by Florin Oprea
$7 million in Series A funding led by Lightspeed Venture Partners. Index Ventures and Shasta Ventures also participated alongside existing investors Y Combinator and Ron Conway’s SV Angel. Nakul Mandan, Partner at Lightspeed Venture Partners, will join the People.ai board of directors.
FAO: AI powered sales management.
Matt Turner – Business Insider
The German bank is investing in fintech startups. It just opened a fourth innovation lab, this time in the financial district in New York.
FAO: Other banks are “making big bets”: JPMorgan Chase, Barclays, Wells Fargo, Citibank etc.
Billy Wood – BDAILY
Peer to peer lender RateSetter has closed a £13m funding round led by Neil Woodford and Edinburgh-headquartered fund manager Artemis.
The funding sees both investors increase their backing for the firm, which has forged ahead as one of the market leaders in the alternative finance space since its launch back in 2010, and comes just days after RateSetter received full authorisation from the FCA along with its Funding Circle and Zopa.
FAO: RateSetter is known for having introduced the concept of a “Provision Fund” into peer to peer lending. The money in the Provision Fund comes from charges paid by borrowers. RateSetter is able to direct the Provision Fund trustee to compensate a lender in the event of a borrower late payment or default.
Randall Smith – NY Times
Next month, hoping to add momentum, Orchard plans to unveil its own trading platform for loans., eight months later than first planned.
FAO: The company managed to raise $44.7M in three funding rounds (2013-2015).
via Business Insider – Tommaso Zanobini as its global head of financial technology, based in New York. He was most recently the global head of financial technology and services at Jefferies, and he was previously the global head of technology services at Barclays.
via Finextra – Michael Grecoff, Head of Americas and International Sales at Cinnober Financial Technology has left Cinnober to fully focus as co-founder and CEO of DAHU Technologies.
via WHICH – 50 – PayPal has tapped Anthony Drury to fill the newly created role of Director, Enterprise Business, PayPal Australia.
Ashley Fahey – Charlotte Business Journal
In the coming months, Credit Karma plans to hire up to 60 employees, mostly in software engineering and other technical positions.
FAO: Credit Karma is a personal finance company which provides credit scores and other financial-management tools.
Jeffrey Kutler – GARP
While receptivity to innovation has become a common theme, risks and pitfalls are never far from the surface.
FAO: Article signed by Jeff Kutler – the editor-in-chief of Risk Professional magazine, published by GARP (Global Association of Risk Professionals). A very interesting piece, also pertinent for our sister publication Blockchain Daily News.
Babu Das Augustine – Gulf News
FinTech Hive at DIFC, the region’s first FinTech accelerator launched by the Dubai International Financial Centre (DIFC) earlier this year, has received over 100 applications from more than 32 countries for its inaugural programme.
FAO: Earlier this week we reported that Dubai FSA launched the Innovation Testing License for fintech firms.
The Tech Portal – Kajal Joshi
It will connect businesses with partners and relevant people on the ground who will assist them in capturing growth opportunities and expand into key markets. This will be executed via PwC’s Global Gateway including innovation hubs in Asia, Silicon Valley, Europe, and Israel.
Julius Bizimungu – New Times
The National Bank of Rwanda monetary policy and financial stability statement for 2016 indicates that there have been significant changes caused by the growth of mobile financial services and Internet banking between 2015 and 2016. It shows that the number of active mobile money subscribers rose by 34 per cent from over 2.5 million subscribers to more than 3.3 million users, while the penetration rate of access points (agents) increased by 48 per cent over the period.
Money 20/20 Europe – 26-28 June, Copenhagen – AGENDA
Daniel Lanyon – altfi
Research from Fintech Global shows that despite the Brexit vote investors continue to commit more capital to UK fintech companies.
After London, Scotland boasts the UK’s next two largest international financial hubs in Edinburgh and Glasgow. The sector contributes more than 7 per cent of Scotland’s GDP and employs about 85,000 people, with a further 70,000 working in associated professional services. Combined with the more than 90,000 people employed across the country’s digital technologies arena, the catalyst for growth is clear.
FAO: Last week the Scottish Financial Enterprise’s FinTech Steering Committee this week held talks on creating the country’s first major FinTech Hub.
A bold new venture to encourage green digital finance initiatives has been launched at the G20 Green Invest symposium currently taking place in Berlin -Stockholm Green Digital Finance.
Madhvi Mavadiya – Forbes
In 10 days, the United Kingdom will vote in the snap general election which may result in a party other than the Conservatives, perhaps Labour or the Liberal Democrats, take power. Ahead of election day on June 8th, I looked at the manifestos of these three parties and examined what their pledges would mean for the fintech industry and the country, as a whole, in terms of Brexit.