by Florin Oprea
Noor Zainab Hussain – Business Insider
Britain’s CYBG said its was focusing its 350 million pound ($463 million) investment budget on digital banking services, helping it get ready for the so-called open banking revolution and compete with the country’s “Big Five” lenders.
Yang Yang – China Daily
Qudian Inc, an online small consumer credit provider in China, plans to repurchase within the next 12 months up to $100 million worth of its outstanding American depositary shares representing its Class A ordinary shares, the company announced.
DNT: We reported yesterday in Lending section that Qudian is in danger to face a series of lawsuits as a result of the concerns over the integrity of the firm.
Lucy White – City A.M.
Startup investor Seedcamp, which has been an early stage investor in businesses such as fintech unicorn Transferwise and digital bank Revolut, announced it has raised a £41m new fund.The firm’s fourth fund is more than twice the size of its last and may still raise more money before a final close, and aims to invest in 100 startups across Europe.
Samantha Hurst – Crowdfund Insider
Dutch private equity firm Robeco announced it has launched the Robeco Global Fintech Equities Fund, which invests in stocks of listed companies that benefit from increasing digitization of the financial sector. Robeco claims it is one of the first asset managers to launch an actively managed fund that only invests in listed fintech companies and which is available to wholesale/retail investors.
Jaime Toplin – Business Insider
PayPal expanded its partnership with e-commerce platform BigCommerce.The deal, which expands upon a 2013 Braintree-centric partnership, will give BigCommerce merchants improved access to three PayPal services:
DNT: PayPal has quite a busy team: lot of partnerships and developments lately. Check our free Archive and search them.
Aliya Ram – Financial Times (subscription)
WeChat, the popular Chinese messaging app owned by technology group Tencent, launched its payment service, WeChat Pay, in the UK. The messaging service’s payments app targets Chinese shoppers abroad
Paytm has picked up a stake in Mumbai-based fintech startup CreditMate. As part of the deal, Paytm will leverage CreditMate’s proprietary credit and asset valuation technology and loan management system. Paytm is also creating a loan management system for its customers.
Dakin Campbell, Julie Verhage – Bloomberg (subscription)
As Goldman Sachs lends more money to Main Street, one question won’t go away: How many borrowers will pay them back?
The bank is counting on its consumer push to deliver $1 billion in revenue growth over the next three years. While the firm looks to attract borrowers with better credit than many rivals, others think it may be underestimating the risks of a business where it’s the upstar
Marc Shoffman – P2P Finance News
More than half of small business owners want the UK to join the European Free Trade Agreement (EFTA) once Brexit is complete, Funding Circle research has found.
Companies in fintech, transport tech and health tech sectors have the most to gain with advances in technology and the rise of the on-demand workforce, said an industry expert.
Fidor, the innovative provider of digital banking solutions that helps banks launch and run their own digital brand, puts its expansion strategy into action through its newest office extension in Dubai Silicon Oasis, the integrated free zone technology park.
Bryan Yurcan – American Banker
A de rigueur feature for every bank now is to offer an innovation lab. A big part of that is an effort to woo potential fintech “unicorns” as banking clients.
“It’s always been a competitive market and now it’s becoming even more so,” Bob Blee, the head of corporate finance for Silicon Valley Bank, said of marketing efforts aimed at startups with high estimated valuations.
LongFin Corp., a Global Fintech company providing Finance and FX hedging solutions to importers/exporters and SMEs powered by Artificial Intelligence (AI) and Machine Learning, is offering Class A Shares of its common stock at $5.00 per share.
JD Alois – Crowdfund Insider
Katipult, a Fintech company based in Vancouver, British Columbia, is now a public company. Katipult has listed its shares under ticker symbol FUND on the TSVX .
Penny Crosman – American Banker
DNT: If you want to find out how a 200-year-old bank can act like a startup, read this interview with Vanessa Colella, Citi’s chief innovation officer, who is also head of Citi Ventures and runs the D10X program.
Via Financial News (subscription) – Andrew Morris, the global head of compliance at Fidelity International has parted company to pursue interests outside of the industry
Emily Feng – Financial Times (subscription)
China has halted all approvals for new online lending companies, sending a chill through the country’s fast-growing fintech sector, which has produced some of the biggest and most well subscribed offshore listings this year. The regulations came from a new state body set up to regulate internet finance. The rules also forbid fresh approvals of offline microlending companies that lend across provinces.
DNT: There are hard times for chinese fintech…
Fintechs as they’ve become known, are dominating the Australian startup sector with Sydney their hub of choice, a new report shows
Tom Metcalf – Bloomberg (subscription)
Billionaire Peter Thiel, an early investor in Facebook Inc., sold 73 percent of his stake in the social-media company.
Thiel, a member of Facebook’s board, sold 160,805 shares for $29 million,. The transactions are the latest in a series of sales in recent years that have left Thiel with 59,913 shares valued at $11 million.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News