FinTech Daily News – Soft launch Edition #15, 13.06.2017
June 13, 2017
FinTech Daily News – Soft launch Edition #17, 15.06.2017
June 15, 2017

FinTech Daily News – Soft launch Edition #16, 14.06.2017

FinTech Daily News

by Florin Oprea

Edition #16, 14.06.2017

Deals, Investments & M&As

Fundrise to Sell More Shares In Platform. Total Raise Expected To Top $24 Million

JD Alois – Crowdfund Insider

Online real estate investment platform Fundrise has filed a post-qualification amendment to their earlier offering statement under Reg A+ to sell more shares in the company. Back in the first quarter of 2017, Fundrise launched an initial public offering of shares in the company using Reg A+. The offer was highly successful ass the real estate platform reportedly raised over $14 million in under 24 hours. Fundrise appears to be be poised to raise additional capital with this newest filing that hit the SEC at the end of last week.

India: Online Insurance Platform Coverfox Raises $15m In Series C funding

Bhawna Gupta – Deal Street Asia

Mumbai-based online insurance distribution platform Coverfox has raised Rs 96 crore ($15 million) in Series C funding led by US insurer Transamerica, according to a report in The Economic Times citing sources. It is also in discussions with Fosun Kinzon Capital, the VC unit of Chinese conglomerate Fosun International, for raising additional $5-10 million, the report said


The ‘fake’ PayPal Emails That Are Tricking Brits Out Of Thousands – Warning Signs And How To Report It

Emma Mundodh – Mirror

A new wave of suspicious emails claiming to be from online payments platform PayPal are back in circulation, the UK’s security body has warned, and they can empty out your bank account in just seconds.

Action Fraud UK – the government’s cyber crime agency – has warned of a particularly high number of PayPal phishing emails that are landing in people’s inboxes, claiming to be from the electronic payments company.

Wealth & Personal Finance

Revolut Launches Business Accounts In U.K. And Europe

Steve O’Hear – Techcrunch

Revolut, the London fintech startup that offers a card and current account features, coupled with low currency exchange, is launching a new product aimed at businesses — upping the ante against competing services, such as TransferWise’s recently launched “Borderless account”.

Available in the U.K./Europe, the new Revolut offering enables companies to sign up for multi-currency accounts, where they’ll be able to hold and transfer money across 25 supported currencies at the interbank exchange rate, as well as doing things like issuing employees with corporate cards for “global fee-free spending”.

Revolut Expands Into Business Market

Neil Ainger – CNBC

Revolut, a financial technology (fintech) firm that offers foreign currency to consumers abroad at the interbank rate available on the financial markets is to expand into the business sector with claimed interest from large European corporations such as Virgin Atlantic.

Retail banking

SoFi Has Applied For A Bank Charter

Ryan Lawler – Techcrunch

In May, SoFi CEO Michael Cagney told TechCrunch the company would be applying for a bank charter “in the next month.” Well, it’s about a month later, and — surprise! — the company has actually done so.

FinTech People

Dash Financial Technologies On-Boards Industry Veteran Robert Boylan

Jeff Patterson – Finance Magnates

Multi-asset trading technology provider Dash Financial Technologies has announced its latest hire, this time bringing in hedge fund veteran Robert Boylan, who will join the group as its newest Managing Director, Business Development.

A Day In The Life Of… Product Director at Klarna

Ben Davis –  Econsultancy

Klarna works with retailers such as Topshop, handling customer payments and providing ‘pay over time’ and ‘pay after delivery’ services.

We caught up with Product Director Mat Perkins to find out more about his role.

Latest FinTech developments & agreements

Hong Kong And Australia Seal Agreement On Fintech Cooperation


The Hong Kong Securities and Futures Commission (‘the SFC’) and ASIC today signed a Co-operation Agreement which provides a framework for cooperation to support and understand financial innovation in each economy.

This Cooperation Agreement builds on the already close ties between ASIC and the SFC, as well as the Australia-Hong Kong trade and investment relationship more broadly.

Accelerators & Hubs

London’s Fintech Crown Tarnished By Political ‘Mess’

Yolanda Bobeldijk – Financial News (sub)

The startup community has expressed concerns about the implications of the general election uncertainty on fintech.

London-based fintech firms were disappointed by last week’s general election outcome, which did little to dispel the uncertainty threatening their efforts to preserve the city’s status as the global fintech capital.

London Leads European Fintech Investment Despite Brexit

Vivek Ahuja – Financial News (sub)

London-based fintech companies attracted more than three times as much capital in the first quarter as Berlin – Europe’s second largest fintech investment hub – and maintained its market share despite moves by other cities in the region to gain from the UK’s departure from the EU.

Top European Fintech Firms From The Six Biggest Investment Hubs

Growth Business

As cities around Europe compete to become the region’s most active fintech hub, half a dozen are successfully establishing themselves as the main destinations for investments. Here are the top fintech firms in the hottest European hubs.

FAO: Useful stats are out. Also read the “Other news” article.

Why India’s Fintech Startups Are Flocking To Disrupt The UAE

Sindhuja Balaji – Forbes

India’s technology startup ecosystem has grown exponentially in recent years and now appears to have caught the eye of startup enthusiasts in the UAE. The Middle East nation is keen to elevate disruptive Indian fintech startups by providing them an international platform and financial support.

NetApp Opens Startup Accelerator In Bengaluru

The Hindu

NetApp, a provider of hybrid cloud data services, has launched a startup accelerator initiative in Bengaluru. Through the four-month programme, called NetApp Excellerator, the company aims to share its unique perspective and experience around data with startups, and invest in solutions that will help enterprises through this era of digital transformation.

FAO: India is also stepping on the fintech pedal!

Associations & Federations

Hong Kong Report: Is Regional Rivalry Harming Fintech Development?

JD Alois – Crowdfund Insider

The Asia Securities Industry and Financial Markets Association (ASIFMA) is out with a report on the evolving Fintech sector and the authors are prodding regulators to work more closely together in a regional approach. ASIFMA is based in Hong Kong and while Hong Kong is a global financial center it has been a noted laggard in encouraging Fintech innovation being lapped repeatedly by its neighbor Singapore.  The ASIFMA report promotes best practices to encourage rapid development of financial innovation.

FAO: More coverage on the recent ASIFMA report.

Other news

French Fintech Under Macron’s Presidency One Month On

Madhvi Mavadiya  – Forbes

Many expected that when Emmanuel Macron was voted in as French president, there would be significant change in the fintech industry. Coming from a financial background, Macron was certainly the best presidential candidate for the expansion and development of the financial technology sector. I spoke with Managing Partner of French private equity firm and investor in European SMEs Idinvest Partners, Benoist Grossman, about how Paris tech is reacting since the election and in light of Brexit concerns.


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