In recent European fintech funding news, five companies, namely Aria, AbbeyCross, Salv, Paynest, and OneBanx, have obtained significant financial backing.
- Aria, a Paris-based fintech that assists companies in upgrading their payments infrastructure, raised €15 million ($17 million) in a funding round spearheaded by 13books Capital. The funds will aid Aria in extending its deferred payments setup to the platform economy and B2B marketplaces.
- AbbeyCross, a London-based wholesale FX platform focusing on emerging market currencies, secured $6.5 million in seed funding. Founded in 2021, AbbeyCross aims to fix market inefficiencies and plans to utilize the funds to enhance its ABX Sync platform.
- Salv, an Estonian company providing tools to combat financial crime, has raised €3.9 million ($4.4 million), taking its total funding to around €12.1 million ($13.6 million). The investment will be used for Salv’s expansion in the UK, where Authorised Push Payment (APP) fraud has seen a sharp rise.
- Paynest, a Portuguese startup that helps companies provide their employees with financial well-being benefits, raised €2 million in a seed funding round led by Lince Capital. The company intends to use the funds to develop its product further, hire more staff, and expand across Europe.
- OneBanx, a UK-based provider of shared banking solutions, has seen additional shares purchased by Glory, a cash technology solutions provider. Glory now holds 91.99% of OneBanx’s shares. This investment is expected to enhance OneBanx’s capacity to offer customers access to cash services.
