FinTech Daily News – Edition 43, 31.08.2017
August 31, 2017
FinTech Daily News – Edition 45, 04.09.2017
September 4, 2017

FinTech Daily News – Edition 44, 01.09.2017

FinTech Daily News

by Florin Oprea

Edition 44, 01.09.2017

Deals, Investments & M&As

BitPesa Secures Greycroft As Lead Investor For $10 Million Total Funding

Laura Shin – Forbes

African payments company BitPesa has received follow-up funding to its Series A led by Greycroft Partners, the venture capital firm with experience investing in payment companies such as Venmo and Braintree.

FAO: Till date BitPesa raised a total of $10m in 5 funding rounds.

Credit Suisse Fintech Fund Invests In Employee Monitoring Firm

Finextra

Credit Suisse’s fintech fund has made a majority investment in Sapience Analytics, an Indian firm that helps firms monitor how employees use their computers and phones. Financial terms were not disclosed.

FAO: $8.15M raised by Sapience since 2011.

Fintech Firms Unrelated To Acquisition Offer Running Commentary

Antony Peyton – Banking Technology

For reasons that probably lie in the lack of a marketing and sales budget, the acquisition of payments provider Bantam Banana (don’t ask) by fintech behemoth Moby Trick (founded by Merman Helville) has prompted a flurry of comments from companies that have sweet F.A. to do with the event.

Payments

PayPal Launches Its First Cash Back Credit Card To Boost PayPal Usage In Stores

Sarah Perez – TechCrunch

PayPal is launched a new credit card, the PayPal Cashback MasterCard – its first card to offer shoppers direct cash back on purchases, instead of points that vary by category. The card, introduced in partnership with Synchrony Financial, will offer 2 percent back on purchases, with no annual fee, no minimum redemption amount, no restrictions on how to spend cash rewards, and no expiration.

FAO: A note on PayPal website says: “Subject to credit approval. You must be at least 18 years old and reside in the US or its territories to apply.”

Lending

FinTechs Give Banks A Wake-Up Call With Loan Disbursements

PYMNTS

With a growing number of FinTech players competing in the lending space, small businesses now have improved access to a range of loan options — and, in most cases, funds are disbursed in as little as 24 hours.

Cap Markets & Other

China’s Crowdfunding Platforms Kaistart, Shuidi Raise Funding

Chalida Ekvitthayavechnukul – Deal Street Asia

Kaistart has secured RMB190 million ($29 million) in a series C round led by Jack Ma-backed venture capital firm Yunfeng Capital. Certain Capital also joined the round.

Shuidi, a healthcare crowdfunding platform on WeChat app, is raising RMB160 million ($24 million) in series A round led by Tencent Holdings and BlueRun. Sinovation Ventures, Banyan Capital, IDG Capital, Meituan-Dianping and Tongcheng Foundation also participated.

FAO: OMG, just look at the author’s name…no offense, but that is the most complicated name I have ever seen…and I read a lot of stories…

FinTech People

Sequoia Capital is Running a Mentorship Program for Hundreds of Silicon Valley Women

Michal Lev-Ram – Fortune

Silicon Valley venture capital firms haven’t exactly been models for gender equality—especially in light of the recent spate of sexual harassment scandals that have plagued the industry. But at least some are trying to do their part to promote more inclusion of women in the tech field.

FAO: Laudable initiatives, worth reporting in FDN. Great to finally hear some good news from the scandal-hit Silicon Valley…

Regulation

How Red Tape Stopped Fintech Startups From Taking Over

Globe

A few years ago, when startups began using technology to offer financial services to customers at a fraction of the costs charged by banks, Bill Gates’ observation in 1994 that while “banking is essential, banks are not” seemed eerily prescient. Amazon had already revolutionised the retail industry and Facebook and Google how we communicate and consume information. Fintech startups dreamed of doing the same to banking. But reams of red tape mean that many will struggle to make those dreams a reality.

Accelerators & Hubs

Singapore Must Look to Fintech, China For Growth

Nikkei Asian Review

The banking sector of Singapore must embrace fintech and other innovations as the financial industry changes due to disruptive forces, said Heng Swee Keat, the city-state’s minister of finance and the chair of the Future Economy Council.

FAO: I am sure they are already doing it…Singapore is all over the place in our newsletter…

Events

Via PRNewswire – First LATAM Conference on the Future of Digital Payments, Sept. 7-8 in Lima, Peru

Via Crowdfund InsiderSeedInvest and LendIt, the roving global Fintech conference, have partnered on live crowdfunding for the upcoming LendIt Europe event scheduled for this coming October.

 

FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News