News June 27 2017
Currency Cloud, GoCardless, Kreditech, Smava, and Zooz listed in the CB Insights Fintech Top 250
The Fintech 250 is a list created by CB Insights recognising the 250 top private companies changing the face of financial services around the world. From insurance to blockchain to lending and wealth management to regtech, and more; the list is comprised of companies in sectors across the fintech spectrum and across markets. How The Fintech 250 Companies Were Selected It is a purely data-driven/algorithmic process that uses CB Insights data. Factors considered in their algorithim include: Momentum - Considers non-traditional signals including news mentions, sentiment, jobs data/hiring, social media, web traffic and usage, partnerships and more. Market - Quantifies the health of the sector and industry the company is involved in, including funding, deals, exit activity, and hiring. Money - Assesses financial signals including funding recency and total raised. Investor quality - Weighs the quality of the investors participating in deals to the company, judging investors based on exits, returns, and portfolio quality. Among those selected include Currency Cloud, GoCardless, Kreditech, Smava, and Zooz. Find the full list here: https://www.cbinsights.com/reports/Fintech-250.pdf
News June 21 2017
NASDAQ Welcomes Bonesupport to the Main Market
Nasdaq (Nasdaq: NDAQ) announced that Bonesupport Holding AB (short name: BONEX), a small cap company within the health care sector, has started trading of its shares on the main market of Nasdaq Stockholm. Bonesupport is the 63rd company to list at Nasdaq’s Nordic markets* in 2017. Bonesupport is a Swedish commercial stage orthobiologics company aiming to improve the lives of patients suffering from bone disorders. The company develops and commercializes injectable bioceramic bone graft substitutes to treat bone voids, based on its novel, proprietary Cerament technology platform. Bonesupport is headquartered at the Ideon Science Park in Lund, Sweden, with additional sales offices in Germany and the US. For more information, please visit www.bonesupport.com. “We are pleased to have completed our IPO on the Nasdaq Stockholm main market and that our shares have started trading today,” said Richard Davies, CEO of Bonesupport. “Our listing is a key step in supporting Bonesupport’s growth strategy. Our IPO has provided us with the funds to drive our sales in both the US and Europe, to generate additional clinical data to enhance the competitive positioning of our products, to complete the Fortify study, which is key to gaining US approval for Cerament G, and to invest in our pipeline. This strategy will allow us to deliver our 2020 financial targets and to generate significant value for shareholders.” “We welcome Bonesupport to the Nasdaq Stockholm main market,” said Adam Kostyál, SVP and Head of European listings at Nasdaq. “We continue to see a strong inflow of health care sector companies leveraging the public markets as a platform for future growth, and Bonesupport will make an exciting addition to that list.”
News May 10 2017
Cellnovo Secures €5m from Kreos Capital
Cellnovo secures eur 5 million ($5.5 million) debt financing from Kreos Capital. Reports that it has signed an initial structured debt financing agreement with Kreos Capital. This eur 5 million financing comprises one tranche and has been fully drawn down as of today and these funds supplement the equity line facility (paceo) recently implemented with Kepler Cheuvreux.
News April 8 2017
Spotcap Announces Fintech Fellowship for Aspiring Graduate Students
Initiative highlights need for talent and encourages the industry to raise awareness of career opportunities in FinTech At a time of increasing need for graduates with fintech expertise, the Spotcap Fintech Fellowship programme affords young talent with the opportunity to pursue studies in a fintech related field. Launching on 10th April, the Fellowship will provide one student per academic year with a £8K stipend towards their studies. The fintech sector is one of the UK’s fastest growing sectors, adding more than £6.6 billion into the economy and attracting more than £500 million of investment. Its continued success is closely connected to access to talent, in the short- as well as long-term. A recent survey by recruitment website Indeed revealed that 20 percent of top fintech job vacancies are left unfilled after 60 days. The data highlights an immediate need for managers, analysts and developers with financial and technical expertise. The triggering of Article 50 brings further long-term uncertainty, compounding the issue of fintech’s access to talent. As negotiations start, more questions on how to secure a healthy talent pipeline are likely to be raised. Despite the agreements put in place between the UK and other European markets regarding movement of talent, it is certainly the case that the UK needs a robust base of skilled labour. “The rising cost of graduate studies, combined with the UK’s impending exit from the European Union, could create real challenges when it comes to ensuring a strong and healthy talent pipeline,” said Niels Turfboer, managing director of Spotcap. We created the Spotcap Fellowship to raise awareness of these issues and encourage the UK fintech industry to get involved in attracting and supporting the development of talent.” Devie Mohan, co-founder and CEO of Burnmark, a fintech research institute, joins the Fellowship’s judging panel. She continues: “The UK government recognises the need for fintech related skills and initiatives. Indeed, supporting the development of these skills was announced in the Spring Budget and Digital Strategy. As an industry we should also step up and contribute. For the message to resonate, aspiring graduate students need to hear ‘we want you’ directly from fintech businesses as well.” For more details on the fellowship, visit our dedicated site: https://www.spotcap.co.uk/fintech-fellowship/. About Spotcap Spotcap provides flexible and accessible small business financing, allowing entrepreneurs to focus on what matters – their business. We developed our credit risk algorithm in-house and lend from our own balance-sheet. Headquartered in Berlin Germany, Spotcap launched in Spain in September 2014 before expanding to the Netherlands and Australia in 2015, the UK in 2016 and New Zealand in 2017. The company is led by CEO and founder Jens Woloszczak and Niels Turfboer, who is the managing director of Benelux and UK. The growing team currently consists of more than 100 employees. Spotcap is backed by investors including Rocket Internet, Finstar Financial Group, Access Industries, Holtzbrinck Ventures and Kreos Capital. Read more about Spotcap: https://www.spotcap.co.uk/
News March 30 2017
Children’s Medicine Developer, Proveca, raises £4m
A Manchester-based specialist pharmaceutical company developing medicines for children has raised £4m to finance the commercial roll-out of a product. The investment in Proveca was led by Catapult Ventures, manager of the Greater Manchester and Cheshire Life Sciences Fund, and growth debt financing provider Kreos Capital. The business plans to use the cash to fund the commercial launch of Sialanar, a treatment for chronic pathological drooling in children. It will use the cash to develop sales and marketing capabilities in Europe. "This is a significant milestone in enabling Proveca to deliver its business plan, which will make a significant contribution to addressing the unmet medical needs of children," said Dr Simon Bryson, who founded Proveca alongside Dr Helen Shaw. Dr Gareth King, life science partner at Catapult Ventures, added: "We're delighted to have led this investment in Proveca and are excited by the potential to help build a leading European specialty pharmaceutical company focused on medicines for children." Proveca was advised on the deal by Dr Tim Wilson of Longcross Advisers and legal adviser was Amy Wright at 3volution. The GM&C Life Sciences fund legal adviser was Melanie Yeomans at Ward Hadaway and Kreos Capital was advised by Richard Bloomfield at Bird & Bird.
Quarterly Newsletters March 30 2017
Kreos Newsletter Q1 2017
In this edition of Kreos Quarterly, we discuss news from the JP Morgan Healthcare Conference, we interview Bo Ilsoe, Managing Partner at Nokia Growth Partners, and Sijmen de Vries, CEO of portfolio company Pharming and we highlight some of the latest developments across our portfolio.