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[Bloomberg]
Klarna has emerged as the leading fintech unicorn in Europe for spawning new startups, with 62 companies founded by its alumni, surpassing rivals like Revolut and Wise. Despite recent layoffs and a hiring freeze, Klarna's size and innovative work culture position it as a fertile ground for entrepreneurial talent. The trend reflects a broader "flywheel effect" in Europe's fintech sector, where experienced professionals are increasingly launching their own ventures.
Martin Gilbert, Chairman of Revolut and founder of Abrdn, is reportedly interested in acquiring Banque Havilland's Monaco subsidiary after Andbank withdrew from a potential purchase. A consortium of private individuals has agreed to take over, pending regulatory approval, while Revolut may be eyeing Havilland's banking license. Meanwhile, the Liechtenstein subsidiary is facing liquidation, with EFG International emerging as a likely buyer.
The ECB's banking supervisory authority revoked Banque Havilland's license in Luxembourg, prompting the search for buyers for its subsidiaries in Monaco and Vaduz/Zurich. Andbank backed out of acquiring the Monaco unit after due diligence, while a consortium of private individuals, including industry heavyweight Martin Gilbert, is set to take over, pending regulatory approval. In Vaduz, EFG International appears to be the frontrunner for an asset deal following the self-liquidation of the Liechtenstein subsidiary.
The ECB revoked Banque Havilland's banking license in Luxembourg, prompting the search for buyers for its subsidiaries. Andbank has withdrawn its interest in the Monaco branch, while a consortium of private individuals, including Martin Gilbert, is set to acquire it, pending regulatory approval. Meanwhile, the Liechtenstein subsidiary faces liquidation, with EFG International emerging as a potential buyer.
Revolut Ltd.
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