Portugal’s Top Emerging Fintech Rauva - Portugal Business News Portugal tech news – Portuguese Fintech Rauva acquired Portuguese bank Banco Empresas Montepio for around € 30 million and has been named one of Portugal’s Top Emerging Fintech. Fintech startup Rauva, that was founded in 2022 by Jon Fath and Sam Mizrahi, has been chosen by Portugal’s central bank, Banco de Portugal, to take part in its FinLab programme and has been named a Portugal’s Top Emerging Fintech. Fintech startups are in the limelight in Portugal, with almost 1.5 million Portuguese now using neobanks that operate exclusively online banking solutions. According to FinTech Magazine, Portugal is not only Europe’s 4th largest market in the fintech sector but also the fastest growing European country to adopt neobanking solutions. According to research by SEON, almost a third of Portuguese people will have a neobank account by 2027. The Fintech Times has stated that the introduction of the Digital Euro, that was announced by the European Commission in June 2023, promises to redefine transactions across the Eurozone. The co-founder and CEO of Portuguese fintech Rauva, Jon Fath, has stated that the acquisition of fully fledged bank Banco Empresas Montepio will not only allow the company to provide the best services, but this exciting move also puts them even closer to becoming one of Portugal’s first Fintech Unicorns. Rauva co-founder Sam Mizrahi, a Canadian real-estate tycoon, believes that the acquisition of Portuguese bank Banco Empresas Montepio will allow fintech Rauva to offer new financial products geared towards small and medium enterprises (SMEs), including new credit solutions. The Rauva app allows users to have a digital account and payments system, as well as physical and digital cards, and accounting solutions. According to Yahoo Finance, despite the fact that Europe’s Mediterranean region currently hosts 50% of the European Union’s SME’s and freelancers, there is a lack of market-specific banking apps due to market specificities such as differing tax, legal and banking requirements in the different countries. Portuguese fintech startup Rauva will target those 20 million potential customers by delivering a market-specific solution to the region. Portuguese fintech Rauva has established its headquarters at Portugal’s FinTech House, that is a leading digital hub, to enable the company to tap into the country's newly thriving tech community. According to Rauva CEO Jon Fath, “Portugal offers a lot of potential to tech start-ups. There is a growing community of tech specialists, a strong and modern network, and a powerful infrastructure that we will build on.” #portugalnews #newsportugal #techstartupsportugal #fintechstartupsportugal #techstartupsportugalnews #portugaltopemergingfintechRauva # BancoEmpresasMontepio #Rauva #PortugalTopEmergingFintech # FinTechMagazine #neobankingnews #TheFintechTimes #YahooFinance #SEON

Visa partners with fintech startups in Portugal - Portugal Business News Portugal tech news - Visa partners with fintech startups in Portugal for the 2023 edition of the Visa Innovation Program. Visa partners with companies having the highest potential and these include four fintech startups that are part of the program in Portugal.   The Portugal edition of the Visa Innovation Program Europe Summit, which took place in Lisbon, presented the most promising startups and scaleups in Portugal’s fintech ecosystem to clients and partners.   The Visa Innovation Program involves around 100 fintech companies and a diverse network of more than 100 commercial partners, including retailers, neo banks, Banking as a Service (BaaS) providers, e-commerce giants and logistics companies. The fintech companies that are part of the Visa Innovation Program provide solutions to some of the biggest challenges facing the financial sector, such as fraud detection, inclusive access to financing, digital wallets, new benefit models for employees, AI applied to data, the management of online purchase returns or embedded Finance for the integration of financial services in non-banking contexts.   “We want to continue contributing to the development of future payments and to the dynamism of the Portuguese market”, stated Gonçalo Santos, Country Manager at Visa Portugal.     Here are the fintech startups in Portugal that are part of the Visa Innovation Program 2023: 1 – coverflex The coverflex brand, by Portuguese company Universal Cover SA, allows companies to reduce their costs while offering their employees meal cards, benefits, and insurance coverage.     2 – Fraudio Fraudio is an Amsterdam-based scale-up that helps companies in the payments industry combat payment fraud and financial crime through its ability to create high-performance AI and ML models without costly customization. The Lisbon office is part of the Visa Innovation Program for Portugal.     3 – goscore Goscore is a Norwegian fintech that started operations in Portugal under the Visa Innovation Program. Goscore provides technological solutions that help obtain more accessible loans.     4 – HollyWally HollyWally is a fintech with headquarters in Singapore and its only office in Europe is located in Lisbon. HollyWally is the first digital wallet as a service aimed at B2B2C in the world and the company provides a platform for businesses of all sizes to create a private label digital payments/wallet solution within just a few weeks.   The innovative fintech company, that is based at the Lisbon Unicorn Factory, chose Portugal as its EU headquarters due to the vibrant startup ecosystem, to the fact that the government is very supportive of international startups and to the incredible local and foreign talent that can be found in such a beautiful and welcoming country. #portugalnews #newsportugal #technewsportugal #fintechstartupsportugal #visainnovationprogramportugal #VisaPortugal #UnicornFactoryLisboa

Portuguese fintech startups in the Visa Innovation Program 2024 - Portugal Business News Portugal news – Three Portuguese fintech startups were selected for the Visa Innovation Program Europe 2024 out of 115 applications from 25 countries.   The Portuguese fintech ecosystem is set to lead the next generation of payments and the startups that are part of the new edition of the Visa Innovation Program will work with Visa, with leading startup accelerator Hackquarters and with Portuguese tech consulting agency Fintech Solutions to expand on a global scale.     Here are the Portuguese fintech startups in the Visa Innovation Program 2024: 1 - Data4Deals   Data4Deals uses data to understand customer preferences and behaviors and to help financial institutions personalize their customer experience such as personalized card-based rewards and the monetization of transactional data.     2 – Paynest   Paynest provides a flexible salary payment platform created for the financial well-being of companies and of their employees. Paynest, that is part of the most recent cohort of Unicorn Factory Lisboa, raised USD 2.2 million in December 2023 to boost their European expansion.     3 – Starkdata   Starkdata developed a responsible AI and Machine Learning framework that is focused on managing useful information from customer life cycles.   #portugalnews #newsportugal #fintechstartupsportugal #financialnewsportugal #portuguesefintechVisaInnovationProgram2024 #VisaInnovationProgramEurope2024 #Visa #Hackquarters #FintechSolutions #Data4Deals #Paynest #Starkdata

Portuguese fintech HolyWally acquired by DCS Innov in a strategic move - Portugal Business News Portugal news - Portuguese fintech HolyWally was just acquired by DCS Innov in a strategic move to scale-up.   Portuguese fintech HolyWally, that is a member of the Unicorn Factory Lisboa Scaling Up programme, has been acquired by DCS Innov in a strategic move that highlights their innovative leadership in the Wallet-as-a-Service space.   This acquisition marks a significant milestone as the Portuguese fintech scale-up joins forces with DCS Fintech while the founder of HolyWally, Vel Vasic, takes on the role of Chief Commercial Officer at DCS.   DCS Innov, that is leading payment evolution through innovation, was born from the ambition of DCS Card Centre to lead next-gen payments in Singapore and the region.  DCS Innov empowers the co-creation and development of solutions that provide an integrated payment experience for consumers and businesses. HolyWally, the pioneering Wallet-as-a-Service (WaaS) platform on which InstaWally was designed and built, just launched one of the world’s first instant mobile wallet solutions designed for fintechs and companies eager to offer a mobile app embedded with payments services. InstaWally is an instant wallet app solution that embeds cards, virtual bank accounts and Web3 payments within an optimal user interface. The innovative solution enables any company to launch a customizable mobile app embedded with payment services in just weeks, without any prerequisites on payments or app development expertise. With this acquisition, HolyWally will leverage on the existing global client network to establish affiliate arrangements that expand the payment services within InstaWally, creating a "Lift-&-Shift" model where, after just a one-time integration, clients can scale alongside their market expansion. This marks a significant leap in the Portuguese fintech sector that enables global access to a seamless, secure and swift mobile payment experience, expanding from Portugal to  Singapore, the US, UK and Europe.   #portugalnews #newsportugal #fintechnews #technewsportugal #HolyWally #InstaWally #DCSInnov #WalletasaServiceplatform #WaaSportugal #unicornfactorylisboascalingupprogramme #nextgenpayments #investmentnewsportugal #financialnewsportugal

Portuguese fintech raises another million euros - Portugal Business News Portugal news - Portuguese fintech Paynest, that is among the 3 Portuguese fintech startups in the Visa Innovation Program Europe 2024 , just raised another million euros.   Fintech startup Paynest closed a two million euros seed round in December 2023 led by BlueCrow Capital and Lince Capital that are also now co-leading this 1-million-euro extension. With this new capital injection, the total investment raised by Paynest in less than two years of operation amounts to 3.5 million euros.   Founded in November 2022, Portuguese fintech Paynest has developed a platform simplifying employee finance with a flexible salary payment and expense management solution. The tech company currently has more than 50 clients representing a portfolio of around 30,000 clients, according to Nuno Pereira, co-founder and CEO of Paynest.   With the investment raised, Paynest has strengthened its sales team, developed two new products – the expense manager and instant cashback – and expanded its existing product with salary advances and advance subsidies.     Paynest, that has a presence in France and Spain, has obtained further investment to develop its presence on the Spanish market by investing in a strong sales team.   The Portuguese tech company is now recruiting for positions in sales, customer success and marketing for Portugal, Spain and France, under the hybrid work model. #portugalnews #newsportugal #financialnewsportugal #techstartupsportugal #Paynest #paynestfundingrounds #BlueCrowCapital #LinceCapital # VisaInnovationProgramEurope

Mastercard chooses Rauva as Portugal’s most promising fintech - Portugal Business News Portugal news - Mastercard just chose Rauva as Portugal’s most promising fintech at the Google for Startups Campus event in Madrid.   Portuguese fintech startup Rauva (a neobank for SMEs and independent workers) as well as Spanish startups Embat (a treasury management program for companies) and Silbo (enabling payments via WhatsApp) were the three companies selected to participate in the finals of the Mastercard fintech startups competition.   The three fintech startups will represent the Iberian Peninsula for the "Mastercard for Fintechs" finals to be held in Paris on November 25th.     #mastercard #rauva #portugalsmostpromisingfintech #mastercardforfintechs

Top 10 Portuguese fintech startups at the Web Summit 2024 in Lisbon - Portugal Business News Portugal news – Here are the Top 10 Portuguese fintech startups at the Web Summit 2024 in Lisbon.     Top 10 Portuguese fintech startups at the Web Summit 2024 in Lisbon: 1 – Rauva – Growth phase Rauva is supported by Lisboa Unicorn Capital. Building the first European Bank for Small and Medium Enterprises and Entrepreneurs.     2 - AllStructuredNotes ASN – Beta phase ASN democratizes structured notes through technology, offering streamlined solutions for execution and management, making access easy     3 – IVPAY – Beta phase We are the bridge between crypto-savvy individuals and those who want to accept it as a means of payment in everyday life.     4 – Paynest – Beta phase Paynest is supported by Lisboa Unicorn Capital. Paynest is the future of employee finance. A single platform to solve the most important financial needs of your employees, everywhere.     5 - Art2Trading by Learning2Trading, Lda – Alpha phase AI Trading Solutions for financial markets.     6 – Drexfy – Alpha phase Looking for better returns on your investments? Easily invest in private credit from Latin America.     7 - Granter.ai – Alpha phase Effortlessly find and apply for the right grants with AI-enhanced applications, reviewed by Human experts.     8 – Healin – Alpha phase First, you just had health insurance. Now, you have Healin.     9 - Indie Seguros – Alpha phase Insurance for the digital economy: real-time, tailored insurance solutions, charged per minute or per task, and integrated via APIs.     10 - Jupiter app – Alpha phase Jupiter app is supported by Lisboa Unicorn Capital. Robot accountant for freelancers. #portugalnews   #newswebsummitlisbon2024   #top10portuguesefintechstartupsatthewebsummit2024inlisbon   #fintechstartupsportugal

Portugal’s Fintech sector - Portugal Business News Portugal News - Portugal’s Fintech sector attracted 1.16 billion euros in funding in 2024, according to Portugal Fintech. Here is an overview of Portugal’s Fintech sector with the list of startups in Portugal’s Fintech ecosystem, as well as the most successful funding rounds for tech startups in Portugal in 2024 :   List of startups in Portugal’s Fintech ecosystem - Portugal Business News   The above chart shows the list of startups in Portugal’s Fintech ecosystem that comprises the following sectors: 1  - Payments and Money transfers with 12 startups, 2 - Regtech & Cybersecurity with 11 startups, 3 - Wealth Management & ESG with 6 startups, 4 - Lending & Credit with 13 startups, 5 - Insurtech with 13 startups, 6 - Real Estate with 4 startups, 7 - Blockchain & Crypto with 3 startups.   Moreover, there are 10 Emerging Fintech startups and 17 international Fintech companies operating in Portugal as per the above chart listing all Fintech companies operating in Portugal.     What are the leading enablers for Portuguese fintech startups?     1 - Associations such as Portugal Fintech – 36% 2 – Investors – 34% 3 – Accelerators such as Techstars – 14%   4 – Government Support – 9% 5 – Other – 7%     While only 42% of Portuguese companies had international investors in 2023, that figure jumped to 71% in 2024, showing a major increase in the global interest and support for Portuguese fintech startups. There is rising international interest in Portuguese fintech startups, with more than 2/3 of the rounds in 2024 involving international investors, compared to less than half in 2023. In 2024, the creation of new fintech startups in Portugal increased by 37% compared to 2023.   Overall, there are around 4,000 startups in Portugal, with an average annual growth of 25%, spread across the country. While Portugal’s main startup hubs are in Lisbon, Porto, Braga, Aveiro, Coimbra, Leiria, and Fundão, there is also a network of 130 incubators (RNI) all over the country.     What are the funds available for Portuguese startups in 2024?   There are more than 11 funds with over 100 million euros to invest in Portuguese startups and scaleups, as well as 52 fund management companies that manage 135 funds in 2024, according to António Dias Martins, Executive Director of Startup Portugal.     What were the most successful funding rounds for tech startups in Portugal in 2024? 1 – BHOUT BHOUT, the first boxing bag with a brain, was able to raise the biggest seed round in the world.     2 – DEFINED.AI DEFINED.AI, a Marketplace for ethical, high-quality AI training data, was responsible for the largest ever Series B round to be raised by a female-founded AI company in the US.     3 - SWORD HEALTH SWORD HEALTH, the Portuguese unicorn that provides virtual and digital physical therapy, is now valued at 2.8 billion euros.     4 – REMOTE REMOTE, that developed a powerful software to simplify global employment, is another unicorn born in Portugal.     Does Portugal have Unicorns?   While there are 6 unicorns that started up in Portugal, the country also attracted another 40 international unicorns to re-locate to Portugal. #portugalnews #newstechstartupsportugal #fintechstartupsportugal #investmentinportugalsfintechsector #overviewofportugalsfintechsector #listofstartupsinportugalsfintechecosystem #w hatarethefundsavailableforportuguesestartupsin2024 #whatwerethemostsuccessfulfundingroundsfortechstartupsinportugal #doesportugalhaveunicorns

Portuguese tech startup Meight raises 3.4 million euros seed round - Portugal Business News Portugal news - Portuguese tech startup Meight just raised 3.4 million euros seed round led by German VC Cusp Capital, with Faber, Grupo Lusiaves and EIT Urban Mobility.   Portuguese AI logistics tech startup Meight enables hands-off dispatching and streamlined operations monitoring through AI-driven automation and API standards, empowering the 95% of carriers that are mostly family-owned.   While road freight carriers are the backbone of logistics, moving 77% of inland freight in Europe, yet many still rely on outdated, manual workflows. This is why tech startup Meight logistics is building the market’s fastest cloud-based transport system to transform this reality across Europe. The tech platform eliminates paper-based workflows while optimizing resource utilization and driving operational efficiency.   For this investment round in Meight Technologies, German VC Cusp Capital was advised by the Abreu team of lawyers that was led and coordinated by lead lawyer André Modesto Pinheiro and supported by associate João Diogo Barbosa.  The other lawyers involved in the transaction were Joana Maldonado Reis and Mafalda Teixeira de Abreu, senior associates Filipa Vicente Silva and José Maria Alves Pereira, as well as associate Liliana dos Santos Soares.   Venture capital firm Cusp Capital is focused on European software and technology startups, investing in innovative early-stage companies that are on the verge of redefining their industries, thus contributing to new socio-economic and technological paradigms. Cusp Capital has invested over 600 million euros in European startups over the past 15 years.   With strong traction and a visionary team, Portuguese logistics tech startup Meight is on the way of becoming the global leader in trucking intelligence. #portugalnews #investmentnewsportugal #newstechstartupsportugal #logisticstechstartupportugal

What is the Portugal COMPETE 2030 program? - Portugal Business News Portugal news - What is the Portugal COMPETE 2030 program? Here is a list of some of Portugal’s Government tenders to be issued in 2025:   The Government of Portugal announced its Portugal COMPETE 2030 program on January 7th, 2025, with more than 3 billion euros of European funds and 935 million euros in Government notices to be issued in 2025.   According to the Portugal 2030 Plan, the publication of 282 Calls for Applications is planned, with an associated Fund allocation of €3,050,406,077, distributed across the social, economic, environmental, maritime and territorial areas. The aim of these investments is to promote research and innovation, the competitiveness and internationalization of companies, as well as entrepreneurship and social inclusion.   The Portugal 2030 Inter-ministerial Commission approved 25 tenders from the COMPETE 2030 and regional programs.     Here is a list of some of Portugal’s Government tenders to be issued in 2025: 1 - Business Competitiveness Incentive System (SICE) - 544 million euros Of this amount, €402 million are allocated to COMPETE 2030, to  promote the sustainable growth and competitiveness of SMEs, as well as their qualification and internationalization .     2 - Research and Development Incentive System (SIID) - 123.9 million euros These tenders aim to  develop and strengthen research and innovation capabilities and the adoption of advanced technologies, through business investment.     3 - Human Resources Qualification Incentive System (SIQRH) - 50 million euros To promote skills and qualifications in the business environment , in individual business training operations, joint business training and action training.     4 - Collective Action Support System (SIAC) - 20 million euros Two tenders for the Decarbonization of the industrial and business sector  and for the Digitalization of companies , with an allocation of  €20 million.     5 - Support System for the Creation of Scientific and Technological Knowledge (SACCCT) - 3.7 million euros These tenders, in addition to COMPETE 2030, involve the continent's Regional Programs, and are dedicated to the  protection of intellectual and industrial property and to supporting the creation of scientific and technological knowledge .     Here is the link to the Portugal 2030 Annual Call for Proposals  Plan  with the list of Government Notices.

Portugal will allocate grants of 149 million euros for innovation - Portugal Business News Portugal news - Portugal will allocate grants of 149 million euros for innovation, and SMEs will be able to access non-refundable support aimed at integrated research and development (R&D) projects and productive innovation.   Large companies in Portugal are also eligible for the 149 million euros support for innovation, provided that they are in consortium with SMEs. Entities in the research and innovation system (ENESII) may also join these consortia.   Portugal’s Government Notices will allow companies to apply for non-refundable grants for integrated R&D projects and productive innovation.  These projects should focus on completing the cycle of innovative solutions already with some degree of maturity, ensuring their arrival to the market.   Applications for Portugal’s grants of 149 million euros for innovation, the Mini Agendas, are open until May 30, within the scope of the Portugal 2030 agenda.   Portugal’s geographical areas covered by these Government tenders are the North, Center, Lisbon, Alentejo and Algarve regions (NUTS II of the Mainland) and applications will be open until May 30th, through the  Balcão dos Fundos  .   Portugal’s Mini Agendas are a simpler, more manageable and executable version of the traditional mobilizing agendas of the Recovery and Resilience Plan and are thus another step towards the reindustrialization of the national economy. The aim is to strengthen Portugal’s industrial capacity and the specialization of the economy for the production of innovative goods and services with high added value that are capable of competing on the international market.

Noxus Raises $1.5M to build AI workforces for enterprises - Portugal Business News EU tech news - Noxus – the first platform designed to build AI workforces for the world’s biggest enterprises – has raised $1.5m in pre-Seed funding from SFC Capital and Antler, Bynd Capital, Caixa Capital and AltaIR Capital, plus notable US and EU VCs and angels. Noxus paves the way for Europe’s next productivity shift, ensuring businesses remain competitive in an AI-first future. Founded by CEO João Pedro Almeida, CTO Jorge Pessoa and engineers Gonçalo Ferreira and Miguel Ribeiro, Noxus’ mission is to bridge the gap between powerful AI models and the people using them. By equipping enterprises with full-stack AI tools, it is building a future-proof ecosystem that can evolve and scale with the needs of next-generation enterprises. From adapting to rapid changes in AI to democratizing agentification for firms that don’t have AI at their core but want to remain competitive, and in control, in such a fast-moving landscape. Noxus is tackling Europe's productivity gap head-on by enabling businesses to quickly and easily deploy AI solutions. In just six months, Noxus has secured six-figure enterprise contracts across healthcare, finance, and FMCG. Noxus has helped a leading European healthcare provider save 700 hours a month; helped a global accounting group reduce churn by 50%; and seen a top law firm gain a 10x speed improvement in accessing knowledge. The funding will be used to scale the Noxus team, its operations and customer base so more enterprises stay competitive in an AI-first world. J oão Pedro, co-founder and CEO of Noxus, stated: “While industry frontrunners like Klarna have embraced AI ‘co-workers’ to supercharge efficiency, productivity, and even raise overall compensation, the vast majority of European businesses – particularly the 99% that don’t consider themselves tech companies – continue to struggle with tapping into the transformative potential of AI-driven workforces. “At Noxus, we see this disparity not as a roadblock but as an opportunity: our AI Operating System empowers organizations to seamlessly integrate advanced AI models into their day-to-day operations— no need for massive budgets or specialized in-house AI expertise. By bridging the gap between cutting-edge innovation and traditional sectors, we aim to spark the next workplace revolution, enabling every enterprise to expand its team with AI co-workers and unlock transformative productivity gains. Ultimately, our mission is to help close Europe’s productivity gap so organizations of all shapes and sizes can thrive in an increasingly competitive global landscape.” Smarter not harder By letting AI co-workers handle the most repetitive, manual tasks – from dispute resolutions, to claim processing, CV screenings and more – Noxus frees teams up to focus on what truly matters, while helping enterprises close Europe’s growing productivity gap. Workers across Europe waste nearly two days a week on tasks that could be automated, costing £271.6bn annually. Yet despite AI’s potential to close the gap, Europe’s biggest companies are struggling to integrate the technology, due to the sheer scale of processes, a lack of in-house skills, security and compliance fears, and not knowing where to start. As a result, European companies are losing time, money, and competitive ground, especially compared to the US, where AI adoption and productivity gains are accelerating. Enterprise autonomy All Noxus AI co-workers have full data regency because they’re fully deployed on the client’s infrastructure. This gives enterprises an unprecedented level of security, oversight and compliance and allows them to harness AI’s potential without ever losing ownership of their adoption journey, or having to rely on multiple AI integrations that can’t handle the complex nature of their enterprise processes. This combination of easy-to-use tools and deep support has seen Noxus secure six-figure enterprise contracts across healthcare, finance, and FMCG sectors in just six months of launching. Of these contracts, one leading healthcare provider in Europe has saved 700 hours a month with Noxus AI-Coworkers by automating a large part of its customer complaints and prescription analysis functions. Onboarding 10s of new healthcare clinics without the need to expand its team. A global accounting group has seen a 50% reduction in client churn after it used Noxus to automate predictive financial health monitoring, and a law firm that has deployed Noxus AI co-workers has seen a 10x speed increase in accessing knowledge. Google Growth Program Noxus was also recently selected for the Google Growth Program in the UK, further underscoring its potential as a leader in AI innovation. The $1.5m pre-seed funding will help Noxus improve the platform’s capabilities further, reach new enterprise clients and expand its business operations. Vegard Medbo, COO at Antler, stated: “Noxus is addressing a crucial challenge for large enterprises: implementing AI in production to achieve meaningful productivity gains without the usual complexity or risks. As organizations worldwide explore how to build their AI workforce and capitalize on this next wave of innovation, Noxus takes a unique approach. They’ve developed a horizontal platform designed to democratize AI adoption for legacy companies, empowering them to compete and thrive in a rapidly evolving landscape. We’re proud to back João, Jorge, and their team as they enable organizations to seamlessly integrate AI into their operations and unlock its transformative potential.”