Andrew Steele’s Post

Aeropay secures a $20 million series B to offer an alternative to Visa and Mastercard #Aeropay, a Chicago-based #fintech startup, is making waves in the payments industry by offering an alternative to Visa and Mastercard. Specializing in pay-by-bank solutions, Aeropay initially focused on cannabis and gaming retailers and is now expanding its innovative payment network to challenge traditional card networks. The company was co-founded by Daniel Muller, who serves as CEO. Muller brings extensive experience in digital payments from his time as head of product for brands like Best Buy and Adidas. His vision for Aeropay is to provide regulatory compliant, cashless, and contactless digital payments for businesses. Aeropay recently secured a $20 million Series B round led by Group 11, with participation from Chicago Ventures and Continental Investors. This brings their total funding to $35 million. Group 11, known for backing fintech companies, sees Aeropay as a significant player in disrupting traditional payment networks. Aeropay operates primarily in the cannabis and gaming industries, offering solutions where traditional card networks face regulatory challenges. With over 12,000 bank connections, Aeropay's technology allows merchants to facilitate bank-to-bank transfers, eliminating the need for card networks. By avoiding card networks, Aeropay reduces transaction fees for merchants, potentially leading to lower costs for consumers. Aeropay's focus on compliance from the outset positions it as a trustworthy partner for businesses in regulated industries. With a 10x revenue growth and over $1 billion in annual processing volume, Aeropay is poised for significant expansion. The new funding will help develop their team and enhance distribution to reach more merchants. Aeropay’s bank-to-bank transfer system offers a seamless, low-risk payment solution that could redefine how businesses handle digital payments. The article on TechCrunch in the first comment. Want to stay up to date with the market? Here my newsletter: - Linkedin: https://t.ly/s541W   - Substack: https://lnkd.in/dzfGJzmW

The big conversion gap in ecommerce payments is leaving tens of millions in revenue on the table, but "there's no reason technically why those transactions shouldn't be going through," Mark Nelsen, SVP of Consumer Payments at Visa, notes during his recent Empire Startups panel. That's precisely why conversion optimization is the biggest trend right now. Want to hear more of Mark's insights? Check out the full talk linked in the comments! 👇 #ecommerce #fintech #payment #retail #checkout

🚨 𝗡𝗲𝘄𝘀 𝗙𝗹𝗮𝘀𝗵:  Zilch, the ad-subsidised payments network (ASPN), announced it has selected Checkout.com as its primary acquiring partner globally, with a particular focus on the UK and USA. With its payments network supporting over 145 currencies and domestic acquiring coverage in over 45 markets, Checkout.com will help Zilch continue to offer the fast and reliable high-performance payments that its expanding customer base has come to expect from its regulated payment network. Philip Belamant, CEO & Co-Founder of Zilch, said: “Checkout.com’s innovation and robust track record in partnering with some of the world’s biggest companies made the decision to expand our partnership an easy one. Having worked together for over two years, I’m certain that this move will be a game changer in our tech stack and payments infrastructure.” “In addition, Zilch is excited to partner with another leading UK fintech in Checkout.com. It’s testament to the strength of the UK’s amazing fintech ecosystem and is another reason why I am proud to be a founding Co-Chair of the recently launched Unicorn Council for UK Fintech.” Guillaume Pousaz, Founder and CEO of Checkout.com, commented: “We are delighted to be working with Zilch, a category-leading fintech, to ensure that payments acquiring and processing is a business enabler and not a business distraction for Zilch as it successfully continues on its incredible growth journey. It’s an exciting moment to join forces in such a dynamic market where our technology is powering many of the world’s leading companies.” Find this helpful? [ 𝗿𝗲𝗽𝗼𝘀𝘁 ] Anything to add about this subject? [ 𝗶𝗻𝘃𝗶𝘁𝗲𝗱 𝘁𝗼 𝗰𝗼𝗺𝗺𝗲𝗻𝘁 ] Nice story, Marcel. Next! [ 𝗹𝗶𝗸𝗲 ] #payments #paytech #digitalpayments #paymentservices #fintech #financialtechnology #fintechindustry #fintechnews

💡The #UK dominated European #PayTech in 2023 with a 40% share of total deals According to FinTech Global, European PayTech companies faced a significant decline as companies raised a collective $1.5bn, representing a 81% drop from the previous year's investment figures in 2023. The overall deal activity in the European PayTech sector also witnessed a substantial downturn, with only 189 deals completed in 2023, marking a 45% decrease from the levels seen in 2022. Sumup, a point-of-sale technology provider, had the largest European PayTech deal during 2023, after raising $307m in their latest Venture round, led by Sixth Street. The funding will be used to broaden its global presence and enhance its array of financial products and services for its four million small business customers. The recent infusion of growth funding comes on the heels of SumUp securing a $100m credit facility from Victory Park Capital in August. This initial funding injection was intended to support the launch of a cash advance product aimed at merchants in the UK and Europe. The latest funding round comprises a blend of equity and debt, although SumUp has not disclosed the specific breakdown. Notably, the company's valuation remains at €8bn, as it was in June 2022. This financing round arrives following a year marked by significant progress for SumUp. The company has achieved positive EBITDA since the fourth quarter of 2022 and reported impressive year-over-year revenue growth exceeding 30%. The UK was the most active PayTech country in Europe during 2023 with 75 funding rounds, a 40% share of all deals. Germany was second with 19 transactions, a 10% share of total deals and France was third with 17 deals, a 9% share. By 2024, the total transaction value in European digital payments is expected to reach $2,194bn, with an anticipated annual growth rate (CAGR 2024-2028) of 8.81%. By 2028, the market is projected to have a total transaction value of $3,076 bn, reflecting the evolving landscape of digital payment adoption within Europe. Cross-border payments have come under the spotlight recently due to their critical role in global commerce. In the European Union, regulators have been driving the push for instant euro payments, aiming to streamline transactions and stimulate cross-border economic growth. This initiative aligns with the G20 Roadmap's global efforts to enhance cross-border payment systems and promote greater interoperability. The COVID-19 pandemic has accelerated the digitalization of payments, with over half of organizations worldwide reporting increased use of Automated Clearing Houses (ACH), digital wallets, Real-Time Payments (RTP), and virtual cards, displacing traditional methods like checks and cash. Both public and private payment systems and regulators are recognizing the efficiency and security benefits of these digital platforms, further fueling this transformative trend. #payments #financialservices #paymentsolutions Source: FinTech Global

Get ready to meet the visionary minds behind Hero Plus Group - the dynamic duo that has been relentlessly reshaping the payment industry so that you, our valued merchants, can be the “heroes” to your customers with innovative and flexible payment methods. Ronald Lam - Co-founder & CEO: As the Co-founder and CEO of Hero Plus Group, Ronald plays a pivotal role in driving our business forward. With a keen focus on the Southeast Asia region, including Thailand, Malaysia, Singapore, and Hong Kong, Ronald formulates and executes our business plan, ensuring sustainable growth and success. With industry expertise, he leads Hero Plus Group in providing social commerce and digital payment solutions, empowering merchants to enhance their businesses and achieve remarkable growth. Ronald’s visionary approach stems from his long-time desire and commitment to helping businesses of all sizes scale and gain level-playing fields- and it is exactly this passion of his that makes him the driving force behind our mission. Jason Ho - Co-founder & CTO: Meet Jason Ho, our Co-founder and CTO at Hero Plus Group. As one of the two digital payment pioneers of the duo, Jason spearheads the technological advancements of our services that propel us ahead in the payment industry. With his expertise in AI and strategic implementation, he leads our talented tech team to persistently revolutinise the way payments can be made and collected. With a shared ambition to make payments easy among the founders, Jason focuses on creating innovative, merchant-oriented, and user-friendly features that deliver significant benefits to our valued merchants. His efforts in leveraging technology ensure that we continue to provide cutting-edge solutions and exceptional experiences to our merchants. Together, Ronald and Jason drive Hero Plus growth and innovation. Their expertise, leadership, and commitment to empowering merchants make them an integral part of our team. More importantly, they are why the team believes that all businesses- no matter the industry and scale- should have the opportunity to grow and evolve with innovative solutions. #HeroPlus #fintech #Payments #SocialCommerce #AI #SoutheastAsia #founders

Navigating the Future of Fintech: PayToMe, Stripe Connect, and Qenta PayToMe's strategic alliance with Stripe Connect signifies a transformative era in fintech, emphasizing benefits for Global Travelers. By leveraging Stripe Connect's advanced payment solutions, PayToMe aims to enhance its platform's functionality, aligning with industry giants like Shopify and DoorDash. As PayToMe pioneers new pricing models and business strategies, it solidifies its role as a frontrunner in fintech innovation, offering secure transaction solutions worldwide. Qenta, with its commitment to excellence and advanced financial tools, stands poised to shape the future of digital payments alongside PayToMe and Stripe Connect, catering to the evolving needs of users worldwide. Source: Travel and Tour World #Fintech #GlobalPayments #Payments #GlobalCommerce #DigitalPayments

Exciting News: Flatpay Raises €45M in Series B Funding to Revolutionize Payment Solutions for Merchants Across Europe! 🚀💳 Flatpay, the pioneering Danish fintech firm, has recently concluded a monumental €45M Series B funding round led by Dawn Capital, Europe’s leading B2B software investor, alongside Seed Capital Denmark and other notable investors. This significant investment marks a major milestone for Flatpay as it accelerates its mission to simplify payment processes and financial management for merchants. Since its inception in 2022 by visionary entrepreneurs Sander Janca-Jensen, Rasmus Busk, Rasmus Hellmund Carlsen, and Peter Lüth, Flatpay has rapidly expanded its reach into key markets like Finland and Germany. Offering merchants unmatched service, transparent pricing, and intuitive solutions, Flatpay has quickly become a trusted partner for businesses seeking seamless payment solutions. 🚀🙌 With this fresh injection of capital, Flatpay is poised for exponential growth, with plans to solidify its position as the premier financial management platform for businesses across Europe. 🙌 👉 https://lnkd.in/dhsRvPYh #Fintech #Payments #Retail #Platform #Funding #Startup Ditte Gerner Dyhr Chris Crespo Stian Faber Carsten Christensen Damián Džamba

1POINT6, a Fintech Dedicated to Managing Payments for Marketplaces, Obtains Payment Agent Status and Signs Up Its First Customer “From the outset of this project, we have been convinced by 1POINT6's strong potential, and the dynamism the fintech is demonstrating just a few months after its launch confirms this. By teaming up with 321 - Corporate Startup Studio, we have created the conditions for rapid and efficient development. 1POINT6 has all the qualities needed to become a leading player in Europe in the field of e-commerce,” explains Neil Pein, BNP Paribas Group Sponsor of 1POINT6.   https://lnkd.in/e8Y97QJT Guillaume Massis Frédéric Minot #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews

𝐓𝐡𝐞 𝐔𝐧𝐛𝐮𝐧𝐝𝐥𝐢𝐧𝐠 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐢𝐧 𝐅𝐢𝐧𝐭𝐞𝐜𝐡 𝐂𝐨𝐧𝐭𝐢𝐧𝐮𝐞𝐬 𝐨𝐧 𝐚𝐥𝐥 F𝐫𝐨𝐧𝐭𝐬 𝐚𝐧𝐝 𝐆𝐥𝐨𝐛𝐚𝐥𝐥𝐲 The Fintech landscape is undergoing a new phase of unbundling, driven by increasing competition and maturation in key verticals like #Payments and #Wealthtech. But this unbundling looks different than the initial wave of Fintech disruption. In the first phase, Fintechs unbundled services from traditional banks, offering standalone solutions for payments, lending, investing, and more. Established Fintechs are now unbundling their offerings, selling API access to specific capabilities rather than requiring customers to use their full stack. Two recent examples illustrate this trend: 1.  Fidelity Investments's eMoney unit is beginning to sell API access to individual features of its financial planning software, allowing RIAs to private-label capabilities and craft their own planning experience. 2.  Stripe has decoupled its payments API from the rest of its platform, enabling customers to use its other tools (fraud detection, invoicing, etc.) without having to process payments through Stripe. We've seen a similar pattern in Asia.  Grab, the Southeast Asian super-app, has unbundled its fintech arm into a separate entity (GrabFin) and is now selling API access to its capabilities in payments, rewards, lending, and more to other businesses. This unbundling was not driven by regulatory pressure (like Ant Group`s unbundling). What's driving this new wave of unbundling? As fintech verticals mature and competition intensifies, companies need to differentiate. Selling best-in-class point solutions via API allows them to monetize their tech while giving customers more flexibility. For customers, the ability to pick and choose capabilities is powerful. They can create tailored solutions by combining top offerings, without getting locked into a single vendor's platform. Plaid and Adyen have been leading on this front with the Plaid Portal and the Modular Offering by Adyen. Expect to see more companies carving out their best features and selling them à la carte. 𝑰'𝒅 𝒍𝒐𝒗𝒆 𝒕𝒐 𝒉𝒆𝒂𝒓 𝒇𝒓𝒐𝒎 𝒚𝒐𝒖: - What other examples of fintech unbundling have you seen recently? - Which areas of fintech do you think are most ripe for this type of unbundling? 𝑫𝒓𝒐𝒑 𝒚𝒐𝒖𝒓 𝒕𝒉𝒐𝒖𝒈𝒉𝒕𝒔 𝒊𝒏 𝒕𝒉𝒆 𝒄𝒐𝒎𝒎𝒆𝒏𝒕𝒔 𝒃𝒆𝒍𝒐𝒘! Mediterranean a la carte 😉 #fintech #modular #API #unbundling #Saas #efiinsights

Tebi – From the Ex-CTO / Co-founder of Adyen – Raises €20 Million for Its Retail and Hospitality Operating System “Hospitality and retail businesses bring life and jobs to our communities – but when it comes to technology, they haven’t had a genuine partner who’s on their side and brings a holistic understanding of their needs,” says Arnout Schuijff. “They’re weary of being locked into multiple, overpriced contracts for under-performing bits of financial software. That’s why Tebi is replacing a multitude of point solutions with a single, comprehensive and intuitive platform that anyone can use.” https://lnkd.in/ekzTbUcq Index Ventures Jan Hammer Lewis Maconachy Ana Andreescu Rachel Hansen #fintech #finance #banking #paytech #payments #fintechnews #paymentsnews #funding