by Florin Oprea
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.
Georgina Lee – SCMP
The microcredit lending platform controlled by tycoon Putera Sampoerna wants to take the business and the technology to the next stage.
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!
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.
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.
Berlin-based online SME lending platform Spotcap is diversifying its business model, offering its technology to other companies, beginning with Austrian banking group Bawag.
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.
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.
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.
Nathaniel Popper & Chad Bray – NY Times
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…
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