Bits of Stock, Formance, Aveni and Datia

Our weekly fintech roundup for you to get the latest funding news from across Europe, featuring Bits of Stock, Formance, Aveni and Datia.


Bits of Stock raises $4.5 million

Amsterdam-based fintech Stock Pieces raised $4.5 million in seed funding from Yellow Accelerator by Snap Inc and Keen Ventures Partners.

The company says it will use the funds to expand its in-app rewards program.

Launched three years ago, Bits of Stock is an inventory rewards app that allows consumers to own inventory from the brands they shop with.

“Our all-new Growth Rewards API will replace cash back and loyalty points with fractional shares, cryptocurrencies and other assets as rewards, every time consumers buy,” says Bits of Stock.

“API customers like brands and fintechs can integrate a seamless rewards experience into their apps, choosing from thousands of fractional shares and cryptocurrency rewards.”


French open source start-up Form raised $3.1 million in a pre-selection round.

Based in Paris and backed by Y Combinator, Formance says it will use the new funding to expand its product offering and recruit talent.

Founded in 2021, Formance uses an application programming interface (API) to help fintechs and marketplaces “create and operate strategic money flows”.

Formance says its solutions can be used by start-ups and fintech marketplaces to earn commissions, split payouts, track fractional shares, schedule payouts and collect fees, with the company saying it will continue to add more use cases each week.


Aveni raises £2.75m

Scottish regtech Aveni pocketed £2.75 million in a funding round led by The Tricapital Syndicate and Par Equity, backed by Scottish Enterprise.

The company says it will use the funds to accelerate business growth, expand the market reach of its conversational AI platform, Aveni Detect, and strengthen its team.

Aveni says its platform “monitors and analyzes voice recordings and other digital interactions, where they are structured using complex algorithms and machine learning to uncover trends and actionable results leading to a range of business improvements”.

“These enhancements include automated risk insurance monitoring, identification of vulnerable customers, improved data analytics, and performance management for call center agents and advisors,” it adds. -he.


UK based fintech Data has secured £2.7 million in a seed funding round led by Nauta Capital.

Also participating in the round were Accel starter Ramzi Rizk, Söderberg and Partners, Sting and Zenloop founder Paul Schwarzenholz.

Dataia helps build digital tools to accelerate sustainable investments. In particular, the Datia API allows technology platforms to generate automated sustainability reports for each of their customers.

The company says that since its launch in 2020, it now has more than €110 billion in assets under management connected to its platform and that it “works with some of the most reputable investors in Europe”.

Mary I. Bruner