by Florin Oprea
Julie Verhage – Bloomberg (subscription)
SoftBank is betting that technology can overhaul the home insurance industry by leading a $120 million round in Lemonade Inc.
FAO: SoftBank had just “one more for the road”, deal that is. It was a fantastic “year deals” for SoftBank. Wonder if they even go on winter holidays?
Annie Palme – The Street
The next wave in Silicon Valley’s path of disruption could upend the way start-ups raise money from investors, and some VC’s are starting to get with the program.
FAO: Read Blockchain Daily News – the best way to find out more about ICOs and to check this year’s amazing ICO funding rounds.
Corinne Abrams – The Wall Street Journal (subscription)
Fintech startups including WorldRemit, TransferWise and Remitly are pulling ahead of the pack of the dozens of companies trying to disrupt the remittance industry, using the latest technology to send money internationally.
FAO: Guess whose business are these companies eating? Bank of England recently advised UK bankers that they should take the fintech threat more seriously? Check this FDN edition here for more details.
Mugdha Variyar – The Economic Times
Amazon is looking to expand its footprint in the fintech space and is in talks to invest in Indian digital lending startup Capital Float. The company, which has so far focused on small businesses, is also set to start consumer financing on Amazon’s platform, apart from the ecommerce seller financing it already does.
FAO: The battle for India. Note that “everybody in fintech” targets India these days. Stripe brought its payments platform (reported here), Paypal announced the launch of domestic operations in India last month, and local firm Paytm (backed by Alibaba) has big development plans – here.
Bhawna Gupta – Deal Street Asia
International Finance Corporation is considering an investment of up to $10 million in India’s online insurance broker Coverfox. The funding will help Coverfox grow its B2C online brokerage business and B2B2C business.
FAO: Coverfox raised $15 million in a Series C funding round last June. It was led by US insurer Transamerica. The Indians were reportedly in discussions with Fosun Kinzon Capital for raising additional $5-10 million, so I presume IFC will provide the amount instead…
Over a million consumers believe banks send money overseas as a free service.
New research from online peer-to-peer money transfer provider TransferWise reveals just how little Australians understand about the costs involved with sending money abroad. Considering one in three Australians has sent money overseas the level of understanding, or lack thereof, is worrying.
FAO: Free service? Yeah and money grows on trees… Oh boy, I presume they don’t check their bank account balances either…
Dan Butcher – Efinancialcareers
If you move from banking to fintech, then you can grow a beard and loosen that tie.
FAO: That’s more than enough for me….as you know I recently moved from a bank to start my own fintech & investment advisory company, besides from publishing these two daily newsletters… Here my Linkedin profile.
Milda Seputyte – Bloomberg (subscription)
Lithuania reckons it can issue a license more quickly than anyone else in the European Union.
FAO: Interesting developments in the Baltics. Oh, if you want even more proof to believe there will be life after Brexit, here’s another interesting article about Lithuania, published earlier this month. (here – Accelerators and Hubs Section)
Brad Olesen – Bloomberg (subscription)
Evelyn Cheng – CNBC
In one of the most speculative stock moves around the bitcoin mania, the tiny stock of a former fruit juice company briefly soared more than 200 percent. Future FinTech has a market value of just $12.5 million according to FactSet. The stock closed up 64 percent at $3 a share.
FAO: Better keep an eye out. There’s an old proverb for things like the one above: “All that glitters is not gold.”
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News