by Florin Oprea
Saritha Rai, George Smith Alexander – Bloomberg
Amazon.com Inc. has made a bid to acquire Indian digital payments startup FreeCharge from e-commerce operator Snapdeal, a person with direct knowledge of the matter said.
FAO: No! It’s not Free of Charge! It’s FreeCharge! Got it? Good! Amazon offers between $50m to $80m. Jasper Infotech Pvt, Snapdeal’s parent, started talks with other parties: Axis Bank Ltd. and One97 Communications-owned Paytm Payments Bank.
There are 26 financial technology “unicorns”, or startup companies valued at US$1bn or more, after five new firms reached that milestone last quarter, according to a report released on Tuesday.
FAO: More fintech numbers! Latest CB Insights report is out. There are 26 fintech “unicorns” globally, of which 15 in North America, 7 in Asia and 4 in Europe.
Yessi Bello Perez – Tech City News
UK FinTech companies raised significantly less from VCs in Q2 2017, when compared to the previous quarter.
FAO: UK FinTech firms raised $164m in Q2 2017, down 52% compared to Q1 2017.
Ishita Russell – Deal Street Asia
Driven by a mega $1.4 billion-investment by Softbank, Asia surpassed the US to account for over half of the funding raised by venture-backed fintech firms in Q2 2017.
Sukanya Mukherjee – Inc42
Bengaluru-based staff communication platform Noticeboard has raised$1.2 Mn in a funding round led by Stellaris Venture Partners and other angel investors Among the angel investors that participated in the round are BlackBuck founder Rajesh Yabaji and Jayant Kadambi, co-founder of digital advertising company YuMe.
Antony Currie – Reuters
Fintech’s faithful are putting payments on a pedestal. Square and PayPal shares are near all-time highs – as are those of venerable outfits like Visa, MasterCard and First Data. They’re each chasing what could be a $2.3 trillion revenue business by 2019, according to McKinsey. But they can’t all be winners.
Katie Roof – TechCrunch
The first step of any salesperson is to figure out who to pitch, but some of them are wasting time targeting the wrong prospective clients.
FAO: Avalon Ventures was lead investor of this Series A funding round..
Ryan Weeks – Alt Fi News
I recently went on holiday in Europe, accompanied by five other people under the age of thirty. Every single one of them carried with them either a Monzo or Revolut card. It was the first time in nearly four years of covering alternative finance and fintech for AltFi.com that I felt able to discuss the subject of my scribblings in terms other than niche.
FAO: Talks about Revolut (recently raised $66 million in funding round) and Monzo (raised a total of $44.93m in 6 rounds in the last 2 years).
Telis Demos – The Wall Street Journal
Varo Money becomes second major U.S. fintech startup to register to become a bank.
FAO: Total raised by Varo Money in 3 rounds – 59.73M.
Rebecca Campbel – Cryptocoins News
A Pakistani-based fintech firm is aiming to provide access to millions of unbanked people in Pakistan by giving them a financial identity.
Via PR Newswire: Dash Financial Technologies Appoints Sarah Hall Managing Director, Head of Human Resources
Demet Zubeyiroglu – LinkedIn
KOOP program will be expanded to other EEMEA markets upon its go-live by mid-September in Istanbul. The business and operational details of the program will be soon announced at ko-op.co.
FAO: Interesting regional initiative announced for September. Hope to hear more about this very soon. If there is anybody who wants to share more insight about this program – please contact us.
Ryan McMunn – Entrepreneur
For years, however, cities outside of the U.S. have surfaced in an ambitious attempt to dethrone the Valley as the dream destination for entrepreneurs and founders.
FinTech adoption in Canada has increased from 8% to 18% since 2015, according to EY’s 2017 Fintech Adoption Index. The trend means both traditional banks and FinTechs are feeling the pressure to develop simpler, more transparent, customer-centric financial services products.
Angela Scott-Briggs – Tech Bullion
Industry experts have opined that JPMorgan’s interest in Worldpay (reported earlier this month) is likely to mark the beginning of acquisition of European fintech startups by banks. Although JPMorgan eventually decided not to table a bid, it had demonstrated an interest in acquiring the UK based payments processing company which is now set to be acquired by Vantiv,a U.S credit technology firm, for $10 billion.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News