FinTech Daily News – Edition 19, 28.07.2017
July 28, 2017
FinTech Daily News – Edition 21, 01.08.2017
August 1, 2017

FinTech Daily News – Edition 20, 31.07.2017

FinTech Daily News

by Florin Oprea

Edition 20, 31.07.2017

Deals, Investments & M&As

If We Want To Retain The Wealth And Resources Generated By Our Pioneering Tech Firms, Then The Government Must Act To Keep WorldPay British, Says Alex Brummer

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

Prospa Raises $20m From Partners For Growth

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.

Investors Explore Merger Between CarDekho And CarTrade

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.

Vela Completes Object Trading Acquisition

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.

Regtech

15 ‘RegTech’ Investors Every Fintech Startup Needs to Know

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.

FinTech People

Brexit? Just Keep Calm And Focus On Fintech

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.

Why Not To Work In Fintech: Consolidation Could Eat Your Job

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.  

Venture Capital’s Secret Code Is Being Tested by Harassment Scandals

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 Banks Back Fintech Career Accelerator Scheme

Finextra

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.

Regulation

DIFC Takes A Big Leap Forward In Fintech Initiatives

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.

Accelerators & Hubs

This is how Emmanuel Macron Will Make Paris The Financial Hub Of Europe After Brexit

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.

Analysis

Quantopian Ensures The Alpha Never Runs Out

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