by Florin Oprea
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.
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.
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.
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.
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.
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.
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.
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.
Via PE Hub Network – Venture firm Spark Capital has added Yasmin Razavi to its growth team in San Francisco
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.
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…
Katherine Griffiths, Oliver Wright – The Times
France and Germany have joined forces to exclude the UK from a €1 trillion financial market after Brexit.
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.
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.
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).
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.
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