by Florin Oprea
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.
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.
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.
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
Capital will fund continued development of leading platform for dynamic business talent.
FAO: Previous name of this company was cooler – “Hourly Nerd”.
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.
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.
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.
Nisha Gopalan – Bloomberg
Chinese banks are in an unusually strong position, although you wouldn’t know it to look at their shares.
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.
Bysharon Udasin – The Jerusalem Post
OurCrowd and LetsVenture will work together to enhance international investment and business development prospects.
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.
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…
Vietnam has quickly declared itself an aspiring startup nation, but myriad challenges are now giving dreams and ambitions a sobering reality check.
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.
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.
The FinTech Association of Hong Kong was officially launched to champion an open, inclusive and diverse FinTech community in Hong Kong.
FAO: Hip hip….
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.
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)
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.
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