by Florin Oprea
FinLeap, the startup platform behind Germany’s solarisBank, has secured EUR39 million in equity capital to support its ongoing fintech incubation programme.
Next to the founding shareholder Berlin-based HitFox-Group, new institutional investors include the German insurer Signal Iduna, Japan’s SBI Group and Dutch bank NIBC. Hannover Re, the third largest worldwide reinsurer, also raised its stake having participated in the platform’s last EUR21 million raise.
FAO: Hannover Re raised its stake. New investors Signal Iduna, SBI Group and NIBC. HitFox-Group is a founding shareholder.
Pan Yue – China Money Network
Korea Investment Partners has led a series A round worth tens of million USD in Meixin Global, a New York and Beijing-based start-up providing cross-border wealth management platforms for high-net-worth individuals.
FAO: The total amount raised was not disclosed.
Celia Chen – South China Morning Post
First Eastern Investment Group, a Hong Kong-based private equity and venture capital firm, is betting big on the future of financial technology in China.
FAO: Since Asia is the global leader in fintech adoption and China in top spot, I don’t necessarily think “betting” is the right term to be used in this context. I am sure First Eastern did its homework before starting investments.
Priyanka Pani – The Hindu Business Line
YES Bank, which runs a start-up accelerator programme called Yes Fintech, is looking at exclusive global exchange programme partnerships to help Indian start-ups gain access to developed markets in terms of business and investments.
FAO: YES Bank has a partnership with the Malaysian government and is also looking for new partnerships with the US, Sweden, Norway, Singapore, the UK and Israel.
Malavika Velayanikal – Business Standard
India is on track for a record level of funding this year. It comes after a steep fall in 2016 as the market went into correction mode from the 2015 boom. But even in the midst of the trough in 2016, deal activity saw no letup, with 965 deals in all in 2016, compared to 881 in 2015.
Paul Mozur – The Economic Times
There is an audacious economic experiment happening in China. It has to do with cash — specifically, how China is systematically and rapidly doing away with paper money and coins.
Almost everyone in major Chinese cities is using a smartphone to pay for just about everything.
Via Insider – P2P lender Assetz Capital has appointed former Bank of Scotland relationship director Ian Craig as a regional relationship director in Scotland.
Enoch Yiu – South China Morning Post
China’s second-largest peer-to-peer lending platform, founded by the Ping An Group, has been granted a licence to operate in Singapore, giving the city a leg up in its competition against Hong Kong in attracting investments to nurture fintech and innovation.
FAO: Nice move! Let’s see the next one…
Greg Isaacson – Mingtiandi
Naked Hub, the Shanghai-based co-working startup, has just landed in Hong Kong, unveiling its first centre outside the mainland in the city’s Sheung Wan area.
The South Korean conglomerate has chosen Berlin over London as the location for its startup hub, Samsung Next. The city’s affordability and reputation as a center of tech were factors in the decision.
FAO: Berlin “bags” a new startup hub. London is clearly facing higher pressure from its European competitors: Paris, Frankfurt, Berlin etc.
Daniel Lanyon – Alt Fi Credit
Research from Fintech Global suggests 2017 is set to be a record year for fintech firms in the UK thanks in part to Zopa.
FAO: UK has its top spot secured for the time being but on the long run things don’t look so rosy. What do you think? Please share your thoughts here. I will share your opinion with our readers if pertinent.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News