Top 10 FinTech Deals - June 2022
Dive right into our monthly recap of the Top 10 Deals in Europe in collaboration with BlackFin Tech.
In this monthly publication, we will list the top 10 FinTech Funding rounds and highlight some of the startups.
Here’s what you need to know about this month’s funding scene:
OVERALL FUNDRAISING
€1823.7m raised by 62 fintech in June
The average deal size was €29.9m & median deal size is €11m
Compared to June 21: €3796.7m raised by 93 fintech with an average deal size of €44.1m and median deal size of €6.9m
TOP 3 DEALS
SumUp raised €295m
Trade Republic raised €250m
Backbase raised €120m
SUMUP
The London-based Payments giant raised €295m in equity from Bain Capital Ventures, which led the round, and other funds including Btov Partners, Fin Capital and Blackrock. The full round also included €295 in debt provided by undisclosed lenders. This values the company at €8bn post-money, with €1.5bn in total amount raised
Founded in 2012, SumUp offers small merchants and independents a free business account/card, online store and invoicing solution through a financial super app linked to their Point of Sale (POS) hardware. They are now being used by more than 4m SMBs in 35+ countries, including Peru since June 2022
The funds will be used to further develop their product offerings, expand into new markets, and acquire more businesses/competitors
TRADE REPUBLIC
The Berlin based Fintech raised a €250m series C extension round led by the Ontario Teachers’ Pension Plan Board. This extension happens just over a year after raising more than €900m in a series C round led by Sequoia. The company went from a €4.4bn valuation to a €5bn post-money valuation with this extension
Founded in 2015, Trade Republic is a Neobroker on equities, fixed income, cryptocurrencies and various ETF available in Germany, France and Austria. Their mobile trading app was first launched in Germany in 2019 and has since attracted more than one million customers in the three countries
The money will be used to improve their product and help them support the current drop in retail investors.
BACKBASE
The Dutch company raised a €120m growth round from Motive Partners at a valuation of €2.5bn. The fintech had been bootstrapped since its creation and decided to raise funds to further develop their product and strengthen its position on the Engagement Banking market
Founded in 2003, Backbase gives banks a solution to consolidate all their customer services and re-engineer their entire banking experience around the client. In 2021, the company managed to get more than 150 clients and $100m in ARR (Annual recurring revenue). Their clients include Citizens Bank, Wsecu or even the National Bank of Bahrain
According to Backbase’s CEO, Jouk Pleiter, the funds will be used to diversify the product offering and grow their sales and marketing operations
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.