4 major FinTech fundraises in Europe in October 2023

By Gloria Methri

The rise of new FinTech start-ups, new-to-bank population, and technological advancements have paved the way for an upsurge in FinTech evolution. FinTechs are becoming mainstream with more investment made 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 Europe in the month of September 2023:

• ALT21 raises $21m

ALT21, a London-based hedging technology company, has closed a $21 million (€19.4m) funding round, one of its largest pre-series A funding rounds in Europe this year, to support the next stage of its growth. ALT21 operates an end-to-end digital hedging platform. The fundraise will help ALT21 to sustain its growth trajectory as it plans to broaden the base of strategic partners to reach a larger demographic of SMEs. It also plans to expand overseas, allowing it to work with strategic partners globally.

• Brite Payments raises $60m

Swedish FinTech Brite Payments announced a $60 million funding round led by B2B software investor Dawn Capital, joined by Headline and existing investor Incore. Brite leverages open banking to offer businesses easy-to-integrate, instant account-to-account (A2A) payments and payouts. The company said it will use the fresh funding to accelerate its geographic expansion, strengthen its presence in existing markets, and invest further in product development.

• Globacap raises $21m Series B

Capital markets technology firm, Globacap completed a $21m million Series B funding round as it strives to digitise and automate the global private capital market. Investors include capital markets heavyweights Moore Strategic Ventures, LLC, Cboe Global Markets, Inc., and the Johannesburg Stock Exchange (JSE), as well as GABI Ventures and Asia-focused investment firm, QBN Capital.

The firm said it will use the fresh injection of funding to ramp up its marketing and sales efforts, expand into new geographies, and invest in developing its product to grow its customer base.

• Lyvia Group secures $145m financing

Lyvia Group, one of the leading providers of business-critical software and expert services, has announced a new partnership with Danske Bank and DNB. The partnership with the two major Nordic banks will strengthen the company’s growth capabilities and support its European expansion.

Lyvia invited investors and stakeholders to join them in their growth journey stating that its excellent technologies, combined with this significant funding, set the stage for continued success and innovation.