Corporate credit card start-up Moss raises €21 million in Series A
Moss wants to change the way companies track expenses.
Germany
ECB hires Claudia Plattner as new IT director
Plattner is CIO for Deutsche Bahn’s IT provider.
Fintech funding deals globally 4-10 January 2021
Featuring Grab, Mynt, Divvy, Mambu, and SimpleNexus.
Solarisbank migrates entire infrastructure to AWS cloud
German BaaS provider claims to be first of its kind to make such a move.
Finleap invests in German app aggregating student finance products
German tuition is largely free, making aid for living costs scarce.
Santander to pay €100m for Wirecard’s core European business
The deal means the bank can expand its payment solution across Europe, says Santander’s CEO.
US holding firm Syncapay buys Wirecard’s North America business
Wirecard put the market value of its North American business at €824m.
Major Indian IT firm TCS in talks to buy Deutsche’s Postbank tech unit
Postbank Systems provides IT services to Postbank, which Deutsche bought back in 2010.
Wirecard operations cease in Singapore, MAS slaps down more charges
Wirecard SG needs to return all customer funds within the next two weeks.
N26 snaps up ex-Dropbox exec Adrienne Gormley as new COO
New COO Gormley will head up N26’s global customer service.
German fintech lender Monedo files for bankruptcy
Founded in 2012, Monedo was called Kreditech until earlier this year.
Deutsche and Innopay talk open banking beyond PSD2
FinTech Futures sits down with Deutsche Bank and API consultancy Innopay.
Wirecard’s UK subsidiary WCS confirms Railsbank deal
Update 10/09/2020: An asset purchase agreement with Railsbank subsidiary PayrNet Limited has been signed.
Crealogix signs customer portal deal with German development banks
Due to go live in 2021 with support through to 2031.
Trade Republic launches share savings plan to rival incumbents
It claims to be the first to bring consumers the service for free.
Wirecard sells communication services arm to German start-up IDnow
IDnow will keep the majority of the arm’s 150 employees.
Credit marketplace Auxmoney picks up €150m in new funding round
Existing investor Centerbridge now owns the majority of Auxmoney’s equity.
N26 “nearly” hits half a million US customer mark
“Over the past 12 months, we have learned a lot about our US customer base.”
Wirecard lets 730 employees go, more than half its workforce
The Munich court opened insolvency proceedings on 25 August.
London to maintain grip on EU clearing post Brexit
COVID-19 thwarts Frankfurt’s plans to grab clearing business from Britain.
N26 loses chief product officer Georgina Smallwood
Smallwood departs N26 to join a Berlin scooter firm.
BaFin employees increasingly traded Wirecard shares
2.4% of all reported private financial transactions by its staff were transactions with Wirecard in H1.
Commerzbank closes 200 branches
Commerzbank’s group profit fell by a fifth to €220 million in the second quarter.
Holvi becomes next UK casualty, exits just six months after launch
The Finnish start-up says its departure is down to both COVID-19 and Brexit.
Oracle wins Flexcube deal in Germany
Paymentworld and Heartland Bank pick up Oracle’s flagship system.
N26 founders get injunction against employees’ works council
A German union is still trying to push on with the meetings.
Women need to be empowered not preferred, says Modularbank CEO
“They looked at me, as if to say: ‘what is this girl doing here?'” says Vene.
N26 outed for 2019 data breach, employees ask for works council
Around 300 of N26’s 1,500 employees should have access to unencrypted data.
Automated accounting firm Candis raises €12m in Series B funding
Candis plans to use its new funds to expand within Europe.
EPA critiques FCA approach to Wirecard suspension
The EPA says the FCA should have reached out to it.
Deutsche Bank buys minority stake in Traxpay
Deutsche wants more European banks to invest in the platform.
BaFin gets “sovereign powers” after Wirecard scandal
The plan will also strengthen APAS, the body that oversees auditing firms in Germany.
Degussa Bank up for sale with 2021 deal expected
Frankfurt-based bank could worth up to €400 million.
Investment service Scalable Capital lands $58m in Series D
The start-up says it has more than $2 billion under management on its platform.
ApoBank contracts auditors over ongoing IT transformation issues
Customers of the German bank have had issues connecting to their accounts since June
Former Wirecard CEO Markus Braun arrested again
Jan Marsalek, the former COO, is wanted under an international arrest warrant.
Deutsche Bank snags Wirecard exec Kilian Thalhammer
Thalhammer will be joining Deutsche Bank in October to oversee its Merchant Solutions arm.
Banca Ifis breaks into Germany with Raisin partnership
Raisin to power cross-border finance for Italian firm.
Commerzbank plans 10,000 job cuts as CEO and chairman step down
Shareholder pressure saw Martin Zielke and Stefan Schmittmann depart earlier this week.
German business banking start-up Penta tops up Series B by €4m
The financing round adds to the fintech’s Series B in March.
