matched Brazil with four top deals, compared to just the one in H1 2023. Brazil remains a dominant player, continuing its strong performance from the previous year, while Puerto Rico maintained a presence in the top 10 across both periods. However, Mexico, which had a top deal in H1 2023, was absent from the list in H1 2024, replaced by Uruguay. This change indicates a growing diversification in the Latin American FinTech landscape, with new countries emerging as significant players. Simetrik, a solution that automates financial and accounting control, had the largest FinTech deal in Colombia for H1 2024 after raising $55m in its latest Series B funding round, led by Goldman Sachs Asset Management. Simetrik has developed intuitive solutions to simplify and automate key financial tasks like record centralization, reconciliations, controls, reporting, and accounting. Its products are based on Simetrik Building Blocks (SBBs), a scalable, adaptable, and intuitive concept based on no-code development and generative AI technologies. Tailored to the dynamic needs of CFOs and their teams, these SBBs are set to further evolve with the Series B funding, enhancing their AI capabilities and reinforcing Simetrik’s dedication to advancing these solutions. Simetrik clients base includes large companies such as PayU, Mercado Libre, Rappi, PagSeguro, Falabella, Oxxo, Itaú, and Nubank, and partnerships with leading firms like Deloitte. The company’s global footprint spans over 35 countries, monitoring over 200m records daily, including in key Asian markets such as India and Singapore. Simetrik intends to use funds from this Series B to help expand its international reach, targeting major payment companies and consumer marketplaces worldwide.   Celcoin Simetrik Bold Addi Yuno Akad Seguros Kanastra CBiBank Prometeo NG.CASH

Fintech expansion At least 13 fintech startups, including well-known payment systems like WeChat Pay and Alipay, wealthtech company Lufax, and insurtech company ZhongAn Insurance, are based in mainland China. China's fintech ecosystem is largely controlled by a small number of strong businesses, in contrast to the West where the fintech market is more fragmented. These include Lufax Holding, ZhongAn, Tencent (owner of WeChat Pay), Ant Group (owner of Yu'eBao and Alipay), and Baidu's financing division, Du Xiaoman Financial. For the first half of 2024, mainland China and Hong Kong were home to half of the top 10 fintech deals in the Asia-Pacific region, according to KPMG. These days, China is regarded as one of the biggest fintech markets globally. Its domination is evident, with over 1.4 billion people and a fast expanding middle class. Before COVID-19, digital adoption was already high; under the tight pandemic regulations in the nation, e-commerce and initiatives to provide financial inclusion to small and medium-sized enterprises (SMEs) also flourished. For example, in 2023, Chinese retail web sales exceeded $2.1 trillion, which is twice as much as those in the US. In China that year, about one-third of all purchases were made online. By 2019, the use of fintech was already commonplace, with 87% of people who were online regularly utilizing at least one financial service. At least 90% of mobile payments are made using QR codes, making them extremely popular. Approximately 70% of users utilize WeChat Pay on a daily basis. Since 2018, China has also taken the lead in the world's fintech investment, with $25.5 billion invested in that year alone, a 900% rise year over year and more than half of all fintech investments made worldwide.

🚀 Big news for Barcelona’s fintech scene! SeQura has secured a staggering €410M in funding, combining equity and debt. This milestone will drive their expansion into key international markets—USA, UK, and Germany—and bolster their cutting-edge BNPL solutions for e-commerce. 🌍💳 CEO David Bäckström shared: “We are entering a stage of aggressive growth and need this capital to expand our structure and finance our customers with small loans.” [Translated] SeQura, founded in 2014 and headquartered in Barcelona, specializes in payment solutions for e-commerce. Their flagship product allows consumers to split payments for purchases (think BNPL), making shopping more accessible and flexible. Currently active in Southern Europe (Spain, Italy, Portugal, and France), SeQura aims to expand into three major international markets with this new funding. Remarkably, the company has been profitable since 2017 and expects to reach €96M in revenue this year—a 54% increase over 2023! 📊💡 With around 400 employees today, SeQura does not anticipate exceeding 500 employees in the near future. This aligns with their significant investments in AI and automation, which have streamlined many of their internal processes and operations. 🤖📉 As for the funds, not all of the €410M stems from VC funding; it's a mix of equity and debt, led by Citi and supported by M&G, Chenavari, and Svea Bank. A significant portion of the capital will go toward financing the small loans SeQura provides to customers, which is core to their business. The rest will support aggressive scaling efforts, particularly in international markets, as they aim to become a leader in fragmented payment systems globally. 🌟 Why this matters: 1️⃣ Despite a challenging funding climate, this is proof that Barcelona’s fintechs can thrive and scale globally. 🌐 2️⃣ It’s a testament to the city’s vibrant e-commerce and lending sectors, uniquely positioned to foster success. 🛒📈 3️⃣ This will generate opportunities—jobs, innovation, and a spotlight on Barcelona as a fintech hub. ✨ We applaud SeQura for following the trailblazing paths of companies like Kantox, Payflow, and Unnax. Here's hoping their international ambitions materialize and inspire even more growth in our ecosystem. 🌟 This news also gets us thinking...should BCN FinTech organize a LendTech panel soon? Who would you love to see included alongside SeQura? Let’s discuss! #bcnfintech #barcelona #fintech #ecommerce #BNPL #lendtech #startupgrowth /Post led by Clemens Rychlik with the help of Pau, BCN FinTech's customized LinkedIn Post Maker GPT developed by Hello Operator (formerly Bourbon Creative)

Form3, a UK-based fintech startup, recently raised $60 million in a Series C extension funding round, bringing its total funding to $220 million and its valuation to $570 million12. This funding round was led by British Patient Capital, with participation from existing investors such as Visa, Goldman Sachs, Mastercard, Barclays, Molten Ventures, and 83North12. Key Details and Statistics: Total Funding: $220 million12 Latest Funding Round: $60 million12 Valuation: $570 million12 Founded: 2016 by Michael Mueller and Mike Walters1 Key Investors: British Patient Capital, Visa, Goldman Sachs, Mastercard, Barclays, Molten Ventures, 83North12 Purpose and Utilization of Funds: The newly raised funds will be used to develop new products and services, supporting Form3’s growth in key markets such as the UK, Europe, and the US1. Form3 aims to revolutionize payment processing by providing a cloud-native, Payments-as-a-Service platform that enables financial institutions to connect to multiple payment schemes via a single scalable platform12. Impact and Reach: Form3’s platform is trusted by major banks and financial institutions, including Mastercard, Lloyds Banking Group, Ebury, LHV, PPS, N26, Square, and Aion Bank1. The company handles more than 50% of the UK’s non-cash payment volume and has doubled its processing volume globally in the last six to nine months2. Form3’s innovative approach replaces legacy software with a robust cloud-native infrastructure optimized for real-time payments, helping financial institutions accelerate their digital transformation12. Reference:- 1. UK fintech Form3 secures $60M to revolutionise future of payments TFN by Abhinaya Prabhu September 12, 2024 ( https://lnkd.in/eFR6b7zT ) . 2. Form3, a quiet giant in UK fintech, raises $60M at a $570M valuation, Tech Crunch, Ingrid Lunden 3:39 AM PDT • September 10, 2024, ( https://lnkd.in/eyNyRnnj) . Form3