TYCOONSTORY’s Post

Congratulations Max & Alexander (and the whole finmid team !) on coming out of stealth and announcing your € 35M financing rounds, led by Blossom Capital & us doubling down in your Series A. Providing credit to B2B customers is a complex undertaking. We’ve seen many new players enter the market – from traditional marketplace models to pure checkout solutions that applied the B2C lending experience to business customers. The TAM is enormous & hence the market has gained significant traction over the last years. However, in our view, traditional players and most of these newer challengers just compete on the basis of their distribution advantages, fully relying on economies of scale with their cost of debt over time. We've also closely followed the Embedded Finance wave over the last few years at Earlybird Venture Capital, and in particular the potential of Embedded Lending for marketplaces and platforms to extend credit to their customers, with clear customer retention and LTV benefits accruing to the platforms. The model turns the traditional static risk assessment (i.e. KYC scoring) of lenders and inverts it, as the Embedded Lender’s biggest underwriting advantage is its ability to extract signals that are highly predictive of loan performance from proprietary data furnished by marketplaces & platforms. finmid is emerging as the key European infrastructure provider in this market, already servicing leading marketplaces such as Wolt, through which customers can seek credit via a single click of a button. We think the future of B2B lending is embedded & this is just the start... With: Earlybird Venture Capital, Nina Mayer, Ophelia Brown, Imran Ghory & Maximilian Tayenthal https://lnkd.in/eV6KNxrM

Merchant commerce and payments platform Pine Labs has grown over two-fold in terms of operating scale in the last two fiscal years (FY21 to FY23). Significantly, the Peak XV Partners-backed firm also managed to cut down losses by over 12% in the fiscal year ending 2023. Pine Labs reported Rs 726 crore income during FY21 which spiked to Rs 1,588 crore in the fiscal year ending March 2023, its consolidated financial statements filed by the group company in Singapore show. 🚀 Join the startup revolution! Follow StartupTrak for the latest and hottest startup news, inspiring stories, and game-changing innovations! 💯❤️🔥 . . #PineLabs #PaymentPlatform #FinancialGrowth #OperatingScale #PeakXVPartners #FinancialPerformance #EconomicNews #MerchantCommerce #PaymentIndustry #FiscalYear23 #FinancialMilestones #BusinessSuccess #Fintech #CorporateAchievements #EconomicDevelopment #InvestorUpdate #TechInPayments #BusinessNews #ConsolidatedFinancials #RevenueGrowth #LossReduction #StartupNews #StartupTrak

🚀 finmid's €23M Series A Fuels SMB Finance Revolution! 🔥 Berlin-based Finmid, co-founded by former N26 employees Max Schertel and Alexander Talkanitsa, secures €23 million ($24.7 million) in Series A funding to supercharge its embedded fintech solutions, empowering SMBs through platforms like Wolt. 🚀 Empowering SMBs: Finmid's AI-driven solution revolutionizes sales processes. 💼 Targeting Marketplaces: Offering versatile payment and financing options. 🌍 Expanding Reach: Setting sights on new markets and exponential growth. 📈 Series A Milestone: Propelled to €100 million ($107 million) valuation post-funding. Unleash the potential of SMB finance with Finmid's Series A, reshaping marketplaces and empowering businesses globally! #seriesA #fundraising #software

finmid raises $24.7M to help SMBs access loans through platforms like Wolt. Excited to see another German Startup make great strides in the B2B space. This move boosts access to capital for small and medium-sized businesses. Key takeaways: -finmid raised $24.7M in Series A funding -They offer financing through platforms like Wolt -The funding will support hiring and expansion in Europe -finmid's API leverages sales data for pre-approved offers -Both finmid and platforms earn a share of each transaction -finmid plans to enter the Italian market without a local office -Wolt uses finmid tech for cash advances to restaurant partners Kudos to the entire finmid team for building an incredible product. In my opinion, finmid's approach to embedding finance into existing platforms like Wolt is a game-changer for SMBs. By leveraging transaction data, they can offer tailored financial solutions, which enhances accessibility and efficiency. This funding round will undoubtedly help them scale and bring these benefits to more businesses across Europe. P.S. Are you following finmid? Some 'Finmidders' you definitely want to follow are: Max Schertel - Co-Founder Alexander Talkanitsa - Co-Founder Linda Vildava - Chief of Staff Click below to read the full article ⬇

seekingalpha.com: Klarna’s (KLAR) initial public offering may happen “quite soon” in the U.S., Chief Executive Officer Sebastian Siemiatkowski told BNN Bloomberg. The Swedish fintech, once Europe’s most valuable startup, sees the country as a natural choice for a public offering because it is Klarna’s largest market by revenue. The fintech had been expected to go public in markets including the U.S., UK or Sweden. In November, Klarna set up a UK holding company. The markets in Germany, UK and Sweden “are still very small compared to the U.S.,” the executive told BNN Bloomberg. “In the U.S., there is a bigger understanding for fintech and tech companies among the investor base.” Klarna’s valuation fell to $6.7B last year from about $46B and cut costs as investors reconsidered the growth of easy credit at a time of rising interest rates, Bloomberg said. Last year was a slow one for initial public offerings and 2024 is expected to see several well-known companies going public, including China’s fast-fashion group Shein, which filed confidentially last year. Reddit (REDDIT) selected banks almost a year ago to help it prepare for an IPO and Kim Kardashian’s SKIMS clothing brand is in discussions to go public as early as this year. https://lnkd.in/dCcavq6H

Frederic Levy is the co-founder and CEO of TOKI, the first-ever social commerce platform dedicated to collectibles in the Philippines. Toki is both a digital marketplace and a livestream auction platform, made by collectors, for collectors. They’re backed by Foxmont Capital Partners, Kaya Founders, and some angel investors. 👋🏼 How would you explain your job to someone outside tech? I’m transforming the collectibles game. 🧐 What's something about you or your job that would surprise us? I sleep very little, which is rather a good thing when embarking on the startup adventure… and it's even more of a feat when you're balancing it with a bustling home life and five kids! 🏆 What has been the biggest highlight of your career so far? My experience at GCash was particularly impactful. So unique, indeed, that my 3 co-founders at Toki are former members of my team from GCash! 💼 What advice would you give someone starting out in your industry?  Choose your KPIs carefully: they are key to keeping you informed about your finances, customer engagement, team dynamics, product value, and more. 🗣 What's one thing you can keep talking about for hours?  My collections. 🎥 What's your favorite movie/TV show?  The Wire. 🍨 What's your go-to ice cream flavor? Pistachio. We've edited this interview for length and clarity. Read more: https://lnkd.in/dCDN68j3 This is Ice Breakers, where we feature amazing founders, execs, operators, and VCs from our community. 🍨 📰 Want the latest news in SEA tech? Subscribe for free at: www.BackScoop.com.

Ramp continues to ramp up its business. The fintech startup announced today that it is entering the procurement space as it focuses more on “complex” enterprises and that it has landed a new customer in Canadian e-commerce giant Shopify. Over time, Ramp has continued to add on to its offerings — having started out as a corporate card startup company and gradually over time adding features such as bill pay, vendor management and travel expense management, among others. And while the startup started out focused on small-to-medium-sized businesses (SMBs), it now works with “businesses of all sizes” — from startups to multibillion-dollar enterprises to potato farmers. Today, more than 15,000 businesses use Ramp, compared to 5,000 in March of 2022, the company said. Specifically when it comes to Shopify, that company is now using Ramp as its sole expense management provider, noted CEO and co-founder Eric Glyman. ‣ Source: https://lnkd.in/gD6X-FYu ‣ Join 50k other FinTech Fanatics and sign up for my daily FinTech Newsletter here: https://lnkd.in/eVNvGnDW #fintech #fintechnews #spendmanagement #fintechindustry #fintechinnovation #financialsolutions #financialservices

Only four of Europe’s top unicorns are profitable If the 20 most valuable unicorns in Europe, only four are confirmed to be profitable on an annual basis, Sifted finds. That is despite more pressure on many scaleup leaders from investors to prioritise profitability amid a tougher fundraising environment. Neobank Revolut, fintech Zepz and lending platform Lendable, which made Sifted’s list last year, are still profitable according to their latest metrics. This year, they are joined by fintech SumUp. That said, the list of the 20 most valuable companies has changed slightly since last year as many startups have struggled to raise capital at their previous high valuations and had their price tags marked down by investors or internally.  Companies that have not yet made a profit have highlighted their focus on growth by expanding services or product ranges, and through internationalisation. Some companies also declined to comment on profitability. Meanwhile, Octopus Energy, a new entrant to this year’s list, says it would have been profitable this year had it not decided to absorb the increased cost of energy for its customers. Some companies have seen fluctuations in profits, like Klarna, which recorded its first month of profits in May, despite posting losses for the second quarter, and Finnish scaleup RELEX Solutions, which was profitable in 2021 but posted a loss in 2022 due to investments into new product expansion. Source Sifted #fintech #payments #bnpl

📰 News: 📰 🚀 --FinTech Frenzy: $1bn Raised Across 21 Deals This Week!-- 💰 June 21, 2024 - This week, the FinTech sector made waves with over $1bn raised across 21 deals! 🌊 Leading the pack were CyberTech and marketplace lending startups, proving once again that innovation is thriving. Here’s the scoop: A staggering $1.2bn was raised this week, nearly double last week’s total! This surge in funding is paired with a drop in deal volume, down by a third. The showstopper? Financeit, a Canadian marketplace lender, secured CAD $500m -$364m- in a securitization facility, catapulting its total financing capacity to $2bn. 🍁 And that's not all! PayTech startup Chexy bagged CAD $4.1m -$3m-, providing over 15 million Canadian renters a way to pay rent via credit card. 📈 --Key Highlights:-- 💵 $1.2bn raised across 21 deals, doubling last week’s total 🇨🇦 Canadian FinTech sector on fire with notable deals from Financeit and Chexy 🌐 US leads with 8 deals, UK close behind with 5 📈 Canadian FinTechs on track for 192 deals in 2024, a 33% increase from 2023 📉 Yet, funding volume in Canada down 60% in Q1 2024 from Q1 2023 This week’s roundup shows the tremendous potential and growth within the FinTech industry. 🚀 Dive into these outstanding ventures and stay updated with AnniQ for more disruptions and innovations! 🔔 --Don't miss out! Follow AnniQ on social media for the latest updates and industry insights.-- # Retail #Ecommerce #Commerce #Business #AIDriven #Digital #AI #Strategy #Innovation#ArtificialIntelligence #AnniQ https://lnkd.in/g6TPYEvP

BR-DGE was born when our founder, Brian Coburn, transformed legacy systems and pioneered changes in payment technology that created new revenue streams and enhanced customer experiences from one end of the country to another. In his latest interview for UKTN, Brian discusses some of the challenges faced by start-ups and shares his experience of delegating the company as it grows 👇 💬 "The biggest enemy of the startup is time – there’s not enough of it, so spend it wisely, with the right team and the right customers." Read the full interview here 🔗 https://lnkd.in/ev-UAG6H #Fintech #FounderStories #B2B #PaymentOrchestration