BlackFin Tech Weekly — June 2nd, 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 7 fintech deals in Europe, raising a total of €200 million in equity, two deals in the UK, and one deal each in Finland, Belgium, Luxemburg, Spain and Denmark.
Congratulations to the three largest rounds announced last week:
Dojo, a provider of card payment solutions for SMEs in the UK and Ireland, raised a €166m PE round led by Vitruvian Partners
Inven, an AI deal sourcing platform, raised a €11.2m Series A round led by Ventech and Vendep Capital, with support from existing angel investor Risto Siilasmaa and existing backers Lifeline Ventures and Joint Effects
Payflow, a Spanish mobile app that allows employees to get paid whenever they want, raised a €10m round from Cusp Capital
Let’s dive in
Dojo, a London-based payments technology provider, has secured a €166 million investment from Vitruvian Partners. The funding will support Dojo's strategic expansion across key European markets, including Ireland, Italy, and Spain. Dojo offers a cloud-native platform delivering in-person and digital payment solutions, along with services like business funding and booking management. Its technology enables rapid installation, providing businesses with instant insights to manage and measure card payments securely. Currently, Dojo processes between 6 and 9 million transactions daily, empowering over 140,000 businesses to enhance their in-person commerce.
Inven a Helsinki-based AI-native deal sourcing platform, has secured €11.2 million in Series A funding led by Ventech and Vendep Capital, with participation from angel investor Risto Siilasmaa and existing backers Lifeline Ventures and Joint Effects . Founded in 2022 by former McKinsey and BCG consultants, Inven addresses inefficiencies in private market deal sourcing by continuously analyzing over 21 million companies to uncover hidden opportunities. Serving over 700 firms globally, including Fortune 500 companies, Inven plans to use the funds to expand its team and accelerate growth across North America and key financial hubs worldwide.
Payflow, a Spanish fintech, has secured €10 million in a funding round led by Germany's Cusp Capital, now its largest shareholder. Founded in 2020, Payflow offers earned wage access solutions, allowing employees to access their salaries on demand. Operating in Spain, Portugal, Colombia, and Peru, the company serves over 1,000 clients, including Lidl, Mango, and Decathlon. With a lean team of under 50 employees, Payflow reports annual revenues exceeding €6 million and a gross margin above 70%. Its new product, Flexflow—a Mastercard for flexible benefits—already contributes 15% to revenues. The funds will bolster its presence in existing markets.
In addition to this week’s fundraising activity, here is the European M&A activity of the week:
Wolters Kluwer, a global information services provider, has agreed to acquire Brightflag, a Dublin-based provider of AI-powered legal spend and matter management software, for approximately €425 million in cash. Brightflag helps corporate legal departments manage matters, control legal budgets, process invoices, and gain visibility on external counsel costs through advanced analytics. The deal expands Wolters Kluwer’s offering to mid-size enterprises in the U.S. and Europe. The transaction is expected to close in June 2025.
Diginex, the sustainability-focused regulatory technology provider, has signed a memorandum of understanding to acquire Matter, a Copenhagen-based ESG data company serving the investment industry, in an all-share deal valued at $13 million. Matter offers sustainability data and analytics solutions to help financial institutions understand and communicate the ESG impact of investments. The acquisition aims to enhance Diginex's ESG data capabilities. Matter will continue operating under its own brand, with its founding management team remaining in place under multi-year employment agreements. The transaction is subject to customary closing conditions
And finally, we bring you the news stories that caught our eye last week:
Bunq, the Dutch neobank, has integrated Bizum into its platform, allowing Spanish IBAN holders to send and receive instant payments. The move strengthens Bunq's position in Spain, where it has tripled its user base and grown deposits by 320% in 2024. Recent launches include Bunq Crypto, enabling users in six European countries to invest in digital assets directly from the app. Bunq is also preparing for a US entry, having applied for a broker-dealer license to serve digital nomads and entrepreneurs with equities, mutual funds, and FDIC-insured cash management.
Circle, issuer of the USDC stablecoin, has filed for an IPO on the New York Stock Exchange, aiming to raise $624 million. BlackRock is reportedly seeking a 10% stake in the offering, while Ark Invest plans to invest $150 million. Circle reported $1.67 billion in 2024 revenue, with USDC holding a $60.9 billion market cap and 24.6% stablecoin market share. The IPO has attracted strong demand, with orders for multiple times the available shares, as Circle looks to expand its global digital asset footprint.
Genome, a European EMI, and Sepagon, an open banking technology provider, have partnered to deliver real-time, card-free payments for businesses. By integrating Genome’s secure APIs and instant payment notifications, Sepagon can now offer immediate payment confirmations and automated tracking for SEPA Credit and Instant Transfers. The collaboration aims to reduce processing times, bypass card fees, and enhance transparency—supporting the shift toward faster, more efficient open banking solutions across Europe.
Have a great start into the week!
Sources of the fundraising reports