by Florin Oprea
Braavo Capital announced the completion of $70 million in financing, led by Mark 2 Capital.
Braavo Capital’s goal is to change the way mobile entrepreneurs finance and grow their app businesses.
FAO: Bravo Braavo!!!
Japanese investment bank Nomura has set aside $100 million to invest in promising startups from a new innovation office in San Francisco.
FAO: Silicon Valley’s money magnet grabbed another $100m.
Liana B. Baker – Reuters
Chinese payments company Ant Financial is planning to resubmit its application for U.S. review of its deal to buy MoneyGram International for $1.2 billion.
FAO: We have covered the previous steps in our daily bulletin. Have you tried our Archive?
Larry Alton – Newsmax
The UK might be ahead of the game when it comes to startups making consumer life easier. A Fintech startup, ClearScore is about to become a consumer’s best friend. ClearScore is a tool that helps consumers manage their financial data and access their credit report — without having to pay for it.
Enoch Yiu – South China Morning Post
A planned US$1.5 billion share offer in Hong Kong by Chinese online insurance broker Zhong An Online P&C Insurance, the largest ever by a fintech company in the city, could help Hong Kong improve its attractiveness as a destination for technology IPOs.
FAO: Offer starts today…
Anna Irrera – Reuters
Credit Karma Inc is launching a new free service that will alert customers if their identity data has been compromised in hacks, the San Francisco-based fintech company said on Friday in the wake of massive breach at credit monitoring agency Equifax Inc
Financial Times (subscription)
SoFi’s application to become a bank has almost no chance of approval in the wake of a sex scandal that forced out its chief executive, says a close adviser and former chairman of the Securities and Exchange Commission.
DNT: SoFi applied to the Federal Deposit Insurance Corporation in June for a special charter from the state of Utah…It seems that the recent scandal put this on hold for a while…
Global data center service provider, Equinix Inc. announced that it has opened the 13th International Business Exchange (IBX) data center – SV10 – in the Silicon Valley. The new center will enable the company to meet the growing demand for data center services in this region.
FAO: Should we change the name of this section in “Equinix and others”? Equinix has been very busy lately, expansion is in full swing…
Katie Banner – New York Times
Social Finance, a privately held online lender and technology start-up, said on Friday that Mike Cagney would step down immediately as chief executive, accelerating a departure announced last week amid a sexual harassment scandal.
DNT: It appears that Tom Hutton, the executive chairman, would be the interim chief executive.
Julia Horowitz, Danielle Wiener-Bronner – CNNMoney
In response to a CNNMoney inquiry, the company said Susan Mauldin is retiring as chief security officer and Dave Webb is retiring as chief information officer.
FAO: Coincidence or not… Equifax announced last week that a security breach may have exposed the personal data (names, Social Security numbers, birth dates, addresses and some driver’s license numbers)of up to 143 million people.
DNT: After that leak, Equifax is under investigation by the FBI and the Federal Trade Commission.
West Bengal Housing & Infrastructure Development Corporation (HIDCO) has floated Expression Of Interest (EOI) for a Fintech hub in the Central Business District (CBD) of New Town.
FAO: New “accommodation” for the flourishing Indian fintech sector…
According to a new market research report, the market size is expected to grow from USD 1,337.7 Million in 2017 to USD 7,305.6 Million by 2022, at a Compound Annual Growth Rate (CAGR) of 40.4%.
Ma. Lisbet, K. Esmael
Philippine financial technology (fintech) companies should take advantage of growing market opportunities by taking aggressive action, market intelligence and advisory services provider International Data Corporation (IDC) said.
Paresh Davdra – City A.M.
Half the world is unbanked. That’s the provocative title of a 2009 research paper published by the Financial Access Initiative (FAI), a consortium of researchers from New York University, Harvard, Yale and Innovators of Poverty Action.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News