WHERE THE FINTECH IS GOING - ALL DEALS FROM THE BEGINNING OF 2020 SEPTEMBER 2020 - BEBEEZ
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September 2020 Where the fintech is going All deals from the beginning of 2020 EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 1
In these first eight and a half months of 2020, Italian and Italian founded or fintech startups and scaleups have already
cashed in rounds totalling over 135 million euros, after venture capital investments in the sector had been 261 million euros
in 2019 and about 200 million in 2018. The same startups and scaleups that closed rounds in 2020, in total since the start of
their activity, have collected more than 261 million euros from investors, compared to 401 million euros collected since the
start of activity by the startups and scaleups that announced rounds in 2019 and 276 million of those that announced rounds in
2018 (see here the BeBeez Fintech Report of April 2020). BeBeez Private Data calculates it (the BeBeez database available
on subscription, click here for information and for an upgrade of your BeBeez News Premium subscription).
The 135 million euros collected by fintechs between January and the first half of September
Throughout 2019, represent about one third of what was collected by all Italian startups or founded by Italians in the
Italian startups same period, i.e. 466 million in 183 rounds (see here the BeBeez Venture Capital Report on the
first 8 months of 2020).
and fintech scaleups
have announced In the calculation BeBeez considers Italian and international investors, structured as venture funds or
investment rounds for investment holding companies, but also corporate, business angels and crowd of equity
crowdfunding platforms crowd. And that's not all. In the startup and scaleup data BeBeez also
261 million euros, upconsiders venture debt and financing. Net of the latter, startups raised 410 million in the first eight
from 510 million months of the year.
in 2018.
Therefore, the data provided by various providers may not necessarily be comparable with BeBeez
data. For example, the figure provided by PwC in its latest Fintech 2020 report in Italy shows that
in 2019 it fell to 153.6 million euros, compared to 197.2 million in 2018 (-23%) (see other BeBeez
article).
Returning to the fintech sector alone, it should be pointed out that BeBeez also considers proptech to be fintech, for example, in
particular Casavo, a real estate instant buying platform, which alone in 2019 raised 82 million euros in equity and debt from
investors. And that this year it issued a 5 million euro minibond, bought entirely by Amundi sgr's private debt fund (see
BeBeez article).
EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT N° 09375120962 2It also includes in fintech investment platforms in alternative assets such as works of art, for example Fimart Italia, which is
currently conducting an equity crowdfunding campaign.
The 2020 figure includes two rounds of equivalent size, one of 45 million and the other of just
In 2020 fintech over £42 million (around €48 million). The first refers to the investment commitments raised by
startups Roberto Nicastro for Progetto Banca Idea, the digital bank dedicated to the provision of credit
and scaleups and transactional services for very small businesses, into which he has transformed his Pbi
investment vehicle. Among the investors there are: Assicurazioni Generali, Sella Group, the
of Italian origin Fürstenberg family (headed by Banca Ifis), the Isa institute in Trento, the family offices of the
have already Micheli, Lunelli, Albertini, Troiani, Confartigianato, business angels in the managerial, consulting
announced investment and hi-tech world (see other BeBeez article).
rounds for 135 million
The second important deal of 2020 is the one concerning Supply@Me Capital, a startup that
euros with two deals operates in the segment of the so-called inventory monetization, i.e. the valorisation of the
of over inventory of industrial companies, and that was listed on the main list of the London Stock
40 million euro Exchange on 23 March 2020, with a capitalization of £ 227.5 million, after having raised £ 42.1
million from investors (see other BeBeez article).
each
As for the sectors of particular interest for the funds, very hot, despite the crisis at Covid-19, the payments business remains.
It's no coincidence that one of the most important deals is the $13 million deal conducted by the renowned Lake Star venture
capital firm on Yapily, a London-based fintech startup with an Italian heart (see another BeBeez article). The round was also
funded by European venture capital funds HV Holtzbrinck Ventures and LocalGlobe, already investors. Yapily offers
service providers an easy way to retrieve financial data and make payments securely, by connecting directly to all open
banking APIs of retail banks, as required by the second EU directive on electronic payments (PSD2).
September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 3The Directive, as is well known, requires banks to allow third parties to access the accounts of their clients who have requested it in order to execute payment transactions or query account balances and movements via so-called APIs (Application Programming Interfaces), i.e. computer interfaces that allow the development of applications and services using data made available by the technological infrastructure of a third-party financial institution. The directive essentially enshrines the entry into the era of open banking and thus the possibility for companies and individuals to access new information and payment services in real time on their current accounts (see here another article by BeBeez). Since 14 September 2019, the PSD2 has been fully in force (see here the Beez Peak of 2 September) and since then more and more investors are interested in entering this sector. So much so that we are already beyond open banking and we are already talking about open finance, i.e. open innovation applied to the financial and insurance sectors, which also includes players other than banks and insurance companies, such as BigTech, startups, large retailers, utilities and car manufacturers (see here another BeBeez article). And on the subject of open finance, among other transactions this year, the investment by Poste Italiane on the Swedish Tink platform last January should be noted. Tink is one of Europe's leading open banking platforms allowing banks, fintech companies and startups to use the data to develop intelligent and personalized financial services. Scaleup grossed a €90 million round, led by UK venture capital company Dawn Capital, US-based HMI Capital and Insight Partners. The round was also funded by the foreign investors already present in the capital: Heartcore Capital, ABN AMRO Ventures and Opera Tech Ventures, the venture capital arm of Bnp Paribas (see other article by BeBeez). Also the Poste Italiane group, through PostePay, participated last June in the $35 million round of the US fintech Volante Technologies, which provides payment and financial messaging solutions on cloud and on-premise. The capital increase was led by Wavecrest Growth Partners and was also funded by BNY Mellon, Citi Ventures and Visa Inc, already strategic partners of fintech (see other BeBeez article). Finally, on the open banking front, last February the Swedish Klarna Bank, the largest European fintech and one of the main global players in payments, took over the Italian fintech startup Moneymour, which allows people to split their online purchases into small monthly instalments. Moneymour, acting as a technical service provider for banks, evaluates not on a traditional paper statement but on a digital one, enabling instant loans for online purchases. The sellers were Reale Mutua Assicurazioni and the Italian startup incubator listed on Aim Italia Digital Magics (see here another BeBeez article). September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 4
Notes: * USD (dollar-euro
exchange rate 1.10); **GBP; ***in
bold the new investors; in bold
and italic the previous investors
who participated in the last round.
Venture capital operations on Italian fintech companies (or founded by Italians) in 2020
(updated to 15 September)
Total
Last Last capital
Company round Type of activity Founders Investors*** round raised Article
date (mln euro) (mln
euro)
Inventory Club deal clients of Equita sim and Ceresio
monetization The Avantgarde Group sim, Parrot Capital (Global Capital Plc),
Supply@Me 23/03/20 platform spa other investors, London Stock Exchange 42,1** 44,1** BeBeez
360 Capital Partners, Banca Agricola
Popolare di Ragusa scarl, Banca Ifis, Banca
Sella Holding, Close to Media srl, Von
Furstenberg family, Generali
Assicurazioni, Istituto Atesino di Sviluppo
Banca Idea spa Online credit Federico Sforza, spa (ISA), Micheli e Associati, Sergio
project 30/06/20 activities Roberto Nicastro Bommarito, business angel, other investors 45,000 45 BeBeez
Systems for
facilitating access
for companies to Frank Strauss, Giovanni Daprà, H14 spa, Ott
bank client Kaukver, Roberto Nicastro, Taavet Hinrikus,
information for HV Holtzbrinck Ventures, Local Globe,
Yapily Ltd. 07/04/20 customers Stefano Vaccino Lakestar 13* 16,8 BeBeez
September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 5Total
Last Last capital
Company round Type of activity Founders Investors*** round raised Article
date (mln euro) (mln
euro)
Carlo Mancosu, Cdp Venture sgr, Fondazione Sardegna,
Gabriele and Giuseppe Primomiglio sgr, Innogest, Nice Group,
Commercial credit Littera, Franco Contu, Digital Investments, Innogest, Invitalia
Sardex 24/07/20 circuit Piero Sanna Ventures I, Banca Sella Holding, Melpart 5,800 8,5 BeBeez
Global financial shareholders of Selfiewealth (i.e. Edoardo
UCapital24 04/09/20 social network Ucapital Ltd, Aim Italia Narduzzi and other investors)*** 5,4 10,8 BeBeez
Amundi Progetto Italia (minibond
investor),360 Capital Partners, Boost Heroes,
Greenoaks Capital, Kervis Asset
Management, Marco Pescarmona, Picus
Real estate trading Capital, Project A Venture, Rancilio Cube,
Casavo 12/02/20 web platform Giorgio Tinacci other investors (including venture debt) 5,000 100 BeBeez
German innovative P102, ITALY500, Picus Capital, business
Habyt (formerly all-inclusive Luca Bovone and angel (including Florian Swoboda Jakob
Projects Co-Living) 23/07/20 housing solutions Giorgio Ciancaleoni Maehren) 3,500 6 BeBeez
Neva Finventures, Intesa Sanpaolo Vita,
Simone Ranucci Barcamper Venture, Banca di Piacenza, Be
Digital insurance Brandimarte, Gianluca Shaping the Future , CRIF, Miro Ventures,
Yolo 15/07/20 broker de Cobelli,Mansutti spa Mansutti, Net Insurance, Neva Finventures 3,000 10 BeBeez
Online platform
for the
management of
taxes for self- Enrico Mattiazzi, Fabio
Fiscozen srl 16/03/20 employed people Ciotoli, Vito Lomele UV2 (United Ventures sgr) 3,000 3 BeBeez
P2P lending to Pietro Casati and
12/02/20 Crowd of 200Crowd and private 2,2 6,6
Soisy private individuals Andrea Sandro BeBeez
Digital credit & Giorgio Valaguzza, Alessandro Fracassi,
risk scoring Marko Maras and Paolo Attilio Mazzili, Fernando Spallanzani,
Fido 31/07/20 platform using AI Mardegan Giacomo Sella, Italian Angels for Growth 1,100 1,1 BeBeez
September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 6Total
Last Last capital
Company round Type of activity Founders Investors*** round raised Article
date (mln euro) (mln
euro)
Matteo Carbone, Pietro Menghi, business
angel, Club deal coordinated by Mezzetti
Andrea Silvello, Dario Advisory Group, Gruppo Net Insurance
Neosurance srl 07/04/20 insurtech Melpignano spa, Luiss Alumni 4 Growth 1,100 2,1 BeBeez
in Ecosystem for Andrea Medri, Davide
Digital Rock Holding progress cryptocurrencies Barbieri Crowd of Opstart 0,850 0,850 BeBeez
Digital service to
save time and
money on Marco Tricarico, Redi
subscriptions and Vyshka and Francesco business angel, Cenciarini & Co,
Switcho 13/01/20 user management Laffi Smart&Start (grant) 0,580 >0,74 BeBeez
Antonella Grassigli,
Equity Marco Michelini,
crowdfunding Donato Montanari and
Doorway 18/05/20 platform Federica Lolli private investors 0,500 >0,5 BeBeez
Giuseppe Vegas,
Valeria Lazzaroli,
Guido Perboli, Beppe
Software for risk Di Sisto, Vittorio
Arisk 18/05/20 assessment Pizzorno Finpiemonte (grant) 0,350 >0,35 BeBeez
Digital payment
in and investment
iCashly progress services Rigsave spa Crowd of Crowdfundme 0,190 0,190 BeBeez
September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 7Total
Last Last capital
Company round Type of activity Founders Investors*** round raised Article
date (mln euro) (mln
euro)
Software that
allows you to
know your
creditworthiness
online and in a few Marco Librobuono,
PrestitoSuper 16/07/20 seconds Francesco D'Amelio Crowd of BackToWork 0,153 0,153 BeBeez
Crowdfunding real
estate lending
platform with
ItalyCrowd 13/06/20 blockchain Augusto Vecchi Crowd of Opstart 0,095 0,095 BeBeez
Licensee of the US
platform Fimart
(Financial
in Marketplace of Niccolò Filippo Veneri Crowdfun
Fimart Italy progress Art) Savoia Crowd of Opstart 0,093 0,093 dingBuzz
Porretiello and Stefano
Mistralpay 21/02/20 Payment institute Casu Tiscali nd nd BeBeez
Total 135,238 261,38
Source: BeBeez Private Data - https://privatedata.bebeez.it
September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 8Notes: * US dollars (dollar-euro
exchange rate 1.10); **new
investors in bold; previous
investors who participated in the
last round in bold and italics.
Venture capital operations on foreign fintech companies conducted by Italian investors in 2020
(updated to 15 September)
Total
Last capital
Last
Company round Type of activity Founders Investors raised Article
round
date (millions of
euros)
Dawn Capital, HMI Capital, Insight
Partners, Poste Italiane, Heartcore
Daniel Kjellén and Capital, ABN AMRO Ventures, Opera
Tink (Sweden) 23/01/20 Open banking platform Fredrik Hedberg Tech Ventures 90,000 182,6 BeBeez
Volante Cloud and on-premise Venkat Malla,
Technologies payment and financial Uday Thakur and PostePay, Wavecrest Growth Partners,
(USA) 07/08/20 messaging solutions Vijay Oddiraju BNY Mellon, Citi Ventures, Visa Inc 35,000 35 BeBeez
Asgeir Orn
Asgeirsson, Georg Groupe BPCE, Unicredit, Grupo
Digital banking Ludviksson and Crèdito Agrìcola, Velocity Capital,
Meniga (UK) 02/06/20 platform Viggo Asgeirsson Industrifonden & Frumtak Ventures 8,500 43,9 BeBeez
Source: BeBeez Private Data - https://privatedata.bebeez.it
M&a transactions carried out by foreign investors in 2020 on Italian start-up fintech or founded by Italians
September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 9Percentage
Company Data deal Type of activity Members Investors Sellers Article
acquired Price
Giacomo De Giacomo De Lorenzo,
Apps to allow people Lorenzo, Michele Michele Giannotta,
to split their online Giannotta, Reale Reale Mutua
purchases into small Mutua Assicurazioni, Assicurazioni, Digital
Moneymour 14/02/20 monthly instalments Digital Magics Klarna Bank Magics 100% nd BeBeez
Source: BeBeez Private Data - https://privatedata.bebeez.it
The data in this Report are extracted from
a powerful database containing information on the companies in the portfolio
to private equity, venture capital and private debt investors.
For information and subscriptions click here
https://bebeez.it/en/subscription-type
September 2020 - EdiBeez srl - head office Corso Venezia, 8 - 20121 Milan - registered office Corso Italia, 22 - 20122 Milan – VAT 09375120962 10You can also read
