by Florin Oprea
Michael J. de la Merced – NY Times
SoftBank and its $93 billion Vision Fund are investing in WeWork. Most of the investment, or $3 billion, will go to WeWork itself. The remaining $1.4 billion will go toward expanding the start-up’s operations in China, Japan, South Korea and Southeast Asia more broadly.
FAO: Recently WeWork started legal action against UrWork in London.
According to a recent SEC filing, Ellevest has raised $32.5 million in financing from an undisclosed investor.
FAO: Ellevest has raised a total of $51.46m in three funding rounds, in the last two years.
Jamie Hyman – Waters Technology (subscription)
The FCA has granted the following entities APA authorization: Abide Financial DRSP Limited, Bats Trading Limited, Bloomberg Data Reporting Services Limited, the London Stock Exchange, Tradeweb Europe Limited and Xtrakter Limited (now rebranded as Trax).
Via TechCrunch – Zenefits hired Beth Steinberg as its first chief human resources officer.
Via PRWeek – BlogHer co-founder and former CEO Lisa Stone is joining Ellevest, an online investment platform for women, as CMO.
Dan Andersson – Huffington Post
Brexit is clearly Britain’s main preoccupation, it will affect every sector, some will benefit, some I fear may not do so well in the long-term. The fintech sector relies on foreign talent to drive its businesses, many of these businesses are born global and so depend on the skills, knowledge and experience of Europe’s graduates to power their growth in the EU, the world’s largest economy.
FAO: More Brexit talk, and potential consequences for the global fintech players.
JD Alois – Crowdfund Insider
CBInsights is out with a brief write up that compares the two countries. Germany is the larger economy in comparison to the Brits. In the world ranking of GDP in Dollars, Germany is number 4 and the UK is in 5th. But when it comes to Fintech, the Brits are victorious.
But Germany is no slouch and in recent years from Berlin to Munich there has been a growing interest in disruptive finance.
FAO: This adds to the cohort of FDN editions covering and discussing the competition between UK and Germany (and France too) for the “domination” of Europe’s fintech scene. Try our Archive…
Shiwen Yap – Deal Street Asia
SparkLabs Group, a South Korean accelerator and fund network established in 2012, is launching a $50-million fund targeting early-stage Korean startups with the potential to expand internationally.
Klarna reported a net profit of 228 million crowns ($28.4 million) for H1 2017.
The firm, which has 1,500 employees and operates in 18 countries, increased revenues by 21% and net profit by 138% from a year earlier.
FAO: Very good results for the Swedish fintech leader which secured a banking license in Europe earlier this year.
Sindhuja Balaji – Forbes
India’s booming fintech market could be the savior of SMEs and MSMEs.
Anita Balakrishnan – CNBC
The sky-high valuations in Silicon Valley have left some investors jittery. Hoffman says finding the right pricing for a deal is just part of the challenge of investing.
FAO: We have a very good year for VC funding. Last week was amazing – e.g. Blend raised $100m (reported on Friday).
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News