Asia

December 15, 2016 @ 7:00 am By xu gao  |  

China Insurance Regulatory Commission Calls Halt to Online Insurance business of Foresea Life Insurance & Five Other Insurance Companies On the of 5th December, the China Insurance Regulatory Commission (CIRC) called a halt to the online insurance business of Foresea Life Insurance for irregularities and… Read More

December 14, 2016 @ 8:18 am By JD Alois  |  

Global investment crowdfunding platform Eureeca has funded its first Dutch company. Adtech firm Cabture has raised €212,051 from 44 investors from eight different countries after 64 days of campaigning and pitching via Eureeca. The Cabture crowdfunding offer is still open as it has shifted into over-funding mode…. Read More

December 13, 2016 @ 7:37 am By JD Alois  |  

Singapore-based Kapital Boost, an Islamic SME crowdfunding platform, has received a Shariah pronouncement from the Financial Shariah Advisory & Consultancy (FSAC) on its “Murabaha” crowdfunding structure. Murabaha is an acceptable form of credit sale under Islamic religious law. Financial Shariah Advisory and Consultancy (FSAC) was introduced… Read More

December 12, 2016 @ 11:04 am By Samantha Hurst  |  

Mediapreneur and FundedHere have formed a strategic partnership to provide seed funding for media-related startups through FundedHere’s crowdfunding platform. The two companies stated that through the partnership, Mediapreneur-supported startups would be listed on FundedHere, which is expected to give them a wider platform to attract capital…. Read More

December 11, 2016 @ 2:03 pm By Jessica Pham  |  

In a grand mashup of investment and politics, President-elect Donald Trump and Tokyo-based SoftBank Group Corp.‘s CEO Masayoshi Son announced their plan this week to create 50,000 new jobs in the U.S. via a $50 billion investment namely in startups. Deal Street Asia reported that the… Read More

December 10, 2016 @ 3:19 pm By JD Alois  |  

HelloGold recently launched in Malaysia, is the first online gold platform to be endorsed as Shariah compliant by the Shariah Supervisory Board of Amanie Advisors. The approval is predicted to give the company access to millions of Muslim customers around the region. The gold savings… Read More

December 10, 2016 @ 3:10 pm By Jessica Pham  |  

Malaysia’s Securities Commission (SC) announced last month that six P2P platforms were registered and would continue to be overseen by the Government of Malaysia, making Malaysia the first ASEAN country to regulate P2P financing.  The six platforms include B2B FinPAL, Ethis Kapital, FundedByMe Malaysia, ManagePay Services, Modalku Ventures,… Read More

December 9, 2016 @ 6:06 pm By Xu Gao  |  

China Minsheng Financial Holding Corporation Limited (CMFH) Plans to Acquire a Fintech Company. On the 30th November, China Minsheng Financial Holding Corporation Limited (CMFH) announced its intent to acquire a Fintech company. CMFH believes that such an acquisition will improve its capacity in Fintech development,… Read More

December 8, 2016 @ 5:25 am By Erin Hobey  |  

According to the new report “The Rise of Fintech in China” by DBS and EY, China has outpaced London, New York and Silicon Valley to become the world’s undisputed global fintech leader. Neal Cross, DBS chief innovation officer, indicated that favorable government policies and regulations contributed… Read More

December 8, 2016 @ 5:07 am By Erin Hobey  |  

Mambu, the SaaS banking platform provider, announced the opening of its first office in the APAC region. Mambu’s APAC clients are spread across China and South East Asia as well as Australia and New Zealand, accounting for nearly a third of the company’s total business to date…. Read More

December 7, 2016 @ 10:53 am By Jessica Pham  |  

Economic migrants rely on remittances to ensure that their families are well off at home and to maintain ties to their home countries.  Fees imposed by big banks and traditional remittance institutions eat into foreign workers’ hard-earned incomes, however, so startups focused on money transfers… Read More

December 7, 2016 @ 9:17 am By JD Alois  |  

The UK Financial Conduct Authority (FCA) has signed a new collaboration agreement. This time the FCA has formed a co-operation agreement with the Hong Kong Monetary Authority (HKMA).  The arrangement is for the two securities regulators to collaborate on promoting financial innovation and is similar… Read More

December 4, 2016 @ 8:35 am By Jessica Pham  |  

In a follow-up to the Ezubao (Ezubo) shutdown, five people affiliated with the Chinese P2P lending platform that is accused of a Ponzi scheme are on trial for gold smuggling.  This is the first court case that is a part of a scandal that robbed investors of between… Read More

December 2, 2016 @ 10:11 am By Samantha Hurst  |  

Chinese peer-to-peer lending platform, Dianrong, announced on Friday it is officially joining blockchain alliance, the Hyperledger Project. The portal claimed to be the first peer-to-peer company among the project’s 22 Chinese members. The Hyperledge Project, which was established by the Linux Foundation at the end… Read More

December 2, 2016 @ 6:55 am By Jessica Pham  |  

Timelio is a Melbourne-based fintech startup looking to disrupt traditional lending models by allowing businesses to turn invoices into cash by selling their invoices online on a P2P marketplace.  It raised $5 million via an equity funding round last month.  The investment is backed by the Thorney… Read More

December 1, 2016 @ 9:33 am By Erin Hobey  |  

Societe Generale today announced a new agreement with Smartkarma, an informational online investment platform which focuses on the Asian markets. Under this global agreement, Societe Generale will provide its institutional clients access to a new form of equity research based on demand driven and customised… Read More

November 30, 2016 @ 2:47 pm By Xu Gao  |  

China’s Leading Auto Financing Companies Set-up Self-Regulating Organization in Shenzhen. On the 23rd November, auto financing self-regulatory regulatory group “Che Dai Quan” (literally meaning auto financing group) was set up in Shenzhen. A number of leading auto financing companies joined this organization, including; RRJC, touna,… Read More

November 30, 2016 @ 8:17 am By JD Alois  |  

Jacqueline Loh, Deputy Managing Director of the Monetary Authority of Singapore, delivered a wide-ranging speech today at the 2nd Shanghai-Singapore Financial Forum in Shanghai. Lo acknowledged the opportunities that exist between China and Singapore noting that China may become 1/3 of the world’s economy by… Read More

November 28, 2016 @ 9:53 pm By JD Alois  |  

Singapore-based FundedHere is listing S$2 million worth short term crowdfunded bonds (ListCo Bonds) for Metech International (SGX:QG1 – MeTech).  This past July, FundedHere announced its intent to help SGX listed companies sell bonds to raise capital. MeTech is now the first company to leverage this funding… Read More

November 28, 2016 @ 9:48 am By JD Alois  |  

Singapore based SmartFunding has received S$700,000 (about USD$ 500,000) in seed funding. The round was led by Fintech Asia Group, part of listed venture firm Fatfish Internet Group (ASX: FFG). The “peer to business” platform was set up to bridge the financing gap for SMEs to… Read More