Hi Embedded Finance Friend

Winter has hit Berlin with the first snow. My daughter is excited, and I wonder why we don't live in a warmer place. It's all about perspective 🙂

I am delighted to announce our last virtual event for 2025. Paul Staples, who joined us for our very first virtual event, will be joining us again. We will recap what happened in 2025 and discuss the highs and lows of Embedded Finance of the past twelve months.

As always, the event is taking place on a regular video call, where everyone is invited to share their thoughts: Register now.

Lastly, this is the second time I've sent the newsletter through my new setup. I am still working out a few things and wanted to ask for a favour. Can you use the thumbs-up/down buttons at the end of this email to let me know if you received this mailing and everything looks fine? Highly appreciated!

And now let’s dive in 👇

Welcome to the Fintech Jungle - Event Recap

Last week, we hosted our 8th Embedded Finance Review Event in Berlin. A few people who have attended some of our past events have called it the best event we have hosted so far. And who am I to disagree with them? 😄 Jokes aside, it was a great venue, a perfect mix of participants, insightful insights on stage and super interesting discussions off stage.

A huge thanks to Banking Circle and Visa for sponsoring!

In-person events are always a lot of work. But when you read that people who usually skip events to focus on building products, really like your event, then that motivates a lot (See here on LinkedIn).

Do you want to partner for a future event? Check the event recap where I mention my following events.

Why Doctolib's Practice Management Move Makes Embedded Payments Inevitable

Doctolib just made a significant move that signals where embedded finance in healthcare is heading. The French company launched a full-stack practice management system in Germany, bundling appointment booking, patient documentation, invoicing, and AI-powered call handling into a single platform.

This matters because Doctolib spent over a decade building trust with thousands of doctors and patients, and now they're leveraging that wedge to become the operating system for German medical practices. And here's the kicker: once Doctolib owns the practice workflow, embedding payments becomes the natural next step. The company already has embedded payments through Adyen. Still, a complete practice management system opens the door to payment cards for practitioners, practice financing, and other financial features.

Want the complete breakdown of why this move makes embedded payments inevitable? Read the story on Embedded Finance Review.

Why Revolut's Booking.com Deal Matters More Than Just Payment Processing

Revolut has integrated its payment solution into Booking.com, enabling customers to pay with a single click and earn loyalty rewards. It's a standard payment partnership, but it reveals something much bigger about how Revolut is building its super app strategy around travel. Revolut has always focused on travellers, offering low FX fees, multi-currency accounts, travel insurance, and even an AI travel agent it acquired. The Booking.com integration is the latest move to position Revolut as the financial infrastructure layer for how people travel, connecting all the pieces travellers already need. While this isn't technically embedded finance, Revolut's approach of solving customer pain across verticals (like their HR software, Revolut People) shows why they're worth tracking. The company just hit a $75 billion valuation by getting the formula right.

Find out why this partnership matters more than just payment processing on Embedded Finance Review.

In other Embedded Finance news

• The all-in-one Global People platform Deel has hired its first Head of Crypto (LinkedIn).
• Research from the investment bank William Blair and Stripe shows that companies that offer Embedded Finance products are valued higher than their peers without Embedded Finance (Stripe).
• SAPI has announced an $80 million funding round, consisting of $75 million in debt and $5 million in equity. The UK-based company offers an embedded lending solution and enables payment providers and marketplaces to provide financing for their own SME customers (Fintech Futures).
• The founders of Silvr, a French SME lending company that also moved into partnerships, announced its shutdown (LinkedIn).
• The US Embedded Lending provider Pipe, which reduced its workforce last week, announced its first Australian customer, Live Payments, a leading payment solutions provider serving more than 10,000 small and medium-sized businesses (Fintech Finance News).
• Hotel chain Marriott announced the launch of new co-branded debit cards with Currensea for the UK market (Fintech Finance News).
• Matt Jones took a closer look at Apple Pay's success and included my Embedded Finance take as well (Payments Culture).

Thank you for reading. I hope you enjoyed this edition.

My newsletter, podcast, and event activities are free, but I need your support to continue. Please share Embedded Finance Review with your friends and coworkers, and let me know your feedback.

And if you need help understanding, building, or launching an embedded finance product, visit my website and get in touch.

Best wishes from Berlin,

Lars Markull (LinkedIn)