Top 10 FinTech Deals - July 2022
The top 10 FinTech deals summary for July 2022
Welcome back to another monthly deal re-cap in collaboration with BlackFin Tech.
In these articles we list the top 10 FinTech Funding rounds and highlight some of the startups that raised money this month.
Questions? Let me know in the comments below 👇
So here’s what you need to know about this month’s
OVERALL FUNDRAISING
• 67 rounds in July in Europe (versus 59 in Jul.21)
• €1878m raised (versus €2721m Jul.21)
• Top 10 raised €1557m (versus €2020m Jul.21)
TOP 3 DEALS
MORE ON KLARNA
The Swedish BNPL Unicorn raised a €761m venture round that saw participation from Silver Lake, Sequoia Capital, Mubadala, Commonwealth Bank of Australia, CPP IB, and Bestseller Group alongside both Co-founders of Klarna Sebastian Siemiatkowski & Johens Jacobsson and Niklas Adalberth ( General Partner at Norrsken VC).
The latest funding round saw Klarna’s valuation drop almost $39 billion from last year when it raised a $639m round at a $45.6 billion valuation led by Japanese firm Softbank. The news comes amid a global market downturn, where Klarna’s public peers are down 75% to 90%. In May the company announced that it had laid off 10% of its global workforce, citing market constraints.
Despite these challenges, Klarna not only saw investments from existing shareholders but new entrants Mubadala and the Canada Pension Plan Investment board.
MORE ON WEFOX
The Berlin-based Insurtech raised a €380m Series D with a combination of Debt and Equity in a round that saw their Post-money valuation rise to $4.5 billion. The Round was led by Mubadala Investment Company with participation from Eurazeo, LGT, Horizons Ventures, OMERS Ventures and Target Global.
• Founded in 2015, Wefox is a full-stack digital insurance company that sells various insurance products through a combination of in-house and external brokers, bypassing the direct-to-consumer model most insurtech competitors adopt. This model has meant that Wefox generated $200m in revenues in the first four months of 2022.
Wefox says it intends to use the fresh capital for further product development and to expand across Europe, followed by Asia and the US.
MORE ON YULIFE
The British, Insurtech start-up raised a €114.1m Series C at an $800m Valuation, led by Japan’s Dai-ichi Life Insurance company which comes on board as a new strategic investor, along with participation from previous investors Creandum, LocalGlobe, Target Global, Latitude, Anthemis, OurCrowd, Notion, MMC and Eurazeo.
Founded in 2016, YuLife is a life insurance company offering self-care incentives to employees. YuLife’s products provide financial security to the loved ones of employees but with a focus on improving the wellness of YuLife customers through gamification on their App. The company offers approximately £40bn of cover to 500,000 policyholders from small to large businesses.
The funds will be used to enter new international markets and scale their product range.
BlackFin Capital Partners is a fully independent private equity and venture capital firm focused on financial services in Europe. BlackFin manages 3 buyout funds and 1 venture fund (BlackFin Tech) for a total of €1.8bn under management.
👉 Check them out here.
Since its final closing in 2018, BlackFin Tech invested in 17 of the fastest-growing European fintechs and insurtechs.
BlackFin Capital Partners’s 40 investment professionals are spread across 3 offices in Paris, Brussels, and Frankfurt.
👀 For more information, visit their Website, Twitter, or Medium.