BlackFin Tech Weekly - September 8th, 2025
Every Week, 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 four fintech deals in Europe, raising a total of €37.6 million, including transactions in France, Belgium, Germany, and Switzerland.
Congratulations to the three largest rounds announced last week:
Zefir, a France-based collective real estate platform using AI to speed up home sales, has raised €15 million in a Venture Round led by FinTech Collective, with participation from Sequoia Capital, Zigg Capital, FJ Labs, TX Ventures, and Heartcore.
Lizy, a Belgium-based banktech offering circular leasing of second-hand electric cars for companies, has raised €10 million (and €60m in debt) in a Series B round led by NewAlpha Asset Management, with participation from D’Ieteren and Alychlo.
Tangany, a Germany-based crypto infrastructure provider offering white-label B2B custody of digital assets, has raised €10 million in a Series A round led by Baader Bank AG and Elevator Ventures, with participation from Raiffeisen Bank International, Heliad Crypto Partners, HTGF, and Nayuta Capital.
Zefir, headquartered in France, provides a collective real estate platform that leverages AI to speed up home sales. The company has raised €15 million in Venture Round funding led by FinTech Collective, alongside Sequoia Capital, Zigg Capital, FJ Labs, TX Ventures, and Heartcore. The new funds will support product development and further expansion in the European proptech market.
Lizy, based in Belgium, offers companies a circular leasing solution for second-hand electric cars. The company has raised €10 million in Series B funding led by NewAlpha Asset Management, with participation from D’Ieteren and Alychlo. The funding will accelerate growth and help scale Lizy’s sustainable mobility offering across Europe.
Tangany, headquartered in Germany, provides a white-label B2B solution for the custody of digital assets. The company has raised €10 million in Series A funding led by Baader Bank AG and Elevator Ventures, with participation from Raiffeisen Bank International, Heliad Crypto Partners, HTGF, and Nayuta Capital. The capital will be used to expand Tangany’s custody services and strengthen its position in the European digital asset ecosystem.
In addition to this week’s fundraising activity, here is the European M&A activity for the week:
Stoïk, a France-based cyber insurance MGA targeting SMBs and backed by AIG as risk carrier, has announced the acquisition of Cyber Contract, a Belgium-based cyber insurance player created in 2014. The deal, currently pending, expands Stoïk’s footprint in Belgium and significantly enhances its product capacity: maximum insured capital rises from €3 million to €10 million, and the ceiling for insurable turnover increases from €150 million to €1 billion. As part of the transaction, Stef Vermeulen, former manager of Cyber Contract with extensive experience in cybersecurity and management, will become Stoïk’s country manager in Belgium.
Zopa, a UK-based online bank offering deposit accounts, personal loans, and credit cards, has announced the acquisition of Rvvup, a London-based smart payment orchestration platform. The deal, currently pending, enables Zopa to expand beyond lending into payments orchestration, providing merchants with a single integration, lower costs, better data, and smoother checkout. For consumers, the transaction means faster and more flexible payment options. Strategically, the acquisition positions Zopa as a leading UK retail finance player and accelerates its embedded finance capabilities.
Coincheck Group N.V., a Netherlands-based, Nasdaq-listed holding company, has announced the acquisition of Aplo SAS, a Paris-based regulated institutional crypto prime brokerage. The share-exchange agreement, signed on September 2, 2025, marks Coincheck’s first overseas acquisition and is expected to close in October 2025, subject to customary conditions. The transaction expands Coincheck’s institutional service offering and strengthens its position in the European digital asset ecosystem.
And finally, we bring you four news stories that caught our eye last week:
Brex is expanding into Europe after securing a licence to serve businesses headquartered on the continent, as the U.S. fintech positions itself for an eventual IPO. The $12bn corporate card provider, backed by Peter Thiel and other Silicon Valley investors, plans to roll out services across Europe and the U.K., targeting a market worth up to $5bn annually. CEO Pedro Franceschi said the company is nearing profitability for the first time, with annualised gross revenue reaching $700mn in August. The move puts Brex in direct competition with American Express and rival start-up Ramp, which recently raised at a $22.5bn valuation. Founded in 2017, Brex was one of the fastest-growing fintechs during the low-rate era but faced setbacks as funding slowed. An internal overhaul, including layoffs and a cultural reset, helped revive growth. Franceschi said the turnaround came from narrowing focus, improving sales, and raising performance standards, setting up Brex as a test case for fintech resilience after the boom years. The company’s European launch marks its boldest step yet in proving it can scale globally while sustaining profitability.
JPMorgan will launch its digital retail bank, Chase, in Germany in the second quarter of 2026, marking its biggest European expansion since entering the U.K. in 2021. The U.S. lender plans to open with a savings account, reflecting strong demand for deposit products, and will gradually broaden its offering. About 100 staff have already been hired in Berlin, where JPMorgan expects to establish its German headquarters by the end of next year. The move brings Chase into one of Europe’s most competitive banking markets, dominated by Deutsche Bank, Commerzbank, local savings banks, and digital challengers like N26 and Trade Republic. Chase has already amassed more than 2mn U.K. customers, but growth there has been limited by regulatory ringfencing rules. CEO Jamie Dimon has made European expansion a strategic priority, positioning JPMorgan to build a pan-European digital bank that leverages its $4tn balance sheet and global reach.
Figure Technologies is seeking a valuation of up to $4.13bn in its upcoming IPO, aiming to raise as much as $526mn through the sale of 26.3mn shares priced between $18 and $20. The blockchain lender, co-founded in 2018 by Mike Cagney, runs a platform for lending, trading and consumer credit built on blockchain rails. The listing comes amid renewed momentum for crypto firms as regulatory clarity improves and institutional adoption accelerates, with recent IPOs from Bullish and Circle boosting sentiment. Figure reported a $29mn profit in the first half of 2025 after a year-earlier loss, underscoring its turnaround. Backed by underwriters Goldman Sachs, Jefferies and BofA, the company plans to debut on Nasdaq under the ticker “FIGR,” betting investor appetite for digital-asset plays remains strong.
Revolut has appointed former Societe Generale CEO Frederic Oudea as chairman of its Western Europe hub in Paris, strengthening its bid to secure a French banking licence. The hire adds credibility as the $75bn fintech expands aggressively in France, where it plans to invest €1bn over three years and has opened a new Paris office to anchor its regional operations. Revolut, which serves more than 60mn customers worldwide but has no branches, gained a restricted U.K. banking licence in 2024 after a three-year process and expects to begin operating as a bank there this year. It also holds a Lithuanian licence for EU operations, and a spokesperson said a licence in France would help build closer ties with regulators and allow more tailored services for local customers. The company is also pursuing a share sale that values it at $75bn, up sharply from $45bn a year earlier, and is weighing entry into U.S. banking by acquiring a local lender. Revolut’s strategy highlights the growing convergence between challenger banks and traditional finance, with rivals such as N26 also recruiting high-profile figures to bolster governance and credibility as they expand.
Have a great start into the week!
Sources of the fundraising reports