Steve O’Hear – TechCrunch
SolarisBank, the Berlin-based “banking platform” co-founded by fintech company builder Finleap, appears to be on quite a roll. The company, which now claims nearly 60 corporate clients who offer various financial services powered by solarisBank, has closed €56.6 million in Series B funding in a round that includes a number of new strategic and financial investors.
FAO: Actually I think Berlin is on a roll. This 2 years old company just reached €95.1m in funding. Not bad, not bad at all…Among its previous backers – Arvato Financial Solutions.
Lynne Marek – Chicago Business
GTCR said in a statement that it’s selling New York-based Dash Financial Technologies to that company’s co-founders, Peter Maragos and David Karat, who in turn partnered with Flexpoint to make the purchase. A Dash spokesman declined to say what size ownership stake Flexpoint is buying or how much it paid.
FAO: A thorough (as always) analysis of this deal provided by Lynne Marek. Dash is a provider of trading tech and execution services for institutional investors and asset managers for trading of options and stocks. Just fyi, it has nothing to do with Dash, the cryptocurrency…
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Shannon Liao – The Verge
Amazon thinks it has a solution to a freaky problem: Reports of Alexa-powered devices like Amazon Echo creeping users out by laughing unprompted. It quickly became a meme, of course. The solution? Changing the prompt that needs to be spoken in order to elicit laughter from the wannabe human. Sleep well!
FAO: Something went wrong in Amazon’s labs? Various users said the device is laughing at inappropriate moments, or starts reading off names of funeral homes unprompted. This is absolutely hilarious, or not…
I know, what if Alexa laughs because it actually predicts the future: Amazon Bank (more here), Amazon-coin, global banks closing one after another, and soon, world domination…. just saying…Sleep well!
Just because China’s financial regulators are cracking down on cryptocurrencies doesn’t mean they’re souring on the idea of digital money.
FAO: How do you say “Of course” in Chinese. Alexa?
Fitz Tepper – TechCrunch
It seems like each new feature Square adds to its Cash app brings it one step closer to being a de-facto bank account for its users. Case in point, the app just rolled out support for ACH direct deposits, meaning users can now get their paycheck or other deposits put directly into their Cash app balance.
Samantha Hurst – Crowdfund Insider
Bank Account Based Blockchain, announced it successfully raised its targeted $20 million in a sold-out ICO and is now set to open its first regulated blockchain-based bank accounts before the end the year.
FAO: If you are not (yet) familiar with the term ICO, I suggest you go and read Blockchain Daily News more often…
Dan Butcher – Efinancialcareers
It’s becoming more common for bankers to quit the traditional financial services in favor of fintech either co-founding a startup or landing at an established fintech firm. Some crash and burn and come crawling back to banking with their tail between their legs, but many have found great success in the fintech space.
FAO: I am sure you heard about one Brad Katsuyama, co-founder/CEO of IEX Group, Blythe Masters, CEO of Digital Asset Holdings or Ronnie Mateo, CEO of Trumid Financial to name but a few…
Financial procedures have evolved drastically over the last 100 years. We have seen a huge change in how many aspects of finance are processed such as payments, investment, data storage and types of currency. A term that has sprung up in the last couple of decades and gained prominence is ‘Fintech’ – this articles details exactly what Fintech is, and why it is essential for the modern world.
FAO: Maybe you need something to read this weekend.
Connie Loizos – TechCrunch
The buzzy startups Robinhood and Cadre are known for different things. Five-year-old Robinhood has established its reputation by offering commission-free stock trading, while three-year-old Cadre burst onto the scene with a real estate investing platform. Yet both have developed similar ambitions to become financial “superstores,” using the Amazon playbook of starting in one place, and quickly expanding into other terrain.
FAO: Another entry on your weekend reading list.
Tim Culpan – Bloomberg (subscription)
Alibaba and Tencent have innovation, flexibility and an eye for opportunity.
FAO: And they’re coming to conquer the rest of the world.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News