FinTech Daily News – Edition 114, 14.12.2017
December 14, 2017
FinTech Daily News – Edition 116, 18.12.2017
December 18, 2017

FinTech Daily News – Edition 115, 15.12.2017

FinTech Daily News

by Florin Oprea

Edition 115, 15.12.2017

Deals, Investments & M&As

Goldman Sachs Takes Majority Stake In Alternative Lender Financeit

Financial Post

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…

Make Room For Fintech, Competition Bureau Urges Regulators, An ‘Important Sector Of The Canadian Economy’

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 Snaps Up Fintech Stake


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.

China’s Wild Bunch: Startup Investors Are Cashed-Up Cowboys

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).


Temasek Unit, Canadia To Launch Digital Wallet & Payment Platform In Cambodia

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.

Latest Developments & Agreements

Google Can’t Miss Out On China’s AI Boom—So It’s Opening A Research Lab There

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.


Gibraltar Launches Financial Services License For Blockchain

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…

Accelerators & Hubs

Central Bank of Bahrain Endorses Launch of Bahrain FinTech Bay


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.


Ant Financial Builds An Empire Of Services

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