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EU-Startups reports Barcelona-based Kabilio, specializing in AI for accounting, has closed
Kabilio, a Barcelona-based company founded in 2024, raised €4 million in pre-Seed funding led by Visionaries Club and Picus Capital to expand its AI-powered accounting automation platform. This funding, including €200,000 from ENISA, will help Kabilio boost productivity in Spanish accounting firms, and their platform is currently used by almost 100 firms.
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Fintech Articles
50 articles found
Reuters: Exzeo Group's IPO Raises $168 Million for Insurance Technology
Exzeo Group finalized its U.S. IPO, generating $168 million by pricing 8 million shares at $21 each, projecting a market valuation of $1.91 billion. HCI Group retains 81.5% ownership of Exzeo, which will trade on the NYSE under the ticker XZO, providing software for property and casualty insurers.
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European startup M&A activity is booming
European startup M&A activity is booming due to scarce IPOs, with venture capital-backed deals averaging 75 monthly and reaching a two-year high of 95 in September. This surge is fueled by acqui-hiring, like Jack & Jill's strategy, and debt-financed roll-ups such as Bending Spoons' acquisitions of AOL, Vimeo, and Evernote, and is invigorating established software companies like Visma.
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Optasia Eyes Global Expansion After $1.4 Billion IPO on JSE
Optasia Group, an AI-driven fintech firm valued at $1.4 billion after its Johannesburg Stock Exchange IPO, is expanding into Asia, Africa, and Latin America with new BNPL and virtual credit products. Acquisitions, especially in Asia or Latin America, will be central to Optasia's strategy to quickly establish a market presence.
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Broadridge Financial's first-quarter profit more than doubles, driven by key divisions
Broadridge's first-quarter profit surged to $165.4 million, or $1.40 per share, up from $79.8 million, or $0.68 per share, the prior year, with total revenue increasing 12% to $1.59 billion. Due to the strong results, Broadridge updated its fiscal year 2026 outlook and anticipates recurring revenue growth to be at the higher end of its 5-7% guidance range.
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Starling Group to upgrade Tangerine software in 10-year deal
TL;DR: Starling Group secured a 10-year deal with Tangerine, owned by Bank of Nova Scotia, enabling Tangerine to migrate its digital banking to Starling's Engine platform. This deal marks Engine's first venture into the North American market, prompting the company to hire over 100 new employees.
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Reuters: CompoSecure to Bid $5 Billion for Husky Technologies
CompoSecure, a fintech company supported by David Cote, plans to acquire Husky Technologies from Platinum Equity for around $5 billion, including debt. The deal involves a $2 billion PIPE offered at $18.50 per share, $1.1 billion from Cote's family office, and Platinum Equity retaining under 20% ownership by rolling over $1 billion.
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Hong Kong Eases Crypto Rules to Attract Global Capital
Hong Kong regulators are relaxing cryptocurrency trading restrictions to attract global investment and boost the city's digital asset market. Licensed platforms can now connect local investors to global order books, according to Securities and Futures Commission CEO Julia Leung. Hong Kong regulators are easing restrictions on cryptocurrency trading to attract global capital and revitalize the city's digital asset market, Bloomberg.com reports. Julia Leung, CEO of the Securities and Futures Commission, announced that licensed cryptocurrency trading platforms will be permitted to connect local investors with their global order books. The Securities.
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Qatar Airways & Qatar Central Bank Partner on Himyan Card Benefits
Qatar Airways Privilege Club is collaborating with the Qatar Central Bank to offer benefits to Himyan cardholders. While the exact details are unknown, this partnership indicates a growing trend of integrating loyalty programs and financial services in the region. Qatar Airways Privilege Club is partnering with the Qatar Central Bank to provide benefits to Himyan cardholders, according to Breakit. Specific details regarding the benefits and the scope of this collaboration remain limited. This partnership suggests a growing trend of integrating loyalty programs with financial services in the region.
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Pine Labs, backed by PayPal, targets $439M Mumbai IPO
Pine Labs, supported by PayPal, is planning an IPO in Mumbai aiming to raise up to $439 million, according to a Bloomberg.com report. The report lacks information regarding the IPO's timing or the company's expected valuation. Pine Labs, a company with backing from PayPal, is reportedly planning an Initial Public Offering (IPO) in Mumbai, according to a Bloomberg.com report. The company aims to raise up to $439 million through the IPO. The referenced report provided no further details regarding the offering's timing or the company's anticipated valuation.
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Deel Hires Intuit Executive, Joe Kauffman, Signaling IPO Intentions
Deel hired Joe Kauffman, previously at Intuit, as President and CFO, aiming for a future IPO with his expertise. This change follows Deel's recent valuation at $17.3 billion, achieving over $100 million in monthly revenue and $15 to $17 million in monthly EBITDA, despite a lawsuit with competitor Rippling.
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Reuters: Bank of America CEO Under Pressure to Boost Returns
TL;DR: Bank of America CEO Brian Moynihan is being urged to enhance returns and tackle performance shortfalls compared to competitors before the upcoming investor meeting. The bank's investment banking revenue lags behind JPMorgan and Goldman Sachs, while overall loan growth, wealth management, and credit card performance have also been weaker than industry peers according to Wells Fargo analyst Mike Mayo.
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Bloomberg: Brazil's Central Bank Tightens Fintech Rules Amid Crime Crackdown
TL;DR: Bloomberg.com reported that the Central Bank of Brazil is increasing regulations to fight crime within the fintech industry. The move, prompted by the rise of illicit activities alongside digital finance growth, signifies a crackdown, but further details about specific regulations and the crimes targeted were not disclosed.
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Treasury Secretary Bessent declares housing recession, urges faster Fed rate cuts
Treasury Secretary Bessent stated that the U.S. housing sector is in a recession due to high interest rates and urged the Federal Reserve to cut rates faster, attributing economic downturns to their policies. Bessent blamed high post-pandemic inflation on spending cuts from the previous administration.
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Fintech Opens Private Credit to Revolutionize Retirement Planning for Americans
Fintech platforms are increasing access to private credit for retirement planning, an area where almost 40% of Americans lack familiarity. After learning about privately held businesses, nearly 60% of investors expressed interest in investing, as fintech platforms standardize processes and enhance transparency, making the market more accessible to accredited investors with lower minimums and shorter durations.
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Fiserv's Market Value Plummets $30 Billion After Guidance Change
Fiserv's market capitalization decreased by $30 billion after the new CEO retracted the company's financial guidance, as reported by the Wall Street Journal. This decline occurred after Frank Bisignano's departure and illustrates how leadership changes and forecasting influence market valuations in the financial technology sector.
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Ant International Invests in Latin American Fintech R2 to Expand Lending
Ant International, a division of Ant Group, is investing in the Latin American fintech company R2, an embedded lending firm focused on providing credit solutions to small and medium-sized enterprises. This investment, a primary capital injection, aligns with Ant International's strategy of integrating financial services within existing business ecosystems.
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Viola Credit Launches $2 Billion Fund for Fintech Debt Financing
Viola Credit has established a $2 billion fund to supply debt financing to roughly 40 fintech startups, offering asset-based loans to companies with capital-intensive lending operations. The fund will target sectors like small business lending, consumer lending, and buy-now-pay-later services, supporting fintechs that need significant capital to grow their lending portfolios.
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Forbes:
TL;DR: Forbes reports that banking and finance will significantly transform by 2026, driven by AI advancements and a focus on customer experience. AI agents will automate operational tasks like compliance and reconciliation, while also providing personalized financial assistance to customers.
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Forbes: Fintech Platforms Must Genuinely Integrate ESG Principles for Growth
Fintech platforms need real ESG integration for competitiveness due to growing consumer and investor focus on climate consciousness, as shallow "greenwashing" hurts reputations. Twenty Forbes Business Council members stress transparent reporting, sustainable product design, measurable impact, aligned incentives, and localized approaches incorporating regional standards and CSR policies.
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Paul Allan: J.P. Morgan Partner Named to 30 Under 30
Paul Allan was named to Forbes' 2021 30 Under 30 Europe list for Finance as a J.P. Morgan Technology Investment Banking Partner. He invests in enterprise and consumer software, fintech, and digital health, previously founding and selling companies in medtech, marketing, and biotech after graduating from Trinity College Dublin.
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Reuters reports: Morgan Stanley to acquire private shares platform EquityZen
TL;DR: Morgan Stanley is acquiring EquityZen, a platform for private shares, according to Reuters. The acquisition highlights a growing trend among Wall Street firms to cater to increasing investor demand for access to private markets. According to Reuters, Morgan Stanley is set to acquire EquityZen, a private shares platform. This acquisition reflects a broader trend among Wall Street firms striving to satisfy increasing investor interest in private markets. Specific details regarding the transaction and its potential impact remain undisclosed.
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Fiserv Stock Plunges After Forecast Slash and Leadership Overhaul
Fiserv shares plummeted almost 42% on Wednesday, October 29, after the company lowered its full-year earnings forecast, potentially erasing $29 billion in market capitalization, according to Reuters. This occurred following disappointing third-quarter results, a leadership restructuring, and a revised forecasting approach prompted by an inability to meet previous projections.
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Verisk Analytics Cuts 2025 Revenue Forecast; Shares Drop
Verisk Analytics' stock price dropped up to 15% after the company reported lower-than-expected third-quarter revenue of $768 million and decreased its 2025 revenue forecast to $3.05-$3.08 billion due to mild weather. The firm had originally anticipated $776 million for the third quarter and analysts expected $3.12 billion in 2025.
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Trump Media to launch prediction markets on Truth Social platform
Trump Media & Technology Group will incorporate prediction markets into Truth Social via a partnership with Crypto.com. This integration will start with a beta test in the U.S. and then expand globally upon meeting regulatory standards, allowing users to potentially profit from forecasting outcomes in sports, politics, and economics.
Photo by Jakub Żerdzicki on Unsplash
Bloomberg.com: Visa Earnings Exceed Estimates Amid Consumer Spending on Cards
Visa's fiscal fourth-quarter earnings surpassed expectations, driven by consistent worldwide consumer spending on Visa cards, as reported by Bloomberg. Their adjusted net income rose to $5.8 billion, a 7% increase from the previous year, resulting in an adjusted earnings per share of $2.98, slightly above analyst predictions.
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EPIC Raises $10M Series A to Expand Auto Loan Fintech
EPIC, a Dallas fintech company, received $10 million in Series A funding led by FM Capital to expand its digital loan payoff platform. The company will use the funds to innovate its platform for the automotive ecosystem and extend its services to the powersports and RV markets, streamlining processes for dealers, lenders, and insurers.
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Fintechs Near Big Banking Payments Privilege as Fed Considers Changes
TL;DR: Bloomberg reports the Federal Reserve is considering altering the boundaries of the U.S. financial system. This reevaluation could have a large effect on the competitiveness of both fintech companies and traditional banking institutions. According to Bloomberg.com, the Federal Reserve is evaluating potential changes to the boundaries of the U.S. financial system. This reevaluation could significantly impact both fintech companies and traditional banks, potentially reshaping the competitive environment.
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RBI Proposes Limits on Banks' Capital Market Exposure, Acquisition Funding
The Reserve Bank of India (RBI) has proposed new lending restrictions for banks concerning capital market activities and corporate acquisitions. These restrictions include capping banks' aggregate capital market exposure at 40% of their Tier 1 capital, with acquisition financing further limited to 10%, and banks can only finance up to 70% of an acquisition deal's value, requiring the acquiring company to provide the remaining 30%.
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Fannie Mae CEO Priscilla Almodovar Exits Amid Potential IPO
Fannie Mae CEO Priscilla Almodovar resigned amid discussions of potential company share sales by the Trump administration. Subsequently, Chief Operating Officer Peter Akwaboah has been appointed as Acting CEO, while John Roscoe and Brandon Hamara were promoted to Co-Presidents. Fannie Mae CEO Priscilla Almodovar has resigned from her position amid ongoing discussions regarding a potential sale of company shares by the Trump administration. Peter Akwaboah, Fannie Mae's Chief Operating Officer, has been appointed as Acting CEO while the board of directors conducts a search for a permanent replacement. Concurrent with.
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Kalshi Receives Investor Offers at Over $10 Billion Valuation: Report
Kalshi, a prediction market platform, may be valued at over $10 billion due to investor interest, based on a Bloomberg report. This follows the company's recent $300 million funding round, which valued it at $5 billion, with venture capitalists potentially seeing valuations ranging from $10 to $12 billion or higher.
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Chime has confidentially filed for an IPO
Chime has confidentially filed for an IPO, according to PYMNTS.com. This occurred alongside eToro's first day of trading, which, along with significant capital investments in other fintech platforms, signals sustained investor optimism and a dynamic market within the financial technology sector.
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United Fintech Appoints Rupsa Mukherjee as Head of M&A
United Fintech has appointed Rupsa Mukherjee as their Head of Mergers & Acquisitions to propel the company's growth through strategic acquisitions. Mukherjee's 13 years of experience in corporate finance and investment banking includes advising on over $20 billion in M&A transactions in previous roles at Goldman Sachs, Caterpillar, and Deutsche Bank.
Photo by İsmail Efe Top on Unsplash
Erie Strategic Ventures Invests in Fintech Startups Atomic and Feathery
Erie Strategic Ventures, Erie Insurance's venture capital arm, recently invested in Atomic and Feathery to improve customer experience and operational efficiency. Atomic offers embedded brokerage and wealth management solutions, while Feathery's AI platform automates data intake. These investments align with Erie Strategic Ventures' focus on embedded financial services and AI for digital transformation.
Photo by Markus Winkler on Unsplash
Self-driving truck technology actively tested in EU and US
Bloomberg reports that Aurora, Waabi, and Fernride are actively developing self-driving truck technology, performing tests in the U.S. and Europe. The technology has the potential to revolutionize freight transport by increasing speed, safety, and lowering costs, while also raising critical considerations about government regulations, job displacement, and the future of driving.
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Nestle's New CEO Navratil Announces 16,000 Job Cuts, Portfolio Overhaul
Nestle, under new CEO Philipp Navratil, is restructuring by cutting 16,000 jobs and reviewing its portfolio to concentrate on high-growth areas. This plan to address underperforming assets within the $245 billion food and beverage company, including potential divestitures, has increased Nestle's stock by 9.3%.
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Trump Jr.-Backed Colombier Acquisition Corp. III Files for $260 Million IPO
Colombier Acquisition Corp. III, a SPAC with Donald Trump Jr. as a director, filed for a $260 million IPO, offering 26 million shares at $10 each under the ticker "CLBR U." Chamath Palihapitiya is also on the board, and the company, backed by Omeed Malik, seeks to merge with a private company, with Roth Capital as the underwriter.
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Itaú Backs Turbi's $29M Note Issuance as Car-Rental Startup Eyes IPO
Turbi, a Brazilian car rental startup based in São Paulo, obtained a 156 million-real local note issuance led by Itaú Unibanco to fund expansion and prepare for a possible IPO. Turbi's car rental revenue rose 35% in the second quarter, and the company will use the new funds to increase its fleet from 5,800 to 7,000 vehicles.
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