by Florin Oprea
Lizette Chapman – Bloomberg
SoftBank has plowed $250 million into online lender Kabbage, the latest in a flurry of big bets on mature startups by the Japanese technology company. Kabbage will use the new money to expand its lending products for small businesses and, if there’s a demand, offer new products like insurance and payroll services.
FAO: SoftBank is not soft at all when going shopping. Here’s another hard investment in fintech.
Eugene Costello – International Investment
The Gibraltar Stock Exchange has signalled its determination to embrace blockchain technology and absorb virtual currencies into its trading, with its announcement that it has sold a “strategic” 25% ownership stake to an entity called Cyberhub Fintech.
FAO: Oh, it’s in fact the “Cryptoverse” which absorbs here. It is clearly expanding and starts swallowing bits and pieces of “classic markets” infrastructure.
Alfred Liu – Bloomberg
TNG FinTech Group, a Hong Kong-based digital wallet operator founded in 2013, is poised to close a funding round and is targeting a valuation of about $500 million, according to a person familiar with the matter.
Payworks, a leading provider of Point of Sale payment infrastructure, announced that their payment gateway technology will be supporting the integration of Alipay for payment providers across Europe.
FAO: Next on the checklist?
Amelia Heathman – Verdict
Urvaksh Karkaria – Atlanta Business Chronicle
Atlanta “unicorn” Kabbage has raised $250 million from existing investor SoftBank, as the fintech mulls an IPO. Kabbage, valued at more than $1 billion, uses automation and analytics to provide short-term working capital to small and mid-sized businesses, who are often turned away by financial institutions that are either risk-averse or unable to write five-figure loans profitably.
FAO: Yesterday we reported about the various reactions of VCs after SoftBank announced its plans to create the $100 billion “SoftBank Vision Fund”. Sorry guys, it’s competition.
Marc Shoffman- Peer2Peer Finance News
It has been a busy quarter for the “big three” peer-to-peer lenders with Zopa, Funding Circle and RateSetter all reaching the £2bn lending milestone.
But who will be first to £3bn?
FAO: Let ask SoftBank ?!?
Yolanda Bobeldijk – Financial News
New partnership unveiled just a week after Nasdaq acquired London-based fintech Sybenetix
Deutsche Börse has brought in tech outfit RegTek Solutions to help it tackle Europe’s new trading rulebook, in the latest example of an established exchange teaming up with one of the new breed of fintech pioneers.
FAO: Gosh, it’s “all hands on deck” and a little extra at DB1 on tackling Mifid II.
Anirudh Laskar – Live Mint
The Securities and Exchange Board of India (Sebi) on Wednesday formed a 10-member committee on financial and regulatory technologies, headed by Manipal Global Education chairman T.V. Mohandas Pai.
FAO: Hmmm, I wonder how its first meeting will look, and what will be on the agenda.
David Swan – The Australian (subscription)
Sydney is fast becoming the Asia-Pacific’s fintech hub, with new research showing the city is outpacing the likes of Hong Kong and Singapore.
The Committee for Sydney had given their enormous support to Sydney’s goal of becoming a new global Fintech Hub. They have asked the NSW Government to give their support to the fintech ecosystem in Sydney as they can see it big economic potential.
FAO: A lot of “push” lately in/for Sydney. Competition is growing in the region. This is very interesting to watch. Go Aussies!
Via PR Newswire– Equinix Reports Second Quarter 2017 Results Interconnection and Data Center Leader Delivers 58th Consecutive Quarter of Revenue Growth; Quarterly Revenues Surpass $1 Billion for the First Time
Michael Tegos – Tech In Asia
Polytechnics in Singapore are about to start teaching fintech with the help of Germany-headquartered Fidor Bank.
Fidor is a digital bank that partners with other companies and clients to advise on and build digital banking services. This includes financial APIs, middleware, and internet banking products.
FAO: We have picked two more educational initiatives in this space and keen to report even more. We encourage them and want others to follow examples.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News