by Florin Oprea
Olivia Zaleski & Jeremy Kahn – Bloomberg (subscription)
Iconiq Capital founder & CEO Mark Zuckerberg and other tech billionaires, is putting $30 million into Collibra, a software company that helps large institutions manage their data. The investment is part of a $58 million round of capital that included Battery Ventures, Index Ventures and Dawn Capital. A year ago, Collibra raised about $50 million from the same investors.
FAO: Total funding in the NY-based company reaches almost $145m.
Carmen Triola – ROI
Growth equity investment firm Edison Partners has invested $15 million into MoneyLion, a digital personal finance platform based in New York City. Its contribution will be the largest in a total $42 million growth investment in the company, which will be spent to broaden its product line, seemingly targeted at a more middle-class client base.
John Detrixhe – Quartz
A year-and-a-half since Britain voted to leave the European Union and Jeremy Sosabowski, co-founder of AlgoDynamix, says the technology scene remains solid: There’s plenty of money out there for entrepreneurs and little sign that it will dry up anytime soon.
It looks very robust,” said Sosabowski, whose company provides risk forecasting for financial markets. “It’s almost worryingly robust.”
DNT: Intriguing concept this “worryingly robust”…After a strong growth it might appear the flip side of the coin but for now the figures speak the truth: last year, UK fintech companies raised $7.7 billion, as we are informed. This is more than double compared to 2016. So London is still in the game!
FAO: Let’s discuss these figures in 2-4 years from now…It’s a bit early to analyze anything.
Jonathan Browning – Bloomberg (subscription)
If anything, the new year has simply underlined the challenges facing Chinese dealmakers. The first week of 2018 saw two high-profile overseas acquisitions collapse, highlighting the completion risk that foreign sellers must grapple with when dealing with a Chinese buyer.
FAO: Discusses also Ant Financial abandoning its $1.2 billion purchase of MoneyGram International – reported in our Winter Holidays News Round-Up.
Cheang Ming – CNBC
Last year saw multiple Chinese fintech firms launched IPOs in the U.S. But increased competition in the space doesn’t suggest the sector is overcrowded, according to David Ye, the co-founder and CEO of Jianpu Technology. “Keep in mind: The market is huge … The growth has just started,” Ye said.
FAO: Oh yeah!! Ye’s right! 16 Chinese companies raised $3.7 billion in 2017. That’s 8% of the total $35.6 billion raised by 160 IPOs in NY.
BTW, check this scorecard of some of the biggest Chinese companies listed in US markets:
Alyssa Abkowitz – Fox Business
China’s powerful internet titans are suddenly on the defensive amid concerns that the data they gather is compromising consumer privacy. Search engine Baidu is the most-recent company to come under the spotlight, joining Alibaba Group affiliate Ant Financial and Tencent Holdings, following claims by a provincial consumer group that Baidu illegally obtained users’ personal information.
Jessi Hempel – Wired
150 of tech’s most gifted engineers traveled to an Arizona resort to spend three days at an event that, despite having never happened before, is called Reunion. The group ranged from the semi-famous, like PayPal founder Max Levchin and Microsoft chief technology officer Kevin Scott, to the spectacularly promising, like Stanford junior Nancy Xu.
FAO: Hmmm, Arizona, Reunion, social club – even if there’s no relation, there is another article just popping into my head – check Emily Chang’s piece in Vanity Fair, we had it in our Winter Holidays News Round-Up.
Dan Butcher – Efinancialcareers
A banking to the buy side to fintech career path – or just banking to fintech – is becoming as common as the tried-and-true banking-to-the-buy-side move.
Robert Anderson – Gulf Business
Abu Dhabi Global Market, the UAE capital’s financial free zone and Bahrain Economic Development Board have signed a fintech cooperation deal with the aim of attracting investment. The agreement, described as a first in the Middle East and North Africa region, will see the two promote economic growth in financial services.
Press release here.
FAO: Nice looking competition building up in the Middle East, where Dubai is currently leading the fintech revolution.
Accenture FinTech accelerator program shortlist start-ups to focus on regulatory compliance with help from banks and insurers RegTechs, and Fintech start-ups will join Accenture’s sixth FinTech Innovation Lab in London to offer technology solutions for regulatory challenges in their own dedicated stream for the first time.
Pete Martin – Forbes
The latest craze when it comes to raising funds for early-stage tech companies is through ICOs, also known as token sales. In 2017 alone, $3 billion was raised through this method, two times the amount of early-stage capital raised through venture capitalists. So as a source of capital, it’s impossible to ignore for an early-stage tech company. But is it a scam or a legitimate source of capital-raising?
FAO: Better start reading Blockchain Daily News if you are eager to learn more about blockchain, cryptos, ICOs etc.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News