FinTech Daily News – Edition 133, 23.01.2018
January 23, 2018
FinTech Daily News – Edition 135, 25.01.2018
January 25, 2018

FinTech Daily News – Edition 134, 24.01.2018

FinTech Daily News

by Florin Oprea

Edition 134, 24.01.2018

Deals, Investments & M&As

Japan’s Orix Invests $60m In Chinese P2P Lender Dianrong

Taiga Uranaka & Kane Wu – Reuters

Orix Corp has invested $60 million in peer-to-peer lending platform Dianrong, in what is the Japanese financial firm’s first investment in a Chinese fintech venture as it looks to tap into the fast-expanding sector.

FAO: Dianrong recently announced its plans for 2018 IPO, which could help it raise at least $500m. More here.

Indonesian Fintech Start-Up Mekar Eyes Potential VC Funding

Georgina Lee – SCMP

The microcredit lending platform controlled by tycoon Putera Sampoerna wants to take the business and the technology to the next stage.

Russian Tech Investors Set Up Shop In Silicon Valley

Heather Somerville – Reuters

Masha Drokova, a 28-year-old Russian political activist turned venture capitalist, on Tuesday joined a small family of Russian nationals who have set up shop as Silicon Valley venture investors.

FAO: Beware! The Russians are coming! And they mean business!

Payments

Paytm Valuation Pegged At $10B After Secondary Share Sale

Shrutika Verma – Livemint

Paytm’s secondary share sale is expected to be in the range of $50-70 million; one of the new investors coming in is Discovery Capital.k

FAO: To put it simply: Paytm is taking off! The Indian firm was valued at about $7B in May 2017 when it raised $1.4 billion from SoftBank.

How Adyen Became a $2.3bn Payments Company

Trevor Clawson – Forbes

VCs poured around $8bn into fintech startups and early stage companies across Europe between 2010 and 2017 and over the course of that period, deal sizes rose significantly.

FAO: So perfect timing was also among the influencing factors.

Lending

Spotcap Introduces Lending-As-A-Service

Finextra

Berlin-based online SME lending platform Spotcap is diversifying its business model, offering its technology to other companies, beginning with Austrian banking group Bawag.

Data and Analytics

Another Short-Lived, Overfunded Startup Is Shutting Down: Primary Data

Connie Loizos – TechCrunch

Primary Data, a four-year-old, Los Gatos, Calif.-based data virtualization startup, is in the process of shutting down after raising a whopping $100 million in equity and debt and attracting the likes of Apple co-founder Steve Wozniak to its management team.

FAO: Oh boy, this is hilarious. BTW, this brings me to all those so easily financed ICOs, which raised about $6.8 billion in 2017. Read Blockchain Daily News.

Artificial Intelligence

China AI Firm Yitu Opens Singapore Office, Plans To Hire 50-60 Researchers

Janice Heng – Straits Times

The firm’s research and development centre will be set up later, and Yitu’s target is for 90 per cent of the staff there to be local hires.

Retail banking

Transferwise Is Quickly Becoming a Global Bank (Minus the Stupid Fees)

Crowdfund Insider – JD Alois

Transferwise is rolling out their glowing green debit card that provides access to 28 currencies, enabling users to spend around the world with the real exchange rate. Not the exchange rate most users get hit with today when they use their traditional bank debit card. You know. The one that lives in an alternative universe where you end up getting hit with perhaps 100s of basis points of fees and the customer disservice that comes with the privilege of doing business with a company that takes your business for granted.

FAO: TransferWise announced its borderless current account earlier this month.

FinTech People

Senior Twitter Executive to Run Troubled Finance Start-Up SoFi

Nathaniel Popper & Chad Bray – NY Times

Twitter’s No. 2 Resigns to Become Chief Executive of SoFi

Julie Verhage, Selina Wang & Sonali Basak – Bloomberg

Noto joined Twitter in 2014 after a career on Wall Street. SoFi has been searching for a new leader since September.

FAO: Ta-daaaa. As rumoured earlier this week, it finally happened. I guess Noto just couldn’t say NO TO the offer. Sorry, I couldn’t resist that…

Accelerators & Hubs

Ministry To Turn Bangkok Into Start-Up Hub

Bangkok Post

Science and Technology Minister Suvit Maesincee said on Monday the ministry is working with public and private agencies to attract science and innovation start-ups to the city.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News