Michele Mattei on LinkedIn: #mnt #fintech #halan #thefounderafrica (2024)

Tandem - Couples App, a #fintech solution for couples, raised $3.7 million.#Tandem, the renowned mobile app that simplifies how couples manage their finances, has just elevated the game. Launching its new Goals feature, Tandem is setting the stage for couples to redefine how they plan, save, and achieve financial milestones together. This launch is coupled with the exciting news of a $3.7 million seed funding round led by Corazon Capital, an investment firm with roots in some of the most successful dating platforms like OkCupid, Match Group, and Tinder.Tandem's latest innovation is designed to transform financial planning into a collaborative and enjoyable journey for couples. The Goals feature allows partners to set savings targets, store funds in high-yield savings accounts, and even create wish lists for future purchases—all within the app. It’s a blend of financial tech and social sharing, much like "Pinterest meets #fintech", offering a unique registry for dreams couples are saving up for together.What sets Tandem apart in the crowded fintech space is its understanding that managing finances as a couple is more than just having a shared account. It's about shared dreams, goals, and the journey to achieve them together. By integrating a visually inspiring, Pinterest-like experience with the practicalities of saving, Tandem mirrors the real-life process couples go through, making it a one-of-a-kind platform for financial co-planning.Tandem has been a game-changer for over 25,000 couples, enabling them to manage more than $60 million in shared expenses without the hassle of joint accounts, shared debit cards, or endless peer-to-peer payment requests. It's designed for the modern couple who may combine their lives in many ways but choose to keep their finances separate. Tandem offers a seamless way to split expenses, save for the future, and make shared financial decisions without the complexity.With the backing of Corazon Capital and guided by the expertise of industry leaders like Sam Yagan, Tandem is not just a financial tool but a platform that supports the emotional and financial well-being of relationships. As couples navigate the modern financial landscape, Tandem stands out as a reliable, trustworthy solution that understands and addresses their unique needs.The article on Finopotamus in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Telegram Messenger secures $330 million through bond sales.#Telegram, the globally recognized messaging platform, has announced a substantial injection of $330 million in fresh capital, achieved through a successful bond sale. This strategic move, detailed by Telegram's founder and CEO Pavel Durov, underscores the platform's robust financial planning and market confidence in its growth trajectory.Durov highlighted the bond offering's oversubscription as a clear indicator of the high esteem in which global funds hold Telegram, pointing to the favorable terms of the bonds as particularly noteworthy. Such terms, especially in the context of the current Federal Reserve rate, signify the most advantageous financial conditions Telegram has seen in its company history. This vote of confidence from the investment community strengthens Telegram's financial foundation but also highlights its burgeoning appeal among global financial institutions.Looking ahead, Durov's conversations with the Financial Times reveal Telegram's ambition to reach profitability by next year, coupled with considerations for a public offering. The company's exploratory steps toward monetization aim to preserve its independence, with an Initial Public Offering (#IPO) seen as a potential strategy to democratize access to Telegram's value. This approach reflects a broader trend within the tech industry, where companies leverage financial markets to fuel growth while ensuring user and stakeholder participation in their success story.With a user base surpassing 900 million, Telegram has been diversifying its revenue streams, including ads, blockchain-based username sales, and premium subscriptions. The recent introduction of a conversion option for personal accounts to business accounts, through a subscription model, marks yet another stride in Telegram's monetization efforts. These initiatives are pivotal as they not only promise a sustainable financial model but also enhance the platform's value proposition for users and businesses alike.The article on TechCrunch in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Cologna based Xaver raised a $5 million pre-seed to close European retirement gap. #Xaver, a Cologne-based financial startup dedicated to revolutionizing retirement planning, has successfully secured a whopping five million euros in seed funding. This round is notably one of the largest seed financings for a #fintech in Europe this year, signaling strong confidence in the startup's innovative approach to a critical aspect of financial health: retirement savings.The funding round saw lead investments from venture capital firms Motive Ventures and Cavalry Ventures, with additional backing from an impressive lineup of industry stalwarts. Among them is football star Mario Götze, former Commerzbank CEO Martin Blessing, and ex-Allianz manager Thomas M. They join an already prestigious group of investors, including founders from Wefox, Forto, and Penta, who believe in Xaver's mission and potential.Xaver, formerly known as Numos, targets the significant challenge faced by more than a third of Europeans who lack private retirement savings. The startup aims to tackle the root causes of this issue, including the lack of transparency, high costs, and the daunting complexity often associated with financial products for retirement. By deploying artificial intelligence to simplify and personalize the planning and saving process, Xaver intends to make retirement planning accessible and effective for everyone.Xaver's dual approach includes offering a software solution to assist insurers and brokers in marketing their financial products more efficiently, as well as distributing its own retirement products known as PEPPs (Pan-European Personal Pension Products). These EU-regulated fund products promise more flexibility and lower costs compared to traditional state pensions, positioning Xaver as a potential game-changer in the retirement planning space.Despite the known challenges within the fintech sector, especially regarding specialized retirement products, Xaver's founders, Max Bachem and Ole Breulmann, are undeterred. Armed with fresh capital, they plan to further develop their offerings and expand their team, aiming for significant growth and impact in the retirement planning market.The article on #financefwd in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Solaris SE secures €96M in a Series F funding round!#Solaris SE, Europe's premier #BaaS finance platform, has successfully completed a Series F funding round, raising an impressive €96 million. Led by SBI Group, along with contributions from other existing investors, this round marks a pivotal moment for the Berlin-based #fintech giant.This funding round is not just about capital; it also includes a financial guarantee of up to €100 million, showcasing a robust vote of confidence from its investors in Solaris's vision and strategy. The fresh funds are earmarked for several strategic initiatives, including the onboarding of the ADAC credit card program, bolstering its core capital, and enhancing the resilience and scalability of its platform.A significant portion of this new funding will support the migration of the ADAC (Allgemeiner Deutscher Automobil-Club) credit card program to Solaris, a partnership set to revolutionize credit card services for over 1.2 million ADAC members. This move exemplifies Solaris's capability and commitment to delivering high-value partnerships and underscores the potential of embedded finance to transform traditional business models.Under the leadership of CEO Carsten Höltkemeyer, Solaris is embarking on a new chapter, aiming for sustainable, profitable growth. With a clear focus on core vertical markets, Solaris is poised to offer scalable and accessible financial products such as cards, accounts, and lending services, catering to the diverse needs of its partners. This strategy aligns with the growing demand for embedded finance solutions among international brands seeking to enhance their customer offerings.Since its inception in 2015, Solaris has been at the forefront of the Banking-as-a-Service (BaaS) market, pioneering innovations that have set new industry standards. With a proprietary modular B2B tech stack and scalable licensing system, Solaris empowers a wide range of partners, from global non-financial companies to cutting-edge fintechs, to deliver unique, customer-centric financial services seamlessly across all industries.The company has over 750 employees across Europe and India, and net revenues of €130 million in 2022, Solaris's journey is a testament to the power of technology-driven financial services. This latest funding round reaffirms the confidence of investors in Solaris's future strategy but also signals the burgeoning potential of embedded finance to redefine the financial services landscape.The announce on #Solaris website in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Blockchain payments network Zone just raised $8.5 million.#Zone, an African blockchain payment network, has successfully raised $8.5 million in a seed funding round that saw remarkable demand, becoming oversubscribed. This funding initiative was spearheaded by venture capital firms Flourish Ventures and TLcom Capital LLP, marking a pivotal moment in the journey of blockchain technology within the African #fintech landscape.Zone's groundbreaking Layer-1 Blockchain network is at the forefront of technology, enabling financial institutions to conduct transactions directly, without the need for intermediaries. This innovation streamlines settlement, reconciliation, and dispute management, presenting a leap forward in financial processing efficiency and security.As Nigeria's premier regulated blockchain network for payments, Zone has already garnered significant interest, enlisting over 15 of Africa's most prominent banks and fintech firms. This achievement underscores the vast potential and trust in blockchain as a transformative tool for the continent's financial services sector.With the new influx of capital, Zone is poised for expansive growth, aiming to broaden its network reach within the domestic market and forge connections with additional banks and financial services companies. A substantial part of the investment will fuel a comprehensive pilot program to explore cross-border payment capabilities, with ambitions set for 2025.The article on Finextra in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Monzo Bank is securing an additional $50 million in funding from the Sovereign Fund of Singapore.UK-based digital bank #Monzo is reportedly in advanced discussions with Singapore's Government Investment Corporation (GIC) for a significant investment. This deal, valued at approximately $50 million, marks a pivotal moment for Monzo, reinforcing its position in the global financial technology landscape.Founded in 2015, Monzo has rapidly ascended to become one of the UK's leading digital banks in the #fintech field, boasting over nine million customers and achieving a notable valuation exceeding £4 billion. The bank's success story is underpinned by its profitability and diversification into investment and savings products, highlighting its evolution from a digital challenger to a full-service financial institution.GIC's potential stake acquisition in Monzo is not just a financial injection but a strategic partnership that could open new avenues for Monzo in the Asian markets. Singapore's GIC is among the world's most formidable sovereign wealth funds, and its interest in Monzo underscores the bank's innovative approach and potential for international expansion.As Monzo gears up for this significant partnership, speculation around its future plans intensifies. This move could be the precursor to an Initial Public Offering (IPO), setting the stage for Monzo's next chapter of growth. The company's ambitious international expansion strategy, coupled with the backing of prominent global investors, suggests a bright future ahead.The article on Sky Media UK in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Wow, this is huge! Uber leads a $100 million round in the African mobility fintech startup Moove, at a valuation of $750 million.#Moove, an innovative African mobility #fintech startup founded by Ladi Delano and Jide Odunsi, has successfully secured a $100 million investment in its Series B funding round. This investment round, led by none other than ride-hailing giant #Uber, marks a significant milestone as Uber's first investment on the African continent, highlighting the immense potential and strategic importance of Africa's burgeoning tech ecosystem.The round also includes sovereign wealth fund Mubadala and several other investors, pushing Moove’s post-money valuation to $750 million. This is up from the $550 million secured last August in aMubadala-led equity and debt round. The news confirms a Bloombergreportfrom last month. Dubai-based The Latest Ventures, AfricInvest Group, Palm Drive Capital, Triatlum Advisors AG, Future Africa along with New York-based Left Lane Capital and European VC Speedinvest also participated in the funding round.The company, which specializes in offering vehicle financing solutions to drivers on ride-hailing and delivery apps, plans to use this fresh capital infusion to expand its innovative revenue-based vehicle financing platform into 16 markets by the end of 2025. This expansion is critical for Moove as it aims to democratize access to vehicle ownership and empower drivers across new territories.Uber's decision to back Moove is a strategic one, with Moove being Uber's largest car financing and vehicle supply partner. Uber, which operates across eight African countries and completed 1 billion rides in 2022, sees Moove as a vital ally in ensuring a steady supply of drivers and vehicles, particularly electric vehicles (EVs), in its commitment towards a fully zero-emission fleet by 2040.Moove's focus on electric vehicles and its plans to pioneer the transition from internal combustion engines to compressed natural gas and eventually EVs in markets like Nigeria illustrates a forward-thinking approach to sustainability. This move is poised to set a precedent for a more sustainable and accessible mobility ecosystem globally, albeit with challenges such as infrastructure and economic conditions in African markets.Despite facing significant challenges, including fuel price hikes and economic instability in its operating regions, Moove has demonstrated resilience and adaptability. Initiatives like the Moove Care programs, aimed at supporting drivers through these tough times, underscore the company's commitment to its mission of fostering mobility and financial inclusion.The article on TechCrunch in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Canadian payment processor Nuvei is evaluating a possible buyout deal.Canadian #fintech giant #Nuvei is currently in discussions about a significant transition from public to private status. This revelation follows speculations of a deal with private equity firm Advent, putting the spotlight on Nuvei's strategic maneuvers.Nuvei, with a robust market capitalization of $3 billion, is a key player on the Nasdaq, underscoring the potential magnitude of this buy-out—one of the largest in recent history. This transition highlights a broader trend of fintech companies considering private equity partnerships to fuel growth and expansion.Nuvei's services span over 200 markets globally, with direct local acquiring capabilities in more than 47 countries and access to over 600 alternative payment methods. The company's strategic acquisitions, including the all-cash purchase of US-based Paya for $1.3 billion and the recent acquisition of Australia’s Till Payments for $50 million—a significant discount from its once $500 million valuation—demonstrate Nuvei's aggressive expansion strategy and its potential for reshaping the fintech landscape.This potential shift to private ownership, with ongoing significant ownership by its founder, Phil Fayer, and other key shareholders, suggests a strategic pivot aimed at leveraging private equity to accelerate growth, innovate, and expand Nuvei's market footprint. For the fintech sector, this move could signal a burgeoning trend of consolidation and strategic partnerships, influencing competitive dynamics and innovation pathways.The article on Finextra in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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Japan and #ASEAN forge ahead with unified QR code Payment Initiative for FY2025Japan and the Association of Southeast Asian Nations (ASEAN) have embarked on a path to launch joint QR code payment services by fiscal year 2025. This groundbreaking initiative promises to revolutionize the way international travelers make purchases, allowing them to use their native payment methods abroad without the hassle of currency exchange.At the heart of this collaboration is the #JPQR system, Japan's standardized QR code payment platform, which enables consumers to make payments through various service providers using a single, unified code. By scanning these QR codes with their smartphones, shoppers can effortlessly complete transactions at participating stores, significantly enhancing the user experience.The Japanese Ministry of Economy, Trade and Industry, alongside the Payments Japan Association, has already initiated discussions with Southeast Asian governments and central banks, including those of Indonesia and Cambodia, to make QR code systems interoperable. This ambitious endeavor aims to bridge the gap between different payment systems, ensuring seamless cashless payments for consumers traveling between Japan and Southeast Asian countries.ASEAN countries like Thailand and Indonesia have also developed their own standardized QR code payment systems, overseen by their respective central banks. These efforts underscore a regional commitment to advancing cashless payments and facilitating easier cross-border commerce.In 2022, five ASEAN countries—Singapore, Indonesia, Thailand, Malaysia, and the Philippines—signed a memorandum of understanding to unify their QR code payment systems, marking the beginning of joint usage in some countries. Japan's initiative to become interoperable with these systems not only aims to simplify transactions for travelers but also seeks to strengthen economic ties and enhance data use collaboration within the region.This move is seen as a strategic endeavor to bolster Japan's economic influence in Southeast Asia, countering China's efforts to expand the use of its domestic platforms for smartphone-based digital payments across Asia and Africa. By facilitating easier access to cashless payments, Japan and ASEAN are laying the groundwork for a more interconnected and economically secure region.But is also a smart move from Japan into the #fintech field, very similarly to what India did with #UPI, Brasil with #PIX or even the US with FedNOW.The article on Nikkei Asia in the first comment.Want to stay up to date with the market? Here my newsletter:- Linkedin: https://t.ly/s541W - Substack: https://lnkd.in/dzfGJzmW

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