by Florin Oprea
Crystal Tse – Bloomberg
Quant, a financial technology firm backed by Chinese movie stars, has picked JPMorgan Chase and Morgan Stanley to advise on a planned U.S. IPO that could raise about $200m.
FAO: Another “Asian week” in Fintech Daily News? Quite possible…
Oscar Williams-Grut – Business Insider
Thiel’s fund Valar Ventures led the round, which also included funding from e.ventures, and La Famiglia, a European venture capital fund backed by entrepreneurs.
FAO: A good week for “insurtechs” – see yesterday’s coverage too…
Andhra Pradesh is creating a Rs 500-crore (USD 79m) fund by March 2018 which will be investing in startups in the emerging financial technologies space.
The fund is a part of government efforts to create a ‘Fintech Valley’ in Vishakapatnam, wherein it is trying to create an ecosystem with research and development, and also delivery-based work in areas like blockchain, artificial intelligence, machine learning and data analytics.
FAO: India’s Andhra Pradesh is a state bordering the country’s southeastern coast with Vishakapatnam (aka Vizag) being the largest city.
Payments and financial technology company OMA Emirates Group announced the launch of a dedicated fund for emerging and potential financial technology companies and startups in the country.
FAO: India, again…
Saheli Roy Choudhury – CNBC
People are reluctant to steer away from cash due to a lack of available information on digital wallets.
FAO: Interesting and useful research study from PayPal. 4,000 people in China, India, Hong Kong, Singapore, Thailand, Philippines and Indonesia were surveyed in the study. It partly shares the FinTech Adoption Index stats (reported here).
AJ Vinayak – The Hindu Business Line
Rajkiran Rai G, MD & CEO of the bank, said that sourcing of retail loans is now driven by the branches and the marketing wing.
FAO: Just like China’s big banks did…check yesterday’s coverage in “Retail banking”.
Nathan Vardi – Forbes
The top two executives of Mozido, Todd Bradley (CEO) and Scott Ellyson (CFO), have quietly left the company.
FAO: Mozido has raised a total of $307.16m in four funding rounds in the last six years.
A rash of sexual harassment scandals this summer involving venture capitalists has laid bare a major weakness in laws meant to protect workers from unwelcome advances.
California legislators are proposing a change that would cover these types of interactions, creating the prospect of a wave of lawsuits against VCs. Changes to California law would also provide a template for other states.
FAO: Interesting effects of this summer’s series of scandals (started in July) in Silicon Valley…
Abigail Klein Leichman – Israel 21
Ram Shoham from Israel and Maria Pennanen from Finland founded Accelerator Frankfurt to provide that foot in the door for handpicked B2B fintech startups. Each cohort of eight, by design, includes two or three Israeli startups.
JD Alois – Crowdfund Insider
The Federal Council of Switzerland is out with a note regarding Fintech. Federal Councillor Ueli Maurer is apparently doing a swing through the Swiss Fintech scene to improve awareness and relationships.
Via PRNewswire – LendingClub Investor Day in New York City on Thursday, December 7, 2017.
Laura Shin – Forbes
For two years, Forbes has published the Fintech 50 list, showcasing the top companies shaping “the future of your money.” (See the 2015 and 2016 lists.) and is about to begin updating the list for the third year.
FAO: I think we could easily have a FDN Top 50 too…
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News