German Fintech Nelly Achieves €10 Million ARR Growth in Nine Months
Nelly, a fintech company based in Germany, boosted its live ARR by €10 million in just nine months, signalling rapid growth in its revenue stream.
Fintech
Starling Bank Deploys AI System, Triggering Staff Concerns Over Job Security
Starling Bank, the UK‑based challenger bank, rolled out an artificial‑intelligence platform to automate parts of its workflow. While the move aims to improve efficiency, employees have voiced worries that the technology could replace human roles and affect service quality.
Romanian Fintech Salt Bank Launches Integrated Business Platform Combining Savings Account and Mobile Payments
Salt Bank introduced Salt Business, adding a Business Savings Account that pays interest from the first leu saved (up to 4% per year) and a Salt POS mobile app that enables merchants to accept contactless card, Apple Pay and Google Pay payments directly from their phones, with a 1% transaction fee and free monthly administration for qualifying businesses.
Revolut Establishes Dedicated AI Research Unit to Build Proprietary Financial Models
Revolut has launched a new internal AI research division to build its own AI models for the fintech sector, emphasizing in‑house development over third‑party tools.
Amsterdam Fintech Neno Raises €6.6 Million to Expand AI-Powered Back-Office Automation Across Europe
Amsterdam‑based startup Neno secured €6.6 million in Seed capital led by AlleyCorp to build an AI‑native back‑office suite that automates accounting, tax, payroll and banking for SMEs, aiming to save entrepreneurs over 100 hours per year and expand across Europe by 2027.
QuantumLight Closes $500 Million Second Venture Fund to Back AI and Crypto Startups
QuantumLight, the venture capital firm created by Revolut co‑founder Nikolay Storonsky, closed a $500 million second fund, twice the size of its first fund, to back high‑growth tech companies across AI, crypto, fintech, SaaS and healthtech. The fund is managed by CEO Ilya Kondrashov and will use an AI‑driven selection platform called Aleph to pick investments.
Two Years In, Wero Struggles for Recognition in Germany Despite European Expansion Plans
Wero, a European fintech payment solution, is still largely unknown among German consumers two years after its launch, with low brand awareness and usage rates, though awareness is rising and the company plans to take over the iDEAL system in the Netherlands.
Polish Digital Assets Platform Investly Raises 4.2 Million PLN in Seed Funding Round
Polish fintech Investly, which offers a platform for investing in digital assets, completed a seed round of 4.2 million zł, backed by VO2 Ventures, IPOPEMA and private investor Maciej Duda. The funds will be used to launch the product commercially, strengthen compliance capabilities and expand into European markets.
UK Spinout Investor Northern Gritstone Opens San Francisco Office to Tap Silicon Valley
Northern Gritstone, a UK-based spinout investment firm, is expanding its operations by opening an office in San Francisco, aiming to strengthen ties with Silicon Valley and support its portfolio companies.
Swedish Fintech Lendo Seeks Banking Licence Amid Regulatory Crackdown on Loan Platforms
Swedish fintech Lendo is awaiting regulatory approval for its banking licence request following a government crackdown on loan sites. The company hopes the Financial Supervisory Authority will approve the application.