Tagged: germany

July 27, 2020 @ 10:14 am By JD Alois  |  

Kynikos Associates, founded by well-known investor Jim Chanos, bet on Wirecard (WDI:DE) – the once prominent German Fintech that is now in the midst of insolvency proceedings. Chanos did not buy shares in Wirecard, he sold them, and the short bet paid off apparently as… Read More

July 23, 2020 @ 5:46 pm By JD Alois  |  

Wirecard (WDI:DE), once a Fintech darling that fell through the regulatory cracks and now is one of the biggest financial debacles ever in Germany, is compelling public officials to revamp their approach to compliance and oversight. According to a report in Suddeutsche Zeitung, German Finance… Read More

July 23, 2020 @ 8:33 am By JD Alois  |  

Real estate investment marketplace zinsbaustein.de has listed the largest ever project on the platform. The offering is for the Cube River 342 in Düsseldorf, Germany that is seeking €4.3 million. This is the fourth offering from the developer Cube Real Estate GmbH. Investors may invest… Read More

July 23, 2020 @ 7:51 am By Omar Faridi  |  

Munich-based Scalable Capital, a company that has developed a platform to monitor and manage investment portfolios, has secured €50 million in capital through a Series D investment round led by Barclays Bank. Scalable Capital, which offers a digital wealth management platform, also received investments from… Read More

July 22, 2020 @ 2:22 pm By JD Alois  |  

The odyssey of the collapse of Wirecard (WDI:DE) continues to generate headlines as investigators sort through the rubble of the once prominent Fintech. The news has been flowing at a steady pace as pieces of the puzzle are added to Wirecard’s saga as authorities seek… Read More

July 21, 2020 @ 3:40 pm By JD Alois  |  

Bitbond, a Fintech that facilitates the issuance of security tokens, has joined the German Banking Association (Bankenverband). The German Banking Association represents the interests of private banks in Germany. Bitbond was not the only non-traditional firm named as a new member as Hawk AI, a… Read More

July 21, 2020 @ 8:38 am By JD Alois  |  

Germany based Open Banking platform Deposit Solutions says 1/5 of British consumers will consider switching savings accounts during the next 12 months. The historically low-interest rates provided by banks is obviously part of the reason consumers are more willing to consider change. Deposit Solutions is… Read More

July 18, 2020 @ 12:54 pm By JD Alois  |  

A former Wirecard (WDI:DE) executive who was based in Dubai but returned to Germany and was quickly arrested wants to cooperate with investigators according to multiple reports. The unnamed individual was previously CEO of Cardsystems Middle East an entity that reportedly generated the bulk of… Read More

July 15, 2020 @ 12:43 am By Omar Faridi  |  

Telefónica, S.A., a Spanish multinational telecommunications company with over 48 billion EUR in annual revenue, will be piloting a blockchain or distributed ledger tech (DLT)-based platform for settling roaming discount agreements. Telefónica will be joined by Deutsche Telekom, a major German telecommunications company, and British… Read More

July 9, 2020 @ 8:55 am By JD Alois  |  

DEBTVISION GmbH, based in Stuttgart, Germany, has joined the Association of German Lending Platforms (Verband Deutscher Kreditplattformen (VdK)). The digital platform for promissory note loans brings companies together with institutional investors. This is the first time that the association has gained a new member in the… Read More

July 8, 2020 @ 3:25 pm By JD Alois  |  

At a minimum, Wirecard AG (WDI:DE) has generated a good amount of fascinating, yet disappointing news, as the once high-profile Fintech plunged into bankruptcy. Today, according to WSJ.com, the US Department of Justice is investigating allegations of bank fraud surrounding a cannabis-focused company. While details… Read More

July 8, 2020 @ 8:39 am By JD Alois  |  

KlickOwn, a real estate crowdfunding platform based in Germany, has completed its first security token offering (STO) for a property. As was reported last March, KlickOwn had listed a digital bond for a building located in Lüneburg, Germany – called “Historisches Lüneburg“. The digital security… Read More

July 7, 2020 @ 10:00 pm By JD Alois  |  

Last week, well-known Insurtech Lemonade (NYSE:LMND) launched an initial public offering (IPO) on the New York Stock Exchange. Shares listed at $29 but quickly moved higher closing over $60/share – a significant move. Today, Lemonade traded at around $80 a share giving the young firm… Read More

July 7, 2020 @ 3:58 pm By JD Alois  |  

Last week it was announced that Dr. Michael Jaffé had been appointed to oversee the bankruptcy process of Wirecard AG (WDI:DE). The once prominent Fintech dove into ignominy following the revelation of €1.9 billion in missing funds. The financial scandal saw the CEO, Markus Braun,… Read More

July 6, 2020 @ 12:19 pm By JD Alois  |  

Multiple reports indicate that Wirecard’s (WDI:DE) top person in Dubai has been arrested. According to Reuters, the Munich prosecutor “questioned the chief executive of Cardsystems Middle East FZ-LLC earlier in the day and arrested him on the basis of a warrant.” The unnamed executive reportedly… Read More

July 5, 2020 @ 7:17 pm By Omar Faridi  |  

Village Capital helps company founders and business owners through its accelerator program. There are 11 early-stage Fintech firms that will be taking part in Village Capital’s investment-readiness program, called Finance Forward Europe. The initiative is part of Finance Forward, which is a multi-year global coalition… Read More

July 4, 2020 @ 4:45 pm By JD Alois  |  

Jan Marsalek, the former COO of Wirecard AG (WDI:DE) who was fired from his job when €1.9 billion went missing, may have never traveled to the Philippines in late June as records he entered the country were apparently faked, according to a report by Reuters. Marsalek pulled… Read More

July 3, 2020 @ 10:32 am By JD Alois  |  

Wirecard AG (WDI:DE), once a prominent payments Fintech and now a financial debacle due to allegations of massive fraud, continues to try and find a way to survive. Meanwhile, shares in the firm have tanked dropping from over €100/share to now around €3/share as the… Read More

July 2, 2020 @ 3:09 pm By Samantha Hurst  |  

HighRadius, a U.S.-based fintech enterprise Software-as-a-Service (SaaS) company specializing in integrated receivables, announced on Thursday it has continued its European expansion efforts by opening its new Frankfurt, Germany office. Founded in 2006, HighRadius claims its HighRadius Integrated Receivables platform optimizes cash flow through automation of… Read More

July 2, 2020 @ 9:13 am By JD Alois  |  

Wirecard AG (WPI:DE)  has emerged as one of the most embarrassing financial debacles in years in Germany. The implosion of the Fintech has demolished the reputation of the former CEO Markus Braun who was subsequently arrested following the revelation of €1.9 billion in missing funds…. Read More