BlackFin Tech Weekly — April 28th, 2025
Every Monday, we publish a short digest which sums up last week’s Fintech activity
Hello FinTech Friends,
Welcome to another week of fintech insights. Let’s explore the news and trends shaping the industry!
Over the last week, there were 8 fintech deals in Europe, raising a total of €87 million in equity, 2 deals in the UK, 2 deals in Germany and one deal in each of Sweden, Switzerland, Spain and France.
Congratulations to the top 3 fund-raising companies:
Pliant, a Banktech company that provides flexible, digital corporate credit cards and expense management solutions for businesses has raised a €35.2m Series B led by Illuminate Financial and SpeedInvest.
Froda, a platform that simplifies access to financing for small lenders has raised a €20.0m Series B from Incore Invest
Hokodo, a provider of buy-now-pay-later solutions for e-commerce and B2B merchants, has raised a €10.0m Venture Round from existing investors Korelya Capital, Opera Tech Ventures, Notion Capital and Mundi Ventures
Let’s dive in
Pliant, a Banktech company that provides flexible, digital corporate credit cards and expense management solutions for businesses has raised a €35.2m Series B led by Illuminate Financial and SpeedInvest. The capital will be used to accelerate Pliant’s expansion into the U.S. market, including building a local team, developing infrastructure, and expanding its partner network. The rationale for the deal is to support Pliant’s mission of modernizing corporate card infrastructure and addressing inefficiencies in B2B payments by offering flexible, automated credit card solutions that provide real-time visibility, spend controls, and seamless integration with financial systems
Froda, a platform that simplifies access to financing for small lenders has raised a €20.0m Series B from Incore Invest. Froda provides debt financing for underserved SMEs, embedded in marketplaces and payment platforms. The investment aims to capitalize on the trend toward embedded finance, enabling Froda to offer favorable terms and a user-friendly experience to SMEs through cash flow analysis of their bank accounts. With this funding, Froda plans to accelerate product development and expand its partner network across Europe to better serve small businesses.
Hokodo, a provider of buy now, pay later solutions for e-commerce and B2B merchants, has raised €10 million in equity funding from existing investors Korelya Capital, Opera Tech Ventures, Mundi Ventures and Notion Capital. The funding will support product innovation, the rollout of new omnichannel and in-store trade credit solutions, and the scaling of operational capacity to onboard more B2B merchants across Europe. Hokodo aims to make digital trade credit accessible for both online and offline B2B transactions, leveraging AI to further digitize credit management and strengthen its position as a leading B2B Buy Now, Pay Later (BNPL) provider.
In addition to this week’s fundraising activity, here is the European M&A activity of the week:
Visma, a Norway-based provider of cloud business software for SMEs, has invested in Accountable, a Belgian fintech app focused on simplifying accounting and tax management for freelancers and self-employed professionals. Accountable connects directly to users’ bank accounts, offering real-time expense tracking, invoicing, and tax optimization tools. Through this investment, Visma enhances its portfolio aimed at self-employed individuals and accelerates Accountable’s expansion in Belgium and Germany. The integration of Accountable’s user-centric platform and real-time financial insights will strengthen Visma’s positioning in the European fintech market. Accountable will leverage Visma’s resources and network to scale its operations and establish itself as a leading solution for independent workers across Europe.
Feedzai, a Portugal-based provider of AI-driven financial crime prevention solutions, has acquired DemystData, a New York-based data integration platform specializing in external data orchestration for financial institutions. DemystData’s platform enables seamless access to third-party data sources, including identity, credit, and behavioral insights. Through this acquisition, Feedzai aims to unify data orchestration and risk management within its RiskOps platform, enhancing real-time fraud detection and AML decision-making. The integration of DemystData’s capabilities will allow financial institutions to make faster, more accurate risk decisions with minimal friction. DemystData’s technology and team, including CEO Mark Hookey, will join Feedzai to support its next phase of growth
And finally, we bring you the news stories that caught our eye last week:
Revolut posted a record £1.1 billion pre-tax profit in 2024, marking a 149% year-over-year increase, driven by 72% revenue growth to £3.1 billion. The neobank added 14.5 million customers, reaching 52.5 million globally, with customer balances surging 66% to £30.2 billion. Wealth services revenue jumped 298% to £506 million, while subscription income rose 74% to £423 million. Loan portfolios expanded 86% to £979 million, and transaction volumes neared £1 trillion. Revolut is accelerating its UK banking launch post-2023 license approval and targeting 100 million customers through expansions in India and Southeast Asia. The fintech now leads as Europe’s most downloaded finance app in 19 countries.
Barclays has partnered with Brookfield Asset Management to spin out its merchant-acquiring payments division into a standalone entity, Barclays Payments. The joint venture, valued at £2 billion, will focus on SME payment solutions in the UK and Europe. Barclays CEO C.S. Venkatakrishnan stated the move aligns with the bank’s strategy to “simplify operations and sharpen focus on core businesses.” Brookfield will provide growth capital, while Barclays retains a majority stake.
The European Commission has fined Apple €13.4 billion and Meta €5.2 billion for violating the Digital Markets Act (DMA), marking the first enforcement actions under the new regulations. The penalties address anti-competitive practices, including Apple’s restriction of third-party app stores and Meta’s data-sharing policies. Both companies plan to appeal, arguing the fines disregard “substantial compliance efforts.” The rulings signal stricter oversight of Big Tech under DMA rules, with potential operational overhauls required by Q4 2025.
Have a great start into the week!
Sources of the fundraising reports