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French competition authority launches probe into Meta’s online advertising dominance

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The French competition authority announced on Wednesday that it has formally notified Meta Platforms (META.O) of allegations that the company abused its dominant position in the online advertising market. The ongoing investigation, expected to last several months, does not imply immediate liability.

The probe was triggered by a complaint filed in October 2022 by Adloox, an advertising platform now owned by U.S.-based Scope3. In addition, French media giants such as TF1, France TV, and BFM TV are pursuing legal action against Meta over alleged unlawful business practices in the advertising sector.

Meta also faces a high-profile trial in Spain this October, where over 80 media companies have lodged a €551 million ($645 million) complaint accusing the firm of unfair competition in advertising.

Earlier this year, online rights groups filed complaints across Europe targeting Meta’s advertising practices. On the same day as the French announcement, EU antitrust regulators fined Meta and Apple for violations of European Union laws.

French Fintech Qonto Seeks Banking License to Expand Services and Reach 2 Million Clients by 2030

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French fintech company Qonto has applied for a banking license from France’s banking regulator, aiming to broaden its offerings beyond payment services to include lending, savings, and investment products. Founded in July 2017, Qonto currently serves over 600,000 small and medium-sized business customers across eight European markets such as France, Germany, Italy, and Spain.

Operating under a payment institution license, Qonto provides digital banking and financial management tools including invoicing, accounting, card payments, and wire transfers. The company’s goal is to grow its client base to 2 million by 2030.

Qonto has raised over 600 million euros ($705 million) from venture capital and angel investors. The firm has also strengthened its board with banking experts like former UniCredit CEO Jean-Pierre Mustier, who now serves as an independent board member.

A banking license would allow Qonto to develop partnerships and offer its pay-later services with greater autonomy, according to CEO and co-founder Alexandre Prot. This move comes as digital payments continue to grow in Europe, although at a slower pace, with cards still dominating payment values and mobile apps gaining traction.

Dutch Climate Tech Firm Dexter Energy Raises €23 Million to Boost AI-Driven Renewable Energy Services

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Dexter Energy, a climate technology company based in Amsterdam, announced on Wednesday that it has secured €23 million (approximately $27.1 million) in a recent funding round. The investment will support the expansion of its AI-powered services focused on renewable energy and battery trading.

The funding round, led by financial services firm Alantra, also included participation from notable investors such as France’s Mirova, ETF Partners, Newion, and Klima. These investors share Dexter Energy’s vision of AI as a critical infrastructure component for electricity grids increasingly reliant on renewable energy and storage solutions.

Founded in 2017, Dexter Energy uses artificial intelligence and data-driven models to optimize trading in power markets. Its advanced price forecasting tools integrate over a dozen external data sources, including weather forecasts and market information. According to the company, its AI-backed trading solutions can boost wholesale market revenues by up to 30% for renewable energy producers.

The injection of new capital will enable Dexter Energy to expand its services further within the Netherlands and across broader European markets, supporting the continent’s transition to cleaner energy sources amid volatile renewable markets.