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FinTech Daily News

by Florin Oprea

Edition #4, 25.05.2017

Deals, Investments & M&As

Fintech Startups Led The Funding Race Last Week

Nishant Sharma – Bloomberg Quint

Paytm bagged $1.4 billion from SoftBank last week but fund-raising by smaller startups remained muted. Eight companies together raised $10 million from angel investors and venture capitalists compared to $28 million by 14 startups in the week ago.

FAO: More coverage on Paytm deal; even more in our previous issues of FinTech Daily News.

Naspers Pours $5m Into Coins

Jon Russell – Tech Crunch

Naspers is making a push into bitcoin and financial services after it backed Philippines-based startup Coins.ph to the tune of $5m.

Coins is focused on offering financial services for the unbanked in the Philippines and Thailand. It uses the blockchain as its underlying technology to facilitate transfers and remittances. It announced the new funding — which comes via the Naspers Ventures division — as an extension to the $5m Series A round that it closed last October.

Tudor’s Jones Said to Back AI Hedge Funds CargoMetrics, Numerai

Simone Foxman – Bloomberg Quint

The hedge fund manager has invested in CargoMetrics Technologies, an investment firm that uses tools such as satellite signals and shipping data to trade commodities, currencies and equity futures. He’s also backed Numerai, a San Francisco-based hedge fund that makes wagers using anonymously submitted models.

Payments

Ant Financial Enters Hong Kong Market With AlipayHK Mobile Wallet

Zen Soo – SCMP

The mobile wallet and payments app, dubbed AlipayHK, is similar to its Chinese counterpart Alipay – registered users are able to top up their mobile wallets and make in-store payments that are settled in Hong Kong dollars at merchants such as Watsons, Fortress and at supermarkets like ParknShop.

Lending

Funding Circle Gets FCA Seal Of Approval (sub)

Financial Times

FAO: Funding Circle was UK’s first platform to use the process of peer-to-peer (P2P) lending for business funding.

FinTech People

Finance Magnates reports that Leverate, a technology provider specializing in brokerage solutions for the financial services industry, has parted ways with its Head of B2B Sales Peter Leonidou, who ends a two-year tenure with the technology provider.

Latest FinTech developments & agreements

Fintech Tools That Can Change The World Of Finance

Forbes Finance Council – Forbes

According to an EY study last year, fintech is growing in popularity, with roughly 15.5% of digitally active consumers using financial tech products — a figure that was likely to double within 12 months. The United States had the second-highest adoption rate of fintech tools (16.5%), following Hong Kong with 29.1%.

Members of Forbes Finance Council talk about their favorite fintech tools and software and how they can cause a shift in the current financial services market.

FAO: HK is a facinating place with a booming fintech sector.

Regulation

Dubai FSA Launches Innovation Testing Licence For FinTech Firms

MondoVisione

The restricted financial services licence will allow qualifying FinTech firms to develop and test innovative concepts from within the Dubai International Financial Centre (DIFC), without being subject to all the regulatory requirements that normally apply to regulated firms.

FAO: FinTech firms will be able to use the restricted licence to test an innovative product or service for 6 to 12 months.

Accelerators & Hubs

Manchester Emerges As FinTech Hotspot

huddled

The symbiotic nature of FinTech makes it the most exciting business revolution since the Industrial Revolution. Which brings us neatly to Manchester, a clear frontrunner when it comes to FinTech investment outside of London.

Handelsbanken Backs Stockholm Fintech Hub

Finextra

Stockholm Fintech Hub  announces the beginning of a strategic partnership with Handelsbanken, one of Sweden’s major banking institutions.