by Florin Oprea
Toronto-based alt lender Financeit says Goldman Sachs has taken a majority stake in the company though a second round of investment.
FAO: Financial terms of the deal were not disclosed. You can read the press release here. It was a busy year for fintech deals with quite a few global banks closing some very good ones. Check our FREE ARCHIVE!
Oh, and since we’re talking about a Canada fintech deal…
Barbara Shecter – Financial Post
The Competition Bureau spent months gathering information and consulting on financial technology to assess the impact of fintech in Canada.
Credit Suisse ramped up its fintech prowess with a 10% stake in data aggregation platform for the wealthy Canopy.
FAO: The Singapore-based company raised $3.4 million from investors including Credit Suisse and Lionrock Capital. Total funding raised by Canopy reaches almost $12.2m.
Li Yuan – Wall Street Journal
Over-the-top valuations, intense competition and greater uncertainty on returns have some talking of bubbles.
FAO: Yeahhh, part of this wild bunch is formed by Chinese online lenders already listed in the US. Check this list we composed last week (in Lending section).
Rachel Mui – Straits Times
Temasek-owned Fullerton Financial Holdings has teamed up with Canadia Investment Holding plc to launch DaraPay – a new digital wallet and payment platform, in Cambodia. This is Fullerton’s second investment in Cambodia after launching Cambodia Post Bank plc in 2013.
FAO: The rush for the unbanked… See why these Chinese titans are growing even bigger? Because they have “infinite” potential right in their “backyard”. Jack Ma’s Ant Financial launched a new mobile payment service in Philippines in October and Alipay arrived in Vietnam in November.
Josh Horwitz – Quartz
Google announced it will open a lab in Beijing dedicated to researching artificial intelligence.
The news comes as China’s government and tech companies race ahead to dominate the field, putting Google in a position where it has no choice but to set up locally in order to remain at the cutting edge.
FAO: Probably the hottest topic in fintech these days, right? Here’s what Tencent boss, Liu Zhiping, had to say about AI the other day.
Huw Jones – Reuters
Gibraltar’s financial services watchdog will introduce the world’s first bespoke license for “fintech” firms using blockchain distributed ledger technology from next month in a bid to attract start-ups to the British overseas territory as it prepares for Brexit.
FAO: Hip hip hooray…
The Central Bank of Bahrain (CBB) announced a partnership officially endorsing the launch of Bahrain FinTech Bay (BFB) and its fintech initiatives in Bahrain.
FAO: Interesting competition building up in the region with Dubai currently setting very high standards. Check our FREE ARCHIVE for more related content.
Nikkei Asian Review – Yusho Cho & Joyce Ho
As China moves closer to a cashless society, there are concerns that the government will use new financial rules to access customer data collected by Alibaba and rival Tencent Holdings, strengthening Beijing’s already heavy hand.
FAO: Now this is indeed a pain…
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News