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UK Firms Capture One-Third of Top 10 European FinTech Deals Amidst 26% Funding Decline in Q1
In Q1 2025, European FinTech funding fell by 26% year-over-year, totaling $5.4 billion across 185 deals, alongside a 59% drop in deal volume from the previous year. This decline reflects reduced investor appetite and macroeconomic challenges. The UK remains a key market, securing three of the top ten deals, while Germany and Switzerland also saw significant activity. Notably, Solaris, a German BaaS provider, raised $145 million, aiding its restructuring and market expansion efforts. Despite challenges, emerging markets are gaining traction, indicating potential growth opportunities in the evolving FinTech landscape.
Business Banking Startup Slash Secures $41M in Series B Funding, Achieving $370M Valuation
San Francisco-based banking startup Slash has raised $41 million in Series B funding, boosting its valuation to $370 million. The round was led by Goodwater Capital, with participation from existing investors like NEA, Menlo Ventures, and Y Combinator. Slash, founded by CEO Victor Cardenas Codriansky and CTO Kevin Bai, offers business banking services for online entrepreneurs, including checking accounts, automated accounting tools, and payment options. Initially targeting resellers, Slash now serves various industries, including cryptocurrency and marketing. The new funding will enhance its platform and expand its team, with a focus on developing internal analytics.
Achieve SOC 2 Type II Compliance with ChainThat: Elevating Your Data Protection Strategy
ChainThat has announced that its Beyond Policy Administration (BPA) platform has achieved SOC 2 Type II compliance, highlighting its commitment to secure and reliable services. This compliance, established by the AICPA, evaluates an organization’s ability to manage customer data based on five trust principles: security, availability, processing integrity, confidentiality, and privacy. Achieving Type II compliance indicates that ChainThat has maintained adherence to these principles over an extended period. This milestone reassures clients of the company’s robust data protection measures and commitment to continuous improvement, enhancing customer confidence and positioning ChainThat as an industry leader in data security.
OakNorth Boosts US Expansion Strategy with Strategic Acquisition of Community Unity Bank
OakNorth, a digital commercial bank focused on entrepreneurs, has announced its acquisition of Community Unity Bank (CUB) in Michigan, pending regulatory approval. This stock-for-stock transaction aims to expand OakNorth’s business lending operations in the U.S., particularly following their recent authorization to establish a Representative Office in New York. Founded in 2015, OakNorth specializes in providing financial solutions to lower mid-market businesses, having facilitated around $16 billion in loans and creating over 56,000 jobs. CUB, established in 2023, targets small business banking in Southeast Michigan. Post-acquisition, CUB’s CEO, Greg Wernette, will lead OakNorth’s U.S. operations.
Quandri Appoints Patrick Mulroy as Head of Strategy and Partnerships to Drive US Expansion
AI-powered InsurTech firm Quandri has appointed Patrick Mulroy as head of strategy and partnerships to support its expansion into North America and its first Boston office. With extensive experience from Gallagher, HUB International, and Tarmika, Mulroy will focus on driving growth through strategic partnerships and innovative market initiatives. CEO Jackson Fregeau praised Mulroy’s ability to navigate complexity and foster meaningful collaborations. Mulroy emphasized Quandri’s mission to address systemic issues in the insurance industry, highlighting the significant opportunities ahead. This leadership transition marks a crucial step for Quandri as it aims to enhance its impact in the InsurTech sector.
Metro Bank Partners with Ask Silver to Launch Innovative AI Scam Detection Tool
Metro Bank has partnered with AI scam detection firm Ask Silver, becoming the UK’s first bank to implement advanced technology to combat financial fraud. This collaboration has led to the launch of the Metro Bank Scam Checker, which enables customers to verify the authenticity of communications such as emails and websites. Users can send photos or screenshots via WhatsApp, and Ask Silver’s AI will analyze them for legitimacy within minutes. The service offers instant verification, educational resources on scam tactics, real-time fraud alerts, and automatic reporting to authorities. Metro Bank emphasizes customer security and aims to enhance trust through innovative solutions.