June 12, 2020

Cobase, a digital multi-bank platform, receives EUR 10M investment from Nordea and Crédit Agricole (Cobase)

The company has entered into a cooperation agreement with the Finnish retail bank Nordea and the French Crédit Agricole. Together they have invested EUR 10M in Cobase. ING [AMS:INGA] remains Cobase’s main shareholder.

The funds will be used to expand the business and allows Cobase to develop activities with two major players in the financial world who will use Cobase’ technology to serve their clients. According to their statement, Cobase anticipates more banks will join as strategic or commercial partners in the future.


Danish intelligent sports camera developer, Veo, receives EUR 3M from the Danish Growth Fund (ITwatch)

The funding was raised in a Venture Debt round. Co-founder and CEO Henrik Teisbæk aims to use the investment to improve their digital platform and AI that combined makes the core of their business.

The tech company grew by 700% in the last 12 months before the current crisis (re: Covid-19) but has now put its expansion plans on hold due to the football leagues of the world having been on a standstill.

Veo specializes in intelligent cameras used in sports and its accompanying web platform has more than 2,000 subscriptions worldwide from football clubs.

Previous investors include SEED Capital and Ventech.


Attractive.AI raise its latest funding round from Superhero and Japan’s #1 footballer (Tech.eu)

The seed round was led by the Finnish VC, Superhero Capital – actualy being one of the first investments from their new fund. Other investors include Tue Lumbye (founder of BetXpert), Jaakko Salminen, Tatsuro Shimada and Keisuke Honda (Japan’s #1 footballer).

Attractive has developed a bot that automatically analyses and reports on the UX of websites and digital products, and according to Tech.eu, the company is on a mission to “rid the world of bad websites”, a potentially lucrative path given the Google algorithm will now favor sites with better UX.


BlackRock invests in Trustly, a Stockholm-based bank transfer payments platform now valued at over EUR 1B (Privateequitywire)

The fintech’s latest minority round was raised from a consortium of investors including BlackRock Private Equity Partners, Aberdeen Standard Investments, Neuberger Berman, Investment Corporation of Dubai and RSIC.

The funds will be used to invest in products, infrastructure and expand geographically. Founded in 2008, Trustly support 6,000 banks and 600m customers in Europe and North America. It employs 400 people.

Nordic Capital announced the acquisition of Trustly in March 2018 for EUR 700M with the aim of supporting the expansion of the business internationally, and still holds the majority stake in the business.


Swedish digital signature and identity company, Scrive, has raised capital from Vitruvian Partners (Mergermarket)

The company announced on Tuesday that it has received investment from London-based Vitruvian Partners. Financial terms and conditions of the investment were not made public, although Mergermarket has previously reported they were looking to raise EUR 10M back in 2017.

The funding will be used to expand offerings, enhance the customer experience and expand in Europe.

The investor, Vitruvian, usually deploys between EUR 25M and EUR 250M in companies valued between EUR 75M and EUR 1B. It manages assets worth EUR 5bn, according to the source.


Indoor positioning startup Iiwari raises EUR 1.5M seed funding (Vttresearch)

The round was led by the deep tech fund Voima Ventures. Various UK & US-based strategic angel investors also participated.

The funding will be used to accelerate the commercialization of the Ultra Wide Band (UWB) technology developed by VTT and enable global operations.

According to the source, Iiwari’s UWB positioning technology provides higher accuracy and substantial cost efficiency compared with competing solutions (including WiFi and Bluetooth).