Nordic Fintech Highlights – October
Before we dig into the monthly industry insights, we have two important dates for your calendar.
Slush – Helsinki Fintech Loop 30.11.2023
Slush takes over Helsinki at the end of November, which of course means it’s also time for our legendary after party. Be sure you apply to the Helsinki Fintech Loop as a participant – or, if you wish to guarantee your place at the best Slush party, as a partner!
Nordic Fintech Summit 16.5.2024
Our next year’s flagship event has been launched! The new and improved Nordic Fintech Summit will take place on May 16th, so save the date and check out our Lead Keynote speakers.
October in brief
As we’ve now firmly entered Q4, it’s time to reflect on the exciting industry news that unfolded in October. You can also check our monthly podcast with Fintech Daydreaming where we dig into some of the most interesting news from October.
Like September, October had 6 funding rounds. Climate/Impact fintech companies stood out, as Klimate from Denmark and Cloover from Sweden raised multi-million early-stage rounds.
The biggest funding round of the month was Brite Payments’ $60M series A. The instant payment provider, founded in 2019, is already active in 25 markets and is connected to 3800 banks.
In conclusion, the fintech market has seen better times, but monthly funding rounds from pre-seed to series A show that the industry is alive and kicking.
On the payments side, the biometrics companies Zwipe and IDEX Biometrics were very active. Zwipe signed two new deals, and IDEX Biometrics signed one in addition to securing Mastercard certification.
The BNPL industry is also on the move as Klarna strengthened its AI capabilities with Rokt, and the Swedish sell-first-pay-later company Treyd got a new customer from Stroodles.
Nordic banks were generally releasing strong Q3 results.
Impact is trending in banks as well – Danske Bank started assessing its lending and investment portfolios that potentially negatively impact nature and biodiversity.
On the tech side, Aktia Bank partnered with Temenos to modernize their payments, and Ikano Bank partnered with cloud platform Qlik as part of its digital transformation strategy.
Also, two new challenger banks started operating when Qred activated their banking license, and Saldo Bank passported their banking license to Finland.
Have a look at the news from October below and stay tuned for more!
You can find all the monthly Nordic Fintech updates from the past over here.
Country specific news
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