FinTech Daily News – Edition 17, 26.07.2017
July 26, 2017
FinTech Daily News – Edition 19, 28.07.2017
July 28, 2017

FinTech Daily News – Edition 18, 27.07.2017

FinTech Daily News

by Florin Oprea

Edition 18, 27.07.2017

Deals, Investments & M&As

Singapore: Vertex Ventures Backs $23m Series B In Israel’s PerimeterX

Shiwen Yap – Dealstreet Asia

PerimeterX, a provider of behavior-based threat protection technology for cloud, web and mobile, has secured $23 million in Series B funding led by Canaan Partners with participation from existing investors Vertex Ventures and Data Collective (DCVC).

Sequoia And Andreessen Horowitz Are Secretly Backing This Cryptocurrency Hedge Fund

Jen Wieczner – Fortune

It’s a hedge fund savvy enough to have scooped up Bitcoin when it was free. One of its founders is the well-known CEO of AngelList, Naval Ravikant. It’s backed by a roster of Silicon Valley’s top venture capital firms, and boasts returns of more than 500%. And you’ve probably never heard of it.

DNT: True, I’ve never heard of it…but it’s very interesting. What about you, Florin? I guess that a lot of people will hear, now, via FinTech Daily News!

FAO: Well in fact I did hear about it! MetaStable Capital is one of the first hedge funds oriented strictly to crypto assets. It was launched in September 2014. There are at least 15 “crypto assets” oriented hedge funds globally. It strengthens our belief that this investment universe is getting bigger and bigger.  

In Silicon Valley, the Big Venture Funds Keep Getting Bigger

Eliot Brown – The Wall Street Journal (subscription)

Giant venture-capital funds are piling up in Silicon Valley, a sign that foundations, pension funds and endowments are still willing to rush money into the risky startup sector despite lingering concerns about overheated valuations.

FAO: See? Here’s another proof…BTW you really cannot miss today’s Blockchain Daily News. The SEC wants its piece of this increasing “pie”…

Payments

WorldRemit Launches Digital Money Transfers From Singapore

BusinessWire

WorldRemit, the leading digital money transfer company, has launched in Singapore. The new service will enable migrants in Singapore to transfer money to over 140 countries as easily as sending an instant message, using the WorldRemit app or website.

FAO: Oh, it’s Singapore, again. Lot of action here.

Regtech

Nasdaq Acquires Sybenetix

Shanny Basar – Markes Media

Nasdaq is acquiring Sybenetix, which uses behavioral analytics and cognitive computing for market surveillance, after entering into a strategic alliance last year with Digital Reasoning.

UK-based Sybenetix said in a statement that its behavioral science technology is designed to help asset managers with surveillance.

FAO: You really cannot evolve without having the best means of doing it. Nasdaq pushes forward with its latest acquisition. Financial terms of the deal were not disclosed.

Retail banking

A Quick Guide To What’s At Stake In The SoFi Charter Controversy

Marc Hochstein – American Banker

When a highflying technology startup with a bluntly elitist brand seeks access to FDIC-insured deposits through the kind of charter Walmart once sought, a backlash is almost certainly inevitable.

FAO: More on SoFi’s application for a bank charter. Previous coverage here.

4 Fintech Companies That Might Replace Your Bank One Day

Dylan Wittenberg – Benzinga

Although the Bay Area is host to many of fintech’s top players, some of the space’s best young companies are taking the financial services industry to new heights by leading the way in innovation, quality, and customer service.

FAO: You guessed! SoFi is among those mentioned.

Data Centers

Visa Expands Global Transaction Processing With New Data Centre In Singapore

Kiersnerr Gerwin Tacadena – Interantional Business Times

Global payments technology company Visa unveiled two new data centres as part of its expanded transaction processing capabilities. The new global processing hubs in Singapore and in the United Kingdom are expected to improve the group’s infrastructure and strengthen its capability to introduce new methods to pay.

FAO: #Singaporeagaininfdn ? #Singaporelovesfintech? Which one would you prefer?

Cap Markets & Other

‘Flexible’ Regulations Give Indonesia’s Peer-to-Peer Lending Startups Room To Grow

Casey Hynes – Forbes

It’s been seven months since the Indonesian government issued regulations for the peer-to-peer (P2P) lending industry, and the mood in the sector is optimistic.

FinTech People

Via The Australian (subscription): . CommSec founder Paul Rickard and finance commentator Marty Switzer have joined online mortgage start-up HashChing

Latest Developments & Agreements

Capital One Card Data Now Exchanged With Xero

Finextra

Using a direct secure integration with Capital One’s new API, small businesses are now able to connect their Capital One card data with Xero. This completely digital process gives users an on-demand view of their financial state.

ADGM And Asic Form Fintech Bridge

Finextra

Abu Dhabi Global Market (ADGM) and the Australian Securities and Investments Commission (ASIC) have strengthened their FinTech collaboration with an official strategic partnership to further advance developments and initiatives that nurture Fintech entrepreneurship and support innovation in financial services in Abu Dhabi and Australia.

FAO: It surely cannot do any damage.

Accelerators & Hubs

Startup Hub Builder Factory Plans Gargantuan New Campus In Lisbon

Mike Butcher -TechCrunch

With support from Startup Lisboa, the Lisbon City Hall has contracted Factory to work with them on a massive new project: Hub Criativo do Beato

FAO: Lisbon plans to challenge Paris’ Station F (more about it here), dubbed world’s largest start-up incubator. The Portuguese plan to have at least 35,000 m2 in the first phase of the project, 1,000 m2 more than in France. At completion Hub Criativo do Beato will have 100,000 m2.

Events

Fintech Company Payoneer To Roll Out Flagship Event In India

Kr Srivats – The Hindu Business Line

The New York-headquartered cross-border fintech, which commenced operations in India in August last year, will in the second half this year roll out its Payoneer Forum in the Indian market.

Other news

Deutsche Bank Wants To Bring ‘Tough Love’ To Fintech

Yolanda Bobeldijk – Financial News (subscription)

When attempting to flog their software to Deutsche Bank’s head of innovation, fintech founders may be encouraged to learn that, in a previous life, Elly Hardwick was a fintech CEO.

Google Launches Its Own AI Studio To Foster Machine Intelligence Startups

John Mannes – TechCrunch

Google’s Launchpad is announcing a new hands-on Studio program to feed hungry AI startups the resources they need to get off the ground and scale.

FAO: Here’s some more coverage on Google’s New AI fund Gradient Ventures.

 

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News