🌊The Fintech Wave(#10)
The 10th edition of the Fintech Wave is out. TLDR; The crypto market is now worth $3T. Learn about revenue-based financing. Wealth management software company raises $19M. 500K signatures to list Shiba Inu on Robinhood. Check the best Tweets below. If you like this newsletter please share with friends and encourage them to SIGN UP HERE. All details are below👇
Europe News and Funding
Revenue-based financing💸 is now available for EU startups
Last year revenue-based financing became a popular option to finance your startup without giving % of your company to investors. Everything started a few years ago with Pipe - one of the most popular startups in the USA (mostly due to its CEO Harry Hurst). Pipe is also known to be the fastest fintech startup that reached unicorn status with a mission to become NASDAQ for revenue.
Traditionally, when a company wants to grow fast, it takes investment from investors and gives % of ownership. The idea behind revenue-based financing is that companies with recurring revenue can take financing based on future revenue instead of giving ownership to the investor. If you have $10K monthly revenue, you can take $120K of financing and repay it as you earn revenue each month, while keeping the ownership of the company.
Revenue-based financing is totally new asset class and investors love it because it gives predictive returns over time.
The concept is born in the USA, but it is coming to the EU. An Italian company, Viceversa, just raised €23M. Based on the company’s revenue, Viceversa can provide anywhere between €10,000 and €1 million in non-dilutive growth capital. Any company can get approval for financing within a few days since everything is data-driven - Viceverca checks revenue, the number of customers, industry, etc.
Americas News and Funding
JP Morgan invested in a wealth management software company
GeoWealth, an asset management platform for financial advisors, just raised $19M Series B. The platform focuses on RIAs - Registered Investment Advisor who advises high-net-worth individuals on investments and manage their portfolios. Software solutions for RIAs are complex: they need to have access to other investing platforms and overview all portfolios, but also mid- and back-office capabilities for reporting, billing, and accounting.
Currently, the company has more than 1000 users who manage more than $17B of assets. GeoWealth is a combination of SaaS and an outsourced investment platform. Product pricing is pretty interesting in this case: users pay 2 fees. The first one is a subscription to use software and the second fee is a percentage fee on assets it manages
Crypto ₿ites
Petition to list Shiba Inu🐕 on Robinhood reach 500K signatures
To list Shiba Inu coin on Robinhood is currently the leading petition request on the Change.org website. Shiba Inu is down more than 20% from the last week, so Shiba HODLERs are waiting for Robinhood to list the coin and launch it to the moon.
The total crypto market broke $3T capitalization
CoinGecko, one of the most popular crypto sites, announced that the total crypto market is now worth more than $3T for the first time.
They track 10.462 cryptocurrencies across 517 cryptocurrency exchanges. The previous record was $2.62T.
Tweets of the Week
