Tagged: fintech

February 16, 2016 @ 6:37 am By Erin Hobey  |  

Kwanji, the emerging market payment specialist, has closed its first crowdfunding round, exceeding its initial target and finishing 123 per cent overfunded having raised £496,682 on the UK equity crowdfunding platform,  SyndicateRoom. “Kwanji is a fantastic UK-based fintech business, which helps SMEs save significant amounts of money… Read More

February 16, 2016 @ 6:10 am By Erin Hobey  |  

Spanish Bank BBVA is banking on fintech’s success. Having launched the BBVA Ventures fund in 2013 with $100 million to invest in digital fintech startups, the bank recently added $150 million in funds. The bank will be partnering with Propel Venture Partners, according to Money Market UK…. Read More

February 11, 2016 @ 9:54 am By Samantha Hurst  |  

LendingArch, an emerging Canadian marketplace lending platform, announced on Thursday it has appointed Paul Hadzoglou as Head of Credit & Risk. Hadzoglou notably comes to LendingArch with a track record of high performance and value, and his detail to data science, credit risk and underwriting… Read More

February 11, 2016 @ 4:34 am By Erin Hobey  |  

Mumbai-based P2P lending fintech startup, Capzest, has raised $200K in seed funding from LionVentures, a seed investment and innovation platform founded by Anurag Mehrotra founder of LionVentures; Varun Dua, co-founder and CEO of Coverfox; Amit Tambe, former senior partner of Trilegal India and Vikas Jhunjhunwala, a Mumbai-based textile businessman reported VC Circle…. Read More

February 9, 2016 @ 6:06 am By Erin Hobey  |  

Switzerland’s potential as a European fintech hub is being damaged by lack of Government and bank support and a shortage of investment capital, according to a new report by Ernst & Young and Swiss Finance + Technology Association. Despite the advantages incurred by the country’s skilled… Read More

February 9, 2016 @ 5:17 am By Erin Hobey  |  

NovitasPartners and FTCL, two UK boutique corporate finance firms specialising in the fintech sector, today announced their merger to meet the growing demand for corporate finance advisory services from clients within the payments, data, financial software, market infrastructure, business process outsourcing, and securities services subsections…. Read More

February 9, 2016 @ 5:06 am By Erin Hobey  |  

KPMG has acquired fintech platform Markets IT for an undisclosed sum, in an effort to expand its “big data” capability and help banking clients grapple with a barrage of regulatory change, according to the Financial Review. KPMG Australia CEO Gary Wingrove referred to the merger as a “timely… Read More

February 4, 2016 @ 6:00 am By Erin Hobey  |  

Indonesia’s Financial Services Authority (FSA), which regulates the banking and non-banking sector, is working with the Ministry of Communications and Information to bring out regulations governing online startup companies offering financial services, popularly referred to as fintech, reported DealStreetAsia. Indonesia is Southeast Asia’s largest economy (US$890B).  The new regulation will… Read More

February 4, 2016 @ 5:03 am By Erin Hobey  |  

Fintech opportunities are percolating in southeast Asia. Earlier this week, the Silicon-based venture capital firm, Sequoia Capital, closed a $920 M fund capital to invest majorly in Indian startups along with South East Asian companies.  With the reserve bank actively studying peer lending, this part of the globe… Read More

February 4, 2016 @ 1:13 am By Midori Yoshimura  |  

EY and Innovate Finance have just announced the launch of a FinTech secondment program, according to a recent press release. As the only Big Four member of Innovate Finance, one of the world’s largest membership association for FinTech, EY will second members of staff into Innovate… Read More

February 3, 2016 @ 1:36 am By Midori Yoshimura  |  

German online lending platform Spotcap has successfully closed its third financing round, according to the company’s recent press release. The Berlin-based financial technology company raised EUR 31.5 million in new funding led by international private equity firm, Finstar Financial Group, with participation from previous investor Holtzbrinck Ventures…. Read More

February 2, 2016 @ 5:18 am By Erin Hobey  |  

J.P. Morgan Chase & Co. has agreed to acquire nearly $1 billion worth of personal loans arranged by LendingClub Corp., people familiar with the deal reported Nasdaq’s Telis Demos. The portfolio, worth just over $900 million and comprising loans made to consumers with an average FICO… Read More

February 2, 2016 @ 5:04 am By Erin Hobey  |  

OCBC Bank has launched a fintech co-working space and innovation unit in Singapore and its first accelerator program to identify and collaborate with innovative startups. The 2,400-square foot Open Vault at OCBC has been established to help drive the development of new products and business models… Read More

February 2, 2016 @ 4:44 am By Erin Hobey  |  

Creditnation.in, a lending platform which combines credit advisory, analytics, process automation and last-mile connectivity, has announced that it has raised angel round funding for an undisclosed amount.  The platforms deals primarily in credit cards, loan against property, housing, personal, auto and business loans, and have already partnered… Read More

February 2, 2016 @ 4:27 am By Erin Hobey  |  

FinTech Sandbox, a nonprofit that helps FinTech startups access data and build great products, today announced a new data sourcing agreement with the global news company, The Associated Press. The AP will provide FinTech Sandbox residents with access to AP’s financial, business and political news… Read More

January 28, 2016 @ 4:15 am By Erin Hobey  |  

Partner Susan Su announced 500 Startups Batch 16 on the fund’s blog, celebrating the largest accelerator cohort in 500 Startups history with 53 companies in total. Batch 16 presents five major industry themes, including FinTech, Digital Health, ViceTech, HR/workforce development and SportsTech.  To date, 500 Startups has invested in well over 500 companies, over 1500… Read More

January 26, 2016 @ 10:56 am By Erin Hobey  |  

Deloitte Digital (Africa) acquired the fintech services business Jinja Interactive, according to IT Online. The acquisition of Cape Town-based Jinja Interactive will boost Deloitte Digital’s growing value chain of digital expertise, particularly in digital financial services and fintech innovation.   “We’re very happy to have the… Read More

January 22, 2016 @ 2:24 am By Midori Yoshimura  |  

2015 was a great year for financial technology (fintech), as recently released stats from Berkery Noyes show. Among other findings, 2015 saw 427 fintech mergers and acquisitions, a total transaction volume increase by 14 percent over 2014, from 376.  Total transaction value in 2015 more than doubled over… Read More

January 21, 2016 @ 4:49 am By Erin Hobey  |  

Online lender Elevate Credit Inc. has postponed its initial public stock offering due to difficult market conditions, reported the Wall Street Journal. The firm was slated to price its initial public stock offering Thursday. Based in Fort Worth, Texas, Elevate Credit makes unsecured personal loans to subprime borrowers. In 2014, Elevate was spun out… Read More

January 19, 2016 @ 6:43 am By Erin Hobey  |  

Platform Black, a provider of alternative finance to UK businesses, has expanded its team, signalling continuous growth and increasing demand in the sector. Helen Mackenzie, Gayle Townsend and Robert Rajeswaran bring significant invoice trading and supply chain finance expertise and will support the company, which has provided… Read More