by Florin Oprea
Addepar has acquired AltX, an intelligence platform for the alternative investments market.
The acquisition deepens Addepar’s capabilities in alternative investments – which comprise USD120 billion of the USD600-plus billion of assets on Addepar’s platform.
FAO: Last year Addepar had over 200 clients and $560 billion assets on its platform.
SoftBank will also get a board seat in Paytm after the investment, which was made into Paytm parent One97 Communications.
Tony Zerucha – Bankless Times
Global online payment service provider PayU has invested €110M (USD 123M) in Kreditech, a technology group for digital consumer credit that employs machine learning-based underwriting. The two companies will also partner to deliver a joint POS finance proposition.
Kreditech will provide its Lending as a Service technology to PayU’s 300,000-merchant network while PayU acquires a significant minority stake in Kreditech.
Synthesis provides software development, consulting and integration services to financial institutions, with current clients on its books including Investec, Absa, Standard Bank, Capitec and Nedbank.
Alex Konrad – Forbes
Before investing in a startup, Menlo Ventures runs the company’s stats through proprietary software that helps tell the venture capital firm if the business is growing on pace with rivals or keeping customers at an impressive rate. But for the firm’s new fourteenth fund, the partners tried something new: turning the software on themselves.
FAO: …one of the earliest venture capital firms in Silicon Valley.
Mugdha Variyar – Economic Times
Fintech startup PaySense, which runs a digital credit platform, has raised $5.3 million in its Series-A round, led by Jungle Ventures with Naspers Group and Nexus Venture Partners. The startup had earlier raised $2.3 million from Nexus Venture Partners and angel investors in 2015.
Bahrain’s EDB sets up office in Mumbai to accelerate its fintech development program.
Nathan Lustig – TechCrunch
Startups in Latin America are using creative solutions to address not just local but also global problems.
Eileen AJ Connelly – NY Post
The digital-payment company says Pandora’s big blue “P,” unveiled in October, damages its business because customers are mistakenly opening the wrong app on their phones.
Received an investment worth $3 million from Innovations East fund as part of its series-B funding round.
Telr, which is a payment gateway aggregator of multiple payment methods such as cards and online banking, has operations in West Asia, South East-Asia and India.
Jeremy Nobile – Crain’s Cleveland Business
Numerated Growth Technologies is a fintech startup spun out of Boston-based mutual Eastern Bank own in-house fintech accelerator, Eastern Labs.
Numerated’s platform focuses on small-dollar loans, allowing the loan process to be managed in real-time — reportedly conducting the process in as quick as five minutes, according to the firm.
Jonathan Nieh – Crowdfund Insider
StashAway is a software solution for individual investors to manage their investment portfolio. StashAway claims to utilize dozens of algorithms, automation, and an expert team of investors to create a tech-based investment management platform, what some in the industry have termed “robo-advisors”.
Frank Chaparro – Business Insider
While robo pioneers Betterment, Wealthfront and Nutmeg have been growing at a fast clip, it’s actually the legacy firms such as Vanguard and Charles Schwab that will drive growth in the robo-advice space moving forward, according to Morgan Stanley. Schwab already has close to $50 billion in robo assets, up from $4.2 billion in 2014.
JD Alois – Crowdfund Insider
Starta Accelerator is based in New York City and is an offshoot of Starta VC based in Moscow. The forthcoming Starta Initial Coin Offering (ICO) will allow individuals to make early stage investments into Eastern European tech companies that are participating in the accelerator program.
Jay Kim – Forbes
There are currently over 50 co-working spaces, accelerators, incubators and innovation labs in Hong Kong.
FAO: Happy to be part of the startup ecosystem.
Eileen Burbidge told WIRED Money how she expects London’s fintech scene to continue to grow over the next few years.
Laura Hamilton & Nick Freer – Scotsman
Scotland’s financial sector has a proud history and despite a tumultuous decade still stands relatively tall in UK and European terms.