BlackFin Tech Weekly — June 30th, 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 €215 million, two deals each in France, Germany and The Netherlands, and one deal each in Italy, Denmark, and the UK.
Congratulations to the three largest rounds announced last week:
Finom, the Amsterdam-based digital financial services platform for SMEs, has raised €115 million in a Series C round led by AVP (Atlantic Vantage Point).
Zama, the Paris-based cryptography company, has secured €49 million in Series B funding co-led by Blockchange Ventures and Pantera Capital.
Orus, the Paris-based Insurtech, has closed a €25 million Series A round led by Singular.
Let’s dive in!
Finom, the Amsterdam-based digital financial services platform for entrepreneurs and SMEs, has raised €115 million in a Series C round led by AVP (AXA Venture Partners), with participation from new investor Headline Growth and existing investors General Catalyst, Northzone, and Cogito Capital. This latest round brings Finom’s total funding to over €300 million, including a recent €92.7 million investment from General Catalyst’s Customer Value Fund. Founded in 2019, Finom serves more than 125,000 customers across Germany, France, Italy, Spain, and the Netherlands, offering a comprehensive suite of services including AI-powered financial intelligence, business banking, payment processing, invoicing, expense management, and FX—all under a single Electronic Money Institution license.
Zama, the Paris-based cryptography and privacy technology company, has raised €49 million in a Series B round led by Blockchange Ventures and Pantera Capital bringing Zama’s total funding to over €128 million, and its valuation to north of a billion USD. Founded in 2020, Zama is pioneering fully homomorphic encryption (FHE) for public blockchains, enabling end-to-end encrypted smart contracts and confidential on-chain computation. The new funding will support Zama’s mission to bring privacy-preserving technology to the blockchain ecosystem, expand its team, and accelerate product development.
Orus, the Paris-based Insurtech startup, has raised €25 million in a Series A round led by Singular, with participation from existing investors Notion Capital and Redstone. Founded in 2021, Orus provides digital insurance products tailored for the 25 million small businesses across Europe. The company will use the new funds to expand its product suite, accelerate growth in France, and prepare for European market entry, aiming to simplify and modernize insurance for SMEs.
In addition to this week’s fundraising activity, here is the European M&A activity of the week:
Eftsure, an Australian B2B payment fraud prevention platform, has acquired French fintech Sis ID to strengthen international payment verification and accelerate global expansion. Eftsure will integrate Sis ID’s IBAN verification technology and French operations to offer a unified fraud prevention solution across Europe, the US, and Australia. The acquisition brings Eftsure’s total client base to over 3,500 companies and expands its local presence with teams now operating in three continents.
Kadmos, a Germany-based salary payment platform for seafarers, has been acquired by Japanese shipping giant NYK to enhance maritime fintech services. NYK will integrate Kadmos into its platform to offer digital payroll solutions for seafarers of all nationalities. The acquisition combines Kadmos’ end-to-end salary tech with NYK’s financial services infrastructure, supporting their ambition to enable fully cashless vessel operations and broaden its fintech offering.
And finally, we bring you 4 news stories that caught our eye last week:
Wealthfront, the Palo Alto-based automated wealth management platform, has confidentially filed for a U.S. initial public offering as investor interest in fintech listings returns. Founded in 2008, Wealthfront offers automated investing, cash management, and AI-driven financial planning, targeting younger and tech-savvy clients. The company was last valued at $1.4 billion in 2022 after a proposed acquisition by UBS was abandoned. Wealthfront’s IPO follows successful fintech listings from peers like Chime and eToro, signaling renewed confidence in the sector. The number of shares and price range for the IPO have not yet been disclosed.
The UK’s Competition Appeal Tribunal has ruled that multilateral interchange fees charged by Visa and Mastercard to retailers breach European competition law. The fees, challenged by major UK merchants like Sainsbury’s, Asda, and Morrisons, were found to be excessive, non-negotiable, and anti-competitive, inflating costs and restricting price competition. The tribunal concluded the fees were unnecessary for card scheme operations. Both Visa and Mastercard plan to appeal, but the ruling opens the door for retailers to seek billions in damages and sets a significant precedent for payment industry regulation.
Fiserv, a global payment and fintech leader, has launched the FIUSD stablecoin, designed for banks and financial institutions and integrated into its digital asset platform. FIUSD, built in partnership with Paxos and Circle, will be available to Fiserv’s network of 10,000 financial institutions and six million merchants, enabling instant, secure, and interoperable digital asset transactions. The token, issued on the Solana blockchain, will be offered at no additional cost to clients, with plans to expand stablecoin and tokenized deposit use cases in the U.S. and internationally.
Chase, the UK digital bank backed by JPMorgan, has launched its first credit card, offering 0% interest on purchases for up to 15 months, no annual fees, and no foreign exchange fees. The card, available to Chase UK’s two million customers, features competitive exchange rates, real-time balance updates, instant notifications, and in-app controls to freeze or unfreeze the card and manage spending. Like its debit card, the new credit card is numberless, with details securely stored in the app.
Have a great start into the week!
Sources of the fundraising reports