Antoine Gara – Forbes
Reuters Staff – Reuters
S&P Global will buy artificial intelligence and analytics firm Kensho Technologies for about $550 million in cash and shares, the ratings agency said. Kensho, founded at Harvard University in 2013, provides machine learning systems to Wall Street banks, investment firms and the national security community.
FAO: Pam pam! Don’t say we didn’t warn you! 2018 is the year of Artificial Intelligence! Another AI mega deal in a matter of days, after the Romanian-born, currently NYC-based, UiPath raised $153m to become a tech unicorn – more here….
Lucy White – City A.M.
Challenger bank Atom has grabbed £149m in its latest capital raising. Atom, which has previously secured backing from investors including Neil Woodford and Toscafund, has already brought in £1.3bn in deposits and lent £1.2bn in residential mortgages and business loans.
FAO: AND according to a research paper issued by UBS, BBVA is among the most prepared banks for Artificial Intelligence, together with JP Morgan & Bank Of America – more here. I am sure you know that JPMorgan is one of the busiest fintech deal makers…
Amazon CEO Jeff Bezos has become the first person to amass a fortune surpassing $100 billion in Forbes magazine’s annual ranking of the world’s moguls.The milestone underscores the growing clout of Bezos and the company he founded in 1994 as an online bookstore.
DNT: ..and Amazon still has ambitious plans. The e-commerce giant may become a bank – details here, Futures Stars section. It’s been said that no business is safe from Jeff Bezos. :). Florin, should we worry, or be glad?
FAO: We should worry that we don’t have enough resources to cover that whole amount of stories if that happens…joking…
Ovidiu Posirca – Business Reviews
The three founders of Smart Bill, Ioana Hasan, Radu Hasan and Mircea Capatina, hail the success of their company, whose turnover expanded close to four fold since 2014 to EUR 1.5 million last year. They were also able to attract EUR 1 million worth of private equity funding in 2016.
FAO: I am sure that you will hear more in the future from this small company from Romania…When commenting on the UiPath deal the other day I was mentioning the huge potential of the CEE region. Well, there is plenty of talent left and a plethora of startups developing interesting projects. If you need more information regarding this region and its immense potential please contact us here.
Emil Bary – Market Watch
Piper Jaffray analyst Jason Deleeuw said that while the patent was recently made public, it was filed in mid-2016, and recent comments from management suggest to him that PayPal may have “de-prioritized” such efforts in the last 18 months.
Jyotindra Dubey – VC Circle
Coverfox’s parent, Glitterbug Technologies Pvt. Ltd, has raised Rs 49 crore ($7.6 million) from Dutch insurance, pension and asset management firm Aegon NV, a person familiar with the development said.
FAO: NB! This is according to some sources. Not confirmed yet!
Matt Weinberger – Business Insider
Mighty, a New York City-based startup that focuses on litigation finance, just got $9 million in equity funding plus $105 million more for its first investment fund. Mighty provides software for litigation finance firms.
In litigation finance, investors fund lawsuits and get a cut of any settlement or cash award.
FAO: A mighty name also sells well, right?
Pratik Bhakta – Economic Times
Having received the approval of the Securities and Exchange Board of India, Paytm Money is all set to commence operations in the next six to eight weeks along with a dozen or so asset management companies.
FAO: Paytm, the largest payments platform in India, goes into wealth management by launching Paytm Money. The company’s founder, Vijay Shekhar Sharma, is quite an ambitious guy, and (payment companies) invaders will face a pretty tough fight in their plans to conquer India…
Dion Global Solutions announced the launch of the Wealth Intelligence platform with new modules and incorporating many of its award-winning wealth management solutions.
Voicera announced that it has closed its Series A round of financing, which, combined with its seed round, brings total funds raised to $20 million. This recent round will fund the continued rollout of the company’s innovative voice collaboration artificial intelligence (AI) system that transforms meetings into productive, accountable, efficient parts of an enterprise’s day.
Huw Jones – Reuters
The European Union’s executive has proposed a draft law to offer crowdfunding platforms bloc-wide access to customers as part of efforts to boost growth in the fintech sector.
FAO: This sounds encouraging. Let’s see how things develop. Open banking also sounded encouraging initially…
Cromwell Schubarth – Silicon Valley Business Journal
Doug Dennerline, who until recently ran San Mateo-based Alfresco Software., confirmed on that he is the new CEO at a BetterWorks Systems, a post that was vacated last year by Kris Duggan. Dennerline told employees at a BetterWorks all-hands meeting that the human resources software startup has resolved a pair of sexual harassment lawsuits against the company and Duggan.
FAO: Things are cooling down in Silicon Valley, especially after a very hot summer – check our FREE ARCHIVE!
Via Business Insider – Danielle Szetho is stepping down as CEO of FinTech. Sarah Worboys, a former chartered accountant now active with startups, will be interim CEO.
DNT: Danielle Szetho was the inaugural CEO of FinTech Australia. She is leaving after almost two successful years in this position, as we are informed in the story.
Yen Nee Lee – CNBC
Singapore-based Six Capital Investments, a firm that touted itself as a fintech innovator but which has been plagued by scandal for months, is being liquidated.
FAO: A follow-up on last year’s reports of angry investors alerting the police in the matter.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News