7 FinTech companies helping millennials dominate their finances this year
If you’re a millennial, you already know just how hard it is to get ahead. Student loan debt, much of which is shouldered by millennials, surged to $1.3 trillion dollars last year. That leaves the average college graduate ages 20 – 30 with a monthly payment of $351. And let’s not forget that, as of last year, a large percentage of millennials with a college degree were stuck working low-wage, dead end jobs. So, while many millennials are working hard to get out of debt, they struggle with low wages that make even keeping up with their bills that much harder Of course this news is depressing, but it’s important to note […]
A Complete Beginners Guide To FinTech In 2017
You may have heard the relatively new term “FinTech” bandied about, but what actually is it? And why is it important for all entrepreneurs to know about and understand? FinTech stands for Financial Technologies, and in its broadest definition, that’s exactly what it is: technologies used and applied in the financial services sector, chiefly used by financial institutions themselves on the back end of their businesses. But more and more, FinTech is coming to represent technologies that are disrupting traditional financial services, including mobile payments, money transfers, loans, fundraising, and asset management. Don’t assume that FinTech is simply a fad or buzzword: Accenture recently released a report which found that […]
DomaCom signs distribution deal with US crowdfunder
Australian crowdfunder, DomaCom has signed an exclusive distribution deal with a New York-based real estate crowdfunding platform, Prodigy Network. The deal aimed to expand investment opportunities for Australian investors wanting to invest in US real estate assets. DomaCom’s chief executive, Arthur Naoumidis, described the agreement as “the start of several overseas property crowdfunding opportunities for Australian investors”. “Enormous buying power exists in our large industry and retail superannuation funds and our growing A$600 billion self-managed superannuation fund (SMSF) market. There are vast sums of money sitting there, some of which must be looking for an opportunity to invest in global real estate markets,” he said. “Whilst crowdfunding is still a […]
Eight new startups join DCU Fintech Innovation Center for 2017 cohort
The DCU FinTech Innovation Center, a leading sponsor for fintech in Boston area, has announced eight new seed-stage fintech ventures for the center’s 2017 cohort. The selected startups will work, learn and collaborate in the innovation center. The selected startups include Doni, a social goal saving app for planning, saving and buying together; Energetic Insurance, InsurTech/CleanTech platform; FutureFuel, a student debt repayment startup; Lara, a personal finance firm; LearnLux; Perfectosoft, a payment processing company; RateGravity and SalesBrief, a marketing automation company. “The Center is an opportunity to go beyond DCU’s legacy of promoting and adopting innovative banking solutions. The space serves as a platform to help drive the Boston FinTech […]
Fintech MarketInvoice aims for £900 million lending in 2017, launches Pro product
Fintech company MarketInvoice is planning to more than double the size of its business in 2017 as it launches new products in a bid to become the destination for small business short-term finance. MarketInvoice announced on Thursday that it hopes to reach £2 billion in total lending by the end of 2017, which would represent £900 million in lending in 2017 and 133% growth on its 2016 volumes. Founder and CEO Anil Stocker told Business Insider: “It took us five years to do our first billion; we’re trying to do our second in a year. It’s very exciting.” Peer-to-peer platform MarketInvoice started out in 2010 as a platform to let […]
Indian bitcoin startups form blockchain and digital currency association
Leading bitcoin companies in India have come together to set up a new alliance to create an industry body in order to engage with the regulators. The Economic Times reports that Zebpay, Unocoin, Coinsecure and Searchtrade have formed the Blockchain and Virtual Currency Association of India (BVAI) and are moving forward to formally register it. The formation of BVAI follows the recent notice by the country’s central bank, The Reserve Bank of India (RBI), cautioning users when engaging in bitcoin-related activities. The startups met for their first meeting on Friday and discussed the RBI circular among other things. “While we have been planning to create an association for some time, […]
MobiKwik in talks to raise funds, eyes $1-Billion valuation
Indian mobile payments and digital wallet firm MobiKwik says it is in talks to raise more funds at a level that would give the start-up a $1 billion (roughly Rs. 6,698 crores) valuation, as it pushes to forge new ties with banks and offer new financial services on its platform. The company, which has raised about $80 million (roughly Rs. 535 crores) in funding so far, will likely see a new cash infusion in the next month, or two, founder and Chief Executive Bipin Preet Singh told Reuters on Wednesday, while declining to comment on how big an equity stake the company might be offering to sell. Asked about MobiKwik’s […]
Lending Works becomes first major P2P platform to launch new ISA
Lending Works, the first peer-to-peer lending platform to have insurance protecting lenders against certain borrower default risks, today becomes the first major UK platform to launch an Individual Savings Account (ISA). The new peer-to-peer lending ISA – which is better known as the Innovative Finance ISA or IFISA – is a new category of ISA set up exclusively for P2P lending. The IFISA can only be offered by platforms who have attained both full authorisation from the Financial Conduct Authority (FCA), and subsequently ISA Manager approval from HMRC. Lending Works received confirmation of both permissions in late 2016, and the company has now become the first member of the industry-body […]
