by Florin Oprea
Felipe Marques & Cristiane Lucchesi – Bloomberg
Nubank can now borrow as much as 455 million reais ($144 million) for about two years to finance its revolving credit portfolio, up from 375 million reais.
FAO: Nubank has raised about $178 million since its founding. Among its investors: Tiger Global Management, Sequoia Capital, Kaszek Ventures, QED Investors, DST Global and Founders Fund.
Connie Loizos – TechCrunch
The team behind Pattern, a two-year-old, Redwood City, Calif.- based startup, has been quietly acquired by Workday, the financial management and HR software vendor that went public in 2012 and now boasts a market cap of $20.9 billion.
FAO: Pattern’s cofounders Derek Draper, Zack Moy, and Josh Valdez, used to work for Google.
Jeremy Nobile – Crain’s Cleveland Business
Terms of the investment, including what stake Key holds in the company, were not disclosed.
FAO: Billtrust is a provider of automated invoice-to-cash solutions. Earlier this year it has raised $50 mln in a funding round led by Riverwood Capital.
PitchBook released its 2017 PE and VC Fundraising report today for North America and Europe. Through July, $27.5 billion has been raised across 165 firms as venture fundraising is on pace to exceed $40 billion for the fourth consecutive year. It’s also approaching the record $51 billion raised last year.
The Economist (subscription)
Ant Financial, with 500m customers at home, plans to expand.
FAO: We had multiple reports concerning the aggressive development plans of Ant Financial, yesterday too.
The National Law Review
Oracle has finally realised that it wants to hang out with the cool FinTech kids on the block, having recently announced the release of its Oracle Banking Payments application programming interface (API) service.
FAO: Is it? Better late than never?!??
Lora Kolodny – CNBC
A search start-up called ThoughtSpot revealed a new product: SpotIQ, which employs AI to create hundreds of insights from data in a company’s cloud or on-premise storage systems. These include charts that are tailored to the interests of a particular worker, team or executive.
FAO: Wow! New AI products begin to show up more frequently. ThoughtSpot raised $60 million earlier this year, with LightSpeed Venture Partners and Capital One Growth Ventures as lead investors.
Oscar Williams-Grut – Business Insider
German fintech Raisin has doubled the total amount invested over its platform since the start of the year, reaching €4 billion (£3.6 billion).
FAO: This Berlin based company raised a total of $64.16m in 3 rounds since its founding in 2013.
Via Business Wire – Zenefits appointed Lisa Reeves as SVP of product.
Via PRNewswire – Riskalyze appointed Andrew Palmer as CFO.
Sandhya D’Mello – Khaleej Times
The city has bagged second spot in a latest research conducted by CBInsights under the theme ‘Rise of the (global) rest – Identifying new startup and venture capital frontiers globally’ and has placed the UAE at the sixth spot in top 10 frontier markets among the countries that take .01 per cent and .5 per cent of global disclosed VC deals.
Angela Scott-Briggs – Tech Bullion
A recent report by KPMG suggests that Fintech startups are preferring Dublin to London as the uncertainty looms over the terms on which the UK will effectively leave the EU. Following a 2016 referendum vote in which the British voted to leave the 28 nations block, talks are underway to come up with the modalities for the actual exit of the UK.
FAO: Looks like everybody is rushing to grab a new piece of the post-Brexit “fintech pie” in Europe…
Royal Bank of Scotland is inviting tech entrepreneurs from across the world to its Edinburgh HQ to discuss the latest trends in technology and mingle with local fintech entrepreneurs, customers and bank staff at an event dubbed Disrupt 17.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News