FinTech Daily News – Soft launch Edition #23, 26.06.2017
June 26, 2017
FinTech Daily News – Soft launch Edition #25, 28.06.2017
June 28, 2017

FinTech Daily News – Soft launch Edition #24, 27.06.2017

FinTech Daily News

by Florin Oprea

Edition #24, 27.06.2017

Deals, Investments & M&As

PayKey Mobile Payment App Raises $6 Million in Series B Funding

Naomi Barzel – Finance Magnates

By using the PayKey app, clients are able to transfer funds via Twitter, WhatsApp, and Facebook Messenger. A similar amount was raised back in November 2016 to advance the development of the mobile app.

FAO: Lead investor of the round was MizMaa Ventures.

Fintech Set For Further Surge After Leap In Take-Up

Scott Reid – Scotsman

Levels of financial technology adoption among the general public have surged globally over the past 18 months, with the UK leading the way among developed nations, according to a new study.

FAO: Remember yesterday’s EY Fintech Adoption Index.


Mobile Payments App Yoyo Raises $15 Million In Investment, Backed By German Retail Giant Metro Group

Ryan Browne – CNBC

UK’s Yoyo Wallet raised £12 million ($15.3 million) in a Series B round, it announced on Monday. The deal was led by German retail giant Metro Group, and awaits approval from the U.K.’s Financial Conduct Authority.

FAO: Yoyo Wallet is a mobile wallet allowing its users to pay for their goods with smartphones; currently processes over 150,000 monthly in-store transactions.

Latvian Payments FinTech Selects Accuity


TransferMoney Latvia has selected Accuity to streamline its account and payments screening processes. The move is to help better identify financial crime risk, highlight potential sanctions breaches and flag potentially high-risk customers.

Alipay Expands Into Africa

Justina Crabtree, Arjun Kharpal – CNBC

Alibaba’s payments app Alipay unveiled the latest step in its global expansion strategy Monday. The platform is to launch in South Africa with the intention of servicing Chinese tourists.


Euroloan Sets New Crowdfunding Record For FinTech Companies In Finland

Globe Newswire

Euroloan Group PLC issued new shares on Privanet Group PLC’s crowdfunding platform Around. The statutory maximum limit of EUR 4.995 million for the issue was reached on Thursday, June 8, eight days early. The subscription was at termination at 5,599,031 EUR, i.e. 377% of the minimum target of EUR 1.5 million and 112% of the statutory maximum.


Swiss Cantonal Banks in Fintech Joint Venture


Schwyzer Kantonalbank (SZKB) and Walliser Kantonalbank (WKB) have signed a cooperation agreement on the use and development of digital banking services.


Peter Thiel-Backed Mobile Banking Startup N26 Expands Into Insurance

Paul Sawers – Venture Beat

Originally only available in Germany and Austria, the service has slowly been expanding across the Eurozone and now claims 300,000 customers in 17 countries.

FAO: N26’s Series A funding round (Eur 10m) in 2015 was lead by Peter Thiel’s Valar Ventures. The company raised $40m a year ago in a Series B funding round lead by Horizons Ventures.

Wealth & Personal Finance

Fiserv Partners with Marstone To Offer Robo Advice


Broker-dealers, asset managers and banks using Fiserv can now deploy a self-service robo advisor or a hybrid offering through a new partnership.


Regtech Report Encourages Regulators To Innovate And US To Participate More In Fintech-Aided Compliance

Neil Ainger – CNBC

A new whitepaper from Innovate Finance’s Transatlantic Policy Working Group (TPWG) has recommended that regulators in the U.S. do more to encourage fintech innovation in the regulatory field regtech by liaising with their international counterparts more and adopting a national policy that conforms with global norms.

FAO: Yip. Get in touch with Europe, at least…You can check this last week’s edition of FDN, “Regulation” section. Asia is pushing forward very fast, not need to try keeping pace.

Retail banking

Santander Forges Ahead In Fintech With The Red Lyra Blockchain Network

Madhvi Mavadiya – Forbes

The end of last month saw a consortium of Spanish companies create Red Lyra, the first multisector blockchain-based technology platform. This signals a significant change in the financial technology sector and with the caliber of organisations involved plus their past experimentation with blockchain, this could be big for Spanish and global fintech.

Ex-Barclays Chief Says Banking Could Face Its Own ‘Kodak Moment’; Urges Banks To Embrace Fintech Solutions

Ryan Browne, Arjun Kharpal – CNBC

Says incoming EU regulations which allow third parties to manage finances of bank customers will create ‘exciting customer experiences’.

FAO: A bit harsh, but could represent an alarm signal for the banking sector.

Poland’s mBank To License Tech Platform To Third Party Financial Institutions


Poland’s mBank is taking a leaf out of German banking peer Fidor’s playbook, licensing its technology backbone to other financial institutions across Europe.

Backbase Scores Fintech Deal In Norway With SSF Bank

Tanya Andreasyan – Banking Technology

Norway’s Sparebanken Sogn Og Fjordane (SSF) Bank is modernising its digital banking tech with Backbase.

FinTech People

via PE Hub – Financial Technology Partners has opened a new London office and has hired Timm Schipporeit to join as managing director. Schipporeit is a former financial tech investment banker at Morgan Stanley and fintech investor at Index Ventures.

Jack Dorsey Tells FinTech Startups To Walk The Walk Not Talk The Talk

IBS Intelligence

Twitter co-founder Jack Dorsey reckons that FinTech startups need to stop talking about their projects and “just make it”.


Japan Casts A Wider Net With Its Latest Fintech Initiatives

Maria Terekhova – Business Insider

Japan’s fintech efforts have largely focused on blockchain technology and cryptocurrencies, but now the country seems to be taking a broader approach toward the industry.

Accelerators & Hubs

Yes Bank Chief’s Daughter Okays ISME Fintech Accelerator With A Rs.100-cr Fund

Supraja Srinivasan – The Economic Times

Indian School of Management and Entrepreneurship, managed by the family office of Yes Bank chief Rana Kapoor’s daughters, has launched a specialised accelerator programme in Mumbai for fintech startups.


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