Fintech SoFi gets $500M infusion from Silver Lake, Softbank
San Francisco fintech SoFi is near to closing a deal for a $500 million infusion from buyout firm Silver Lake and tech giant Softbank, according to sources close to the matter. The Wall Street Journal reports that the company is close to completing the deal, which won’t give Silver Lake a majority stake in the company but does signal an increasing interest by venture capital firms in fintech startups that focus on lending. “The new equity investment, which values SoFi at more than $4 billion, would give the San Francisco-based company a fresh round of cash as it works to shake off a tough 2016 for the online lending industry […]
Global investment platform DarcMatter receives ‘Best Fintech Solution’ award
Global investment platform for alternative payments DarcMatter announced that it has received ‘Best Fintech Solution’ award for Small & Startup Funds at the HFM U.S. Hedge Fund Technology Awards that was held on 13 February 2017 in New York. The HFM U.S. Hedge Fund Technology Awards recognizes and selects those software providers that are serving hedge fund industry and have proven exceptional customer service and innovative product development in the fintech ecosystem. DarcMatter was selected by the panel of judges, as it is focused on offering a technology platform for hedge fund managers in order to directly and more transparently access LPs for streamlined and efficient capital raise. “We are […]
Traity releases micro-insurance product ‘Kevin’ in open blockchain balance sheet
Traity, a network that builds reputation standards, has collaborated with Suncorp, the largest Australian insurance conglomerate, and announced the release of a new micro-insurance product ‘Kevin’ in an open blockchain balance sheet. In an ‘Open Blockchain Balance Sheet,’ for every new transaction that Kevin approves, it buys $10 worth of bitcoin. When a transaction ends positively, Kevin sells $10 worth of bitcoin and on negative grounds, it needs to pay the guarantee, an additional $100 into Kevin’s Open Balance Sheet. This indicates that there is a 10x liability leverage that is reasonable. “$100 may not sound like much, but it covers most of the transactions online. Furthermore, we think that […]
Robo-Advisors are a Big Hit in U.S. – but not so much in Europe
Financial advisors need to be aware: robo-advisor services are popular in America, but not pervasive in Europe. Asia, though, is seeing faster growth. A new study shows that robo-advisor services are predominantly used in the U.S. and that only 1% of survey respondents in major European countries like the U.K. and Germany say they are using robo-advisor strategies in their investment portfolios. “Adoption of robo-advice in the United States accelerated dramatically with the entrance of the major retail investment brands,” says Investment Trends in its “2016 Robo-Advice Report.” While 950,000 online share investors already embrace robo-advice, this figure has nearly doubled in the last 12 months alone (47% of the […]
Brexit is a potential boost for Swedish fintech
Stockholm could be set to benefit from the UK’s exit from the European Union by attracting more fintech investment London is among the world’s financial services capitals, but it is one facing many questions as the UK prepares to break away from the European Union (EU). For some countries this represents an opportunity, and the Swedish financial technology (fintech) sector is ready to seize any opportunities. In the past five years, Sweden has attracted the highest number of fintech investments per capita in Europe and its capital Stockholm has branded itself as a fintech hotspot. This follows the success of companies such as Klarna and iZettle. Many in the Nordic […]
CB Insights announces Future of Fintech gathering in New York
CB Insights platform that catches every private company financing and angel investment database, has announced ‘Future of Fintech’, an exclusive gathering of world’s best fintech startups and active investors. The event will be held from 26 to 28 June 2017 in New York. The gathering will focus on the ongoing pace of disruption and funding in the finance sector and what it means for incumbents, consumers, and the future of financial services across blockchain, insurance tech, robo advising, AI, among others. “If you want to understand the powerful and fast-emerging technologies profoundly reshaping financial services and the knock-on effects that will have, the CBI Future of Fintech is the place […]
European fintech deals hit 5-year high in 2016
Europe’s advantage in financial technology has been highlighted by figures showing fintech deals hit a five-year high on the continent in 2016, defying the global trend of a slight decline. The number of deals in European fintech rose 11 per cent to 179 in 2016, compared to a 1 per cent global drop, according to the data analytics company CBInsights. Germany and the UK dominated, staking claim to nine out of the 10 biggest European fintech deals. The deals grew 124 per cent compared with 2011’s total, in contrast to an 8 per cent drop-off in deal activity in the US to 422 deals — identical to 2014 levels, the […]
China leads the way in FinTech investments
China has emerged as a leading FinTech (financial technology) hub in terms of capital investment, which was estimated to be worth £6.5 billion (US$8.1 billion) in 2016, more than triple the £2.05 billion in 2015. “The significant growth and magnitude of FinTech investment into China is underpinned by robust access to capital, both through public and private sources of funding”, accounting firm Ernst & Young claimed in a UK government-sponsored report entitled China and UK FinTech: Unlocking Opportunity. Over the last few years, FinTech investment in China has seen strong support from the PRC government, with more than 750 government-led funds investing in the sector, in addition to £4.3 billion […]
