by Florin Oprea
Robert Hackett – Fortune
A Bitcoin company has finally attained the “unicorn” title, an honorific bestowed upon startups valued at more than $1 billion. Coinbase has raised $100 million at a private valuation of $1.6 billion that includes the capital raised.
FAO: Lead investors were IVP (Institutional Venture Partners). I am sure a lot of other companies will follow this successful track.
DNT: Nice. Congrats to Coinbase!
Investment firms Sequoia Capital and US-based Norwest Venture Partners have led a round of Series C funding in Chennai-based lending company Five Star Business Finance.
FAO: Looks like the “fintech money monsoon” in India.
Steve O’Hear – TechCrunch
Railsbank, a relatively new fintech startup co-founded by CEO Nigel Verdon, who previously founded money exchange and payments platform Currencycloud, has raised $1.2 million in a funding round led by seed investment firm Firestartr.
FAO: Good luck to Nigel Verdon and his team. I am sure we will hear more from Railsbank.
Steve O’Hear – TechCrunch
Glint, a stealthy London fintech startup that promises a new “global currency,” has raised £3.1 million from a plethora of individual backers in the financial services and asset management space, alongside early-stage investor Bray Capital.
FAO: Interesting project. We will keep an eye on it.
Santander’s fintech venture capital fund has joined a $13.9 million Series B funding round for New York-based digital identity startup Socure.
Ryan Lawler – TechCrunch
PayPal has agreed to acquire Swift Financial, which provides small business owners with working capital. Terms of the deal were not disclosed, but the acquisition will give PayPal better tools to expand its own Working Capital product.
FAO: Another good move from PayPal.
Suzie Neuwirth – Peer 2 Peer Finance News
Funding Circle has unveiled a new look comprising a redesigned website logo and motto.
The peer-to-peer business lender says its aim is to become the “first choice” for small businesses and investors globally, describing the “heart of the brand” as the phrase “made to do more.”
FAO: They had plenty of resources to fund this rebranding. In the latest funding round, closed last January and lead by Accel Partners, the company raised $100m…
Josh Ye – South China Morning Post
The giants of the banking world are starting to publicly acknowledge the dominance of mobile payment methods devised by Chinese technology firms – and, more broadly, a failure to keep up with fintech rivals in certain areas.
FAO: Yeah, but not the case of HSBC…The bank’s digital chief said last month that big banks facing an “existential crisis” from fintech challengers is “overblown”…
Melissa Batchelor Warnke – Los Angeles Times
It’s been a very bad summer for Silicon Valley bros.
James Damore, the Google engineer and author of the now-infamous memo on gender, “Google’s Ideological Echo Chamber,” was fired Monday.
FAO: Exactly when you started asking yourself how were they spending their summer in Silicon Valley…
Casey Hynes – Forbes
Marc Shoffman – Peer 2 Peer Finance News
LONDON may be home to many flourishing peer-to-peer lending platforms but it ranks pretty low down as a start-up hub compared with the rest of the world, research claims.
FAO: Looks like Singapore is the no. 1 startup city and it outranked San Francisco. There is no surprise for us, since our FDN sections are always hosting a Singapore story. A lot of action in the city-state and a very interesting competition on the region’s fintech scene, with HK, Australia and other players “showing muscles”.
Klaus Wille – Bloomberg
Singapore fintech hub Lattice80 plans to open an office in India by the end of next month, the first step in a global expansion that will spread to London, New York and the Middle East.
FAO: London, New York, Middle East are the next targets for Singapore’s Lattice80.
Addepar, the operating system for our financial world, today announced a strong second quarter and continued company momentum. Founded in 2009 by Joe Lonsdale, Addepar now supports 250 firms and $750 billion in assets on its leading investment management platform, a 33 percent increase since the beginning of the year.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News