by Florin Oprea
Florin oprea, Decebal Todarita and Jeff Kutler – Linkedin Pulse
We are now seeing a certain correlation between the financial markets and the crypto markets, with the large movements in the financial markets being followed by prices in the crypto markets. However, the rush to legalize this segment, the sustained effort of all US agencies, and the involvement of the US Treasury in this move, suggests that the action could be the result of an urgent request from capital markets players.
FAO: Have you read our opinion on last week’s market volatility and what this could mean for the future of the cryptoverse?
FAO: You can tell it’s Valentine’s Day just by reading today’s headlines – looks like investors’ love for fintech deals is in the air too…just read the deals below…
TruFin has raised £70m ($97m) through a listing on the LSE’s AIM market. TruFin was created through a series of acquisitions made over the last three years by a hedge fund called Arrowgrass, which was set up by former Deutsche Bank staffers.
Ron Miller – TechCrunch
InfluxData announced it has received a $35 million Series C investment led by Sapphire Ventures, the investment arm of enterprise software giant, SAP.
FAO: Total funding reaches almost $60m from four rounds.
Sarah Perez – TechCrunch
Stash announced it has raised an additional $37.5 million in Series D funding in a round led by Union Square Ventures. Existing investors Breyer Capital, Coatue Management, Entree Capital, Goodwater Capital and Valar Ventures also participated.
FAO: $116m raised (or should I say stashed?) in less the three years…
Navin Sregantan – Straits Times
Buoyed by a record $122.75m of funding in Q4, Singapore achieved a record high of $229.1m of fintech funding in 2017, according to KPMG’s Pulse of Fintech report.The high in fintech funding was mainly attributed to two of Asia’s 10 biggest deals – with a combined value of over $130 million – taking place in Singapore in Q4.
FAO: Asia, and especially Singapore, rocked the show in Q4 2017 fintech funding.
Mauritius plans to establish a sovereign fund to provide seed capital for development of fintech activities in the island nation. It is also considering incentives to attract fintech operations in the country.
Finnish fintech company Zervant, which provides online invoicing software for small business and entrepreneurs across Europe, has announced €6 million in funding.
Saritha Rai – Bloomberg (subscription)
Paytm Mall is opening a New Delhi store, taking a page out of backer Alibaba’s playbook in exploring ways to use physical retail to boost its online business.
Samantha Sharf – Forbes
Alternative lenders swooped in as big banks pulled back on making small business and personal loans in the wake of the financial crisis. As a result, the nine lenders on the Forbes Fintech 50 for 2018 are some of the largest and most established companies featured on the third edition.
FAO: And you could find enough stories regarding their development in our previous daily bulletins – check our FREE ARCHIVE.
JD Alois – Crowdfund Insider
During an investor presentation at the Credit Suisse 19th Annual Financial Services Forum in Key Biscayne, Florida, Goldman Sachs CEO Lloyd Blankfein delivered a presentation on his bank’s operations.Buried in the middle of the deck, was some interesting perspective on Marcus, Goldman’s foray into Fintech that is emerging as an online lending leader.
Tom Ball – CBR
The Starling Bank Marketplace is set to soon be joined by the first set of fintech startups as the challenger bank looks to provide contemporary and secure banking options.
Via Business Wire – PCBB announces Shiva Sandy as Chief Technology Information Officer.
Clare Dickinson – Financial News (subscription)
The City of London Corporation is hosting a delegation of nearly 50 fintech firms from across Europe in a bid to showcase London as an attractive place to do business. Companies from countries including Spain, Italy, Poland, Cyprus, Portugal and Ireland will travel to the capital for a series of seminars, presentations and networking events, according to a statement from the corporation.
DNT: London is struggling to stay on top of Fintech. Good. Only good can come from this. Read here, Associations & Federations section, how the UK is seeking to attract foreign fintech firms.
FAO: We didn’t get an invitation…It would have been an interesting experience…
Do not let their names fool you. The silicon places—Silicon Slopes, Silicon Prairie, Silicon Beach, Silicon Peach, Silicon Bayou, Silicon Shire, Silicon Desert, Silicon Holler, Silicon Hill and, separately, Silicon Hills—do not aspire to become “the next Silicon Valley.”
Paul Smith – The Australian Financial Review
US tech giant Microsoft will target the booming local technology start-up scene with the launch of a new accelerator program in Sydney, in what it described as a “huge vote of confidence” in the quality of emerging local companies.
Africa FinTech Summit August 16-17 2018 – Accra, Ghana – Agenda here
FAO: I am one of the speakers at the event, you can check the entire list of speakers here. Please note that I am building up my agenda for 2018 – if you want me as a speaker at your events better get in touch before my year gets uber busy – contact me here.
Lynsey Barber – City A.M.
Many of us now have a chatbot or app alert that tells us exactly how we’re spending our money – we don’t even have to make the effort to ask. It’s fintech, but it’s not.The term has been a useful one over the years, bubbling up at a time in 2014 when the digital revolution had yet to touch the realms of banking and financial services in any significant way.
Much like any portmanteau in technology (healthtech or agritech anyone?) it’s a signal of the newness of it all – when an industry previously reluctant to innovate and yet to be disrupted by technology, starts feeling the eyes of entrepreneurs all over it.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News