news

News

After acquiring PagoEfectivo and SafetyPay this month, London-based fintech company Paysafe has signed a definitive agreement to acquire market-leading German fintech company, viafintech, in an all-cash transaction.

The acquisition not only boosts Paysafe growth opportunities in Germany but also creates revenue-generating opportunities to cross-sell viafintech’s alternative banking and payments solutions to its merchants around the world.

The strategic acquisition also allows Paysafe to solidify its position as a global market leader for eCash and open banking solutions. On completion of the three acquisitions, the Paysafe eCash business will be able to offer eCash and open banking solutions in over 60 countries with over one million distribution points.

As part of the deal, the viafintech team, including viafintech’s managing directors, Sebastian Seifert, Achim Bönsch, and Andreas Veller, will become part of Paysafe’s expanding eCash and open banking solutions’ team which is headed up by Paysafe eCash CEO, Udo Müller.

The transaction is expected to close over the coming months, subject to customary closing conditions and in accordance with applicable laws and regulations.

Founded in 2011, viafintech offers digital payment solutions which enable consumers to make deposits or withdraw cash from their digital bank accounts at a nearby retail store using a barcode. 

The company’s solutions are also used widely for bill payments and credit payouts, as well as for online shopping in general, supporting consumers in the region who don’t have bank accounts, or who simply prefer the heightened security of using eCash to pay online.

Click here to read the full article.

Evaluations and analysis of boards and management teams involve manual elements and consultant-heavy processes. Also, it was very limited to have a transparent, automated and data-driven process. There is a heavy demand for boards and management groups to switch to the modern digital evaluation process with digitalisation.

Female founded Swedish company BoardClic addresses this issue by selling a SaaS-based product for digital board and management team evaluations. The company just raised €1.6 million (nearly £1.4 million) in a seed round led by Subvenio Invest. All existing owners including Curitas Ventures, Brofund and the company’s founders also participated in the financing round.

The capital will be used for continued investments in product development and to accelerate the company’s rapid expansion both in the Nordics and the UK.

“It has only been a matter of time until digitalisation and relevant data should enhance the board work. At BoardClic, we have made this happen, as we give boards an opportunity to focus on what is really important, and gain an understanding of how they can increase the degree of efficiency and value-creation. It is important to work regularly and frequently to analyse the board’s performance, in a time-efficient manner of course. With new capital, we look forward being able to meet the great demand we see globally even faster,” said Monica Lagercrantz, founder and CEO of BoardClic.

“BoardClic has an exciting and attractive offering with a clearly defined product that creates real value for its customers at both a company and an owner level. The company’s offering ties in nicely with a number of fundamental drivers, including the strong digitalisation trend, increased ESG focus both from a regulatory and business-driven perspective, as well as a willingness among companies and their owners to improve and streamline processes at a board and management level. In three years, the company has successfully built an attractive product, attracted a strong customer portfolio and established a number of exciting collaborations. We are impressed with the team’s performance and look forward to supporting the company in its continued expansion”, said Patrik Östersgård, Partner at Subvenio Invest.

Click here to read the full article.

With a mission to clean up and disrupt the world of nutritional supplements, UK-based digital health startup Feel has recently raised £3 million investment from ITV AdVentures. Feel is one of the portfolio companies of Mark Pearson’s Fuel Ventures. 

The London-based startup will be one of the first brands to join ITV AdVentures ‘media for equity’ investment portfolio. ITV has agreed to subscribe for up to £3 million convertible loan notes in the startup in three tranches. 

Attempting to clean up the unhealthy world of nutritional supplements and producing high-quality supplements following an exceptional first year of growth, the company that was founded in 2019, will now commence its tailored media campaign across ITV’s channels later this year. 

Operating on a direct-to-consumer subscription model, Feel’s cleaner, fresher approach to health and wellbeing has resulted in rapid growth, exceeding all expectations. 

With its research-backed formulas containing natural ingredients, free from nasty additives – the company’s goal is to make affordable, high-quality products within reach for people across the UK. 

The ITV investment is followed by the recent announcement of Feel’s equity partnership with superstar, health dedicatee Cheryl. As an equity partner in the business, Cheryl will work with the Feel team to develop new offerings, expand and unlock new audiences and represent the brand’s goals. 

Launched earlier this year, ITV AdVentures Invest is building a diversified portfolio of high-growth and innovative brands, having previously invested in the location app what3words and the online menswear brand Spoke.

Feel’s Founder and CEO Boris Hodakel said: “To achieve our next stage of development, we looked for a leading media partner with a trusted brand and the broadest commercial reach in the UK. We are not here to create a brand for a select few; we want everyone in the UK to be able to benefit from our science-based nutritional supplements.”

Click here to read the full article.

Austria’s digital investment platform, the country’s first unicorn, Bitpanda has bagged $263 million (nearly £190 million) in Series C funding, which values it at $4.1 billion (nearly £3 billion). This round has come just months after the company attained unicorn status. It was led by Valar Ventures along with the participation of Alan Howard and REDO Ventures and existing investors LeadBlock Partners and Jump Capital.

Headquartered in Vienna, Bitpanda now has a diverse team of over 500 people who represent over 50 nationalities and physical tech hubs and offices in 8 cities across Europe, including Vienna, Barcelona, Berlin, Krakow, London, Madrid, Milan, and Paris. Recently, it announced the opening of its remote-first Blockchain Research & Development hub, focused on uniting talent around Europe to build state-of-the-art technologies that leverage blockchain for the future, and it plans to open new offices in Europe.

Eric Demuth, Co-Founder & CEO of Bipanda, said: “The future of Bitpanda is being a number one investment platform in Europe for everyone. International expansion and growth are our key priorities: we’ll keep building the team, opening new offices, and launching new products as we design for scale and optimise for growth. This also means strengthening Bitpanda’s position in existing markets – such as in the DACH region, Spain, France, Italy, and Poland, and also entering new markets, such as the UK or the markets in Central and Eastern Europe.”

Bitpanda will use the funds to strengthen its team and design the organisation for scale while doubling down on state-of-the-art technology, international expansion and growth. Also, four key executive hires have joined the team to shape the future growth trajectory of Bitpanda. The new appointees are Lindsay Ross, ex-Adyen and MessageBird, as Chief HR Officer; Irina Scarlat, ex-Revolut and Uber, as Chief Growth Officer; João Luís, ex-Farfetch, as VP of Engineering; and Michael Keskerides, ex-N26, as VP Product.

Click here to read the full article.

Hopper, a Montreal, Canada-based mobile-first travel marketplace, completed a $175m Series G financing.

The round was led by GPI Capital with participation from Glade Brook Capital, WestCap, Goldman Sachs Growth and Accomplice.

The company intends to use the funds to continue to expand operations and its business reach and customer support.

Led by Frederic Lalonde, CEO and Co-Founder, Hopper is a mobile-first travel marketplace which leverages massive amounts of data and machine learning to develop fintech solutions for customers to travel and save money. Through its B2B initiative, Hopper Cloud, the company is syndicating its fintech solutions, infrastructure, and agency content.

Hopper is hiring an additional 500 employees, of which 300 of them are focused on customer service. The company is actively looking to acqui-hire other teams in travel, data science, or engineering-heavy startups to introduce new product offerings and accelerate international expansion. Hopper recently integrated the teams of Journy and Mowgli, which will accelerate entry into new travel categories such as home rentals and regional expansion to Europe.

Disruption is happening everywhere! Retailers need to keep up with customer demands and expectations to keep their business running. Consequently, this has led to innovative solutions that no one thought possible just a few years ago. 

New technologies, increased consumer choice, and fiercer competition has fuelled a sharp rise in the density of urban supermarkets.

In the latest development, Amazon has started adding own-brand groceries to its UK website to make gains in the grocery sector. The customers can add hundreds of ‘By Amazon’ and ‘Our Selection’ products into their carts in the upcoming days. 

As per the report, Amazon is planning to promote the service through advertisement to attract more customers. The range spans fresh produce, ready meals, and other cupboard essentials. 

It’s worth mentioning that Amazon started offering free grocery delivery to Prime customers in Britain last summer to take on traditional grocery stores. 

The Amazon Fresh store in Ealing, West London is a ‘contactless’ shop available to anyone signed up on the Amazon app on their phone. Customers need to scan in a code on their phone to enter the shop. 

Click here to read the full article.

Cardiovascular disease is the leading cause of mortality globally, with an estimated 17 million deaths each year. Thanks to development in medical technology and clinical research, imaging tests and diagnostic measurements are constantly evolving, particularly in cardiology. 

Meet Ultromics, an Oxford-based startup that aims to help clinicians to make fast, accurate decisions when using ultrasound images to diagnose cardiovascular disease.

Recently, the UK company has secured $33 million (approx £23.7 million) in a Series B funding round led by Blue Venture Fund with participation from Optum Ventures, GV, and existing investor Oxford Sciences Innovation.

“Cardiovascular disease is the leading cause of morbidity and mortality in the United States, and Ultromics offers groundbreaking AI solutions for more accurate diagnosis,” said Dr. Emir Sandhu, Managing Director at the Blue Venture Fund. “We are excited to partner with Dr. Ross Upton and the Ultromics’ team, as they promote improved patient outcomes.”

The company will use the funding to help accelerate the use of AI-enabled echocardiograms to help improve patient care and bring improved diagnostic quality and resource savings to hospitals.

Founded in 2017 by Ross Upton and Paul Leeson, Ultromics is a spin-off of the University of Oxford and built-in partnership with the UK’s NHS. The company has developed the first fully automated solution for echocardiography (EchoGo Core and EchoGo Pro) and analysis of global longitudinal strain (GLS).

Click here to read the full article.

We’re expanding Ardent and looking for two ACA qualified individuals to join our tech focused Corporate Finance team.

Ardent works with exciting high growth companies in the digital commerce arena and we are looking for an Associate and an Associate Director to join our growing team.

If this is of interest, please email, our head of HR, Georgia (gderlanger@ardentadvisors.com) for more details.we're-hiring

Tembo Money is a London-based fintech company working on the mission to transform consumer lending through the power of family. Now, the company announced that it has closed a £2.5 million funding post its official launch in June 2021.

The investment round was led by Aviva and Fair by Design, the venture fund managed by Ascension Ventures and backed by Nationwide, Big Society Capital and Joseph Rowntree. The funds will help Tembo optimise its technology and drive the expansion of its offering as the company continues to focus on its mission to address the ‘poverty premium’ and help millions of prospective homeowners buy their first property sooner.

Speaking on the news, Tembo Co-Founder and CEO, Richard Dana said: “The average first-time buyer is confronted by a number of significant obstacles on their route to homeownership, and for many these were thought of as insurmountable. We’re on a mission to change this mindset and help turn the tide on the generational wealth gap, by helping families work together to give first-time buyers a fast, affordable way to increase their deposit. This funding will allow us to do that, and we’re incredibly happy that major players in finance and technology like Aviva and Fair by Design are joining us on this journey.”

Being the brainchild of finance and technology expert Richard Dana, Tembo’s portfolio includes a range of specialist mortgages from leading lenders in the UK. Its family lending products – Income Boost and Deposit Boost allow first-time buyers to lean on loved ones to help them buy the property without requiring their families to have a cash lump sum.

Click here to read the full article. 

Suma Brands, a Minneapolis-based platform for acquiring and scaling Amazon FBA businesses, closed a $150m Series A funding.

The round was led by Pace Capital and Material alongside a credit facility led by i80 Group. These financings bring the total amount raised by the company, which launched last year and has been operating in stealth mode, to over $150M.

The company intends to use the funds to continue accelerating their pace of acquisitions of Amazon FBA businesses and expand their diverse portfolio of e-commerce brands, and hiring e-commerce, Brand Management, and Supply Chain talent to expand its operating platform.

Co-founded by Matt Salzberg, Founder and former CEO of Blue Apron, Andy Salamon, co-founding investor in Hims and Hers, Danielle David Parks, and Jon Dussel, former CFO of Dolls Kill) and led by Co-founder and CEO Andrew Savage, Suma Brands is an commerce platform focused on acquiring and developing marketplace brands by applying enterprise-level operating resources to scale them.

Headquartered in Minneapolis, the company is building a national presence with remote work optionality and planned offices in New York City and Los Angeles.