Fintech leads the way as Irish VC deals hit $185m in Q3
A global survey of venture capital financing has found that the Irish fintech (financial technology) sector led the way, as Irish companies secured more than $185 million (€166 million) in VC funding in the third quarter of the year. KPMG’s Venture Pulse survey tracked more than 4,100 VC funding deals globally between July and September, totalling more than $55.7 billion. So far this year, at least $28.7 billion worth of VC deals were in Europe, which set a quarterly record in Q3 with almost $10 billion of deals. Globally, quarterly VC funding dropped by 14 per cent from almost $65 billion. In Ireland, the funding raised was spread over 22 […]
Fintech focus for Wales at TheCityUK National Conference in Cardiff in November
TheCityUK brings a major event to the Principality Stadium, Cardiff on November 21 as Wales focuses on FinTech with a growing reputation as a global leader in the financial technology sector. TheCityUK National Conference 2019, in partnership with PwC, is an opportunity for delegates to join senior policymakers, practitioners and academics to discuss critical issues and growth opportunities for financial and professional services across the UK. The conference theme is ‘Making an Impact’, with keynote speeches focusing on how the financial and related professional services industry supports people and businesses across the UK.Event headliners include The Rt Hon the Lord Heseltine CH, Richard Theo, UK Government FinTech Envoy for Wales, […]
Alipay sets sights on digital payments outside Asia as it teams up with Russia’s Mail.ru
Alipay, one of China’s dominant digital payments providers, has teamed up with Russian internet firm Mail.ru in an e-wallet joint venture to develop digital payments in the country. The joint venture is Alipay’s first outside Asia, where it already partners with local e-wallet providers such as Hong Kong’s AlipayHK, Indonesia’s Dana and Malaysia’s Touch ‘n Go. Alipay is operated by Ant Financial, the financial affiliate of Alibaba Group, the parent company of the South China Morning Post. Mail.ru will take a 40 per cent stake in the venture, making it the largest shareholder. Apart from Alipay, other partners include Russia’s sovereign wealth fund Russian Direct Investment Fund (RDIF), mobile operator […]
Big VC deals will delay Mexico’s first Fintech IPO
No need for startups to hurry into the public market when giants like SoftBank and General Atlantic are pumping in private capital. Investments in Mexican fintechs by large firms such as SoftBank and General Atlantic have added liquidity to the market and will likely delay the sector’s first initial public offering, two industry executives and a sector lawyer tell Mergermarket. SoftBank, the Japanese conglomerate, in March launched a $5 billion fund to invest in technology startups across Latin America. A month later, it invested $1 billion in Colombian on-demand delivery startup Rappi, and in May it poured $20 million into PayClip, Mexico’s leading online payment processor by number of clients, […]
P2P lender KoinWorks bags $1.4m from Japan’s Saison Capital
Indonesian peer-to-peer lending platform KoinWorks has received around US$1.4 million in additional funding from Saison Capital, the venture arm of Japanese financial services firm Credit Saison, as part of its series B round. The new funds bring KoinWorks’ total series B and B2 raise to about US$13.6 million. It raised US$12.2 million in June in a round led by fintech-focused venture capital firm Quona Capital and Singapore’s EV Growth. Founded in 2016, the company connects investors with borrowers through its platform, providing small and medium-sized enterprises (SMEs) with an alternative to traditional financial institutions. KoinWorks plans to use the fresh funds to develop new financial products to support digital SMEs, […]
GrabPay rated most popular e-wallet in Singapore
Grabpay has emerged as the most popular e-wallet in Singapore over the past two years, as e-payment systems catch on in the city-state. It was followed by e-wallets DBS PayLah!, FavePay, EZ-Link app and Alipay. A report by meta-search website iPrice Group, in collaboration with mobile data and analytics platform App Annie Intelligence, said the contactless payment rendered by Grab has been the most actively used e-wallet app by Singaporeans since the end of 2017. The report released last week analysed over 30 e-wallet apps and tracked the developments of e-wallets using vital app metrics, such as the number of monthly active users and total downloads from late 2017 to […]
How this young entrepreneur turned her hobby into a fintech startup powered by blockchain
Making money is hard but managing it is not as tough, says 23-year-old Smriti Tomar, who started InvestoAsia, a fintech startup based on blockchain technology this year. Gurugram- and Hong Kong-based InvestoAsia aims to help retail investors to easily invest in international markets, especially in China and South Korea, which Smriti feels is currently a major difficulty. The Founder and CEO dubs the platform as a ‘financial lifestyle product’ that aims to redefine personal finance with the power of artificial intelligence (AI), machine learning (ML), and distributed ledger technology (blockchain), to eradicate the inequality amongst the unbanked, unaware, and financially illiterate. The startup, the Founder notes, provides opportunities that were […]
Japanese fintech firm Paidy raises $143m from PayPal, others
Japanese fintech firm Paidy has raised a total of US$143 million in series C funding and debt financing from new and existing investors. PayPal Ventures, Soros Capital Management, JS Capital Management, Tybourne Capital Management, and an undisclosed company invested in Paidy as part of the firm’s US$83 million series C round, according to the statement. The debt financing, on the other hand, included US$52 million from Goldman Sachs Japan and US$8 million from Mizuho Bank, Sumitomo Mitsui Banking Corp., and Sumitomo Mitsui Trust Bank. Paidy plans to increase its customer base to reach 11 million accounts by the end of 2020 by acquiring large-scale merchants and offering additional financial services. […]
