FinTech Daily News – Edition 8, 13.07.2017
July 13, 2017
FinTech Daily News – Edition 10, 17.07.2017
July 17, 2017

FinTech Daily News – Edition 9, 14.07.2017

FinTech Daily News

by Florin Oprea

Edition 9, 14.07.2017

Deals, Investments & M&As

Marketing Data Startup Segment Raises $64M

Anthony Ha –  Tech Crunch

Segment has raised $64 million in Series C funding, with the Y Combinator Continuity Fund and GV leading the round.

FAO: Segment, co-founded by MIT dropouts Peter Reinhardt (CEO), Calvin French-Owen and Ilya Volodarsky, raised $27m in previous round (Series B), in October 2015. The round was led by Thrive Capital.

Micro-Investing Startup Stash Raises $40 Million

Anna Irrera – Reuters

Stash, a New York-based startup that lets individuals save small sums of money and make micro-investments through a mobile app, has secured a $40 million investment in a round led by fund manager Coatue Management.

FAO: Cool name! Existing investors Breyer Capital, Goodwater Capital and Peter Thiel’s Valar Ventures also joined the round.

Fintech Start-up Turnkey Lender Raises US$2 Million From Temasek Unit

Chia Yan Min – Straits Times

Singapore fintech start-up Turnkey Lender, which has developed an intelligent cloud software for lending automation, has raised US$2 million from Vertex Ventures, the venture capital unit of Singapore investment company Temasek Holdings.

Fintech CurrencyCloud Tapped Up Investors Months Before Google Raise

Oscar Williams-Grut – Business Insider

A fintech business backed by Google’s venture capital arm went to its investors for cash just months before raising money from the search giant, accounts show.

FAO: Ooops! Long story short: The company raised £9.5m from existing investors in December 2016 and books show it had £10.5m in the bank at the end of the month (December 2016). It results that it had £1m left in bank at the time of fundraising. It went on to raise another £10.5m from new backer Google Ventures in February and March 2017.

Qingdao Ronghai Leads $29M Round In Chinese Fintech Start-Up Hairongyi.Com

Pan Yue – China Money Network

Qingdao Ronghai State-Owned Asset Management Company, an investment entity owned by the state-owned asset management office of Licang district in Qingdao city, has led a RMB200 million (US$29 million) series A round in, a fintech start-up backed by Haier Financial Holdings.

FAO: News from the Eastern fintech front.

Cap Markets & Other

Vela To Acquire Object Trading

John D’Antona Jr. – Traders Magazine

Vela Trading Technologies LLC, a high performance trading, market data, and analytics technology firm, has signed a definitive agreement to acquire Object Trading, a global provider of a fully-managed DMA platform, pre-trade risk controls, and analytics applications.

FAO: Object Trading is connected to more than 60 global equity, derivative and FX exchanges  Vela recently bought OptionsCity Software (reported in June, during our soft launch). Vela Trading Technologies was known as SR Labs until June 2016. The company raised $53m in 2013 and acquired Wombat Financial Software from NYSE Technologies in 2014.

Nex Retreats On Political Donations After Investor Backlash

Financial Times (subscription)

Shareholders have barred Nex Group’s board from making political donations after the UK trading technology company backed five Conservative candidates at the general election.

FAO: Soap opera continues.

FinTech People

Via Corporate Counsel – Funding Circle  has named Richard Stephenson as its U.S. chief compliance officer.

Former Flipkart COO Challenges Removal, Sends Legal Notice To E-tailer

Digbijay Mishra – The Times of India

Nitin Seth, the former COO of Flipkart has served a legal notice to the e-commerce firm over the way he was fired from the company, sources directly aware of the development told TOI.

Accelerators & Hubs

FinTech Australia: Sydney & Melbourne Startup Hubs a Boon for Fintech

JD Alois – Crowdfund Insider

Sydney and Melbourne Launch Fintech Start-Up Hubs

Antony Peyton – Banking Technology

It’s a double development delight in Australia with Sydney and Melbourne unveiling fintech start-up hubs for innovation across the nation.

FAO: Sydney’s proposed new 11-floor start-up hub will need an $35m investment and will create up to 6,500 jobs. It’s expected to be launched in late 2017 or early 2018. Last month the Victorian Government announced its plans to build a fintech hub at the Goods Shed North in Melbourne’s Docklands.

Alliance That Touts SoCal As Alternative To Silicon Valley Teams With Google Ventures Founder

Mike Freeman – San Diego Union-Tribune

Can Southern California emerge as a technology hub on par with Silicon Valley over the next few years?

FAO:  Steve Poizner, a former state Insurance Commissioner, currently a serial tech entrepreneur, is working on this.

Bank Commits to Decade of Fintech Investment


FAO: Sumitomo Mitsui Banking Corp is linking up with Entrepreneurs Roundtable Accelerator (ERA) to establish a fintech fund.

Startup Accelerator Facilitator Kyron Global Plans To Launch A $50 Million Venture Fund

Durba Ghosh – Moneycontrol

Kyron Global, a startup accelerator facilitator for large-cap companies, is now gearing up to launch a USD 50 million venture fund by 2018.

Why Chicago Is The Best City To Launch A Fintech Company

Brian Barnes – Crain’s Chicago Business

Chicago’s aim to become a 21st-century fintech center is at best limping along


Banks And Fintech Companies: Are They Competing?

Value Walk

In 2017, there are numerous alternatives for clients to keep in mind the end goal to do an exchange.They can choose to utilize benefit from any fintech, or they may utilize benefit from a bank.

Other news

Honour Promises in Joint Declaration

Editorial – South China Morning Post

The agreement, which includes a detailed annex, covered a wide variety of issues, from governance, to the economy, the legal system, and the city’s status as a financial centre.


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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News