FinTech Daily News – Edition 99, 21.11.2017
November 21, 2017
FinTech Daily News – Edition 101, 23.11.2017
November 23, 2017

FinTech Daily News – Edition 100, 22.11.2017

FinTech Daily News

by Florin Oprea

Edition 100, 22.11.2017

Ladies and gentlemen, we are proud to present you our 100 Edition! 

Here, you can watch an anniversary message from Florin Adrian Oprea, Editor-in-chief FinTech Daily News

Deals, Investments & M&As

Atom Bank Seeks Capital To Grow Mortgage Market Share

Damian Fantato –  FT Adviser

Digital Challenger Atom Bank Is Seeking To Raise Millions More Funding From New And Existing Investors

Lynsey Barber – City A.M.

UK’s top digital challenger banks, Atom, is gearing up to raise fresh funding from investors as it eyes £1bn of deposit holdings. The app-only bank, has already raised more than £200m to date.

DNT: Ambitious plans! Atom seems tireless in trying to bring breathing new life into banking. Check our Archive for more stories related to the UK top neo-bank.

Payments

Sellers Can Now Invoice Buyers Through PayPal’s New Chat Extension For Messenger

Sarah Perez – TechCrunch

PayPal and Facebook are expanding their integrations with the launch of an extension for Messenger that allows PayPal sellers to invoice buyers directly through private messaging. The feature is ideal for use with Facebook’s numerous Buy and Sell groups as well as Facebook Marketplace, in addition to being an easy way to send PayPal invoices in general.

DNT: Last month, PayPal and Facebook announced they are implementing PayPal into P2P payments on Messenger and PayPal also launched a customer service for Messenger. Check our Archive for other payments features stories. We had quite a lot updates in the last time.

5 Questions With AvidXchange CEO, After Fintech Firm Makes New Acquisition

Jenna Martin  – Charlotte Business Journal

AvidXchange CEO and co-founder Michael Praeger spoke Monday to the Charlotte Business Journal about his company’s most recent acquisition as well as future growth plans in the year ahead.

DNT: AvidXchange is valued at $1.4 billion, details – here, Payments section.

Lending

US Law Firm Launches Investigation Into Star Chinese Payday Loan Lender Qudian

Xie Yu, Jane Li – South China Morning Post

Qudian could be facing a rash of class-action lawsuits in the US after its share price tumbled drastically on the New York Stock Exchange, triggering concerns over the integrity of the firm.

DNT: The side effects of China regulatory tightening are appearing. Qudian is backed by Alibaba Group and and it succeeded In October to raise US$900 million – the largest IPO in the US by a Chinese company, reported here, Deals, Investments & M&As section.

Below, a related story.

Chinese Micro-Lenders Are Plunging On US Exchanges After New Regulations At Home

Sara Salinas – CNBC

Two recent Chinese IPOs are plunging on U.S. exchanges following news that the Chinese government is eyeing greater regulation in the microlending industry.

Cleveland Fed Report Comparing P2P Lending To Subprime Mortgages Removed For Revision

Finextra

A FED Bank of Cleveland report which compared the peer-to-peer lending industry to the subprime mortgage market has been temporarily taken offline after questions were raised about the underlying data set.

Business tech

Xero Takes Huge Step On US Payroll

Steve Brooks – Enterprise Times

Xero has announced another significant step towards full payroll compliance for is US client base. It is delivering support for draft previews of W-2 and 944 forms using live data.

DNT: Recently, Xero announced the NZX delisting and its shifting to ASX.

Wealth & Personal Finance

Nutmeg Assets Hit £1bn As Clients Double

Damian Fantato – FT Adviser

Nutmeg has nearly doubled its assets under management over the past year, taking the amount it manages past £1bn.The fintech company has also more than doubled its number of customers to 48,700 as well as increasing its assets by 93%

Data and Analytics

Scalyr Scores $20M Series A For Super-Fast Log Reading Tool  

Ron Miller – TechCrunch  

The company announced a $20 million investment led by Shasta Ventures with participation from previous investors Bloomberg Beta, Susa Ventures and Heroic Ventures.  

Retail banking

Monzo’s Tom Blomfield Announces Upcoming Crowdfunding Round

Samantha Hurst – Crowdfund Insider

After securing £71 million during its latest investment round, Co-Founder and CEO of challenger bank Monzo, Tom Blomfield revealed plans to launch a new crowdfunding campaign.

DNT: Tom Blomfield, is “The Coolest Man In Fintech” as it’s said in a recent story covered here. The declared mission of Monzo:  building a bank as smart as your phone – seems fully achievable. After the latest  investment round – details here, the company’s total funding reached £106 million ($140 million) and the London-based startup value is  £280 million ($366 million).

FinTech People

Via Business Wire – Ripple Appoints Former New York State Superintendent of Financial Services Benjamin Lawsky to Its Board and former CFO of TubeMogul, Ron Will, as CFO.

DNT: According to the company, they will play central roles in Ripple’s mission to achieve frictionless cross-border payments.

Accelerators & Hubs

Jason Hsu, Member of Parliament, Wants To Turn Taiwan Into Fintech Hub, Seeks Robust ICO Market

JD Alois – Crowdfund Insider

Member of Taiwan Parliament Jason Hsu is on a mission to turn Taiwan into a Fintech hub. This includes the development of a robust Initial Coin Offering market

DNT: This initiative is in total opposition with other asian countries policy like China and South Korea which banned ICOs. However, it’s a good sign that ICOs are still being seen like an opportunity not a threat…Pay a visit to our Blockchain Daily News website and check our Crypto-Teams BDN Global Outlook (last update here). If this initiative will materialize, Taiwan has all the chances to be included in the our Pro Cryptos Team.

UK Remains A Hot Fintech Hub Despite Brexit Woes

Noor Nanji – The National

Despite jitters caused by the Brexit vote, fintech start-ups in the UK are still attracting huge investment from around the world.

Events

Disrupt Berlin 2017. 4-5 December 2017 – details here via TechCrunch

Analysis

How Fintech Companies Are Disrupting The Capital Markets Space

Finextra

DNT: An analysis of the digital revolution and the ways it disrupts the capital markets industry.

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News