This week’s version of Finovate World opinions latest fintech information from the Netherlands.
Dutch insurtech RISK acquires Amsterdam-based fintech Dyme
Dutch insurtech RISK has acquired Amsterdam-based financial savings app Dyme. Phrases of the transaction weren’t disclosed. The deal will allow Dyme to spice up its presence within the Netherlands in addition to enter the German market. Courtesy of the settlement, each Dyme’s model and administration staff will stay intact.
“From being featured on Dragon’s Den to changing into one of many largest finance apps in Europe and reaching profitability, our mission has at all times been the identical: serving to folks take management of their cash,” Dyme famous on its LinkedIn Web page. “This step opens up some nice alternatives for Dyme and its prospects: broaden the product, particularly with nice insurance coverage packages and repair, attain tens of millions extra folks by way of the RISK ecosystem, and take Dyme worldwide, starting with Germany.”
Dyme at present has greater than 600,000 shoppers who’ve linked their financial institution accounts to the Dyme platform. The corporate’s app serves as a private monetary assistant to assist customers decrease prices, and makes use of sensible algorithms to automate subscription cancellations and supply monetary steering. Dyme introduced its first worthwhile quarter in 2024, and has mentioned that it has helped customers save greater than €40 million since inception. The acquisition will mix RISK’s market experience and technological platforms with Dyme’s user-friendly monetary options that allow customers to simply handle their bills, budgets, and extra.
RISK provides a sophisticated IT platform, SureBase, that assists monetary advisors, on-line labels, and insurers in product comparability and distribution. SureBase, in accordance with RISK CEO Hurt Vollmuller, will serve a key base for the brand new synergy between RISK and Dyme. “By combining that with our platforms and market information, we will attain folks at a time when monetary breaking house is extra necessary than ever,” Vollmuller mentioned.
Factris raises €100m to energy SME financing
A brand new funding partnership with Model New Day Financial institution will allow Factris to broaden its means to supply monetary help to small and medium-sized enterprises (SMEs). The Dutch fintech has secured a €100 million facility to help financing SME factoring throughout Europe. This can allow Factris to finance sellers in 9 nations and handle receivables from debtors in 27 nations.
“This new facility is a testomony to the belief and confidence Model New Day Financial institution has positioned in Factris and our imaginative and prescient for SME financing,” Factris CEO Brian Reaves mentioned. “As we proceed to scale throughout Europe, this partnership ensures we will meet the rising demand for different financing and supply SMEs with the liquidity they should thrive.”
Based in 2017 and headquartered in Amsterdam, North Holland, Factris focuses on bill factoring for small and medium-sized enterprises. The corporate provides selective factoring to allow corporations to resolve which particular invoices to issue, fund availability inside 24 hours of bill submission, credit score insurance coverage to guard towards buyer non-payment or chapter, and debtor administration for collections and account receivables.
Model New Day Financial institution is a Netherlands-based digital-first, challenger financial institution and fintech that started working in 2010. The monetary establishment serves each people and small-to-medium sized companies with financial savings accounts, funding and pension merchandise, tax-advantaged financial savings and funding options, and annuity fee companies. Model New Day Financial institution has greater than €8 billion in property.
Dutch fintech Plumery unveils Canada-based options
Digital banking expertise platform Plumery introduced a collection of recent options and integrations designed particularly for credit score unions in Canada. These new capabilities will give these establishments the flexibility to supply personalised, compliant, and trendy digital banking experiences for his or her members.
The Amsterdam-based fintech leveraged a collaboration with Aequilibrium, a digital companies and expertise consultancy headquartered in Vancouver, British Columbia, to verify its Canadian-ready platform is constructed based mostly on the way in which that Canadian credit score union members want to financial institution. This consists of not simply hyper-personalized, mobile-first, and intuitive digital journeys, but in addition help for on a regular basis funds and transfers together with billpay and Work together e-Transfers, and Canadian financial savings and lending merchandise like GICs.
Plumery’s transfer comes as Canadian banks and credit score unions face a variety of challenges together with evolving buyer expectations, fintech competitors, and the strain to modernize their legacy techniques. Extra instantly, Canadian credit score unions are scrambling within the wake of Central 1 Credit score Union’s announcement that it’s going to wind down its digital banking platform Forge (previously MemberDirect). Greater than 170 credit score unions throughout Canada had been counting on the expertise.
“With Forge winding down, Canadian establishments have a uncommon alternative to modernize on their very own phrases, somewhat than being tied to outdated techniques,” Plumery CEO and Founder Ben Goldin mentioned. “Our platform gives a direct, future-ready possibility that places management again within the arms of credit score unions. By working with Aequilibrium, we’re combining world banking innovation with native experience to ship experiences that meet the distinctive wants of Canadian credit score unions’ members.”
Based in 2016, Plumery allows monetary establishments to supply distinctive cell and on-line experiences on high of both their trendy or legacy core banking platforms as much as 80% quicker. Plumery’s expertise options foundations which might be pre-integrated into its digital banking journeys that speed up app improvement and shorten time-to-market whereas sustaining full management over each design and performance.
Try my interview with Plumery’s Goldin from earlier this yr.
Right here is our take a look at fintech innovation world wide.
Sub-Saharan Africa
Mastercard teamed up with African fintech Smile ID to introduce new digital identification options throughout the continent.
South African cell fee platform Avenue Pockets partnered with Plush Automobile Wash to ship safe, cashless funds.
Visa and digital funds community Onafriq launched Visa Pay within the Democratic Republic of Congo.
Central and Jap Europe
Lithuania-based identification verification and fraud prevention firm iDenfy launched its Legal Background Verify instrument.
Hungarian fee service supplier Barion Fee accomplished its acquisition of PSC CEE Ltd, the corporate behind the SmartKassa model.
Turkey’s Türk Ekonomi Bankası (TEB) partnered with Provenir for its AI-powered decisioning platform.
Center East and Northern Africa
Central and Southern Asia
India’s Financial institution of Baroda launched its eRUPI Particular person-to-Particular person (P2P) gifting answer.
TBC Uzbekistan prolonged monetary companies to non-residents.
Indian fintech Kiwi unveiled its interest-backed EMI on UPI.
Latin America and the Caribbean
Brazilian digital banking big Nubank has utilized for a US nationwide financial institution constitution.
Unlimit introduced securing Principal Membership with Mastercard and Visa in Peru.
Brazi-based proptech Lastro raised $15 million in Collection A funding in a spherical led by Prosus Ventures.
Asia-Pacific
Cambodian MSME-focused financial institution Chief Financial institution teamed up with fee options supplier BPC to launch its new Chief Cell 3.0 cell app.
The Folks’s Financial institution of China opened a digital yuan operation middle in Shanghai.
The Hong Kong Financial Authority (HKMA) and the Hong Kong Science and Know-how Parks Company (HKSTP) launched IADS Developer Hackathon to advertise bank-fintech collaboration.
Picture by Javier M. on Unsplash
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