by Florin Oprea
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’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.
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.
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.”
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.
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…
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…
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.
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…
Via PRNewswire – First LATAM Conference on the Future of Digital Payments, Sept. 7-8 in Lima, Peru
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News