Denys Dmytrov’s Post

Welcome to establish your #startup to #Finland, one of the most #startup-friendly country in #Europe. Now I want to tell you my second story and experience with another big #Finnish #bank, OP Corporate Bank / OP Yrityspankki! We established together with my partner Rahul Parmar in July 2024 a Fin-Tech startup in #Helsinki, the startup name is Nordic Financial Group Ltd. As you know, a #startup in order to operate need / must have a #bank #account, so we started to contact the major banks in Helsinki. This story is about the experience with OP Corporate Bank / OP Yrityspankki. I applied through their web site for the opening of the #company bank account, filling the form and attaching all the information asked regarding our startup, business plan, pitch deck, registration act etc. After a week I got a replay from OP Corporate Bank / OP Yrityspankki that they cannot open a bank account for our company, I asked more details on their decision but no replay! Then I connected on Linkedin with Mr. Timo Ritakallio, President and Group Chief Executive Officer at OP Financial Group, Mr. Otto Könkkölä, Director at OP Corporate Bank / OP Yrityspankki, Ms. Hannele Myllynen, Head of Customer Services at OP Corporate Bank / OP Yrityspankki and Ms. Katja Keitaanniemi, Executive Vice President at OP Financial Group. I sent to all of them a private message explaining them our situation and asking them if they could help us with this issue, guess what……no response. We were not asking money, because we have money, we just needed a bank account! So, this is how the #Finnish #banks support #Finnish #startups (yeah, but with a team of foreign people) 😭 😭 😭 I will update you in my next post, how append with the third bank! Stay tuned! #startup #finnishbanks #finnishstartupecosystem #bankaccount #establishastartup #businessfinland

#TechWeekInReview shows financing rounds at steady pace and emphasizes the power of corporate startup cooperation, allowing access to large clients database and possibilities to validate the business cases. ➡ Pago App secured 2.2 million euros in funding, which will be used to integrate its solution into banking platforms and for international expansion. The start-up offers a wide range of services, from bill payments to insurance purchases and mobile top-ups. Pago is already operating in Italy and Poland, and through integration with the George platform by BCR, it aims to expand into the Czech Republic, Slovakia, and Hungary. The startup estimates recurring annual revenues of 2.4-2.5 million euros by the end of 2024, a 40% growth compared to 2023.Pago's growth strategy focuses on integrating its services into other apps, including BT Pay and George, with revenue sharing models in place with partners. Pago recently launched its app in Italy and has long-term plans for expansion, including a potential stock market listing in the future. ➡️QuickLegal received €368,000 in funding through European grants to further develop its product and prepare for scaling to other markets. Initially, QuickLegal started as a marketplace for personalized legal solutions but has since pivoted to developing an automated debt recovery solution.The solution automates the entire debt collection process, from payment notifications to court filings if necessary. QuickLegal's automated system helps companies manage overdue invoices, sending personalized reminders and escalating to legal action if needed. If cases become complex, companies can also collaborate online with specialized lawyers. QuickLegal plans to strengthen its presence in Romania over the next six months, using market feedback to refine its product and prepare for further investment. ➡️#TechAngels presented the first step in the process of reaching the bold goal of #10unicornsin10years. https://lnkd.in/dVXiiMY8 More to come. ➡️ANIS Romania launched an industry Manifesto, Digital Romania 2030, outlining a path towards a leadership position for the local tech industry in a competitive and modern economy. https://anis.ro/resurse/ #growingtogether #growsmart #smartgrowth #angelinvestors #startups #techecosystem

With a tech ecosystem worth €93B Spain 🌞 🇪🇸 is definitely on the rise. The 2023 Startup Law is a game-changer, offering amazing benefits for startups and investors. Cities like #Madrid, #Barcelona and #Valencia are heartbeats of innovation! If you’re into fintech (or if you are just curious about it!) you have to read why #Spain is the place to be for #fintech. Elliott Locke, ACSI Tenity alumni, lets you know. Check it out here 👉 https://lnkd.in/d6fW9rXE #TechEcosystem #Fintech #Spain #Innovation #FintechAdoption #InvestmentOpportunities #BusinessGrowth #Startups #FutureOfFintech

Two young entrepreneurs - Kartikeya Dwivedi and Vihan Bawa - take on the Australian domestic payments scene via Kuber Financial #australianfintech #fintech #fintechnews #finance #financialtechnology #entrepreneurs #digitalpayments #domesticpayments #startups #startupnews #australianstartups

We know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up so you can get the latest funding news. Read more 👇 http://spr.ly/6040UkLlO #ICYMI #StartUp

Europe's fintech scene is heating up! 🔥 Nine innovative payment startups are poised to disrupt the industry. European fintech raised about $4.2 billion in the first half of 2023, with payments alone contributing $618 million! Yeah!!!, it's a slight dip compared to last year, but funding rounds like these deserve a slow clap! Let's shine some light on the next-gen payment startups that could soon become household names. 1. Payable — UK Payable helps the companies get paid faster and keeps finance operations in check. It is a perfect fit for businesses today that need to have cash flow under their control but are also flexible. That is exactly what Payable gives them, Just like that. 2. Simpler — UK Read about them at https://lnkd.in/gNibURnN #finance #news #startup #fintech #europe #rojpe #invest #payment

Tallinn-based Mifundo secures €10 million to create a platform for portable credit profiles: Estonian-based Mifundo, secured €10 million in funding to create a platform for portable credit profiles across the European Union. This funding is made up of a previously undisclosed €1.2 million pre-seed round from local investors, €2.5 million in grant funding, and €6.3 million in matched funding from the European Innovation Council (EIC) Accelerator program, backed […] The post Tallinn-based Mifundo secures €10 million to create a platform for portable credit profiles appeared first on EU-Startups. #startupnews #startups #technews

#Lithuanian fintech kevin., which provides payment solutions to businesses, has been declared bankrupt by the Vilnius Regional Court. Five plaintiffs, including AV Holding doo, Lithuanian AWS partner Cloudvisor and a solution integrator TeraSky Baltic, filed for bankruptcy proceedings against Kevin. After reviewing the evidence, the court concluded that the Lithuanian startup is currently insolvent and unable to meet its financial obligations on time. The #Vilnius Regional Court appointed IS Group as the insolvency administrator. Founded in Vilnius in 2018 by Tadas Tamošiūnas and Pavel Sokolovas, Kevin provides solutions for businesses to make account-to-account payments. The company's technology focuses on developing traditional cards, payments by link, point-of-sale (POS), direct debit, and online payments. Kevin provides payment services, including payment initiation. When a customer wants to pay for a purchase on a merchant's website, the startup's solution redirects him to his online bank via the startup's solution to complete the payment. The Lithuanian fintech operates in Vilnius, Warsaw, London, Berlin, Amsterdam, and Dubai. In 2022, Kevin raised €65M in Series A from the US-based VC Accel with participation from Paris-based investment group Eurazeo. One of the Baltic startup investors is the Estonian accelerator and fund Startup Wise Guys. All about Baltic startups and VC https://www.balticvc.com/ #Lithuania #tech #technology #technologies #TechnologyNews #TechNews #startup #startups #VentureCapital #VC #fintech #bankrupt

#Tallinn-based fintech Paywerk has been acquired by #Swedish banking group Swedbank Estonia, which will integrate Paywerk's technology into its infrastructure. Details of the deal have not been disclosed. After the deal is complete, the startup's executives (Jan Andresoo, Priit Poldoja, Raino Parona, and Marko Varika) will no longer work at Paywerk's management and supervisory boards. The #deal marks an exit for Estonian Inbank Ventures, a subsidiary structure of Inbank AS, which sold its stake to Swedbank. Also, it is an exit for former Estonian government #CIO Taavi Kotka, a business angel from Estonia Sergei Anikin, and founder of Estonian Superangel VC Rain Rannu. Founded in 2021 by Jan Andresoo, Priit Poldoja, Erkki Saarniit, Jaak Erm, and Rain Pikand. Paywerk has developed a platform that connects European online stores with multiple payment solutions to make transactions faster and more secure for customers. Paywerk allows shoppers to pay for their purchases immediately, after 30 days, or by splitting the payment into three, six, or 12 parts. This service is called #BNPL (Buy Now, Pay Later). For merchants, if the shopper pays after 30 days or splits the payment into several parts, Paywerk transfers the full payment to the online store after it has fulfilled the order. Based in Tallinn and founded in 2010 by Jan Andresoo and Priit Poldoja, Inbank is a publicly traded fintech company with an EU banking license that connects merchants, consumers, and financial institutions on its integrated financial platform. Inbank works with more than 6,100 merchants and has concluded more than 850K contracts with buyers. In 2020, Inbank launched several new products, including the Pay Later solution Invy. In 2021, it attracted great interest from merchants in Lithuania and Estonia, and in April 2021, the founders of Inbank decided to launch a separate fintech company Paywerk, based on the Pay Later solution. Later in 2021, Inbank Ventures acquired a 30% stake in the fintech. All about Baltic startups and VC https://www.balticvc.com/ #Estonia #startup #startups #tech #technology #technologies #TechnologyNews #TechNews #Deal #Deals #VentureCapital #VC #fintech #exit #mergersandacquisitions

Downtime can be a business killer, especially when it comes to payments. That’s why we created Asyncpay - to ensure your transactions are always processed smoothly, even when your primary payment gateway goes down. Let us handle the heavy lifting so you can focus on growing your business. Try Asyncpay today! Check out www.asyncpay.io #tech #startup #business #payments #paymentsolutions