by Florin Oprea
Mary Wisniewski – American Banker
KeyCorp has agreed to acquire HelloWallet, a personal financial management product it has offered its bank customers since 2015, from the investment research firm Morningstar. Financial terms of the deal were not disclosed.
FAO: 36 HelloWallet employees will continue to work for KeyCorp from Washington and Chicago.
John McDuling – AFR
Peter Thiel, and a venture firm backed by the Future Fund, are among a new group of investors in the millennial superannuation provider Spaceship.
Spaceship raised $19.5 million, on top of a $1.5 million seed round last year. US venture capital fund New Enterprise Associates, which counts the Future Fund among its investors, the regional office of Sequoia Capital, and Horizons Ventures, the start-up investment vehicle for Hong Kong billionaire Li-Ka Shing, all invested in the business.
NewAlpha Asset Management, an expert in investments targeting the entrepreneurial financial industry worldwide, launched the first French venture capital fund dedicated to Fintech companies in November 2015.
FAO: Vienna based wikifolio was founded by Andreas Kern. Other investors in the company in previous funding rounds include: Speedinvest and VHB Ventures.
Fred Raillard – Huffington Post
FAO: Alipay recently made some important steps that facilitate its US entry.
Yizhu Wang & Karen Padley – Forbes
Long overshadowed by their consumer counterparts, B2B payment firms are seeing greater interest from venture capital, private equity and strategic investors. Their target: financing solutions for both buyers and suppliers, as well as software tools that automate management of accounts receivable and accounts payable.
Oscar Williams-Grut – Business Insider
Indian financial services group Wadhawan Global Capital and European venture capital fund Northzone led the round, both investing in separate deals in recent months.
The investment means Zopa has raised over £80 million in equity funding to date. The company’s last funding round came in January 2014, when it raised £15 million.
FAO: One of the first peer-to-peer lending companies in the world and one of the first fintech firms. It announced its intention to apply for a banking license in November last year.
Ellen Huet – Bloomberg
John and Patrick Collison, the twenty-something founders, liked having a say in who got hired because they said it maintained consistency. They would each spend as much as 15 hours a week on job interviews, but finding time on their calendars was a frequent source of frustration for recruiters. A similar practice was made famous by Larry Page, who said he signed off on every Google hire after he returned as CEO in 2011. But the Collisons found the limit of this exercise in January, when they agreed to hand off the responsibility.
Stephanie Forshee – The National Law Journal
In a speech delivered May 17, Giancarlo stopped short of referring to the initiative, LabCFTC, as a regulatory sandbox because so far there is no intention of providing any regulatory relief for participating companies.
FAO: Makes reference to the innovation lab Christopher Giancarlo, CFTC acting chairman, announced last month.
Shona Ghosh – Business Insider
According to figures from VC firm Atomico, France had more investment than Germany last year.
VCs invested $2.7 billion (£2 billion) in France last year, compared with $2.1 billion (£1.6 billion) in Germany. The UK still leads European investment with $3.7 billion (£4.7 billion).
FAO: Interesting figures. We hope to gather sensible data very soon and publish a pertinent analysis.
Urban.Us, a venture capital firm whose focus area often overlaps with gov tech, is taking on the URBAN-X accelerator in New York.
The venture firm will lend funding and expertise to the relatively new accelerator.
Incubyte, the newest addition to the Cambridge science & technology hotspot, has opened its doors to innovative startup businesses and invited them to be part of an exciting new community in the cluster.
FAO: jv between Incubyte Ltd and Paragon Land & Estates.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News