FinTech Daily News – Soft launch Edition #25, 28.06.2017
June 28, 2017
FinTech Daily News – Edition 1, 03.07.2017
July 3, 2017

FinTech Daily News – Soft launch Edition #26, 29.06.2017

FinTech Daily News

by Florin Oprea

Edition #26, 29.06.2017

Deals, Investments & M&As

Sumo Logic Scores $75M In Round It Hopes Takes It To An IPO

Silicon Valley Business Journal

The Redwood City machine data analytics platform provider said it has tripled its subscription revenue and user base since it last raised funds two years ago. It has also hired dozens of people.

FAO: Sumo Logic raised a total of $230m in 5 rounds from 10 investors. This last round was lead by Sapphire Ventures.

Image Recognition Firm Trax Raises US$64 Million In Largest Funding Round To Date

Chia Yan Min – Straits Times

Singapore-based image recognition company Trax has completed its largest investment round to date of US$64 million led by an affiliate of private equity firm Warburg Pincus.

FAO: Investec lead the prior funding round ($19.5m/Series D) last February.

Pantera Capital To Raise $100 Million In Investment For ICO Hedge Fund

Pete Rizzo – CoinDesk

The $600m market for initial coin offerings may soon be set to expand.

Investment firm Pantera Capital is launching a new hedge fund focused on investments solely in tokens that power public blockchain protocols.

Silicon Valley Accelerator 500 Startups Isn’t Backing ICOs – Yet

Michael del Castillo – CoinDesk

Long known for backing exciting early-stage investments, the absence of 500 Startups from the nascent market for blockchain-based initial coin offerings (ICOs) is notable

Catalant Closes Series D Financing, Secures Additional $41M In Funding

PR Newswire

Capital will fund continued development of leading platform for dynamic business talent.

FAO: Previous name of this company was cooler – “Hourly Nerd”.

Big Data Startup Xcalar Raises $21M Led By Khosla Ventures And Launches Xcalar 1.2

PR Newswire

To dramatically increase the ROI that corporations can gain from their big data, Xcalar announced availability of its business analytics platform, Xcalar 1.2, which gives the fastest, easiest, and most cost-effective access to actionable insights from big data.

FinTech Firm BillFront Has Arranged A $7.9m Financing Facility For A German Adtech Firm

Billy Wood – Bdaily

London and Berlin-based FinTech firm BillFront has help secure a significant multi-million dollar financing facility for German adtech business Fyber.


Why OFX Group Ltd Is Facing Big Competition From TransferWise

Tom Richardson  – The Motley Fool

Ever since international money transfer business OFX Group Ltd came to market at an initial public offer valuation of $2 per share in late 2013 it has struggled to deliver on investors’ expectations.

Retail banking

Fintech No Threat For China’s Big Banks

Nisha Gopalan – Bloomberg

Chinese banks are in an unusually strong position, although you wouldn’t know it to look at their shares.

Latest Developments & Agreements

Crowdcube Amplifies Level39 With Smart Venture Opportunities


The newly formed partnership provides an exciting platform for startups and entrepreneurs within the Level39 family to access a wealth of knowledge, coaching and venture opportunities and take their fast-growth companies to the next level.

Israeli – Indian Partnership Seeks To Boost Start-Up Funds

Bysharon Udasin – The Jerusalem Post

OurCrowd and LetsVenture will work together to enhance international investment and business development prospects.

FinTech People

Women In Fintech 2017 Powerlist: Innovate Finance Opens Nominations

Madhvi Mavadiya –  Forbes

UK organisation and global fintech representative Innovate Finance has announced the opening for submissions to its 2017 Women in Fintech Powerlist.

via DNA India – Finova Capital has announced on-boarding Rahul Sahney and Anurag Agrawal as Chief Operation Officer and head of Credit and Operations.

via Finance Magnates – Cinnober secures Mattias Granlund As Deputy Chief Technology Officer

FAO: Cinnober has been hiring intensively in the first half of 2017.

Accelerators & Hubs

Hong Kong’s Future Is In Learning Mew words: Fintech, Regtech, Wealthtech

Zen Soo – South China Morning Post

Long considered a global financial services hub, Hong Kong has all the conditions needed to create a tech hub, but it just needs to change its DNA.

DNT: And it’s learning fast…

The Next Silicon Valley? Where To Place Vietnam On The Global Startup Map

VN Express

Vietnam has quickly declared itself an aspiring startup nation, but myriad challenges are now giving dreams and ambitions a sobering reality check.

Luxembourg And Singapore Fintech Hubs Connect


The LHoFT, Luxembourg House of Financial Technology, and LATTICE80, the world’s largest Fintech Hub located in Singapore, are excited to have signed a Memorandum of Understanding at Money 2020 Europe, setting a foundation for collaboration between the two centres.

Wayra UK Launches Accelerator To Tackle The ‘Poverty Premium’

Natasha Lomas – Tech Crunch

Wayra, the Telefónica backed accelerator network, is launching a new startup program in the UK that aims to tackle the so-called ‘poverty premium’ — whereby people on low incomes pay more for some goods and services.

Associations & Federations

Hong Kong Gets Its Own Fintech Association


The FinTech Association of Hong Kong was officially launched to champion an open, inclusive and diverse FinTech community in Hong Kong.

FAO: Hip hip….


Credit Karma Touts $500 Million In Revenues

Ryan Lawler – Tech Crunch

It turns out that you can make a lot of money by giving stuff away for free. That’s the lesson from Credit Karma, which today is announcing that it’s running its business profitably after earning $500 million in revenues last year.

FAO: Since its inception the company raised a total of $368m in six rounds from 12 investors.

Can Cash Be Crushed? Multi-Country FinTech Survey Finds Many Adults Still Rely On Paper Money

PR Newswire

FinTech survey also reveals Israel to be an early-adopter with Israeli adults being more likely than many to use mobile banking apps (50 percent) and mobile wallets (27 percent)

Cyberattacks Among Potential Risks Of Growing Reliance On Fintech: report

The Globe and Mail – Joyita  Sengupta

Regulators are being warned of the increasing risk of cyberattacks as the use of financial technology becomes more widespread and banks use third-party services.

Why This FinTech Firm Reminds One Analyst of Tesla

Emily Bary – Barrons’s

In a new note, an analyst calls credit-card processor Square “the Tesla of Payments.”


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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News