5 FinTech funding rounds reported in Europe in December 2023

By Gloria Methri

The rise of new FinTech start-ups, new-to-bank population, and technological advancements have paved the way for an upsurge in FinTech evolution. FinTechs are becoming mainstream with more investment made than ever before. Tracking FinTech investments provides a better perspective on the competitive and strategic trends in the industry.

Below listed are five notable FinTech funding rounds announced in Europe this month:

• Updraft raises £272m 

Updraft, a UK-based consumer lending FinTech, announced the closing of a £250 million forward flow arrangement with Jefferies and Santander Corporate and Investment Banking to help UK households move away from expensive credit cards and overdrafts. The closing of the arrangement allows Updraft to build on its momentum from 2023 into 2024, helping customers on a path to debt zero with clear pay-off routes.

• Liberis raises $112m

Embedded business finance specialist Liberis has secured $112 million in debt financing to support its growth in North America and Europe and expansion into new markets, including Canada, Poland and Germany.

This strategic collaboration will inject a substantial sum of $112 million from HSBC Innovation Banking and BCI Capital across its European and North American divisions.

• Scalable Capital raises €60m

Scalable Capital, a digital investment platform in Europe, has announced the closing of a €60 million equity financing. This extension of the series E round was led by European venture capital firm Balderton Capital with participation from HV Capital’s new growth fund and existing investors.

The funding will be used to deliver further growth and to capitalise on Scalable Capital’s position as a provider of easy and cost-effective investing solutions for retail clients.

• Meniga raises €15m

Meniga, a provider of Personal Finance Management solutions to some of the world’s largest banks and financial institutions, has raised €15 million in Series D funding.

The new investment round included major European banks, Groupe BPCE and Crédito Agrícola, and Icelandic VC group Omega ehf, with participation from several existing shareholders. The total funding in Meniga to date amounts to €55 million.

• Banxware raises €15m

Berlin-based embedded lending provider Banxware has raised €15 million in its latest equity round and gained major Italian bank Unicredit as an investor. Unicredit was joined by Sella Investment Banking, along with existing shareholders 13books Capital, VR Ventures, D4 Ventures and Force Over Mass, who also contributed to the funding.

Banxware currently enables 30 platforms in Germany and the Netherlands to offer financing to their business customers.

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