EMEA Daily: London BNPL FinTech Zilch Launches in Europe, Kenyan BNPL Startup Lipa Later Raises $12M, Eyes More African Markets

In today’s top Europe, Middle East and Africa news, the London-based buy now, pay later (BNPL) FinTech Zilch has launched in Europe, and the Kenyan BNPL startup Lipa Later has raised $12 million.

Plus, Barcelona-based Last.app cooks up $2.5 million to expand its restaurant management platform, the finance platform Railsbank enters the BNPL arena and the U.K. Parliament Committee sees more risks than benefits in central bank digital currencies (CBDCs).

London BNPL FinTech Zilch Launches in Europe

London-based BNPL firm Zilch is now offering its services across Europe as it challenges Afterpay and Klarna in the highly competitive sector, TBTech.com reported Thursday (Jan. 13).

The FinTech said the expansion is possible thanks to its expanded partnership with Mastercard. Zilch allows users to pay at any merchant that accepts Mastercard. Typically, BNPL merchants offer the option at checkout on selected retailers’ websites.

Kenyan BNPL Startup Lipa Later Raises $12M, Eyes More African Markets

Lipa Later, a BNPL company operating in Kenya, Rwanda, Uganda and Nigeria, has raised $12 million from a group of investors.

The funding round, a mix of equity and debt, included backing from Cauris Finance, Lateral Frontiers Ventures, GreenHouse Capital, SOSV IV LLC, Sayani Investments and Axian Financial Services.

Barcelona-Based Last.app Drums Up $2.5M to Expand Restaurant Management Platform

Barcelona-based startup Last.app has received 2.2 million euros ($2.5 million) to expand its restaurant management platform, the company announced Thursday (Jan. 13). The company’s software was developed to simplify the day-to-day operations and management of restaurants.

“With this round we begin a new phase, whose main mission will be to mass-market an ecosystem of unique and in continuous improvement tools in the market,” Eric Nikolic, co-founder and CEO of Last.app, said in a statement.

After $1B Fundraise, Checkout CEO Says Company Is 100% Enterprise Focused

Two days after his company announced it had raised $1 billion, Checkout.com Founder and CEO Guillaume Pousaz appeared on CNBC’s TechCheck, where host Deirdre Bosa asked how Checkout stays ahead of enterprise market competitors like Stripe.

“We’re 100% enterprise focused. This is in our DNA since the beginning,” Pousaz said. He welcomed the competition, noting that Checkout’s strength is in its service.

Finance Platform Railsbank Enters BNPL Arena

Embedded finance platform Railsbank has launched a BNPL tool the company says will give retailers “a greater share of the spoils.”

“Current BNPL providers brand their own offerings which take the customer away from the original retailer’s website and onto their own,” the U.K. company wrote on its blog Thursday (Jan. 13). “Here they engage and nourish, meaning the original seller misses out on a wide range of marketing opportunities.”

Cocoon Teams with EML’s Nuapay to Drive Digital Payments for Car Dealers

Payments platform Cocoon is partnering with EML’s opening banking product suite solution Nuapay to drive digital payments at car dealerships and save on processing fees while offering customers an easier way to pay.

“Cocoon makes taking remote payments from our customers much quicker and more secure than taking card details over the phone,” John Graeme, finance director at Redline, a U.K.-based premium car dealer and a partner of Cocoon, said in a press release on Thursday (Jan. 13).

UK Parliament Committee Sees More Risks Than Benefits in CBDCs

The Economic Affairs Committee at the U.K. House of Lords published a report on Jan. 13 casting doubts about the benefits of creating a retail Central Bank Digital Currency (CBDC) in the U.K., sending a message to the Bank of England (BoE) that any proposal would need parliamentary approval.

The committee acknowledged that a CBDC could have some benefits for consumers, though not many, but the risks associated with bank disintermediation or cybersecurity outweighed those benefits.

Omnichannel SMB Messaging Platform Superchat Raises $15.6M

Superchat, an all-in-one messaging platform for small and medium-sized businesses (SMBs), has raised 13.6 million euros ($15.6 million) in a Series A round, EU-Startups reported Thursday (Jan. 13).

The funding round was led by London-based VC Blossom Capital, with participation from 468 Capital. This latest investment brings the Berlin-based tech startup’s fundraising to $18.8 million.

Investors Bet Restaurant Apps Beat the Aggregators

Today, technologies that can offer restaurants the tools they need to hold their own in the digital ordering space against third-party aggregators are highly in demand among operators, and investors are taking note.

Multinational ResTech company Flipdish announced in a Thursday (Jan. 13) press release that, with its new $100 million investment, its valuation has risen to $1.25 billion, reaching unicorn status.

Workplace Intelligence Security Company Shield Gets $15M Investment

Shield, an Israeli workplace intelligence platform for compliance firms, closed a $15 million Series A funding round, the company announced Thursday (Jan. 13).

The Tel Aviv-based firm said it will use the cash to expand its presence in the U.S. with the addition of a New York City office, while boosting its profile in Europe, the Middle East, Africa and the Asia Pacific.