33 FinTech Companies From Western Europe to Look out for in 2016December 24, 2015    By : Sofia
Ensygnia: Based in London, Ensygnia is the company behind the breakthrough Onescan secure mobile transaction platform and its patented process for the confidential exchange of personal and financial information. Ensygnia’s Onescan means no more need to maintain and remember a plethora of usernames and passwords. The platform’s authentication service allows managing and controlling one’s identity and personal details simply and easily using a mobile device. By integrating loyalty programs into Onescan, retailers can link identity to payment and even encourage their customers to check-in for offers—that way they know when the customer has entered the store, rather than when they are leaving. It is also a fast, simple and secure mobile payment system. Anywhere users see the special Onescan Padlock payment code, they can simply open up their app, scan the code, and the transaction is done in around 10 seconds. The company has raised around $6.6 million till date.
Judo Payments: Judo provides secure in-app payments to leading companies globally. Judo’s mobile payment solution allows businesses to make payments in apps faster, easier and more secure. Judo also provides tools to build a custom mobile payment system for third parties, making mobile credit and debit card acceptance simple and affordable. The company has raised about $14.3 million in funding.
Monese: Monese is a digital banking service that let users open a UK banking account on their mobile in minutes regardless of their citizenship. Monese is a UK-based startup that targets immigrants who experience daunting tasks in opening a UK bank account as a foreigner. The mobile banking service established by Estonian Norris Koppel lets users open a current account and get a Visa debit card in just three minutes with a snapshot of their passport and a selfie. Monese’s technology is based on the cloud and removes many of the barriers that legacy banking systems impose.
Atom Bank: Atom is a startup bank. It hasn’t been launched yet, but has been authorized with restrictions by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. As a mobile-only “challenger bank,” Atom will bring biometric banking to the UK, using biometrics instead of passwords in their innovative mobile app. Atom Bank was listed at number eight in KPMG’s Global FinTech Innovators 100. Spanish bank BBVA owns almost 30% of Atom’s stakes. Founded over a year ago and based in the City of Durham, Atom is working with its partners to bring pioneering technology to Europe for the first time. Atom is building the UK’s first bank designed specifically for the digital realm, offering easy and convenient banking along with unique and engaging ways to manage money.
Azimo: Founded in 2012 and headquartered in London, Azimo is a global payment processing business providing Web and mobile based inter-country consumer money transfer services. The company has raised $31.6 million in funding. Azimo believes, that sending money abroad should be fast, easy and good value for everyone. Azimo claims to be up to 85% cheaper than the High Street banks and online money transfer companies.
Yoyo Wallet: Yoyo Wallet is an app that enables mobile payments and automated loyalty. The app collects consumer loyalty points automatically in the app and can receive offers and promotions that are relevant to them, from the retailers they favor. Yoyo Wallet is the fastest growing and largest multi-retailer mobile wallet in the UK and recently won Retail Systems’ 2015 Mobile Technology System of the Year. Yoyo provides insight and integrated marketing tools for retailers to reach targeted customer segments, drive sales, increase revenue and offer an elevated customer experience.
Osper: London-based Osper is a prepaid debit card and mobile banking service that empowers young people to manage their money responsibly. It offers a safe MasterCard prepaid debit card and a simple mobile banking app with separate logins for young people and parents. All money on Osper is safely managed by a European regulated bank.
Trustev: Trustev is an Irish company providing online fraud prevention solutions that scan transactions in real time to determine whether they are real or not. It is one of the most promising RegTech companies in Europe. The company focuses on validating the individual making the transaction, not just the payment method they’re using. The platform delivers individual, real-time decisions for every customer using multiple dynamic data sources (behavioral, transactional and social) instead of restrictive rules-based decision-making and profiling. Trustev was recently acquired by TransUnion for $21 million in cash.
Centralway Numbrs: Centralway Numbrs is the new bank branch. It is one of the most popular mobile banking applications in Germany. Centralway Numbrs enables users to manage their financial life on the go. Powerful (yet simple) functions provide control over finances without having to visit bank branch. Centralway Numbrs supports more than 3,500 financial institutions in Germany. Numbrs allows controlling all accounts in one app, seeing a detailed overview of all transactions, sending money conveniently and securely, and control income and spending at all times. The app can be used on Apple Watch as well.
Fidor Bank: Fidor Bank, based out of Munich in Germany, has been offering virtual accounts to customers since 2009. The company boasts of more than 200,000 customers. Fidor Bank is the lone major player in virtual banking to have its own banking license. Thus, it offers special services like peer-to-peer lending, crowdsourcing, and bonus payments for interactions within the community. Fidor has also been actively adopting cryptocurrencies in its banking services. The bank has partnered with Kraken, Ripple Labs and Bitcoin.de in order to showcase itself as a promising and innovative banking partner in the world of digital currencies.
Lendico: Based in Berlin, Lendico is a transparent marketplace for loans. The platform connects borrowers and investors avoiding the excessive costs of traditional banking. The savings are passed right through to the customers. Lendico does a strict quality control of all borrower projects and coordinates all payment transactions on top. The company operates in seven European countries. Earlier this year, Lendico raised €20 million from Rocket Internet, Access Industries, HV Holtzbrinck Ventures and a new investor.
Bitbond: Bitbond is a peer-to-peer bitcoin lending platform. Users can borrow bitcoins or lend bitcoins to other users. Bitbond conducts a credit rating for all borrowers before they can publish projects on its marketplace. The platform counts over 16,000 borrowers and provides loans for up to 100,000 with rates starting at 7.7%. Bitbond leverages bitcoin as a technology and payment network to create the first global market for small business loans.
Number26: Number26 builds the most modern bank account in Europe and the first one that can be managed entirely on the smartphone. The company provides more than 80,000 customers with accounts for cash withdrawals, deposits and overdraft services up to 2,000 euros via a slick smartphone app. The company has raised $13.7 million in funding from investors including Valar Ventures, the VC fund of well-known Silicon Valley venture capitalist and PayPal Co-founder Peter Thiel.
Kreditech: Kreditech is a technology company that delivers a range of custom-tailored financial services to customers across Europe and beyond. The company is focusing more on the countries with emerging economies where people have very little or no credit history. Kreditech uses 20,000 data points to assess a person’s suitability as a loan candidate, ranging from single lines in bank account statements to behavioral info such as a person’s interactions with websites and also social data. Founded in 2002, the company has raised $355 million in financing till date.
Traxpay: German startup Traxpay offers a platform that facilitates 24/7 B2B payments and transactions in real time. Traxpay’s patent pending platform uniquely combines secure, flexible, real-time electronic payments with any and all structured and unstructured data related to the transaction. The event-driven workflow engine integrates directly into corporate business systems (ERP, P2P, O2C, etc.) using dynamic data and changing business conditions to automatically adapt to changes in the who, what, when, where, why and how of a payment, while keeping all the data, changing business conditions and the transaction synchronized.
Spotcap: Spotcap is an innovative online lender for SMEs. The company was founded in 2014 by CEO Toby Triebel and COO Dr. Jens Woloszczak. Spotcap is headquartered in Berlin, with local offices in Madrid, Amsterdam and Sydney. The company is backed by Rocket Internet. Spotcap focuses on a business’ recent performance by leveraging state-of-the-art technology instead of historical financials and credit scores.
Cashcloud: Founded in 2012 in Luxembourg, Cashcloud aims to become the leading provider in e-wallet solutions for community payments, cards, couponing for deals and special localized offers through mobile. Cashcloud’s mobile e-wallet solution enables its users to exchange payments safely/easily and works with iOS and Android devices. The company has raised around $3.3 million in funding. Cashcloud’s e-wallet payments are accepted in 36 million points globally.
SetPay: Spain-based SetPay offers, to individuals and businesses, high mobility solutions to conducting face charges. SetPay mPOS allows accepting credit card payments through mobile phones, anywhere and at a lower cost than conventional means. SetPay charges a single fee of 1.99% to 0.99% per sale with no minimum. The objective of SetPay is to provide the tools that enable their users to facilitate payments, customer loyalty, and publicize offers and products.
eWise: eWise is a leading international provider of PFM and account aggregation solutions. eWise targets three customer segments: financial institutions, financial advisors and technology companies providing related digital services. The company’s first product labeled “Money Manager” helps customers understand and manage their money better, providing banks with tools (ex: account aggregation, spend analysis, categorization) to enhance engagement and expand customer relationships. The second major product offering, “Personal Data Vault,” is a software that enables customers to aggregate, store, manage and share financial information from their own device. Lastly, eWise’s “Connected Insights” product consolidates transactional data and adds external data (ex: geolocation) to create rich datasets of consumer behavior allowing business analysis and insights.
Cashforce: Cashforce offers an easy-to-implement software solution that help CFOs of large corporations manage two of their greatest challenges: cash & working capital. Among the company’s clients are Hyundai, a Suzuki importer and other large corporations. The Cashforce platform allows automating the cash flow analysis process as well as streamlining and measuring the potential cash improvement.
Avance Pay: Avance Pay AG is a fast-growing Swiss high-tech company that specializes in innovative, NFC-based solutions for major customers requiring mobile payment, mobile ticketing and mobile access technology. Avance Pay offers solutions for fast and secure contactless payments and the processing of transactions and solutions for access control.
Ledger: Founded in January 2015, Ledger is a French startup that combines the strong expertise in security, smart card, cryptography and embedded hardware. The launch of Ledger Nano—a hardware wallet—in more than 80 countries established Ledger as a reference in the international bitcoin ecosystem. The young company has just closed a seed funding round and is developing its range of products, aiming to fuel the rise of new devices of trust. Earlier this year, the company joined the FIDO alliance. Ledger offers bitcoin wallets Ledger Nano, Ledger HW.1 and Ledger Blue.
Paymium: Paymium is the company behind the Paymium bitcoin exchange, offering a secure, reliable, high-performance trading platform in compliance with European regulations. Paymium also offers merchant solutions to accept payments in bitcoin with instant conversion to euros, for every European merchant.
Kantox: Kantox offers SMEs and mid-cap companies a solution that has historically only been available to the largest of organizations. The company’s pioneering platform provides an access to live mid-market rates, updated in real-time, allowing to execute transactions with no hidden spread and 100% transparency guaranteed. Kantox is authorized by the Financial Conduct Authority, FRN: 580343, as a payment institution under the Payment Services Regulation 2009. All client funds are held in secure segregated client accounts with UK banks. The company is a full member of SWIFT, a global provider of secure financial messaging.
LemonWay: LemonWay is a secured payment solution for Internet marketplaces, e-commerce and crowdfunding. The company offers payment API, back-office management, compliance and regulatory reporting tools. LemonWay is an accredited payment institution with services passported in 29 European countries.
PayPlug: PayPlug is the first service in France to enable small professionals and merchants to accept credit card payments with very simple tools—no signup fee and no monthly costs. PayPlug offers modules to facilitate the installation of online payments on e-commerce platforms. PayPlug is compatible with several platforms including Prestashop, WooCommerce, Magento, Thelia and OpenCart. The PayPlug dashboard includes a set of features designed to improve conversion rate and simplify the management of all payments.
Adyen: Adyen enables businesses to process payments across online, mobile and POS with over 250 payment methods and 187 transaction currencies. Headquartered in Amsterdam and San Francisco, with offices across North America, South America, Europe and Asia, Adyen serves more than 3,500 businesses and four of the five largest US Internet companies, including brands such as Facebook, Uber, Airbnb, Netflix, Spotify, Dropbox, Groupon, Evernote, Booking.com, Viagogo, Yelp, Vodafone, Mango, O’Neill, SoundCloud, KLM and JustFab. Adyen is a leading technology provider powering payments for global commerce.
AcceptEmail: AcceptEmail enables simple and secure electronic billing and payment, utilizing the power of e-mail and online payments. Instantaneously generated images convey the actual bill status and show—if a user needs to pay—how much time they have got left or whether the payment has already been performed. Once the payment has been done, the payment banner in the AcceptEmail will change color directly from blue to green with no need to send a payment confirmation.
Bell ID: Banks, governments and enterprises worldwide rely on Bell ID’s software to safely issue and manage credentials on smartphones, smart cards and connected devices. The company’s software integrates with any third-party technology and simplifies the issuing complexities of payment, identity, loyalty and transit applications. Bell ID’s software is called Secure Element in the Cloud. This solution stores and manages payment credentials in the cloud rather than on the smartphone, avoiding the need for complex partnerships to gain secure access to the phone. When making transactions, card numbers are replaced by alternative numbers that are checked in real time when the phone is tapped against a payment terminal.
Bitmymoney: Bitmymoney serves the 75% of the population, who are curious about bitcoin but find it too complex or technical to start using it. The main product is an easy-to-use online bitcoin account that managing bitcoins without any knowledge of wallet software or bitcoin addresses. In October 2014, Bitmymoney silently launched the account to its 2000+ customers.
Bitonic: Bitonic’s latest product is a European exchange (BL3P) in which buyers and sellers can trade bitcoins directly through its platform. Bitonic is the only bitcoin company in the Netherlands that possesses multiple bank accounts. It was able to acquire these accounts by organizing a company as a financial institution, and by following the applicable laws and regulations of De Nederlandsche Bank. Along with trustworthiness and security, Bitonic also offers companies, traders, merchants and customers a guaranteed fast payout.
Payvision: With one of the fastest-growing global acquiring network in the world, Payvision connects banks, PSPs, ISOs and their merchants to ONE global acquiring platform. The company processes over 100 million transactions per year with a total of $3 billion in value. Among its partners are ProPay, Rentabiliweb Group, Wing Lung Bank, ControlScan, Dah Sing Bank and Virtual Piggy. The company serves more than 300 business partners, acquiring banks, ISOS, PSPS and over 5,000 merchants.
InvoiceSharing: The company enables clients to improve invoice processes and cash flow using a free electronic invoice distribution platform. Companies connect their accounting systems and distribute electronic invoices directly from their system, using the InvoiceSharing cloud, to the system of their clients. The registration is free. InvoiceSharing allows companies to lower costs and improve cash flow.
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