Fintech and ecommerce

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Evervault raises €21M to keep payment data encrypted from end to end

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The Dublin-and-New York-based startup, backed by Ribbit Capital, Sequoia, and Index Ventures, says it processes more than €4.2bn in transactions monthly and cuts customers’ PCI compliance costs by an average of €86,000. The premise behind Evervault is one of those ideas that sounds straightforward until you think about how most payment systems actually work. Card […]

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Revolut applies for a US bank charter

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The London-headquartered neobank has submitted applications to the OCC and the FDIC to establish Revolut Bank US, N.A., committing $500m to the American market and appointing a former Visa executive as its new US CEO. In early 2021, Revolut told the world it was going after a US banking licence. The announcement was confident, the […]

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Allica Bank joins the fintech unicorn club after $155M Series D round

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London-based digital challenger bank Allica Bank has officially crossed the unicorn threshold after closing a $155 million Series D funding round that valued the company at around $1.2 billion. This places the fintech among the growing list of private companies with valuations above $1 billion, alongside peers such as Revolut, Monzo, Starling and Zilch. The […]

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French fintech Pennylane raises €175M

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Paris-based fintech Pennylane has just pulled off one of Europe’s most noteworthy funding rounds of the year, announcing €175 million in new capital to accelerate its push into artificial intelligence and expand its footprint across the continent. The round was led by growth investor TCV, with participation from Blackstone Growth and a group of existing backers that includes Sequoia Capital, DST Global, CapitalG and Meritech Capital.  What makes this raise stand out isn’t just the size of the cheque, though €175 million is hard to ignore in a selective funding market, but the strategic timing and purpose behind it. Pennylane…

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Cleo launches new ‘AI money coach’ to help fix your spending habits

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UK-based fintech Cleo, known for its AI-powered budgeting app, has launched its most advanced product to date. Dubbed Cleo 3.0, the new version introduces features such as voice interaction, long-term memory, and improved reasoning capabilities. Barney Hussey-Yeo, Cleo’s founder and chief executive, said Cleo 3.0 is less chatbot and more “conversational AI money coach.” Users […]

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