Only three years after launching in Switzerland and Germany, and one year after starting operations in Austria, insurtech business wefox has announced its entry to the Italian market, continuing its focus on European expansion. Insurtech combines personal consulting with state-of-the-art app technology, providing solutions to meet the changing needs of customers, brokers and insurance companies.
HypoVereinsbank, first in Germany to support trading transaction via the blockchain-based platform we. N26 introduces Spaces, a new feature that gives users maximum flexibility to organize their money. By enabling users to instantly move funds to their personalized Spaces and back to the main account, N26 gives customers total flexibility and control over how they organize their money and keep track of multiple financial goals. We offer a hedging platform for non-insurable risks embedded in a B2B ecosystem, bringing together risk management units and institutional investors in a blockchain based p2p approach supported by AI and an internal token.
Competitors are mostly startups that have the aim to disrupt the insurance industry or innovate the way of risk handling. In some cases big player in the insurance business start own initiatives aswell, like B3i, that can be competitive. Marcus Schmalbach developed the idea in the course of his doctoral thesis. Using the possibilities of new technologies as drivers to make non-insurable risks tradable fascinated and still fascinate the entire team. Our journey and the launch of our MVP and pilot was not easy. It was about a new approach of risk transfer, bringing together a new product and a new customer base — but we have successfully mastered it.
Two family offices have invested in us and our idea. What we have learned? I think we are just at the beginning of our learning curve. I am interested in the impact AI will have on companies and the calculation of goods with a special focus on stock exchange and insurance business. The world is in a continuous upheaval as far as digitization is concerned.
Many innovations have already been introduced, but the developments are constantly progressing in a very exciting environment. Stay hungry, stay foolish. Do not close yourself off from changes. Munich-based Fintech Givve sold for 20 Million Euro. Sparkasse to take on Google Pay with new app. FinLeap establishes Fintech platforms for expansive financial cooperation. We provide a single integration point for corporates to connect with to be able to collect and pay out money in any market, any currency, via any technology with any partner.
Dutch, lived across Europe. Done academic research on blockchain and crowdfunding. DN investments in remittances, instalment loans, factoring. Five Degrees , a Netherlands-based fintech, announced on Thursday it has acquired Libra, a provider of core banking IT systems in the financial sector in Iceland. Five Degrees reported that the acquisition boosts its international growth ambitions, enabling the company to offer its full-service proposition of digital banking solutions, supporting financials worldwide to meet modern standards.
Bayern Kapital invest in Munich-based FinTech wealthpilot. Das Finanztechnologie-Start-up hat eine zweite Finanzierungsrunde erfolgreich abgeschlossen. Neben dem Neuinvestor Bayern Kapital hatten sich aber auch die Altgesellschafter beteiligt. More than seven years now. I am a growth-oriented payment and loyalty expert and have been working for credit card companies as well as for consulting firms. I prefer direct and open contact with my team and partner companies — and I like to wear colourful clothing.
We differentiate ourselves through our vertical domain expertise and deep corporate network, particularly in the European financial services market. The round, which brought total funding to approx. The round was led by Breega capital, with the participation from Speedinvest, a Fintech venture capital fund. Neben den Online- bzw. Two FinTechs, one goal: Wie das Unternehmen am Donnerstag mitteilte, wurden bei einem festen Angebotspreis von 80 Euro je Anteil The next question is: Below is a four-step framework to help you choose the right next market s.
Ein Online-Service zum Anfassen? As a FinTech, Sibos is the event for you to meet and connect with banks and financial institutions from around the world. Join us in Sydney from October 22nd to 25th as an exhibitor in the Discover Zone or simply attend on a special FinTech delegate pass. The Berlin-based FinTech startup kapilendo www. Together with the existing shareholder, the Berlin Dental Association pension fund, the new investor, Axel Springer Media for Equity GmbH, is investing 6 million euros in the company. Congratulations and best of luck to kapilendo, with presented at the 7th FinTech Forum Apr.
KfW supports platform as conceptual sponsor. Alternative form of municipal financing diversifies creditor structure und allows for citizen participation. Partnership begins 11th July at www. The reason for the sale is a stronger focus on the core business of comdirect bank. Renner wird bei FinLeap Portfoliounternehmen des Insurtech-Bereichs strategisch und operativ begleiten. Today, worldwide, over 1. We continue to add new partners to our programme, particularly in the financial services sector.
Right now, we are working on expanding our FinTech offer. In , we launched a platform to introduce our FinTech partners to our members: And that is only the first step. The FinTech segment is really outstanding. You can hardly find another market where there is so much movement. I personally think the current paradigm shifts are fascinating. The opening of the market will lead to an even stronger creative boost in financial services development.
Services that link financial services much stronger to individual lifestyles, for example. Our members will enjoy such innovations. I guess by saying incumbents you mean the traditional finance and banking industry? The opportunity is to learn from eachother, to take a much more collaborative approach to services development and product offer. The challenge is to manage this collaboration having completely different cultures and ways of working. It has taken several years, but today, there are signs of cooperation in Germany. To get to this point, both sides had to learn.
In the beginning, the FinTechs attacked the financial industry, while traditional banks ignored the FinTechs or talked them down. In the meantime, however, the industry seems to be on the right track and in the end, it is above all the customers who benefit from this.
There is room for traditional financial services providers as well as FinTechs and for some sort of amalgamation of the two. In my opinion, the best way forward is based on cooperation. And indeed it needs to be clarified who will be maintaining the customer relationship. However, in the end, the customers will win. They will benefit from more diversity and financial offerings based on state-of-the-art technology. I am a fan of podcasts.
Thus I am listening rather than reading. That being said there was once quite recent book that I really enjoyed: Entertainingly written and with great insights into arguably the most influential companies in the west right now. Started my career at Deutsche Bank 2 yrs. Euro an Finanzierungen zu schaffen. As a bank-backed banking app, we have traditional banks as well as other neo-banks as potential competitors. But former are more expensive and still mostly non-digital and latter experience regulatory entry barriers for Switzerland. We, the founders, all worked at the same consulting company for many years and worked together on several projects in the area of digitalization in financial services.
During this time, we recognized the big opportunity there is in Switzerland and started to realize the strong potential of digital and mobile banking. After some intense discussions, we decided to leave our current careers and start our own company in this field — neon. This year we closed our seed round of 1. In fundraising, it was key to actively build new and strengthen existing relationships. Never underestimate the learning effect you and your team can experience during the funding process.
Of course, the concept of open banking like neon uses is very interesting as well but I think this might only be a first step for the industry. Right now, we are doing the obvious — embedded in an ecosystem, providing banking services in a more efficient and better way excelling the existing incumbents. But banks could provide so many more service — incl.
This also creates totally new markets. Probably the biggest opportunity for FinTech startups in Europe is the increasing collaboration firstly between FinTechs and traditional financial services and secondly among FinTechs. There are a lot of FinTechs solving very specific problems — for example within peer-to-peer payment — which need platforms and partners to spread.
On one hand, it helps startups to connect with other startups and on the other hand to connect with investors and partners with deep sector-knowledge and experience as well as broad networks.
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Von klassischen Krediten und Nachrangfinanzierungen von kapilendo bis zu Leasing und Factoring von abcfinance. With this move, the Berlin-based technology company is extending its range of services and will form a technological and regulatory bridge between the worlds of banking and blockchain. This will make solarisBank the specialised infrastructure partner of choice for companies in the cryptocurrency and blockchain industry.
Apart from our HQ in Zurich we have our development team out in London doing an amazing job of delivering on our vision and empowering our clients. Insurtech Coya receives license from German regulator. Im Labor der Bank von morgen: Komuno — launch of digital platform for municipal loans. Together, they have developed a solution that enables local authorities and capital providers to make optimum use of digital technologies in their lending activities. Euro in die Digitalisierung zu investieren. We are an orchestrator of transaction instructions. We are thus a middleware that we license to companies.
Our closest competitor in terms of approach is SafeCharge and not Stripe, as many people will immediately think. Yes, we have an aggregation of services focus i. This is critical to succeed with corporates that are not e-commerce. Our startup is less of an idea and more of a pivot. We had a different product in the market where it was critical that we can do real-time payments and no insurer could support us with that.
Without that functionality customers were no longer willing to buy the product we were selling so we built the real-time payment component ourselves. That elicited great interest form insurers to use in other parts of the business and that is how Imburse was created as a pivot that was a response to a different pain point. We spent about 15 months refining our understanding of these pain points and enhancing our solution to better address that pain point. We then officially launched the product in October m raised angel financing in Jan and are now pushing it into the market.
First, we as cofounders financed the startup and its running costs. When we know what our pipeline looked like and the requirement this meant in terms of resources employees and financial we raised an angel round. We leverage angel investors because for our start-up having the right mentors and network form our target markets and verticals was more important than more money. We chose our angel investors for what they can bring to Imburse and this has proven very successful for us.
Our learning was that knowing the problem you are solving really well should help you identify the need you have i. Then you develop your fund-raising strategy accordingly in terms of amount and setup and then go into the market and execute that. We said no to basically all VC meetings and discussion because we would not take VC money at that point, making it very high-quality discussions with interested parties for the meetings we had and allowed us to turn around the round very quickly and with a high quality of investors.
This area is still evolving but has a massive potential to contribute to better customer value and automation. I believe that Continental European startups are generally much further developed on the product side that American counterparts. They also generally understand the problem a bit better and how they will grow the company to best serve that need. Thus I believe Continental European startups provide a great selection quality of companies with great products. The problem is that I feel that Continental European startups have nearly no ambition. They all want to be the best in their market single country or maybe the best in Europe.
No one wants to be the best in the world and really disrupt things. This is something European startups can use some support to see the problem on a global scale and aim to develop truly scalable solutions. Make absolutely sure, and be totally honest with yourself, that you are passionate about what you are doing. Rather pivot or look for that special thing and execute that than think your idea is good enough and someone will buy it. Also be clear, from the beginning, whether you will build to scale or to sell. The round was co-led by Zurich Insurance and Finch Capital.
Digital Insurance Group is an insurtech company providing a data-driven insurance platform that enables insurers, banks and other companies to offer fully integrated insurance solutions to their customers. Geospin , a Freiburg, Germany-based machine learning software startup, raised a seven-figure seed funding round. The platform enables companies to objectively identify geographical success factors and apply them in a targeted manner. Give me a glass of wine, good cheese and a nice setting and you will find me in happiness. In a second part of the Series A, the old investors of the fintech incubator Finlab, the controversial financier Peter Thiel and the Austrian entrepreneur Falk Strascheg shoot after.
Intesa Sanpaolo has invested in Oval Money, the budget management app launched by the former CEO of Uber Italy, and sourced a new distribution network at tobacconists across the country. The terms of the acquisition were not disclosed at this time. Deutsche Bank has teamed up with Allianz and used car marketplace Auto1 to set up a new firm offering financing and insurance to vehicle dealerships.
Having built up a successful online marketplace where dealers can buy used cars, Auto1 is looking to move into the fintech arena to make it easier for buyers to purchase on its site. The Concardis Payment Group is continuing to expand its management team: With the money, Coya hopes to establish its footprint in its first market — Germany — before expanding to the rest of Europe. The three founders convinced the existing investors plus Hevella Capital as new investor with their vision to further develop its sustainable growth path.
The startup gives customers choice in how to pay for purchases, be it in full or in instalments, now or later. For merchants, cashpresso helps to convert more traffic to buy more. Alior Bank will provide multicurrency accounts with international transfers and deposits, while solarisBank will provide the banking infrastructure; Raisin, via its network of partner banks, will provide savings and investment products for the digital bank. Die Maklerplattform sucht neue Investoren.
The initial product was launched in Today, N26 operates in 17 European countries and already employs over people. At an event in Berlin, the company announced a revised version of N26 Metal. Er soll helfen, die bisher eingeworbene Gesamtsumme von 36 Mio. All in all the portfolio offers over 50 different products chosen by up to more than 1.
Thus adding partnerships in banking, insurance, savings, investment and since FinTech. Besides the products of our partner, mileage promotions and explanations about these existing new business models a BLOG was added, giving us our own voice in the FinTech industry. Born and raised in India for the first half of my life, and lived in 7 countries over the second half. It took N26 only nine months to grow from , to 1 million. And the company now plans to have 5 million users by Fintech start-up Revolut grabs 2 million users and plans to launch commission-free trading service.
UniCredit today announced that it has signed a strategic partnership with Meniga, the global leader in digital banking solutions. The collaboration was announced during the European Money conference. Nordic payments processor Nets and German-based merchant service provider Concardis are to merge in the latest in a series of transactions in a rapidly consolidating market. German insurance group Allianz and Deutsche Bank have partnered with Berlin-based car exchange Auto1 to offer auto financing using blockchain technology.
British fintech has announced a major round of financing. Commerzbank taps IoT data to adjust loan repayments for capital equipment. The study by e-foresight Swisscom shows a pleasing trend: In , not only did the number of deals increase, but the respective volumes also increased. Der Zahlungsdienstleister Wirecard ist am 4. Nun kommt sie nach Deutschland. Decimo was founded in by Andreas Dubrow and Philipp Kalwies. The young factoring company supports freelancers, self-employed and small to medium-sized companies in the field of pre-financing. It provides consumers with a secure way to buy and protect bitcoin and other cryptocurrencies.
Also, some previously unknown private investors participate in the financing round, in which a total of one million euros flow to the Berlin startup. The company wants to help its users save money. It reminds users of expiring contracts and suggests alternatives. More details on www. Scalable Capital is a digital investment service founded in , with offices in Munich and London. It uses proprietary software to offer portfolios which are dynamically optimised with a primary focus on risk management.
State-of-the-art technology enables the company to offer a first class investment service, previously only available to large institutional investors, to individuals at a fraction of the cost. Allianz is investing millions more in the digital wealth manager Moneyfarm to tap into new, younger audiences for their funds. MoneyFarm is an independent financial services provider that offers online financial advisory and execution services in Italy and the United Kingdom.
The company enables its users to manage their money in an efficient way and offers a unique service in Europe that provides personal advice on ETFs and trading activity.
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The Berlin startup car insurance Friday receives its insurance license. The young company can now independently offer its car insurance. The Swiss insurance group Baloise is behind the young platform, which is headed by Christoph Samwer. It will provide a total of 50 million Swiss francs around 46 million euros for development. The bank will open its office in Frankfurt am Main. BondIT uses machine learning algorithms and data science to enable fixed income advisors to make superior recommendations, improve client engagement, manage risk better, speed trade execution and meet compliance regulations easier.
The Munich-based company is developing digital products that allow users to be authenticated on the mobile or computer, such as the N26 digital bank. So far, savings banks as well as the Volksbanks and Raiffeisenbanks offer separate services to quickly send money to other users via smartphone or to request it. From June, the banking groups now want to team up and offer their services under the common brand name Kwitt , which the savings banks had already introduced in The Rhenish shopping startup Shopco was taken over by the Swedish payment giants Klarna.
The startup, founded by Jay Habib and Manuel Schoebel in , has developed a software that is supposed to simplify shopping on the net considerably. Unlike comparable solutions from Visa or Paypal, Shopco does not rely on a programming interface, but on artificial intelligence that automatically scans the products in the online shops visited by the user.
Numbrs Personal Finance has won Axa Deutschland as a distributor for its financial app. PumaPay has developed a PullPayment Protocol, which aims to bring crypto payments in the daily life. Peltarion provides a collaborative, graphical cloud platform for developing, managing and deploying deep learning systems at scale.
Goldman Sachs will enter the private customer business in Germany. With Marcus, the US investment bank is focusing for the first time in its year history on the private customer business. The platform was launched in the USA in , initially offering only consumer credit. My name is Frank Ackermann. We are an experienced team with roots in investment banking, corporate finance and credit risk management.
Compeon brokered mortgages amounting to more than EUR million in the first quarter. Founded in , Brickblock is building a smart contract platform to allow users to sell and invest in tokenized assets. The launch is targeted for the fourth quarter of , subject to regulatory approval. The offices in Westend are already rented. The management team is already in place. The German money institution wants to integrate by acquiring new applications and third-party products faster and better in their systems. Alexa von Bismarck now responsible for the Germany business of the global payment service provider Adyen.
As Country Manager, she replaces Volker Steinle, who will continue to serve in the company. Professional and institutional investors are able to find sustainable investments on the platform which meet their individual selection criteria. Registration on the platform allows project initiators and issuers of such investments to obtain access to relevant investors. We are very much at the forefront of combining FinTech technology with sustainable investments. If at all, competition comes from traditional placement agents.
In , we came across the SDGs and realised, that there is a huge demand for sustainable investments and very interesting projects looking for funding. But there was no systematic way for investors and project initiators to find each other. With our automated matching platform, we solve that problem in a very efficient way. So, in our case, the business was already existing at AHP. Very unusual for a start-up: Here is a hint: It is not the automatization of the execution of transactions and it is not the automatization of investment advice.
I think you are already doing a good job by arranging events and getting people together. A question we would like to see addressed more is what do institutional investors expect from the Fintech ecosystem? Find a new problem that needs to be solved by talking to the market participants who have that problem. Berlin-based startup simplesurance, a leader in the InsurTech industry developing an insurance service platform, receives 24 Million Dollars in the final Series-C Round.
Lead investor is Allianz, who has started a financial and strategic partnership in https: Helaba launches Digital Investor — Target: RatePay ging an den Start. Und warum der Blick auf Lifestyle Apps wichtig bleibt. Die Solarisbank mischt den Finanzplatz auf. Digitalisierung in der Buchhaltung bedeutet vor allem, dass die Buchhaltung automatisiert wird. Alongside with Chan, Kreditech has also been appointing top talent across several other roles in its leadership ranks.
It uses blockchain to allow experts worldwide to collaborate. Covee uses blockchain to allow experts worldwide to collaborate. Sparkasse Bremen is currently informing its Yomo users about the official exit and announcing the accounts according to the GTC. They had great experiences and learned a lot, but after the beta phase, they did not want to be on board with Yomo anymore. This is especially related to the new paid current account models that have recently been introduced.
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Customers can switch to a normal account of Sparkasse Bremen upon request. Six years after founding the crowd investment platform Companisto starts the th round of financing. Upto 50 million euros have been invested over the platform. It has registered more than 83, small investors. BITA is the first professional index and data provider in the digital asset space. We develop, calculate and disseminate real-time indexes and proprietary datafeeds covering the digital asset universe cryptocurrencies and digital tokens. Our focus is in providing the right infrastructure and data to institutional investors interested in entering this new asset class.
Funnily enough our current competitor would be Bitcoin, as right now all investments are benchmarked against the currency. All the founders of BITA have a both a background in the indexation, exchange or quantitative industries, as well as previous experiences in the venture space. For months we were monitoring the evolution of the digital asset market, and realized that the right conditions were still not given for institutional investors to allocate capital. So far we have been funded through business angels within our network.
From this and previous experiences as an entrepreneur and VC, I would advise startups to start early, to not underestimate the amount of hours required, and to try to build a strong network as this is way more effective than cold emailing or calling. Blockchain is definitely an interesting area, due to the implications on several business models.
The other two would be artificial intelligence as a way to automate processes, as well as tokenization as an efficient way to securitize different types of assets. Brexit will give additional relevance to any initiative coming from Continental Europe. Not only banks and institutions will increase the presence in the region, but regulators will push for more infrastructure and business to be dealt from within.
This opens a lot of fresh opportunities for startups in both the B2B and B2C space. I think fostering a very strong community of Fintech startups in the region is very important to increase cross-fertilization and joint ventures between startups. It is also important to build more bridges between European startups and American and Asian investors. Dedicate a lot of time into the definition of your business model and your USP.
I have met a lot of startups that already months into their venture are still not sure on how to monetize and how to create a compelling argument for selling their products and services. It is also important to validate your business model with prospective clients from early on. Clark aims to help clients manage insurance contracts, identify insurance gaps, and close deals with mutually beneficial offerings from cooperating insurance companies.
In addition, the user can deposit his insurance data and, in the event of damage, manage and execute corresponding notifications via the app. The Munich-based fintech startup develops APIs for the sharing of financial and customer data in compliance with PSD2 and open banking regulations. BlackFin is an entrepreneurial investment platform solely focusing on financial and insurance services in Europe. For its technology, Fintech has now received just under four million euros in its Series A. We believe that international trade is a key driver for development around the globe.
There, both companies bundle their digital and industry expertise on this topic. A total of 60 experts from the two partners are available to customers from the insurance industry to develop and implement individual digital strategies and business models. Lendity, the specialist for investment solutions in alternative lending and in the private debt area, issues a bond with which investors can invest in SME and consumer loans from various crowdlending platforms, among other things. There are more and more investment products on crowdlending loans. Several investment products containing securitized crowdlending loans have already come onto the market in recent months.
Smartsteuer promises to complete the tax return online as quickly and easily as possible. The Hanover-based start-up has already been enabling browser-based recording of the relevant tax data for several years.
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ING-DiBa now offers its customers the possibility to complete tax returns quickly and easily online. Bank Startup N26 wants to hit the black in two years The Berlin Internet bank N26 wants to reach the profit zone with its million dollar cashinjection. Much of the recent million euros collected by investors flow into the growth of existing markets and are mainly invested in the development of the workforce.
The financing was anchored by Swedbank Robur, with participation from Northzone. The Qapital app includes Qapital Savings for short-term savings goals, and Qapital Spending to be used as a checking account with the Qapital Visa Debit Card, which is overlaid with budgeting tools like the Qapital Weekly Spending Target. Qapital Invest, a robo investment product, will be added to the experience soon. Alan is a licensed digital health insurance provider.
It is a primary insurer and distributes its own health plans directly to companies and individuals. Alan has already covered more than 7, people at companies. Tell us a bit about yourself. I have been investing in early-stage technology ventures for over 15 years now, having previously worked for Doughty Hanson Technology Ventures and Earlybird. I have invested in a number of tech, b2b and b2c companies. I was the first VC to invest in SoundCloud and served 5 years on its board.
Currently I work with our portfolio companies etoro, Marqeta, Mambu, and Omnyway. But in an interesting turn of events, it appears that the suspected exit scam was nothing more than a poorly thought-out PR stunt. May thousands of start-ups, entrepreneurs and investors from all of Europe to build new networks, existing to deepen cooperations and to support their own entrepreneurs through an intensive exchange of experience with experts and to bring forward comrades-in-arms. VIVA Technology offers you an ideal opportunity to to establish direct contact with young entrepreneurs from other countries.
Dirk Wasserthal junger-mittelstand bvmw. It is obviously difficult to get the Germans used to paying by mobile — Vodafone is now ending their attempt. Vodafone is not the first mobile operator to try to revolutionize payment in Germany with a digital wallet. There are a lot of coworking spaces in Hamburg, but this one is different. Finhaven is due to celebrate its opening in HafenCity this year. Swiss fintech startup Contovista makes banking data driven — now also internationally.
Contovista is renowned in the Swiss banking industry. Already for years the startup successfully collaborates with different banks helping them to roll out their digital transformation strategy. The application form is available for download here. Questions should be directed to bewerbung fintechgermanyaward.
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Fidor, an innovative provider of digital banking services, today signed a Memorandum of Understanding MOU with IFC International Finance Corporation , a member of the World Bank Group, to identify opportunities to expand digital banking services in Africa and Latin America to boost financial inclusion.
Fintechs from the UK are exploring the framework conditions and opportunities on the German market, focusing on the Rhine-Main region and in particular the Frankfurt location. Read the complete article here. Microcredit serves the unbanked or under-banked markets of Africa, Asia or South America as the source for investments into innovation and entrepreneurship. GIZS, which was founded by the Sparkassen-Finanzgruppe for participation in paydirekt, the online payment method of the German savings banks and banks, will be run by Henning vorm Walde 38 as of 1 May Schwab wants to face new challenges at its own request, it is said.
Tomorrow does not have its own banking license. All banking services are provided by Berliner Solarisbank, which is under the supervision of Bafin. In June, customers should be able to access a mobile checking account and a debit card as a first step. Later, a comprehensive financial platform will emerge, offering, for example, the opportunity to invest in ecological funds.
The cheapest credit branch of Germany has opened and is a response to the keen interest of our own customers to be able to be advised locally by our loan specialists. In addition, this year, with an average interest rate of 2. According to the interest rate statistics of the Deutsche Bundesbank in , this was 5. Fundamental Capital, based in Germany, is an online asset manager specializing in using algorithms to help individuals invest in securities.
IOB seeks to back regulated and compliant Blockchain based companies. This will help promote an international ICO standard. The startup was started by Hanno Pingsmann. InsurTech Neodigital insurance was founded in December and took only eight months to obtain BaFin approval under section 8 I of the Insurance Supervision Act for property and casualty insurance. Now the digi tal insurer is launching the marketing of insurance products via independent sales partners.
First, private liability, animal owners liability, household effects and accident should come. The aim of the cooperation is to offer small companies and freelancers an uncomplicated and simple all-in-one solution for banking and accounting processes. Read the event report. The startup Spendit receives four million euros as part of a current round of financing, said the company based in Munich today.
Spendit specializes in digital employee benefits. The online asset manager Fundamental Capital from Willich near Dusseldorf wins the US company Crypto-VC IOB as an investor in order to strengthen the further development of the technology and the market presence of the startup with the capital increase. Genossenchaftsbanken German cooperative banks let Alexa speak. FinTech successfully concluded a financing round of EUR , To this end, the company wants to develop a system with which the securities processing can be carried out more efficiently. With the new system, the processes should be faster, more transparent and therefore more efficient.
The year-old Hamburg-based bank M. This is what investment director Christian Jasperneite says. The investment volume of ETFs has risen steadily in recent years. The digitalization of the financial industry is accelerating this trend. Now, the Stuttgart Stock Exchange wants to expand the service offering by a service as part of a cooperation. It is the first cooperation of a stock exchange and a digital asset manager.
It is aiming to be the first non-anonymous, non-volatile cryptocurrency. The Switzerland-based company believes there needs to be a balance struck between the privacy of its users and the responsibilities of regulators. Saga will use a formal Know Your Customer KYC banking process for every participant, which immediately makes it unique. To date, Fintech Weltsparen has brokered overnight and time deposit accounts for EU banks. With the help of Vanguard, ETF depots are now also available.
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The UK Fintech startups selected to pitch were mainly from the enterprise software space. Rafe Courage, who outlined the status of London as a pre-eminent global financial center, and the need to further collaboration around FinTech and financial services across the Channel. Launching the startup pitches — each startup had seven minutes to present and three minutes for questions and answers — was Uzair Bawany of Traydstream.
Traydstream is designed for banks and corporates involved in the provision and receipt of trade finance, offering Software as a Service SaaS that digitises and automates the critical processes of transaction document scrutiny. Traydstream have uniquely digitised the tribal knowledge of international trade rules and compliance requirements to offers complete transaction management and end-to- end document checking on-cloud or on-premise. Second on stage was Trunomi presented by Adrian Sturley.
Trunomi provides customer consent and data rights management technology which enables businesses to request, record and immutably prove the legal basis for processing personal data. They enable businesses to comply with EU GDPR, ePrivacy Regulation and global data privacy regulations by putting in place auditable immutable records to prove lawfulness basis of processing of customer data. Third up was Privitar , presented by Kristin Waeterloos.
Privitar is an enterprise software company headquartered in London, with a global client-base across North America, Europe and Asia, leading the development and adoption of privacy engineering technology enabling our customers to innovate and leverage data with an uncompromising approach to data privacy. Previous investors include Illuminate Financial. Fourth to present was Charlie Henderson of Feedstock. For busy financial services professionals, FeedStock automates time-consuming, non-revenue generating tasks such as logging consumption of research for MiFID II, mapping productivity and inputting data into CRM systems.
The panel, moderated by Dr. The panel brought in valuable perspectives from banks Ms. Christian Nehk, Barclays , a global accelerator Mr. Steffen Seeger, Advisory Partner, Digitalplus. The fireside chat with Ms Nancy Kalogeropoulou Country Manager UK at Fidor Bank revealed the peculiarities of the German market, unexpected similarities between markets, and lessons learnt from both the perspectives and approaches — Funding Circle entering Germany via the acquisition of ZenCap, and Fidor Bank expanding organically into the UK.
Meniga , presented by Michal Bezak, helps financial institutions who want to increase engagement via their digital channels and find new revenue sources by monetising data. Meniga offers white-label Digital Banking and Marketing solutions that have helped more than 60 financial institutions in over 20 countries and with over 50 million end-customers.
This was followed AlgoDynamix , presented by Mike Hamm. AlgoDynamix risk analytics provide hours or days advance warning of major directional market movements. Unlike other solutions, the underlying technology does not require any historical data or knowledge of any previous disruptive events. Their Global customer base including Tier 1 and tier 2 asset managers and investment banks including major reference customer in Frankfurt.
Next up was Vincent Him presenting Duco. The proliferation of data formats and volumes are causing big issues in enterprises, who spend billions dealing with the resulting problems. Their SaaS solution, Duco Cube, is used by some of the largest companies in the world, including international banks, exchanges, asset managers, hedge funds, administrators and service providers.
He was followed by serial entrepreneur Oliver Blower, presenting VoxSmart. This is also relevant for Mifid II call recording requirements. After a coffee break, Mr. Thorsten Heinen Director, Bankhaus Metzler provided an engaging history of the location — the Haus Metzler in Frankfurt-Bonames, dating back to — owned by the Metzler family which founded Bankhaus Metzler in The penultimate startup on stage was Limitless , presented by Judit Bogos from Hungary.
For financial institutions banks, insurers and asset managers who want to attract and offer relevant product for Millennials, Limitless offers a white-label, micro-investment app. Furthermore, they provide advanced analytics of our end-users including purchase intent.
They have launched a B2C, savings only version in the Netherlands not core business, no marketing budget with a few hundred users, have one pilot starting in April in Finland and a full implementation in Poland. The final startup on stage was Prophis , presented by Charles Pardue. For originating and investment groups with exposure to portfolios of granular assets e. The final section of the event comprised expert presentations that provided a comprehensive overview of the German financial services and FinTech landscape, and how UK FinTech innovators can enter the market.
Apart from an overview of the German FinTech scene, VC investments and key FinTech hubs, she shared valuable insights based on primary research on how the market is expected to develop in the next five years, the threat from GAFAs Google, Apple, Facebook and Amazon etc. Last — but not the least — was the session from Dr. Anna Lucia Izzo-Wagner and Mr. After a note of thanks and concluding remarks, Mr.
Michael Mellinghoff invited the audience to networking drinks. N26 is building a retail bank from scratch. Raisin adds ETF portfolios to its German product offering. Starting today German customers can access the new products online — and thus participate in the performance of capital markets in a diversified manner. With the product launch Raisin enters the retail investment segment as a second pillar beside its leading savings products offering. I have more than 10 years experience in management and marketing as well as 6 years in Digital Payments.
I am a fan of Zenit St. Petersburg FC and prefer to play football when I have a time for this. Helaba wants to use the Value Concepts fintech to improve the placement of promissory notes. The Austrian energy provider Verbund is the first company to issue a promissory note on the new platform. Robin Buschmann turns his start-up Giromatch from a credit marketplace to a technology provider.
His new client is Degussa Bank. From there, the German-speaking market should be rolled up. This will be done through a partnership with SumUp and iZettle. The FinTech Innolend, which was launched in , failed completely silently. According to Trustly, Nordic Capital will support the payment platform in its mission to become the leading global online banking payments provider.
Those are our crucial advantages relative to the in-house teams of developers which is our primary competition. Multiple payment products can be built on SDK. In addition, our clients get the full flexibility to customize and manage their own solution through our APIs. Prior to starting SDK. Being in the shoes of a Fintech Entrepreneur we encountered the whole range of challenges in fundraising, business development and regulation.
Those areas effectively took all our time and resources. But another big challenge for a FinTech entrepreneur hides in product development since the cost of retaining IT talents is incredibly high. Even more difficult is to find a team which has a decent experience in digital payment software development. A business owner or manager can focus on the business tasks while we take care of the IT part. We like to compare FinTech entrepreneurship with Formula One World Championship where there are two competing grounds: So, it was the dawn of SDK.
We are devoted to building a long-term value rather than earning quick cash, which was not always the top priority for investors we were negotiating with. Since the foundation of the company in , we have made five releases of our product and won clients from four different continents. Machine learning used to prevent fraud in payments and e-commerce is the area worth increased attention.
Another important area encompasses cross-border instant payments and building value-added services on the top of that architecture, like e-Invoicing. There are so many areas that need improvement beyond finance and banking. I think insurtech and pension-tech should be the areas of particular interest. Most of the time it turns out to be quite the opposite. The new offering follows the launch of a strategic partnership between PayU and Kreditech announced in May to deliver a joint proposition for cardless EMI.
The partnership saw EUR million investment from PayU in Kreditech — the largest ever equity investment in a German fintech company. Wirecard, the leading international specialist in digital financial technology, is issuing debit cards for TransferWise, the London-based international money transfer company, which can be used alongside its digital, limitless online account. Chatbots are now conquering the banks too. He is responsible for the operating Concardis GmbH, around which Advent and Bain are currently forming a new heavyweight in the European payment market. Netto wants to offer its customers throughout Germany the opportunity to pay even more comfortably and above all in a timely manner.
The startup plans to build an open, decentralized blockchain operating system for retailers and business transactions. The digital asset manager Liqid claims to manage more than million euros. This milestone was reached less than 18 months after market entry, reports the Berlin Fintech. Liqid should now belong to the largest independent Robo consultants in Europe — but with some distance to the German market leader Scalable from Munich. Payslip provides software that simplifies and reduces the costs of managing a global payroll for businesses with employees in multiple jurisdictions.
Its cloud-based software-as-a-service SaaS platform includes functions that enable clients to meet General Data Protection Regulations. The company intends to use the money to expand into Scandinavia and Spain, among others. BNP Paribas has launched a new investment fund to take direct minority stakes in innovative startups that are reinventing financial services and insurance. Global payments platform Inpay announced it has acquired postal payment network Eurogiro.
The company reported that it will continue to bring innovation and growth opportunities to Eurogiro members. Founded in , Inpay describes itself as a regulated and licensed Danish FinTech company with 50 employees, specializing in the provision of white label cross-border payment services. For some days now, a still young German company is trying to do that: Fintura has given up earlier this month. Why did Fintura fail? Blockchain-based supply chain enhancement platform VeChain has entered into a partnership with the German car manufacturing giant BMW.
Last year was a record year for the company, with worldwide sales growth of 42 percent year on year. In addition, Klarna is pleased about 26, new dealers and 19 million new users. Twelve years after the company was founded, around 89, online shops in 14 countries rely on the newly licensed Swedish bank and benefit from the innovative payment solutions. I was born and raised in Belgrade. Went to school in Switzerland. I like to read books, take long walks and hang out with friends. I love wine tasting and visiting nice restaurants.
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I also play the violin. We knew that business banking was awful. But before we set out to build Penta, we wanted to get at least businesses to sign up on our website as validation. We started Penta on a couch with our laptops. Raising money is really difficult. It sometimes feels like going on a date, only to get rejected again and again and again. And a painkiller is usually something helps people save a tremendous amount of time, effort and money. This is especially important in banking.
Always aim for the painkiller, not a vitamin. Choose your team wisely. The Fintech -startup Payworks gets German-based startup Gabi, headquartered in San Francisco, has completed the second round of financing within a year. Lydia is the leading mobile payment app among French millennials. Giro is expanding its role as a digital service provider for banks. The user has to answer to start a few questions and then gets a selection of suitable account managers displayed.
The cooperation with the industry leader of the German savings banks is now to succeed the step over the Alps. Compared to established banks the acquisition of a customer according to data from the industry roughly is between and euros cost, in some cases even more. Speculations are in the costs per customer may have risen dramatically. Derby Nottingham Forest Fierce rivals share spoils in scrappy game. Find every story Catch up with all the latest as it happens.
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