by Florin Oprea
Jeremy Kahn – Bloomberg (subscription)
Steve O’Hear – TechCrunch
TransferWise has announced $280 million in new investment. The Series E round is led by asset management firm Old Mutual Global Investors, and Silicon Valley VC firm IVP, and also includes some secondary share dealings, meaning that not all of the cash will register on its balance sheet.
Martin Arnold – Financial Times (subscription)
Britain’s leading Fintech start-ups are celebrating a record-setting week as they accelerate their push to take market share from high-street banks in areas such as payments and lending.
FAO: Yip, see TransferWise, above, and also Funding Circle, which carried out £114m of net new lending in the three months to September, exceeding the net new lending to small businesses by the main banks…Ever wonder why Barclays’ boss keeps showing up everywhere lately? Check yesterday’s bulletin.
Tom Groenfeldt – Forbes
Ahead of Sibos Ripple had announced that more than 100 financial institutions, including Credit Agricole, Currencies Direct, RAKBANK and TransferGo, had joined its enterprise blockchain network, RippleNet.
Edward Robinson – Bloomberg (subscription)
Citigroup has agreed to provide a fintech firm called LendInvest with funding for mortgages.
FAO: …and it plans to securitize and sell the loans funded by Citigroup…hmmm. LendInvest is one of the largest non-bank mortgage lenders in the UK. It has attracted more than $380m in funding from investors since its launch in 2013.
Orchard Platform’s online lending industry data and insights will be made available to Bloomberg terminal subscribers, providing a wealth of information on an asset class that offers a number of potential investment opportunities.
FAO: Read a profile of Matt Burton, Orchard’s CEO, in this July edition.
Cashplus said it will soon apply for a UK banking licence as part of the British “fintech” firm’s plan to step up its challenge to traditional banks.
FAO: Good, the future is bright for fintech, and banks know it very well.
Via PR Newswire – Equinix Reported Q3 2017 Results – Quarterly up 25% YoY to $1,152m, 13 new expansion projects announced across all three regions totaling $615m
Accelerators & Hubs
Nate Lanxon – Bloomberg (subscription)
Mayor of London Sadiq Khan has announced a new program of investment days for London startups, as he tries to maintain the U.K.’s position as a European hub for young tech companies.
DNT: I am quite impressed by the efforts London officials take in order to keep the city as the main hub for fintech after Brexit. And it’s not just the talk, as you can see. It’s getting quite “Sadiq” for the competitors…More in our Archive.
JD Alois – Crowdfund insider
The 2017 EY FinTech Australia Census indicates that Aussie Fintech companies experienced a 200% annual median revenue jump in contrast to year prior.
FAO: No wonder, especially after all the support from the government etc. Read more in our previous editions – use the Archive.
FAO: Florin Adrian Oprea, Editor-in-chief FinTech Daily News
DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News