Financial Super App from Estonia?🇪🇪; BNPL is dead. Long live BNPL! 💸; RegTech will be the hottest thing in Web3 in 2023 🚀

FinTech is Eating the World, 20 December

Hey Everyone,

Happy Tuesday! Yesterday’s issue was hot but today’s… 🫢 We’re going to look at Financial Super App from Estonia (can or cannot they deliver + 2 bonus read on the most interesting players in the space), BNPL which is dead, but long live BNPL (why +3 bonus reads you cannot ignore), and RegTech that will undoubtedly be the hottest thing in Web3 in 2023 (if you’re a founder, this could be your golden ticket!). Let’s jump straight into the awesome stuff:

Financial Super App from Estonia?🇪🇪

The news 🗞 Fiat-onramp Utorg raised $5 million in a seed round led by Dragonfly. TA Ventures and Hypra fund also participated in the round.

The USP 🥊 Founded in Estonia in 2020, Utorg is basically a payments gateway for fiat-to-crypto purchases in more than 187 countries. It has a team of 35 and has legal entities in Estonia, Lithuania, Singapore, Abu-Dhabi, Canada, and Thailand.

Future outlook 👀 We know that crypto on-ramps are super profitable businesses. Hence, it’s not surprising that Utorg has reportedly managed to grow at an exceptional rate even in a bear market.

But it’s not the growth that’s interesting - it’s what they are after. As reported by The Block, Utorg is aiming to build a Super App that merges the old and new worlds of finance. Sounds meh 😑 BUT…

Estonia has given us Wise, Bolt, and Veriff, among unicorns that have taken the world by storm. So why can’t it give us a solid Super App? 🤔

Let’s take a look and see what many are missing. For better or worse.