Five-year-old fintech Loop went into administration. The startup, which offered a current account and pre-paid debit card aimed at young people, had secured an investment from Royal Bank of Scotland.
London fintech Transferwise announced it had raised $292m at a valuation of $3.5bn, making it the most valuable fintech in Europe. In doing so, the company also minted 33 new (paper) millionaires, which promises to be good for the European ecosystem.
Digital bank Monzo hit 2 million customers. More than 35,000 people are signing up every week.
Barcelona’s biggest startup hub is expanding. Pier03 — the follow-on to Pier01, an old shipping warehouse filled with startups, incubators, VCs and corporate innovation teams — will focus on blockchain technology and also be home to impact hub Civic Tech House. What about Pier02? That’s being saved for something even bigger and better, CEO Miquel Martí told Sifted.