FinTech Daily News – Edition 11, 18.07.2017
July 18, 2017
FinTech Daily News – Edition 13, 20.07.2017
July 20, 2017

FinTech Daily News – Edition 12, 19.07.2017

FinTech Daily News

by Florin Oprea

Edition 12, 19.07.2017

Deals, Investments & M&As

Mastercard Acquires Brighterion To Further Expand AI Capabilities

Pymnts

Mastercard announced it has entered into an agreement to acquire Brighterion, Inc., a leading software company that specializes in artificial intelligence (AI).

FAO: Mastercard steps into AI territory. A lot of interest was shown by fintech to AI lately, with Nordea introducing AI to analyse customer text queries and IBM rolling out ‘Cognitive Regtech’, to mention only a few.

EquityZen Raises $6.5 Million; Draper Associates Leads $3M Infusion

PR Newswire

FAO: The round was led by Draper Associates. Total funds raised in two rounds: $6.5 million. The company has worked with over 70 pre-IPO companies till now.

Form3 Closes $5m Series A

Yessi Bello  Perez – Tech City News

Form3, a cloud-based payment processor, has raised a $5m Series A from

FAO: Lead investors – Barclays and Angel Co-Fund. The company, led by CEO Michael Mueller, intends to expand its ops and team in Europe and North America.

Fintech Startup Collectly Secures $1.9 Million

NewsCenter

Collectly announced the close of $1.9 million in financing. Eight investors participated in the round: GoAhead Ventures, Lightspeed Venture Partners, Index Ventures, Worldview Technology Partners, IT-Farm, Granatus Ventures, Cabra.vc, and OnWave Ventures.

Lending

Ex-LendingClub CEO Laplanche Sees New Upgrade Venture Growing Loan Volumes

The New York Times

Online lender Upgrade, launched by former LendingCLub Corp CEO Renaud Laplanche in April, expects to grow its loan volumes and add new asset managers to its roster of buyers in coming months, Laplanche said in an interview on Monday.

FAO: Looks like Renaud Laplanche is back in the game. He resigned last year from Lending Club after an internal investigation that found he had violated the business practices of the company.

P2P Lender Bondora Reaches Profitability in 2017

JD Alois – Crowdfund Insider.

Bondora, a European peer to peer lender based in Estonia, has announced that it has become profitable during the first six months of 2017.

Bondora stated that it had generated a net profit of €300,00 during the first half of the year. The overall revenue target for 2017 is €7 million. Since platform launch, Bondora has issues over €98 million in loans with an average net return of 14.2%

FAO: Estonia based Bondora had a net profit of €300,00 in H1 2017. The 2017 revenue target is €7 million.

Wealth & Personal Finance

A New Fintech Startup Wants To Democratize Trust Funds

Maria Terekhova – Business Insider

App-only fintech Tomorrow says having a trust fund can help millennials guarantee their dependents’ financial security. It ims to show that trust funds aren’t just for the wealthy, and can be powerful inheritance management tools.

Retail banking

Why Brazilian Banking Could Be Seriously Impacted By Fintech

Emily Frost – International Banker

The country’s fintech scene is now booming, and according to the recent Goldman Sachs report “Fintech Brazil’s Moment”, its future growth will come at the expense of Brazil’s banking sector.

FAO: Similar to how things evolve in India. Read this interesting piece published in May during our soft launch.

FinTech People

Via PE Hub NetworkVenture firm Spark Capital has added Yasmin Razavi to its growth team in San Francisco

This Start-Up CEO Says She Was Harassed — And Now She’s Calling For A Mea Culpa From VCs

Anita Balakrishnan – CNBC

Jennifer Hyman, CEO of Rent the Runway, said she too has been harassed and threatened, and it’s time for venture capitalists to radically change the way they do business.

FAO: New harassment cases are admitted. More and more fuel to previously reported 500 Startups scandal.

Latest Developments & Agreements

SFA Launches Database For Fintech Startups In Singapore

Michael Tegos – Tech In Asia

The Singapore Fintech Association (SFA)’s database contains a short description of each company and information about its founding team, funding status, and business model.

FAO: Cool. But do you know what’s cooler ? Crunchbase, obviously…

Accelerators & Hubs

Paris And Frankfurt Team Up To Shut Out City

Katherine Griffiths, Oliver Wright – The Times

France and Germany have joined forces to exclude the UK from a €1 trillion financial market after Brexit.

UK’s City Envoy Defends London As A ‘European Asset’

Financial Times (subscription)

FAO: This (already has/) will have a deep impact in fintech too, obviously. Already discussed several times about London defending its top spot position in fintech in Europe and in the world. Difficult mission for both France and Germany. It’s a long term goal to break UK’s position. As reported in June, during our soft launch, UK leads the European VC investment in 2016 with $3.7 billion,  followed by France where VCs invested $2.7bln, and Germany with $2.1bln.

Citigroup Set To Relocate EU Base To Frankfurt

Deutsche Welle

US bank Citigroup is set to become the latest Wall Street bank to pick German financial hub Frankfurt as its European Union base this week in preparation for when Britain leaves the 28-nation bloc.

DNT: We already discussed that Frankfurt aims to become the main center in Europe’s bank operations. It looks like clear steps are being taken in this direction.

FAO: Send us your thoughts regarding Citigroup’s move.

Singapore-Based Accelerator AIRmaker Unveils Office In Taiwan

Rebecca Kuo, Adam Hwang – DIGITIMES

AIRmaker, a Singapore-based startup accelerator focusing on IoT (Internet of Things)-based health care and smart city sectors, on July 17 unveiled its operating base at Southern Taiwan Science Park (STSP).

Startupbootcamp FinTech Singapore Facilitates More Than 70 Pilots & Partnerships

Samantha Hurst – Crowdfund Insider

Startupbootcamp FinTech Singapore 2017 cohort of startups have secured more than 70 pilots, clients, and key partnerships, with hundreds more in the pipeline. This announcement comes just on the bank of the organization’s Demo Tour, which took place over the past two weeks and hosting four events across Asia in Singapore, Chengdu, Hong Kong and Tokyo.

Analysis

Alibaba Affiliate Ant Financial: World’s Largest Fintech Poised For More Growth

Seeking Alpha

Ant Financial’s Alipay still has room for growth in China driven by e-commerce and proximity mobile payments growth. Alipay’s overseas growth is driven by increasing numbers of Chinese tourists.

FAO: Ant Financial is buying MoneyGram International for $1.2 billion, more here.

 

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News