Nexo app smartphone
EMEA: Nexo, Mastercard, DiPocket Debut credit card

In today’s top Europe, Middle East and Africa (EMEA) news, Nexo is launching a cryptocurrency Mastercard, while Umba closes a $15 million Series A fundraising round. dollars. Additionally, French B2B payments company Libeo launches in the UK, crypto wallet startup Dfns raises $13.5 million and Microsoft Corp. faces allegations of undermining its competition and limiting consumer cloud computing.

Nexo, Mastercard, DiPocket launch card backed by crypto line of credit

Nexo, a Swiss platform that provides instant cryptocurrency-backed loans, has launched a cryptocurrency Mastercard in select European markets. Nexo Card has partnered with Mastercard and DiPocket, a London-based e-wallet, giving customers access to crypto-powered liquidity on over 92 million e-commerce sites globally. The card allows users to spend without selling their digital assets.

African digital bank Umba gets $15m for accessible banking

African digital bank Umba has closed a $15m Series A funding round that will help the platform continue to grow in existing African markets and allow it to expand into new markets, with a view to meeting the needs of consumers. underserved customers. Umba has raised a total of $17.5 million to date, including its late 2020 funding round, and has doubled its revenue every three months while growing its team across four locations. The new funding will allow Umba to expand its operations and product offerings, as well as expand into new markets.

French B2B payments company Libeo enters the UK market

After years of operating in France and continental Europe, B2B payment company Libeo has launched in the UK. The move marks a transition to “a more mature market in digital transformation”, under new managing director for UK and Northern Europe, Glen Foster. Libeo’s offerings include Accounts Payable (AP) and Accounts Receivable (AR) capabilities, and allow users to make payments on all major payment rails.

Dfns secures $13.5 million to bolster crypto wallet security

Dfns, a crypto wallet startup, has raised $13.5 million in seed funding to expand its services that help secure the digital assets of FinTech companies and banks by protecting cryptocurrency passwords. The French startup splits the password to a digital wallet, known as a private key, so it no longer exists in the same place. The funding was led by White Star Capital with participation from Hashed, Susquehanna and the venture capital arms of crypto exchange Coinbase and Dutch bank ABN AMRO.

Antitrust complaints in Italy, Denmark

Italian cloud provider Aruba SpA and several Denmark-based cloud providers have filed a lawsuit against Microsoft Corp. to the European Union’s antitrust watchdog, accusing Microsoft of undermining its competition and limiting consumers’ choice of cloud computing services. France’s OVH was the only one of three cloud providers named when the consortium filed the complaint last year.

Deliveroo earnings show profits will continue to elude delivery aggregators after pandemic surge

For Deliveroo, profitability often comes at the expense of growth. The UK-based food delivery company, where it makes more than half of its sales, said in its first-quarter earnings report this week that “consumer behavior may moderate over the year”.

LVMH achieves double-digit growth in most groups and regions

LVMH Moët Hennessy Louis Vuitton recorded a 29% increase in sales in the first quarter of 2022, reaching 18 billion euros (about 19.5 billion dollars) for the first three months of the year. The Fashion and Leather Goods business group paved the way for LVMH with 30% organic revenue growth in Q1, followed by Selective Retailing at 24%, Watches and Jewelry at 19%, Perfumes and Cosmetics at 17% and Wines and Spirits at 2%.

Pilot EU scheme for trading tokenized securities benefits from regulatory tailwinds

The European Parliament (EP), the European Securities and Markets Authority (ESMA) and the industry support EU efforts to create a pilot scheme for financial market infrastructures based on distributed ledger technology (DLT). This pilot scheme aims to develop the trading and settlement of tokenized securities. It will also create a testing ground for the use of blockchain technology in the field of financial instruments for three years, which can be extended for another three years.

Flexible payments platform Wagestream raises $175M in Series C round

Wagestream, a flexible compensation and financial wellness app, closed a Series C funding round for $175 million. It comes as the company prepares to expand for undeserved and financially stressed workers in the United States. The capital will primarily be used to expand Wagestream’s presence in the United States, which is the fastest growing market for the company. Frontline workers have often been excluded from financial services or forced to pay more, unlike those earning a fixed salary or higher salaries.

——————————

NEW PYMNTS DATA: THE FUTURE OF BUSINESS SUPPLIER INNOVATION STUDY – APRIL 2022

Plastiq - The Future Of Business Payables Innovation: How New B2B Payment Options Can Transform The SMB Back Office - April 2022 - Find out how all-in-one payment solutions can help businesses streamline B2B transactions and eliminate transaction friction. AP and AR management

On: While more than half of SMBs believe an all-in-one payment platform can save them time and improve cash flow visibility, 56% believe the solution could be difficult to integrate with AP systems and existing ARs. The Future Of Business Payables innovation report, a collaboration between PYMNTS and Plastiq, surveyed 500 SMBs with revenues between $500,000 and $100 million to explore how all-in-one solutions can exceed customer expectations. SMEs and help sustain their activities.

LEAVE A REPLY

Please enter your comment!
Please enter your name here