EMEA Daily: Raisin Bank Expands Into Payments Space With Bankhaus August Lenz Acquisition

In today’s top stories from Europe, the Middle East and Africa, robotics company BotsAndUs gets funding, retail sales stall in the U.K. and Raisin Bank AG is acquiring the payment services division of Bankhaus August Lenz & Co.

Warehouse Robotics Firm BotsAndUs Lands $13M Seed Round

Data-driven warehouse robotics company BotsAndUs has netted $13 million in seed funding.

The London-based business will use the fresh capital to fund further product development and expand into markets including Germany, France, the Nordics, the United States and Canada, per a statement.

BotsAndUs build autonomous warehouse operations robots that apply real-time insights to enhance warehouse management and oversight. The robots capture the volume and condition of pallets as they enter and leave the warehouse, scan goods on shelves and record their location and quantity.

Retail Recession Woes Spread as UK Business Organization Reports Ongoing Downward Trend

Retail sales volumes are down approximately 5% for the year through June, according to survey data from the latest Confederation of British Industry (CBI) Distributive Trades Survey released on Thursday (June 23).

Marking the third month in a row during which retail sales have stalled in the U.K., the survey shows that year-over-year retailers’ orders with their suppliers fell 8% in June, compared to a 2% increase last year.

The news comes as inflation in the country is causing consumers to spend less.

Raisin Bank Expands Into Payments Space With Bankhaus August Lenz Acquisition

Frankfurt-based Raisin Bank AG is acquiring the payment services division of Bankhaus August Lenz & Co. in a move that will allow it to expand into payment services and cash solutions.

As a result of the acquisition, the Banking-as-a-Service (BaaS) provider will play a part in the operation of over 4,500 ATMs in Germany.

Previously known as MHB Bank, since purchasing the FinTech company Raisin in 2019 the bank has operated under the Raisin brand. Today, Raisin Bank implements digital banking solutions for startups, investors, and financial service providers.

Hokodo Raises $39.7M in Series B Funding

London-based startup Hokodo has raised 37.8 million euros in a Series B funding round led by Notion Capital.

Hokodo is part of a rising cohort of FinTechs seeking to adapt the buy-now-pay-later (BNPL) model for the B2B payments market. The company has clients including Ankorstore, Katoo, and Paris Fashion Shops.

In a statement on its website, the company said the funding will be used to develop new B2B BNPL products and solutions for telesales and in-store purchases.