FinTech Daily News – Edition 67, 06.10.2017
October 6, 2017
FinTech Daily News – Edition 69, 10.10.2017
October 10, 2017

FinTech Daily News – Edition 68, 09.10.2017

FinTech Daily News

by Florin Oprea

Edition 68, 09.10.2017

Deals, Investments & M&As

ComparaOnline Secures $14 Million USD Series C Round Investment

Jared Wade – Finance Colombia

Chilean financial industry startup ComparaOnline has secured $14 million in a series C investment from Singapore-based private equity firm Bamboo Capital Partners and the World Bank’s International Finance Corporation.

FAO: Total funding reaches $33m in four rounds.

Payments

Blockchain Startup Circle To Launch Open Source Project To Send Money Like Email And Text

Laura Shin – Forbes  

The Boston-based company announced that it is offering up the technology needed to enable global peer-to-peer payments.

FAO: Circle launched ops in France and Italy earlier this year.

DNT: That’s cool.

Lithuanian Fintech Startup TransferGo Starts Operations In China

Zhou Xin – Xinhua

TransferGo, Lithuanian money transfer services startup, has started operations in China. One of Lithuania’s biggest startup companies explains the move is based on intensifying economic cooperation between Lithuanian and Chinese companies.

FAO: TransferGo was backed by Vostok Emerging Finance in the last two funding rounds, in 2016 and 2017. The Lithuanians raised more than $10.5m in a total of seven funding rounds.

DNT: Good luck to the Lithuanian startup! China is the land of opportunities for startups which are investing in fintech.

Pay With Venmo’ Optimism Sends PayPal To Record High

Wallace Witkowski – Market Watch

PayPal hit an all-time intraday high and closed at a record after an analyst voiced hope for Venmo’s expansion from a peer-to-peer payments service to include potentially millions of merchants.

Insurance

ZhongAn Shares Soar Nearly 60% Since Trading Debut, Pumped Up By Appetite For ‘Sexy’ Fintech

Laura He – SCMP

Shares in Hong Kong’s biggest ever listed fintech company surged further on Friday, extending their gains since trading started last Wednesday to nearly 60 per cent.

FAO: So the newly listed ZhongAn became one of Hong Kong’s MVPs…

Regtech

Will Regtech Kill Bank Jobs?

Penny Crosman – American Banker

Technology and regulation are intersecting in ways that create uncertainty in a number of areas, but for those who work in compliance, the big question is whether advanced technologies like artificial intelligence and blockchain will ultimately replace people.

FAO: Will definitely replace a lot of them…

FinTech People

Startup Street: Emmanuel Macron’s ‘Startup Nation’ Bet Is Paying Off

Mahima Kapoor, Azman Usmani – Bloomberg

French venture capitalist funds get in the En Marche! mood. Tech giant Oracle has picked up startups from Mumbai and Delhi for its accelerator program. And Karnataka is pumping investments for artificial intelligence and data science startups.

FAO: As you all know by now, Macron is one of the most important supporters of Paris in challenging London’s leading position as a financial centre, and fintech & startup hub in Europe. Earlier this year (in July) Macron launched Station F,  the largest start-up incubator in the world. Competition is clearly growing…

Regulation

EU Raids Polish And Dutch Banking Groups Over Fintech Access

Mehreen Khan, James Shotter – Financial Times (subscription)

Brussels regulators have raided the offices of European banking associations in Poland and the Netherlands as part of an antitrust crackdown on lenders that block fintech rivals from gaining legitimate access to customer information.

FAO: COMPETITION, COMPETITION, COMPETITION….

Accelerators & Hubs

Accelerating Fintech In China

Joshua Bateman – TechCrunch

China’s expeditious adoption of fintech is generating profits not only for startups, but also the companies investing in them. Sitting in the headquarters of FinPlus, a fintech venture capital firm and accelerator, its CEO, Mosso Lau, said, “There are very many opportunities.”

FAO: Speaking of China – here is Jeffrey Kutler’s latest opinion piece in “Institutional Investor” – don’t miss his own comment published only in Fintech Daily News

Other news

Nordic Countries Offer Opportunities As Fintech Grows

Tom Holgersson – Independent

As a source of growth in both the Nordic and Irish markets, the fintech sector has become an important focus for innovation initiatives.

DNT: For example, according to the author of this story, in the race for attracting fintech investment in Europe, Stockholm is on the second position with 18%, overtaken only by London.

 

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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News