Klarna & Gemini IPO Final Countdown
Hey FinTech Fanatic!
May have come the time we’ve been waiting for, not weeks, but months!
After 5 months of Klarna and Gemini pausing their IPO plans, now could be their “Liberation Day”, unless Trump shakes things up again 😂
After other FinTechs listed this year I’ve covered, Etoro, Chime, Circle, and Bullish, it’s finally Klarna and Gemini’s turn.
Klarna, the BNPL FinTech moving into neobank, is targeting a U.S. listing at up to $14 billion, hoping to raise $1.27 billion.
Meanwhile, Gemini, the Winklevoss twins’ crypto company, aims to raise up to $317 million at a $2.22 billion valuation.
Scroll down to read the full story and get your daily FinTech dose 👇
See you tomorrow!
Cheers,
FINTECH NEWS
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🇺🇸 Sweden's Klarna targets up to $14 billion valuation in eagerly awaited US IPO. The buy now, pay later lender and some of its investors plan to sell 34.3 million shares in the IPO at prices expected to be between $35 and $37, aiming to raise $1.27 billion.
🇺🇸 Winklevoss twins-backed Gemini targets $2.2 billion valuation in US IPO. The New York-based company, founded by twins Cameron and Tyler Winklevoss in 2014, plans to sell 16.67 million shares at $17 to $19 each, raising as much as $317 million at the top of the range.
🇬🇧 FinTech pioneers unite to build a bank for high-net-worth individuals. A group of well-known FinTech pioneers behind the likes of Monzo, Starling, and Nutmeg is launching a bank for high-net-worth individuals. Keep reading
PAYMENTS NEWS
🌍 Mollie has officially expanded its payment platform into Finland, Norway, and Denmark, offering businesses local payment methods, such as MobilePay (Finland and Denmark), Vipps (Norway), and Swish (Denmark and Norway), alongside global options like credit cards, Apple Pay, Google Pay, and Klarna, plus full support in the local languages with fast integrations via Shopify, WooCommerce, Magento, and PrestaShop; these simultaneous launches reinforce Mollie’s strategy to establish a strong Nordic presence.
🌍 Trust in the Digital Economy 2025 by Checkout.com in partnership with YouGov. The report examines the critical role of trust in digital commerce. Unlike traditional retail, where trust is built into in-person transactions through methods like chip and PIN or cash, online commerce requires businesses to actively earn consumer trust. Also, it highlights how this dynamic makes trust both a valuable asset and a volatile factor in the digital economy.
🇬🇧 Turning failed payments into a revenue recovery machine by Solidgate. Soft declines cause up to 90% of failed online payments, significantly impacting subscription businesses. Static retry methods often fail, leading to lost revenue and inefficiency. Solidgate’s AI-powered smart retries optimize timing to recover more payments and reduce churn.
🇧🇪 Radisson Hotel Group advances global payment strategy with CellPoint Digital’s payment orchestration platform. The new platform establishes a payment infrastructure that supports Radisson Hotel Group’s continued expansion, enabling the rapid onboarding of new properties and markets.
🇬🇧 Ecommpay is named as a finalist in nine 2025 payments awards categories, recognising the work Ecommpay does to improve accessibility and deliver better payment solutions. Some of the categories are Best Alternative and Online Payments Solution, B2B Payments Innovation of the Year, International Payments Excellence Award, and Embedded Finance and Open Banking Award.
🇵🇱 TrueLayer launches in Poland, strengthening European payments leadership. Polish businesses can sign up to TrueLayer’s instant payouts product. Its entry into the market will enable businesses to benefit from instant settlement, reduced costs, increased success rates, and real-time reconciliation.
🇰🇷 Toss to expand pay-by-face to 1 mil. stores nationwide by 2026. The service, called "Face Pay" by Toss, enables users to make payments at stores simply by looking at a terminal, after registering their facial information and payment method in advance through the Toss app.
🇪🇺 Klarna launches debit-first card across Europe for everyday spending. The Klarna Card, powered by Visa Flexible Credential, is debit by default, letting users pay instantly with their own money, while also offering flexible options. Within the Klarna app, consumers can choose: Pay in 3, Pay Later, or longer-term financing for larger purchases, subject to approval.
🇸🇬 Coda Payments cuts loss by 34% as revenue slips to US$167.8 million. Segno Pte Ltd, the holding company of Coda, reported a net loss of US$11.8 million for the year ended December 31, 2024, compared with US$17.95 million in 2023. Continue reading
REGTECH NEWS
🇦🇺 Revolut pays AUSTRAC $187,000 for reporting failures. Revolut Payments Australia was issued infringement notices of $187,000 for “self-disclosed failures to submit international fund transfer instructions within the timeframe stipulated by the Anti-Money Laundering and Counter Terrorism (AML/CTF) Financing Act”.
DIGITAL BANKING NEWS
🇪🇸 UniCredit enters the digital banking war in Spain with Aion Bank and launches a competition with ING, Openbank, and Revolut. UniCredit completed the full acquisition of Aion Bank and banking services provider Vodeno, aimed at helping the Italian bank accelerate its journey toward digital banking.
🇩🇪 Finom rolls out an AI accountant for German customers. This system streamlines accounting workflows with proactive transaction categorization and reconciliation, receipt and invoice recognition, bookkeeping record creation, preparation of tax declarations, and submission to tax authorities.
🇦🇺 Westpac to hire hundreds of bankers in business lending push. In an update on its business and wealth unit, the Sydney-based bank said it had hired 135 bankers in the first half of 2025 and plans to add another 350 by the 2027 financial year. Westpac’s digital tool allows faster processing for business loans.
BLOCKCHAIN/CRYPTO NEWS
🇺🇸 zerohash Trust Company is approved to launch. zerohash Trust Company builds on zerohash’s proven track record of robust, trusted stablecoin, crypto, and tokenized asset infrastructure. The trust permits zerohash to act as a qualified custodian for registered investment advisors and to power 401 (k) and IRA accounts.
🇦🇺 Coinbase and OKX push crypto into Australia’s retirement system. Instead of leaving investors to set up their own structures and manage custody independently, the exchanges offer services that combine referrals to accountants and law firms with integrated custody and record-keeping to meet audit requirements.
🇺🇸 Kraken and Backed expand tokenized US stocks to Ethereum via xStocks. As part of the integration, eligible Kraken clients will be able to deposit and withdraw xStocks directly on Ethereum. Backed will issue xStocks as ERC-20 tokens and ensure full 1:1 collateralization for every equity listed on Kraken’s platform.
PARTNERSHIPS
🇬🇧 Visa partners with Ample Earth to power sustainable spending. Together, Ample and Visa aim to embed sustainability data into digital banking apps and loyalty programmes and enable banks to better segment customers and unlock new ways to engage, empower, and reward sustainability.
🇺🇸 Thunes and Ripple expand global partnership to transform cross-border payments. By leveraging Thunes's Network with Ripple's blockchain-powered payments solutions, the two companies are driving more efficient and accessible cross-border payments for financial institutions and businesses around the world.
DONEDEAL FUNDING NEWS
🌎 LatAm FinTech Kapital raises funds at $1.3 billion value. The funds will help to build out its artificial intelligence capabilities. The profitable company now has 300,000 customers across the US, Mexico, and Colombia, as well as a $3 billion balance sheet.
🇬🇧 Fiinu bags £1.4M as Luxembourg fund backs UK FinTech after Polish FX Buy. The FinTech secured fresh capital through issuing 9.4 million shares at 15 pence each. It will use the funds for working capital as it develops its Plugin Overdraft banking technology following its recent acquisition of forex firm Everfex.
🇩🇪 German digital asset custodian Tangany raises €10 million. Since its €7 million Seed round led by Nauta Capital in 2022, Tangany has doubled revenues and amassed $3 billion in assets under custody. The company now serves 700,000+ accounts across 60+ institutional clients, including FlatexDEGIRO, eToro, and Bitvavo.
🇨🇿 Crypto exchange OrangeX raises $20M in Series B funding. OrangeX said the new capital will be used to strengthen core infrastructure and support the platform’s expansion in international markets. Keep reading
🇺🇸 Kite raises $18M to bridge stablecoin payments and autonomous agents. Kite said it plans to expand integrations across commerce, finance, and data platforms, while positioning itself as the default stablecoin payment layer for autonomous agents.
M&A
🇬🇧 Zopa Bank expands payments grip with retail finance acquisition. The FinTech has snapped up Rvvup, a platform designed to streamline businesses’ acceptance, collection, and management of payments. Zopa said the acquisition will treble the size of its embedded finance business in two years, which covers the integration of financial products into non-financial platforms.
🇬🇧 FinTech lender ThinCats snapped up for a reported £180M. The acquisition is intended to accelerate Shawbrook’s existing presence in the specialist SME lending market, providing tailored finance facilities. It will include a projected loan book of £700m with corresponding risk-weighted assets of approximately £600m.
🇳🇱 Nasdaq-listed crypto exchange group Coincheck buys regulated prime broker Aplo. The acquisition will help Coincheck, a popular exchange in Japan, expand into Europe, the companies said. The financial terms of the deal were not revealed.
🇳🇵 Khetan Group joins FinTech by buying a stake in Fonepay. According to Nepal Rastra Bank (NRB), Khetan purchased the stake as part of a larger deal in which ten investors collectively acquired 22.23 percent of the company’s shares for around Rs1.49 billion.
MOVERS AND SHAKERS
🇬🇧 Form3 co-founder Steve Cook steps down from the CTO position and takes on a strategic advisor role. Under his technology leadership, Form3 has established itself within the UK's real-time payment space, now processing more than one-third of all real-time account-to-account payments in the country.
🇺🇸 Biometric identity firm Keyo transitions leadership with Rudy Dajie as new CEO. Dajie's responsibilities will include overseeing the development of integrations for various point-of-sale systems and payment gateways, while also introducing an improved developer interface.
🌍 Wealthtech Flanks names Sebastian Henrichs as COO. Henrichs will support Flanks’ international growth strategy and operations, with a focus on DACH and the UK, while strengthening finance and partnerships as the company experiences rapid growth across Europe.
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