BlackFin Tech Weekly — April 7th, 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 9 fintech deals in Europe, raising a total of €120 million in equity, 4 deals in France, 2 deals in the UK and one deal in each of Italy, Denmark and Spain.
On the BlackFin side, we’re thrilled to partner with Weefin, an ESG and extra-financial data management SaaS platform for large financial institutions, by leading their €25m Series B round!
Congratulations to two other largest rounds announced last week:
Pennylane, an accounting platform for SME’s, has raised a €75m venture round from Sequoia Capital, CapitalG, Meritech and DST Global.
Grace, a luxury good theft and loss coverage solution, has raised a €5.9m seed round from Speedinvest, FinTech Collective, Firstminute Capital, Kima Ventures and Bpifrance.
Let’s dive in:
WeeFin, a SaaS platform for financial institutions, to help them scale and industrialize their ESG data management and enhance their investment practices, has secured a €25 million in a Series B funding round led by BlackFin Capital Partners, with participation from IRIS, Asterion Ventures and Ring Capital. The company plans to use the funds to expand its European presence, including entering markets in Luxembourg and Italy, and opening a UK office. Additionally, WeeFin aims to double its workforce by hiring over 100 new employees in the next three years. Founded in 2021, WeeFin offers a SaaS platform that centralizes data for managing extra-financial investment strategies, serving clients like Generali Asset Management and Groupe BPCE, across Europe.
Pennylane, a Paris-based accounting platform, has raised an additional €75 million in funding from Sequoia Capital, CapitalG, Meritech, and DST. The funds will be used to strengthen its position as a leading solution for European businesses and accounting firms, particularly in light of new electronic invoicing regulations across the continent. Founded in 2020, Pennylane's platform is utilized daily by 4,500 accounting firms and 350,000 of their clients. The company aims to further invest in integrated financial management services and support accounting firms in evolving into strategic advisors.
Grace, a French fintech specializing in protection services for luxury brands, has raised €5.9 million in seed funding. The investment round was led by Speedinvest and FinTech Collective, with participation from Firstminute Capital, Kima Ventures and Bpifrance. The funds will be used to accelerate the development of Grace’s proprietary technology, strengthen operational capabilities, support international expansion, and recruit talent to facilitate growth. Grace aims to revolutionize luxury brand protection by offering embedded insurance and guarantee services directly within merchants' checkout experiences, enhancing trust and customer retention.
In addition to this week’s fundraising activity, here is the European M&A activity of the week:
Archax, a regulated digital asset exchange, has acquired Globacap’s private market infrastructure (PMI) business, supporting its expansion into the U.S. and strengthening its technology offering. Globacap’s PMI platform enables private companies to manage fundraising, investor records, and share trading through automation and blockchain technology. By integrating this platform, Archax will offer a more complete solution for tokenized securities and private market operations. The PMI business will now operate under the Archax brand, while the remaining part of Globacap will continue independently, focusing on capital raising and secondary trading solutions.
Nayax, a global fintech company specializing in cashless payment solutions and management platforms for retail environments, has acquired Inepro Pay, a distributor in the Benelux region. Inepro Pay has been instrumental in providing Nayax's payment systems to businesses in the Netherlands, Belgium, and Luxembourg. By integrating Inepro Pay's operations, Nayax aims to enhance its presence in Europe, streamline customer support, and accelerate growth in the region. The acquired operations will now function as Nayax's full-service office in the Netherlands, complementing its existing European offices. The remaining parts of the Inepro Group will continue independently, focusing on their other technology and service offerings
And finally, we bring you some news stories that caught our eye last week:
Klarna has postponed its highly anticipated IPO on the New York Stock Exchange due to market instability triggered by President Donald Trump’s recent announcement of sweeping tariffs. The Swedish fintech giant, had planned to raise $1 billion at a valuation exceeding $15 billion. The decision follows significant stock market turbulence, with global investors reassessing risks linked to trade policies and inflation. Klarna had already filed its SEC registration last month and was set to begin marketing shares this week. However, sources close to the company noted that there is no regulatory obligation to proceed immediately, allowing Klarna flexibility in timing its public debut.
Visa and American Express (Amex) are competing to replace Mastercard as the payment network for the Apple Card. Reports suggest that Visa has offered Apple a $100 million upfront payment to secure the deal, while Amex aims to act as both issuer and network provider. The partnership dynamics have shifted as current issuer Goldman Sachs seeks to exit due to high losses exceeding 7%. Analysts note that Visa's extensive relationships with card issuers and advanced tokenization technology could give it an edge over competitors like Amex.
PrimaryBid, a UK-based fintech platform that enables retail investors to participate in IPOs and capital raises alongside institutional investors, is reportedly in discussions over a potential sale. The platform has raised approximately $2 billion for listed companies since its founding in 2016. PrimaryBid previously secured $190 million in Series C funding led by SoftBank Vision Fund 2 in 2022 and $50 million in Series B funding backed by London Stock Exchange Group (LSEG). However, LSEG recently wrote down the value of its investment in PrimaryBid amid challenging market conditions for fintech acquisitions.
Have a great start into the week!
Sources of the fundraising reports