by Florin Oprea
Naspers said that its fintech investment division, PayU, is leading a funding round worth up to US$115m (R1.6bn) in Remitly, an independent digital remittance company focused on the North American market.
FAO: Since it was founded, in 2011, Remitly has raised a total of $215m, including the above round.
Joji Thomas Philip – Deal Street Asia (subscription)
Singapore-listed Artivision Technologies has agreed to buy local fintech firm MC Payment for a minimum of S$80 million ($59 million), the companies announced, in what will be amongst the largest exit amongst startups in this space in the city-state.
CircleUp announced CircleUp Growth Partners, a $125 million venture fund power by technology which invests in innovative, early-stage consumer and retail companies. The fund closed at its hard cap and was oversubscribed.
FAO: The latest funding round in the CircleUp itself, a $30m Series C in 2015, was led by Collaborative Fund.
Ingrid Lunden – TechCrunch
With “thousands” of entrepreneurs from 125+ countries using Atlas, Stripe is expanding it with a new feature as it hones its focus on being a platform for startup services. Companies that are signed up to Atlas (which costs $500) can now also use it to set up the legal paperwork and issue stock to founding teams.
FAO: Last month Stripe launched its “Elements” service – more here.
Ryan Browne – CNBC
A digital invoice finance platform in the U.K. will provide business loans to its customers for the first time. Fintech company MarketInvoice enables businesses to sell their unpaid invoices to provide working capital.
FAO: Discussing MarketInvoice’s steps into business lending. The Brits launched a dedicated service earlier this week. We reported it yesterday.
Activehours, the mobile app that gives people access to their pay directly from their smartphones, whenever they need it, has rebranded as Earnin.
FAO: Activehours activated itself after the $39m investment round it announced in September (reported here). The round was led by Andreessen Horowitz.
Tony Yoo – Business Insider
The founder of UK startup Atom Bank says Australia is ready for a rise in new fintechs that will challenge the dominance of CBA, Westpac, ANZ and NAB.
FAO: Yip, the whole world is ready for the fintech revolution.
JD Alois – Crowdfund Insider
DNT: Some interesting thoughts about disruptive technologies and cryptos from Jerome “Jay” Powell, a current Federal Reserve Governor, the favorite of Trump administration for FED chairman position.
FAO: What will Jay do? Here’s the most important question of the year.
Emma Dunkley – Financial Times (subscription)
Jes Staley, the chief executive of Barclays, has reaffirmed the UK bank’s commitment to keeping its capital markets business in London following Brexit, as speculation mounts over the future of the City.
FAO: Staley has been very active lately. He showed up recently to talk about defending the bank’s payments business from the “aggression” of Amazon and Apple.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News