FinTech Daily News – Edition 65, 04.10.2017
October 4, 2017
FinTech Daily News – Edition 67, 06.10.2017
October 6, 2017

FinTech Daily News – Edition 66, 05.10.2017

FinTech Daily News

by Florin Oprea

Edition 66, 05.10.2017

Deals, Investments & M&As

Aviva Just Made A Major Investment In Fintech Startup Wealthify, Taking A Majority Stake In Robo-Investor Platform

Lynsey Barber – City A.M.

The deal will see Aviva add Wealthify to its online services.

FAO: Robo-advisors are becoming acquisition targets. We know there are a few of them preparing their IPOs soon, like  Betterment, now valued at $800m, and Wealthfront, valued at $700m, and we saw a growing interest from major players like  Vanguard and Charles Schwab for the robo-advice space.

Today’s announcement is no surprise, since Aviva’s CEO, Mark Wilson, said earlier this year: “We want to turn Aviva into a fintech.” Aviva is actually hunting fintech companies – more here.

DNT: Major indeed for Aviva’s digital strategy. Congrats.

BlackRock Is in Talks for a Stake in a Fintech Company

Sabrina Willmer, Kiel Porter – Bloomberg

BlackRock is in discussions to invest in fintech company Capital Preferences Ltd. to help bolster its focus on retail investors.

FAO: There were some interesting statements of BlackRock’s CEO, Larry Fink. He appears in today’s Fans’ Section (Blockchain Daily News) – FIND OUT what kind of fan he really is…

Payments

Adyen Rolls Out Alipay In Stores Worldwide

Finextra

Adyen expanded its partnership with the world’s largest third-party mobile and online payment platform, Alipay, to enable retailers worldwide to easily accept non-cash payments from Chinese customers in store.

FAO: An expanded win-win…

$9 Billion Startup Stripe Has A New Plan To Make Shopping Online Less Frustrating

Matt Weinberger – Business Insider

Stripe launched Elements, a new service designed to make it super-simple for developers to build checkout forms on their apps and sites that actually work. It’s free for Stripe customers.

DNT: Great! Online shopping can be, sometimes a hard challenge.

Lending

Qudian Sets Price Range For U.S. Listing

Yang Ge – Caixin

Beijing-Based Qudian’s IPO Could Raise Up To $825 Million

Tomi Kilgore  – MarketWatch

Beijing-based Qudian, a provider of online credit products, disclosed Tuesday in a filing with the SEC that its IPO of American depositary shares is expected to price between $19 and $22 a share. With the company offering 37.5 ADSs for sale, it could raise up to $825 million.

FAO: Chinese companies are invading Western markets, as you all know. Qudian announced its intention last month.

Legal And General Backs “Anti-Wonga” Fintech Startup SalaryFinance In $53m Funding Round

Lynsey Barber – City A.M.

Legal and General has led a $53m investment into an innovative fintech startup which offers financing loans and savings people’s salaries.

FAO: Founded in 2015 SalaryFinance raised a total of $59.19m in equity funding in 2 rounds.

Wealth & Personal Finance

Artificial Intelligence Reshaping Wealth Management

Joel Schlesinger  – The Globe And Mail

Imagine a world where chatbots answer client e-mails regarding their investments, and software scours the Internet for the latest news, economic data and academic papers to create insightful investment reports. This might seem like the stuff of science fiction – albeit with a wealth management slant.

FAO: Yip, I think the world is already there.

Retail banking

Starling Bank Becomes Latest Challenger To Launch Business Account

Hunter  Ruthven – Real Business

Starling Bank has launched its Starling for Business service, designed for entrepreneurs, sole traders and small business owners – 15 months after gaining its banking licence.

SoFi’s Plan To Become the Bank Of The Future Isn’t Going So Well
Julie Verhage, Selina Wang – Bloomberg

Now, with Cagney felled by a flurry of sexual harassment allegations, the question is whether SoFi has any chance of building the financial supermarket he envisioned

DNT: Looks like hard times for Sofi’s plans…after the “sexual harassment saga” but, despite the turmoil, the company is still attractive for consumers. The firm reported revenue of $134 million in Q2..

Accelerators & Hubs

Berlin Vs. Britain: Entering An Entrepreneurial Utopia

Real Business

DNT: An interesting story that puts Berlin under the spotlight in an attempt to find out why the city is so attractive to entrepreneurs.

FAO: One of London’s main competitors – check our Archive for more related coverage.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News