by Florin Oprea
Camilla Hodgson – Business Insider
Banking startup Tide raised $14 million in one of the largest Series A funding rounds closed by a fintech company this year.
FAO: Lead investors were Creandum and Anthemis Group.
Arti Singh -VC Circle
Instarem, a Singapore-headquartered cross-border payments company founded by Indian-origin entrepreneur Prajit Nanu, has raised $13 million in a Series B funding round led by Chinese venture capital firm GSR Ventures.
FAO: Silicon Valley Bank was also a lead investor. InstaReM charges users an amount that covers the intra-day Forex fluctuations, and no other fees.
FAO: Raised from Vertex Ventures to expand regionally and grow its online lending platform.
Jessica Galang – Betakit
AngelList has launched Intros for Canada to give more startups access to seed-stage funding through the network.
Therese Torris – Crowdfund Insider
Max Colchester, Emily Glazer – The Wall Street Journal (subscription)
J.P. Morgan made a preliminary approach to acquire U.K. payments business Worldpay Group, potentially marking one of the biggest deals for a U.S. bank since the financial crisis and reflecting banks’ growing confidence in a shifting regulatory environment.
Samantha Cheh – Tech Wire Asia
THE REMITTANCE market is a largely saturated one, with banks traditionally having significant control over it due to their outsized financial power. But more financial technology startups have been entering the scene in recent times, disrupting this lucrative US$429 billion market.
Danny Bradbury – Financial Post
When it comes to rethinking how we pay each other, fintechs are a driving force. Young, aggressive companies are eager to disrupt many aspects of the financial industry, and payments are no exception.
A new Juniper Research study reveals the increasing dominance of Chinese companies in digital payments, with players such as Alibaba, Tencent and UnionPay seeking to bolster their revenues through international expansion.
FAO: I remember we had this story during our soft launch. China is leading the way in fintech adoption, according to EY’s Fintech Adoption Index 2017.
Ryan Lawler – Tech Crunch
Online lending company SoFi is closing down Zenbanx, the online banking provider it bought earlier this year. In an email sent to Zenbanx customers, the company announced that it will close all accounts at the end of next month.
Arjun Kharpal – CNBC
Ever have a situation where you pay on the wrong card and then have to spend time sending money from one bank account to the next?
That’s a problem financial technology or fintech start-up Curve is trying to solve with the launch of its patent-pending “time travel” feature on Monday.
DNT: Really a very useful feature!
Peer2Peer Finance News
RateSetter is planning to boost its direct marketing methods to diversify its sources of new business borrowers.
The New York Times
Financial technology firms in Brazil are targeting lending to small- and mid-sized companies to fill a gap in the credit market left by large lenders deterred by rising delinquencies and narrow margins.
FAO: Interesting stats – Borrowers in Brazil pay an average 250% a year for the riskiest type of unsecured rollover credit.
Financial Review (subscription)
A small fintech company has beaten the financial services regulator and will able to use “bank” in its trading name.
FAO: Australian Prudential and Regulation Authority (APRA) refused to approve the name Bankrolla.
Tas Bindi – ZD Net
500 Startup’s co-founder and frontman Dave McClure handed in his resignation on Monday after being outed (reported earlier this week) by whistleblowers for sexual misconduct towards a number of women in professional settings.
John Kennedy – Siliconrepublic
After a watershed week of revelations about inappropriate behaviour among Silicon Valley’s elite investors, seismic changes are afoot.
Via PR Newswire – Funding Circle announced that Sean Glithero will join the company as its new global Chief Financial Officer. Glithero will join from Auto Trader.
Shubham Raj – Moneycontrol
How is it that Israel — a country of 7.1 million people, only sixty years old, surrounded by enemies, in a constant state of war since its founding, with no natural resources — produces more startups than large, peaceful, and stable nations like Japan, China, India, Korea, Canada, and the United Kingdom?
Via Business Insider – Phil Kenworthy, the former CEO of CHAPS, has joined the board of ClearBank’s the UK’s first purpose-built clearing bank in 250 years.
Natalie Bannerman – Capacity
Equinix has announced the opening of its new flagship data centre in Frankfurt, its sixth exchange in the German city.
FAO: It’s called FR6 and is located on Equinix’s Campus Kleyer part of the digital campus in Frankfurt.
John Ginovsky – Banking Exchange
The controversy over the possible establishment of a national banking charter available to fintech companies came into sharp focus at the recent ABA Payments Forum in Washington, D.C.
David Prosser – Forbes
Vancouver on the West coast of Canada is the best city in the world in which to start a new business and if you’re a UK entrepreneur, you’re better off launching your start-up in Manchester than in London.
Aggelos Andreou – Waters Technology
Denmark has had a digital culture for years. It is practically a cashless country where people never stop picking up new technologies to simplify their already simple and uncluttered lives. It is therefore not that hard to get a grip on what is going on fintech-wise.
FAO: Aggelos Andreou asks “Could Denmark compete London as Europe’s biggest fintech hub?” – No, not really.
The UAE’s second biggest financial free zone has agreed to work with a Chinese cooperation zone to promote investment and fintech in both countries, Abu Dhabi’s financial free zone said on its website on Monday.
David Hellier, Giles Turner – Bloomberg
Michael Spencer’s NEX Group (formerly known as ICAP Plc) is facing the prospect of an investor rebellion at its shareholder meeting next week after asking for authority to make 100,000 pounds ($129,300) in political donations.
FAO: That’s what happens when you mix business and politics…
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News