Top 5 FinTech funding rounds that took place in Europe in February 2023

By Gloria Methri

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

Below are five notable FinTech funding rounds in APAC in February 2023:

Zopa, the UK peer-to-peer lender turned digital bank, has raised £75m ($92.40m) from a group of shareholders. The financing will be used to meet the capital requirements of the company’s growing balance sheet. It will also support the M&A agreement which can start as early as this quarter.

• Taurus raises $65 million

Taurus, the digital infrastructure provider for financial institutions in Europe, has raised $65 million in Series B capital from strategic investors. The round was led by Credit Suisse and included participation from new institutional investors such as Deutsche Bank, Pictet Group, Cedar Mundi Ventures, as well as from Series A investors, Arab Bank Switzerland and Investis, a listed real estate group.

• Wefox secures 55 million dollars

After raising $400 million in Series D funding last summer, InsurTech Wefox secured an additional $55 million from existing investors last month. The company, which focuses on ensuring profitability for InsurTech and FinTech companies, increased its valuation from $3 billion to $4.5 billion between 2021 and 2022.

Bank of London raised $40 million in an expansion of its Series C investment, bringing the company’s total raised to $160 million. This fresh funding follows the company’s $90 million Series C round, which was completed in the fourth quarter of 2021, demonstrating investor interest and growth trajectory.

Carbon credit transaction network Carbonplace raised $45 million in a strategic investment round and formed its own entity. Carbonplace, which connects buyers and sellers of carbon credits through their banks, secured the seed funding from the financial institutions that founded FinTechs: BBVA, BNP Paribas, CIBC, Itaú Unibanco, National Australia Bank, NatWest, Standard Chartered, SMBC and UBS. Through the investment, each bank shares equal ownership in the new company, which is expected to launch its platform later this year.

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