Perspectives

Insights

Analysis and opinion from the Estes Capital team on European fintech, regulatory change, seed investing strategy, and the forces reshaping financial services.

Regulation — Featured

The Regulatory Tailwind: How PSD3 Reshapes European Fintech Investment

PSD3 is not merely an update to an existing directive. It represents a structural reset for European fintech, opening new markets while obsoleting old business models. Here is what it means for founders and investors.

May 2025 — 12 min read — Claire Dubois

Open Banking

Open Banking's Second Act: Beyond Payments into Credit Infrastructure

The first wave of open banking disrupted payments initiation. The second wave is about to do the same to credit decisioning and lending infrastructure.

July 2025 — 10 min read

Seed Strategy

Why Seed Is the New Series A for European Deep Fintech

Seed rounds are getting larger, teams more experienced, and regulatory complexity is compressing timelines. The playbook is being rewritten.

September 2025 — 9 min read

Embedded Finance

The Rise of Embedded Finance: Where Infrastructure Meets Distribution

Embedded finance is fundamentally a distribution problem disguised as a technology problem. Understanding this changes how you build and invest.

October 2025 — 11 min read

Cross-Border

Currency Risk and the Cross-Border Fintech Founder

Multi-currency operations are table stakes for European fintech, but most seed-stage companies have no coherent FX risk strategy. Here is the framework we use.

December 2025 — 8 min read

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