EMEA Daily: UAE PropTech Startup Huspy Raises $37M

In today’s top stories from Europe, the Middle East and Africa (EMEA), Emirati PropTech Huspy, Swedish electric vehicle marketplace Carla and German logistics platform TradeLink all close multimillion-dollar fundraising rounds. Plus, Nordic digital bank TF bank gets a banking license from Swedish authorities, while the United Kingdom’s Payment Systems Regulator announces plans to investigate rising payment processing fees.

PropTech Startup Huspy Nets $37M Series A

United Arab Emirates-based digital property financing firm Huspy has raised $37 million in a Series A funding round and launched a full-service property marketplace. Huspy is a home financing platform that allows buyers in the UAE to access mortgages online. The capital will be used to invest in technology development and pursue growth in the UAE, Spain and across Europe.

Carla’s $20M Funding to Grow EU Electric Vehicle Marketplace

Swedish startup Carla differentiates itself from competitors by allowing only full-electric cars and plug-in hybrids to be listed on the platform. Having established a presence in Sweden, the company has secured an additional 19 million euros (about $20 million) in funding to propel it into the wider European market. The funding was led by Bonnier Ventures, which was joined by Inbox Capital, Black Ice and VNV Global.

German Supply Chain Platform TradeLink Nets $12.6M in Series A Funding

Munich-based startup TradeLink has secured 12 million euros (about $12.6 million) in Series A funding. TradeLink has built an alternative to clunky and time-consuming manual logistics management by automating the coordination of deliveries between relevant stakeholders. By allowing partners to book their own delivery slots and synchronizing all information in real time, the software eliminates bottlenecks and centralizes data management for analytics and reporting. Tradelink will use the capital to scale its sales and marketing operations and to invest in product development.

TF Bank to Transfer eCommerce Subsidiary

The Swedish Financial Supervisory Authority has granted TF Bank’s Swedish subsidiary TFB Service AB a license to operate as a deposit-taking financial institution (FI). With the new license, the Nordic division of the company’s eCommerce payment solution, currently operating under the Avarda brand, will be transferred to a separate entity, enabling TF bank to separate off its eCommerce payment operations.

UK Regulator to Review Visa, Mastercard’s Processing and Swipe Fees

The U.K.’s Payment Systems Regulator (PSR) has detailed plans for two market reviews it will carry out focusing on card fees. One will consider scheme and processing fees, and the other will look at cross-border interchange fees. The PSR has chosen to focus both market reviews on Visa and Mastercard as they account for 99% of debit and credit card payments in the U.K. The regulator has concerns that the companies’ increases on fees may harm competition, innovation and service-users.