by Florin Oprea
Neil Unmack – Nasdaq
Europe’s latest fintech buyout faces a long payback. Hellman & Friedman is buying Danish payments group Nets for $6.6 billion including debt. It’s the latest private equity firm to ride the switch from cash to online payments, but Nets has been through the buyout machine before. Its new owners will have to roll up their sleeves.
FAO: Nets’ history goes back to the 60s…they went public about a year ago.
Tony Yoo – Business Insider
Peer-to-peer online lender RateSetter Australia has secured a $10.5 million capital raising round and has doubled its loan levels on 12 months ago.
FAO: The investment round was led by Five V Capital which put in $8.5 million.
Don Weinland, Oliver Ralph – Financial Times (subscription)
ZhongAn begins trading in Hong Kong this week, launching into public markets a hot emerging asset: the insurance technology, or insurtech, company.
FAO: It was HK’s biggest fintech listing, raised $1.5b – we reported it yesterday.
Tabby Kinder – Financial News (subscription)
On a sunny morning in early June a High Court judge and officials and lawyers from the UK’s tax revenue authority convened at BlackRock’s London headquarters for a demonstration. The event was a chance to show off BlackRock’s Aladdin software, the risk and operations platform that could be the future of the world’s largest asset manager.
Hugh Son, Jennifer Surane – Bloomberg
Wall Street’s robot revolution has begun. David Siegel, co-founder of quant hedge fund Two Sigma, is worried that machines will soon make swaths of the workforce obsolete. But all hope is not lost.
DNT: …Industrial revolution 4.0 is here! Very hot topic about the side effects of AI on the job market. Indeed US is investing big in this field. JPMorgan or Goldman Sachs are among the giants which embraced this “robot revolution”…and of course, there are many others. It is said that the technological progress will cut 30% of banking jobs…But technology is also creating jobs. It’s like any other industrial revolution. It will be accepted.
FAO: You don’t have to dedicate a lot of time for research to find out there is only one direction and the financial world has already chosen the path. Read the previous section’s story – it’s about BlackRock’s Aladdin software… Robo advisors are already rocking the markets, with Betterment, now valued at $800m, and Wealthfront, valued at $700m, competing for launching their IPOs and with Vanguard and Charles Schwab starting to drive growth in the robo-advice space.
A group of equity analysts at Morgan Stanley issued an analysis a few months ago (reported here during our soft launch) forecasting that global assets managed by robos could reach $13 trillion by 2025, up from $100 billion in December 2016.
Via The Times – Michael Cawley, former deputy CEO of Ryanair, was appointed Chairman of Linked Finance.
Adopting Fintech Is Saving UK Businesses £4.6bn, According To MarketInvoice
Harry Banks – City A.M
Nearly two-thirds of UK businesses are adopting fintech and making significant savings as a result, according to a survey conducted by business finance firm MarketInvoice.
FAO: London based MarketInvoice raised a total of $29.74m in equity funding since it was founded, in 2010.
Seha Yatim – Today Online
Singaporeans, while technologically savvy, are apprehensive about the prospect of becoming a cashless society — a point made by Prime Minister Lee Hsien Loong at the recent National Day Rally.
FAO: Interesting read about how Singapore’s aim to become a cashless society could also add momentum to its fintech sector. Singapore is a constant presence in our newsletter. There is a growing competition in the region, as you all know by now, with the city-state facing more and more actions from their direct competitors: Hong Kong, Sydney, Dubai etc.
Sebastian Nevols – Wired
Station F, a 34,000-square-metre space that, since the end of June, has played host to 1,000 small technology companies from around the world. Backed by a €250 million (£220m) investment from French telecoms billionaire Xavier Niel, Station F – aims to turn Paris into a global startup centre.
FAO: Speaking of competition in fintech, we slide to Europe’s scene …here’s one of London’s main competitors – Paris. Station F is Paris’ flagship and it was launched by President Macron earlier this year.
Krizzel Canlas – NZ Adviser
Kiwibank has partnered with Callaghan Innovation and Creative HQ to launch version two of its innovation programme.
Upcoming event: Immersion Tour Hong Kong FinTech Week, 23-27.10.2017 – details HERE
Upcoming event: Immersion Tour Singapore FinTech Festival, 14.-16.11.2017 – details HERE
FAO: Want even more details regarding these events? Don’t hesitate to contact us…
Upcoming event: Index Ventures is coming in force to TechCrunch Disrupt Berlin this December – details HERE
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News