FinTech Daily News – Edition 95, 15.11.2017
November 15, 2017
FinTech Daily News – Edition 97, 17.11.2017
November 17, 2017

FinTech Daily News – Edition 96, 16.11.2017

FinTech Daily News

by Florin Oprea

Edition 96, 16.11.2017

Deals, Investments & M&As

Kinder, Gentler Debt Collector TrueAccord Raises $22 Million

Jonathan Shieber – TechCrunch

Bringing debt collection into the age of the soft touch, email and text-based world of the 21st century has netted TrueAccord $22 million in a new round of funding. The company said it would use the new money for product development, building out its internal auditing and compliance capabilities and expanding into markets.

FAO: The current round was led by Arbor Ventures and thus total funding raised by the company reached almost $35m. Maybe it’s time for banks to study another business model concerning debt collection.

Health I.Q. Has Quietly Raised $81 Million To Give Cheaper Rates To Vegans, Runners And Yogis

Lauren Gensler – Forbes

Life insurance company Health I.Q. announced that it has raised $34.6m in a Series C funding round led by Andreessen Horowitz. That brings its total funding to $81 million.

FAO: The start-up has raised $81m in less than three years. Not bad. Previous backers include: Foundation Capital, Ribbit Capital, Greylock Partners, Menlo Ventures and Charles River Ventures.


One Of China’s Hottest Companies Rebuffs Criticism About Transparency

Saheli Roy Choudhury – CNBC

Despite public criticism about a lack of transparency in some practices, Ant Financial is doing things the right way, Douglas Feagin, SVP and head of global business at Ant Financial, said. The company has seen healthy demand for its asset-backed securities, and that’s proof enough that it’s providing sufficient transparency to investors, the executive said.

FAO: Ant Financial sold more than $23b of ABS backed by consumer loans in 2017. The topic was previously discussed last month. In essence, the debate is over the transparency offered by Ant Financial, and other companies, on how such asset-backed securities are created. They are often compared to the subprime mortgage-backed securities that banks sold before the 2008 crisis.

Wealth & Personal Finance

Free Of Paper And Fees, Betterment Users Can Now Donate Shares

Michael Thrasher – Wealth Management

Betterment users can now donate shares from their portfolios directly to charitable organizations with an account on the automated advice platform, a feature industry experts said is a another step toward the robo advisor offering more holistic services to investors.

FAO: With ideas like the one above it’s no wonder Betterment is the largest independent robo-adviser, valued at $800m in July (more here), and more recently at $1B in private market trading (see more details here).

Data Centers

AHEAD Collaborates with Equinix to Tap the Power of Enterprise Cloud with New Lab

Business Wire

AHEAD announced the launch of their new lab in collaboration with Equinix. The new AHEAD Lab combines on-premise performance with the convenience and scalability of the public cloud so that enterprises can test and leverage technologies to meet their growing infrastructure needs.

Cap Markets & Other

NEX Commits To The FX Global Code And Introduces A Public Register

Valentina Kirilova – Leap Rate

NEX announced it has signed a Statement of Commitment to adopt the principles of the FX Global Code across its EBS FX trading platforms and NEX Optimisation services.

FAO: I remember previous reports regarding these plans. Glad to hear they went on with them.

FinTech People

Private Equity Chiefs Are Better Tax Targets Than Start-Up Workers

Gina  Chon – The New York Times

A plan to hit US start-ups with an extra tax would be better directed at private equity. Technology firms are understandably upset over a Senate plan to tax stock options and restricted stock units when they are vested. It would raise $13.4 billion over 10 years, according to the nonpartisan congressional Joint Committee on Taxation. But ending a loophole on investment profit for buyout barons would bring in more.

FAO: Not really “updated” on the topic? Why don’t you read the related content we have reported in our previous editions this week. Check here and here.  

Fintech Firms In South Wales Facing Skilled Staff Battle

Sarah Dickins – BBC

Some of the fastest growing fintech firms in Wales are at risk of being held back by skills shortages, a leading specialist lawyer has warned. Cerian Jones said so-called fintech companies have told her they are “chasing fish in the same small pool”.

FAO: Why don’t you try a different pool? There are HUGE POOLS in other regions of Europe. Like Eastern Europe – more on the topic hereAccelerators & Hubs section.

Via PRNewswire – Former Uber finance executive Rose Zhong, was added as Vice President of Finance at Fundbox.


Regulator Voices Concerns About Data Privacy Over Fintech

Yonhap –  Korea Herald

The fIntech industry is opening the door to better and cheaper financial services, but regulators need to address concerns about the privacy of customer information, South Korea’s financial regulator said. Choe Heung-sik, governor of the Financial Supervisory Service, made the remarks during a forum on the fintech industry in Seoul.

Accelerators & Hubs

Lithuania And Singapore Forge Fintech Pact


Invest Lithuania and Singapore FinTech Association signed a landmark fintech innovation agreement at the 2017 Singapore FinTech Festival, signifying deeper bilateral economic relations as both republics seek to enter each other’s regional markets.

FAO: I know, it’s part of the hype of the festival in Singapore which is being held these days, BUT, what’s interesting here is that we see two powerful players in global fintech, the Baltics, represented by Lithuania, and Singapore, both of them steadily gaining strengths in global fintech due to their favourable regulatory environments, among other factors.


The Most Valuable Fintech Companies, In One Chart

Value Walk

The list comes from Forbes, which uses valuations from Pitchbook and CB Insights based on the last round of known venture financing.

DNT: Have you ever asked yourself how venture capital works? If so, this is a very useful list.



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

DNT: Decebal Nicolaie Todarita, Editor FinTech Daily News