From a corporate finance point of view, we analyse the purchase of Captio - the Spanish startup that manages companies' business travel-related expenses - by Certify, the North American company that offers business travel management solutions, from a corporate finance perspective.
Find out about the latest major financing rounds in Europe in Fintech. In addition, we analyse the strategic agreement signed between Dominion and RSI to jointly develop their technology business for the financial and insurance sector.
Capital is increasingly being directed towards FinTech and InsurTech, and the number of M&A deals related to these sectors is growing all the time. We take a look at current investment activity in IT consulting for FinTech and InsurTech.
Billin, the Madrid-based company that offers an invoicing management platform dubbed "the dropbox of invoices", has closed a €1.5M investment round backed by Kibo Ventures, K Fund, and business angel Carlos González Cadenas.
Kantox, the fintech company that operates in the exchange of currencies for companies, has closed a €5 million round raised by its own shareholders. Co-founder and CEO Philippe Gelis confirmed yesterday that the round will bring the company closer to break even, which is expected to be reached "by the end of 2017".
Easy Payment Gateway, a payment and fraud gateway, has just closed an investment round of six million euros. This is the third round closed by the startup, which defines itself as a platform for managing and configuring all means of payment of a company, as well as all fraud tools.
Fintonic is an app that helps us keep track of our accounts, and the money going in and out of them. The company, which has a turnover of less than €1M, has just received the 3rd largest round so far this year.
In the first quarter of 2017, European startups in the fintech sector received 667M from venture capital, which is now almost 60% of the amount raised in the whole of 2016. Among the reasons for this growth are the support being given to early-stage fintech companies in the UK and changes to online payments across the EU.
The company will use the funding raised for its expansion programme in Latin America following the launch of its online financing service MoneyMan last year in Brazil.
BBVA continues to believe that a technological renovation of the banking industry is necessary to be able to face the new business models in the financial sector, although for the moment the results of its investees are not being satisfactory. Proof of this is that in February this year it expanded its fund to invest in fintech to $250M, has carried out 4 operations so far this year and has announced that it intends to invest in Latin America in a short period of time.
Technology in the financial sector is gaining strength and banks do not want to be left behind, proof of this is that we have recently learned that Santander has increased its fintech fund and BBVA has made a new investment through Propel.
BBVA had already invested in the Fintech sector in recent years as part of its transformation strategy to become the world's leading international digital bank. It has started 2016 strongly and has expanded its BBVA Ventures fund from $100M to $250M and has reached a management agreement with the US firm Propel Venture Partners.