The COVID pandemic seems not to want to end. The BREXIT talks still show no promising perspectives, and nobody knows where the EU, Europe, and the world will be in a few months. This seems to motivate investors to invest even more in FinTechs. Theoretically, many FinTechs should benefit from the age of the home office economy triggered by COVID-19. This week again, the two EU-Fintechs Tink and Solactive announced successful financing rounds:
- German FinTech Solactive (www.solactive.com), founded in 2007 has established itself as leading a technology-enabled provider of indices and index solutions to the global financial services industry, has taken €50 million minority investment from growth investor Summit Partners (www.summitpartners.com). Solactive is benefitting from the ongoing and significant shift of active to passive investment strategies. The FinTech’s solutions are used by more than 400 international clients, including leading investment banks, ETF providers, hedge funds, asset owners, and asset managers, with more than $200 billion of global assets linked to more than 17,000 Solactive indices.
- The Swedish FinTech Tink (www.tink.com) has raised €85 million at a post-money valuation of €680 million. This brings the total invested in Tink during 2020 to €175 million. Tink is an open banking startup that aggregates banks and financial services via API allowing bank clients to access their banks via new channels and new applications. The startup’s platform already links up 3,400 banks, covering some 250 million people. Tink claims that some 8,000 developers already work with its APIs. The funding round has been co-led by new investor Eurazeo Growth and Dawn Capital, with PayPal Ventures, HMI Capital, Heartcore, ABN AMRO Ventures, Poste Italiane, and BNP Paribas’ venture arm, Opera Tech Ventures.
Although the topic of Open Banking is still occupied by the UK unicorns Revolut, Monzo, or Starling Bank, the EU-scene remains alive. In addition to the German unicorn N26, other FinTechs are also attracting investors in various EU countries.