FinTech Daily News – Edition 148, 13.02.2018
February 13, 2018
FinTech Daily News – Edition 150, 15.02.2018
February 15, 2018

FinTech Daily News – Edition 149, 14.02.2018

FinTech Daily News

by Florin Oprea

Edition 149, 14.02.2018

New Beginnings In Global Financial Markets: Signal Of Crisis Or Maturity?

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?

Deals, Investments & M&As

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…

Fintech Group TruFin Raises $97m

Finextra

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.

InfluxData Scores $35 Million Series C To Expand Time Series Database Business

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.

Simplified Investing App Stash Raises $37.5 Million Series D As It Heads Into Banking

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…

Global Fintech Funding Holds Steady In 2017

Finextra

Singapore Hits Record US$229m Of Fintech Funding In 2017: KPMG

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 Set Up Sovereign Fund To Develop Fintech

Moneycontrol

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.

A Finnish Fintech Startup That Grew 200% Last Year Just Landed €6 Million To Take On Europe

Business Insider

Finnish fintech company Zervant, which provides online invoicing software for small business and entrepreneurs across Europe, has announced €6 million in funding.

Payments

Paytm Mall Takes Cues From Alibaba In Indian New Retail Experiment

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.

Lending

Forbes Fintech 50 2018: The Future Of Lending

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.

Fortress Balance Sheet: Goldman Sachs’ Online Lender Marcus Has Access To $17 Billion In Deposits

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.

Retail banking

Starling Bank Opens Marketplace Doors To FinTech Startups

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.

FinTech People

Via Business Wire – PCBB announces Shiva Sandy as Chief Technology Information Officer.

Accelerators & Hubs

City Of London To Showcase Strengths To European Fintech Firms

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…  

Everyone Hates Silicon Valley, Except Its Imitators

Erin Griffith

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.”

Microsoft Targets Australian Tech Start-Ups With ScaleUp Accelerator

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.

Events

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.

Opinion

Maybe It’s Time We Ditched Fintech & Open Banking For Something That Makes Sense To Consumers

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