by Florin Oprea
This Is Money
British fintech leader Worldpay will seek to convince investors in the coming week that the £7.7bn bid by American rival Vantiv is a terrific deal and should not be resisted.
FAO: Vantiv’s $10 bln bid for Worldpay (reported here) came after JP Morgan made a preliminary approach to buy the British company
James Eyres – Financial Review (subscription)
Online business lender Prospa has raised $20 million from Silicon Valley-based Partners for Growth through a tailored debt facility that it will allow it to ramp up loans and further develop its technology allowing credit assessments to be made in seconds
FAO: In total, In the last four years, Prospa raised no less than $96 mln in four funding rounds from investors including AirTree Ventures and Ironbridge Capital. Prospa is the leading online lender to small business in Australia.
Nishant Sharma – Bloomberg
Singapore government’s investment fund Temasek-backed CarTrade is exploring a merger with rival CarDekho as investors push to create India’s largest online auto classifieds portal, two people aware of the development told BloombergQuint.
John D’Antona Jr. – Traders Magazine
Vela Trading Technologies LLC (Vela), a global leader in high performance trading, market data, and analytics technology, announced it has completed the acquisition of Object Trading, a global provider of a fully-managed Direct Market Access (DMA) platform, pre-trade risk controls, and analytics applications.
FAO: Vela-Object Trading deal was announced earlier this month. Vela recently bought OptionsCity Software (reported in June, during our soft launch). You can also read an interesting piece in “FinTech People”, regarding the impact of sector consolidation.
Serenity Gibbons – Entrepreneur
According to statistics from CB Insights, RegTech startups have raised approximately $2.3 billion across 317 deals between 2012 and 2016. As an area that continues to grow, propelled by interest in and demand for FinTech solutions, more investors are turning their attention to regtech startups, including those in cannabis, vendor risk management, information security/cybersecurity, healthcare, background checks, compliance management and government/legislation.
FAO: Useful data.
Kiki Loizou – The Times
Betfair founder Ed Wray had a reputation for volatility. Now he’s become an angel investor to start-ups, he is ‘a lot more chilled’
FAO: An interesting interview with Betfair founder, now angel investor, Ed Wray.
Dan Butcher – Efinancialcareers
You might think you want a job in the growing fintech sector. You might think that working in fintech will be far more exciting than a boring old bank, but have you also considered this? – By virtue of is newness and high growth rates, the fintech sector is a prime candidate for consolidation. And if you work there, this means you can expect a lot of career disruption.
FAO: It discusses the possible job cuts following the Vela – Object Trading deal.
Sarah McBride, Lizette Chapman – Bloomberg
Reference checks in Silicon Valley these days are likely to start with a new question: “Are you under NDA?”
FAO: NDAs in Silicon Valley. A must-read.
Hong Kong’s banks have banded together to sniff out the island’s top emerging financial technology talent, inviting more than 70 students to sign on to lengthy fintech internships.
Babu Das Augustine – Gulf News
Dubai: Fintech has emerged as the buzzword of the decade in the rapidly changing financial services industry. Dubai International Financial Centre (DIFC) has been taking a pioneering role on the global and regional stage.
Wolf Klinz – Independent
The harder France presses the UK on matters like the financial passport or euro clearing rights, the more business Paris can lure away from London
FAO: Here’s even more coverage regarding the epic “fintech battle” for Europe. Remember Macron kicked off Station F, the largest incubator in the world. (reported here). Germany is also pushing fast in attracting more business in Frankfurt and Berlin while Lisbon just announced its plans for Hub Criativo do Beato which will have 100,000 m2 at completion.
Ian Allison – Internațional Business Times
Crowdsourced investment manager Quantopian has two foundational principles: first, that there is quantitative talent all over the world, and second, that quantitative managers need to continually find new strategies.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News