FinTech Daily News – Edition 20, 31.07.2017
July 31, 2017
FinTech Daily News – Edition 22, 02.08.2017
August 2, 2017

FinTech Daily News – Edition 21, 01.08.2017

FinTech Daily News

by Florin Oprea

Edition 21, 01.08.2017

Deals, Investments & M&As

Revolut’s $5.3 Million Crowdfunding Campaign Is Oversubscribed

Romain Dillet – TechCrunch

Fintech startup Revolut just raised a ton of money. But grabbing $66 million from respected VC firms wasn’t enough (£50 million). For the second time, Revolut asked its user base to invest in the startup. Revolut was looking for $5.3 million on Seedrs (£4 million), but 40,000 customers said that they were interested in the investment opportunity.

FAO: Revolut recently raised  $66 million in a funding round. What do they do with all that money?

PayPal Joins £4 Million Cloud IQ Round

Finextra

Cloud IQ, the commerce optimisation platform, announces that it has raised a £4m round, including an investment from PayPal. This investment will enable Cloud IQ to democratise digital marketing, enabling businesses of all sizes to deliver dynamic individual user experiences that are beneficial to both consumers and the merchant.

Lattice Raises $6.4M From Thrive Capital And Khosla Ventures To Fix Performance Reviews

Alex Konrad – Forbes

By offering a new type of performance review framed around two or three larger reviews and weekly check-ins, the company jumped from “essentially nobody” as customers to 225 companies today such as Birchbox, Cruise, Glossier and New York Public Radio. Half of the employees signed up on Lattice check the app for their performance progress each month.

FAO: In less than two years Lattice raised more than $9 m in four funding rounds.

Lending

Mobile Bank N26 Launches Loans With Credit Marketplace Auxmoney

Antony Peyton – Banking Technology

Berlin-based mobile bank N26 has teamed up with credit marketplace Auxmoney to offer loans in Germany.The deal builds on N26’s current range of consumer loans – and with this new partnership, N26 says it will soon be able to offer loans to those such as students, the self-employed or freelancers.

FAO: Horizons Ventures was lead investor in N26’s latest $40m funding round.

One Of China’s Biggest P2P Lenders Quits Ahead Of Clampdown

Louise Lucas, Sherry Fei Ju – Financial Times (subscription)

China’s pending regulatory crackdown on the $120bn peer-to-peer lending industry has claimed its first scalp before it has even begun, with one of the biggest players saying it will wind up its business in an industry full of bad loans and no profits.

Retail banking

Banking’s Fintech Fears

Financial Times (video)

FAO: 22 fintech unicorns could get access to bank customer data in Europe, of course banks are starting to feel more and more pressure from their competitors.

FinTech People

VC Firm NEA’s India Head Bala Deshpande To Set Up Independent Investment Firm

Swaraj Singh Dhanjal  – Deal Street Asia

Bala Deshpande, India head of US venture capital fund NEA, is setting up an independent investment firm along with her three colleagues.

FAO: Deshpande’s company, MegaDelta Capital Advisors, aims to raise around $250-300 m for its first fund focused on India.

From Refugee To One Of Asset Management’s ‘Smartest Men’

Attracta Mooney – Financial Times (subscription)

Abdallah Nauphal was a teenager when he fled Lebanon in 1978 to escape the country’s brutal civil war, a route hundreds of thousands of his fellow citizens would take over the 15-year conflict. Now chief executive of Insight Investment, the £552bn fund house, Mr Nauphal appears uncomfortable discussing that time. The little he says reveals much about the businessman he became in the decades since.

FAO: Interesting piece.

Accelerators & Hubs

Meet H2 Ventures’ Fourth Generation Of Startups

Elizabeth Barry – Fider

The H2 Accelerator, the dedicated program from venture capital heavyweight firm H2 Ventures, has just turned out its latest batch of startups. The seven startups pitched to a packed theatre at the ASX building in Sydney after spending 20 weeks honing their companies, platforms and products in the accelerator.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News