The Most Important Fintech News from November

It’s never boring in the fintech world. Companies are founded, investments are made, and new products are brought to market. It’s sometimes difficult to keep track of everything. Here’s the overview for November 2024.

Klarna goes public

The Swedish BNPL company has submitted the documents necessary for an IPO to the US Securities and Exchange Commission (SEC).

Years of speculation are now over; an IPO could soon be imminent. But not all of the details have been clarified yet. We have written down what we know and what we don’t know for you here .

Fiontech company Solaris is on the brink

It hasn’t even been a year since the last round of financing, and Solaris already needs money again. As Finance Forward and others reported, the start-up needs 100 to 150 million euros quickly.

If the money cannot be raised, a sale is likely to be on the cards. The current deadline is December 2nd, when the decision is to be made at an extraordinary general meeting.

N26 presents positive figures

After the lifting of growth restrictions, things are going well at Germany’s best-known neobank. There were recently 200,000 new registrations per month.

The company is also slowly but surely creeping towards the profitability threshold. June 2024 was the first month with a profit for N26, and the bottom line for the third quarter was an adjusted operating result of 2.8 million euros. However, this will not be enough for a plus for the full year. You can find a comprehensive analysis of the business figures here .

Trade Republic introduces checking account

The neobroker now wants to gradually set up an account for its customers with which they can also pay bills or receive their salary, reports Handelsblatt.

Existing customers will be able to use the account first, then new customers. For Trade Republic, it is an essential building block in its attempt to gain market share from neobanks such as Revolut and N26.

Wero launches its own wallet app and announces figures

The European PayPal competitor is now offering a small number of its customers a wallet app , which is available on both Google Play and the Apple App Store. Initially, only customers of Postbank and the French La Banque Postale can use it.

The European Payments Initiative project also announced figures for the first time in November. According to this, more than 14 million people have already registered for Wero, most of them in France. In Germany, savings banks and cooperative banks have convinced almost 600,000 customers of Wero.

Unzer gets rid of Bafin special representative

The payment service provider is getting rid of the special auditor appointed by the financial regulator after two years. At the same time, the subsidiary Unzer E-Com is also allowed to accept new customers again.

The trigger for the requirements were deficiencies in corporate governance and the control mechanisms for money laundering and compliance. The company has now made improvements in these areas. Unzer also announced that it expects higher sales and profits for 2024 than in 2023.

Former Commerzbank manager joins Unzer

And Unzer again: The payment fintech start-up has appointed three industry experts to its advisory board.

They include Marcus Chromik, the former Chief Risk Officer of Commerzbank. Jon Wrennall and Jürg Weber will also be supporting the fintech in the future.

Bunq is expanding

The Dutch fintech Bunq now also offers stock trading for its customers in cooperation with the German fintech companies Gimmon and Upvest and is now expanding into four more countries, reports FinanceFWD .

Fintech company Ride probably cost 630,000 euros

First insolvency proceedings, then the takeover by a new owner. There has been a lot going on at the fintech bank Ride recently. As FinanceFWD now reports, its purchase cost 630,000 euros, a fraction of the eight million euros that have been invested in the start-up so far.

Private individuals can invest in Tomorrow again

Starting today, private investors can once again invest in the sustainability-focused neobank via crowdfunding, Tomorrow announced. Amounts between 100 and 25,000 euros can be invested.

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(Featured image by AbsolutVision via Unsplash)

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