by Florin Oprea
Mark Kleinman – Sky News
IVP, whose roll-call of deals includes Snapchat parent Snap, Twitter and Netflix, is close to a deal to invest tens of millions of pounds in TransferWise.
FAO: TransferWise launched the “Borderless” service earlier this year – we reported this in May. The company had a fantastic development and it’s absolutely natural to attract more and more important backers.
Sarah McBride – Bloomberg
Lewis is the second partner to depart in recent months from the fund, launched 12 years ago by PayPal co-founder Peter Thiel. Luke Nosek left to start an investment fund called Gigafund that will help Space Exploration Technologies Corp., the rocket company founded by Elon Musk, raise money.
Lewis intends to raise more than $100 million for the new fund.
FAO: This adds to the plethora of new investment funds we reported in Blockchain Daily News.
Mamiko Fujita – Nikkei Asian Review
PayPal is aggressively expanding its payment network worldwide by forming partnerships with global players in various sectors. The moves are aimed at increasing convenience for users and expanding its customer base.
FAO: Among the new partners – Chinese search engine provider Baidu, Bank of America, JPMorgan Chase, Wells Fargo, Alphabet, Apple etc.
Jinshan Hong – Forbes
On August 4th, the People’s Bank of China (PBoC) mandated that mobile payment groups must channel payments through a new clearing house by next June. Central bank-affiliated institutions are the largest shareholder (35%) of this newly established China Nets Union Clearing Corporation. Alipay and Tenpay account for 10% each.
FAO: We reported China’s move here. The agreement was signed with 44 financial firms that will need to connect to the clearing platform by October 15.
Chuin-Wei Yap – Wall Street Journal (subscription)
China’s tech titans are expanding into foreign markets, signing partnerships with merchants in Southeast Asia and Europe and looking to invest in payment systems in other countries.
FAO: Looks like the battle for world domination in fintech has begun. Giants are clashing everywhere.
Samantha Hurst – Crowdfund Insider
Aegon is set to invest in loans to UK small businesses through its lending platform. The partnership will notably see the financial service company fund £160 million of loans in the first 12 months under a framework agreement, with the intention to extend this step-by-step into a four-year funding program.
FAO: Interesting approach. Another win-win.
Emily Spaven – UKTN
UK FinTech firm Revolut has expanded its international team hiring country managers in 20 European nations including France, Germany, Spain, the Netherlands and Italy.
Alex Konrad – Forbes
Three and a half years after his return, Chris Wanstrath will step down as CEO of popular developer platform GitHub after leading the search to find his own replacement.
Wanstrath will continue as CEO until the new leader is found, at which time he’ll move into an executive chairman role.
Dan Peleschuk – Ozy
According to the IT Ukraine Association, an advocacy group, the nation has the world’s fourth-largest number of certified tech professionals (those who are specially trained to work with custom software). With around 100,000 specialists and more than 1,000 IT service firms across the country, the industry generated a whopping $3.2 billion in revenue last year, according to Oleksandr Kubrakov, the director of IT Ukraine. “It’s growing faster than all other industries.”
FAO: Hmm…Interesting numbers. I think the entire Eastern Europe is an important “brain pool” and there has been a significant “brain exodus” in the region states in the early 2000s. Fortunately a lot of these states have implemented vital changes in their legislations in order to prevent the phenomenon from growing.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News