FinTech Daily News – Edition 163, 06.03.2018
March 6, 2018
FinTech Daily News – Edition 165, 08.03.2018
March 8, 2018

FinTech Daily News – Edition 164, 07.03.2018

Deals & Investments

Ex-Thomson Reuters Chief’s FinTech Startup Raises $20 million

Hayley McDowell  The Trade News

FinTech startup Capitolis, co-founded by the former CEO of Thomson Reuters, has raised $20 million in funding. The fintech firm’s second funding round was led by Index Ventures, while the first round was led by Sequoia Capital and generated $9 million in funding.

FAO: Press release here via MondoVisione. Total funding reaches almost $31m in Capitolis, a company founded last year by Gil Mandelzis (former CEO of EBS BrokerTec), Igor Teleshevsky (former head of technology at Traiana), and Tom Glocer (former CEO of Thomson Reuters).

Future Stars?

Jeff Bezos Has Been Hanging Out With Jamie Dimon So Amazon Is Going To Be A Bank Now


Do you think your business is safe from Jeff Bezos? Well guess what? Your business is not safe from Jeff Bezos.

FAO: This intro text above just made my day…Muhaha…

Amazon Could Become The Third-Biggest US Bank If It Wants To: Bain Study

Thomas Franck – CNBC

Amazon could rival the nation’s big banks in as few as five years, capitalizing off its digital prowess and massive consumer base, according to a Bain & Company report.

“We could imagine Amazon’s banking services growing to more than 70 million U.S. consumer relationships over the next five years or so — the same as Wells Fargo, the third-largest bank in the US.,” wrote Bain’s Gerard du Toit and Aaron Cheris.

DNT: As we reported in yesterday’s edition Future Stars section, the e-commerce giant is already in negotiations with big financial names like J. P. Morgan in order implement a checking-account-like product especially built for younger customers.

FAO: And the future could look even scarier for some banks/businesses if you consider the possibility of an Amazon-coin (more here in this recent edition of Blockchain Daily News)

Business tech

Romanian Firm Emerges As Leader In Automating Business Tasks

Eric Auchard – Reuters

Romanian software firm UiPath has raised $153 million in new venture financing, marking both the company’s rapid ascent as a leader in automating routine business tasks and the emergence of Central and Eastern Europe as a global entrepreneurial hub.

DNT: So, the official announcement of the Romanian firm about its Series B round shows a better result compared to previously reports based on sources ($120m), details here Artificial Intelligence section. Pretty impressive!

FAO: And this is at the same time a strong endorsement for the CEE region. We have mentioned the region’s huge IT talent pool in several previous editions – feel free to use our FREE ARCHIVE. If you need more information regarding this region and its immense potential please contact us here.

Cap Markets & Other

Virtru’s New API Brings Encryption Tech Built By Ex-NSA Engineer To Third-Party Developers

Ron Miller – TechCrunch

The company has been delivering encryption products for email and files in transit for several years now, mainly through a partnership with Google GMail and Microsoft Office 365 and it announced it was opening up that technology to third party developers through the Virtru Data Protection Platform.

FinTech People

Xero Boss Rod Drury To Step Down, Steve Vamos Named As New CEO


Xero founder Rod Drury is stepping down after 12 years as CEO of the accounting software firm. He will be replaced by Fletcher Building director Steve Vamos from next month, the Board of Xero Limited has announced.

FAO: After his mission, to build a successful business, and then to switch stock exchanges (from NZX to ASX) Drury will continue as a NED with a focus on innovation and strategy. Congrats to them both!

Latest Developments & Agreements

Citigroup, Kabbage Form Consortium On Fintech Cybersecurity

Lalita Clozel – WSJ

World Economic Forum Leads Creation Of Fintech Cyber Security Consortium

Anna Irrera – Reuters

The World Economic Forum has led the creation of an industry consortium focused on improving the cybersecurity of fintech companies, as collaboration between fintechs and financial institutions grows. The consortium’s founding members include Citigroup, online lender Kabbage, DTCC, Zurich Insurance Group and Hewlett Packard Enterprise.

FAO: I kept the best story for the “finale”.  This is clearly the best thing that ever happened in the fintech world since we started publishing this newsletter. Congrats for the initiative! It is an obvious urgent need for a much safer environment in fintech.



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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News