by Florin Oprea
ZhongAn Online Property and Casualty Insurance Co Ltd, China’s first internet-only insurer, has filed for an IPO in Hong Kong worth up to $1.5 billion.
Cromwell Schubarth – Silicon Valley Business Journal
Cloud security business Zscaler Inc. is reportedly interviewing potential underwriters for an IPO that could value it at about $2 billion.
Evelyn Cheng, Fred Imbert – CNBC
Bitcoin skeptic Mark Cuban is looking to take part in one of the hottest trends in the digital currency world right now: the initial coin offering (ICO).
One of the companies Cuban is invested in, Unikrn, is planning its own offering.
FAO: Unikrn is a Seattle based media and entertainment company focusing on eSports. It was founded by Rahul Sood (creator of VoodooPC, and Microsoft Ventures), and Karl Flores (co-founder of Pinion).
Swiss digital insurance broker Knip has agreed to merge with Komparu, a Dutch technology firm. Together they will operate as Digital Insurance Group (DIG).
Mark Melin – Value Walk
FAO: Makes ref. to The Fintech 250 from consulting firm CB Insights.
Cromwell Schubarth – Silicon Valley Business Journal
The first half of 2017 ended with a flurry of pre-Fourth of July fundings in which eight Bay Area startups raised $25 million or more.
FAO: Kinetica, San Francisco, $50 million, LogicBio Therapeutics, Foster City, $45 million, ChargePoint, Campbell, $43 million, Swift Navigation, San Francisco, $34 million, Science Exchange, Palo Alto, $28 million, Spruce Finance, San Francisco, $25 million, Abl , San Francisco, $7.5 million, Cabin, San Francisco, $3 million, LendUp, San Francisco, undisclosed amount.
Not all (pure) fintech but worth mentioning.
Mudit Mohilay – The Tech Portal
Android Inventor Andy Rubin’s VC firm Playground Ventures is raising another $15 million as part of its mission to back promising startups in areas like artificial intelligence and new generations of hardware. The firm has filed a form D with the SEC, which stipulates that it is raising a new tranche of $15 million.
Yessi Belo Perez – Tech City News
UK FinTech startup Revolut, which lets customers transfer, exchange and spend money using its multi-currency card, is reportedly close to raising more than £50m despite showing losses.
FAO: Round assumed to be lead by Index Ventures. Ribbit Capital also expected to take part in the fundraising.
Samantha Hurst – Crowdfund Insider
FAO: More details regarding PayPal’s strategic investment in LendUp (also mentioned in our first category “Deals, Investments & M&As”).
Oscar Williams-Grut – Business Insider
Deposit Solutions, A German fintech business backed by Peter Thiel is planning to launch in the UK.
FAO: ZinsPilot is the main platform developed by the company. The company is lead by Max von Bismarck, Chief Business Officer and MD.
Jeffrey Kutler- GARP
In the first of what is likely to be a continuing series of financial-services-oriented artificial intelligence applications, IBM has launched into what it calls the “cognitive era of regtech,” extending its work with the Watson platform into areas of risk and compliance management.
FAO: Our friend Jeff Kutler sent us the last piece he shared via Global Association of Risk Professionals (GARP). Best insight possible on IBM’s “Cognitive Regtech”.
Leigh Cuen – International Business Times
Brick-and-mortar banks are in desperate need of a makeover. They know it too. Capital One is opening Capital One Cafes in major cities across the U.S., with hip decor and more laidback consulting vibes than traditional branches.
FAO: Interesting piece. Useful figures.
The New York Times
A well-known Silicon Valley investor, Dave McClure, has been demoted within the firm he co-founded, 500 Startups, the latest fallout from revelations of mistreatment of women in the technology industry.
An internal investigation found McClure “had inappropriate interactions with women in the tech community,” according to a blog post published Friday by Christine Tsai, 500 Startups co-founder, who said the decision to demote him was made a few months ago.
Via Finews – re. Knip – Komparu merger – Roeland Werring, co-founder of Komparu, will be the Group CTO, while Ruben Troostwijk will stay on as CEO of Komparu. Ingo Weber was appointed as CEO of DIG. Weber used to be a MD at Swiss Re and GE Insurance.
Via Crowdfund Insider – Funding Circle expanded its U.S. leadership team by appointing Joanna Karger as U.S. Head of Capital Markets and Richard Stephenson as U.S. Chief Compliance Officer.
Via San Francisco Business Times – Prosper President Ron Suber stepped down.
France’s President Macron kicked off Station F, a new tech incubator. The incubator, which is the largest of its kind in the world, will help Paris evolve into the technology hub of Europe.
FAO: The race it’s definitely on. We had an interesting article during our soft launch – reported here. According to figures from Atomico (a VC firm) VCs invested $2.7 billion in France in 2016, compared with $2.1 billion in Germany. The UK is the leader in Europe with $3.7 billion in investments.
Tony Cheung, Raymond Cheng – South China Morning Post
Innovation and technological developments in Hong Kong will be boosted under an agreement on the Greater Bay Area project signed by local and mainland officials on Saturday and witnessed by Chinese President Xi Jinping.
FAO: Hong Kong is pushing very fast in fintech and blockchain. I see a growing competition between East and West, with Asia clearly having the upper hand in investments, speed of adoption, regulation and infrastructure development via its powerful hubs. What do you think? Please send me your opinion.
When Avijit Sarkar was planning to set up a fintech startup last year, he wanted to do it in the US so that he’d have access to a larger market. But, he soon realised that the incorporation expenses were high, and getting a visa could be difficult.
Via CoinDesk – The State of Digital Money, Los Angeles’ First Global Fintech & Blockchain conference – July 22, 2017 in Downtown L.A.’s Financial District at Cross Campus 800 Wilshire Boulevard, Los Angeles, CA 90017.
Mobile Payments Today
The Monetary Authority of Singapore and the Danish Financial Supervisory Authority have signed a fintech cooperation agreement which aims to help fintech companies in Singapore and Denmark to expand into each other’s markets, according to a press release.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News