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 […]
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 […]
Amazon Is Set to Rule the Fintech Game: Andreessen Horowitz VC
If any technology company makes a major move into payments and banking, the most obvious candidates are Apple and Google. After all, both have a lot of experience thanks to the Apple Pay and Google Wallet functions, and both have already persuaded hundreds of millions of customers to share their credit card information. But in the long run, it’s likely to be another tech giant, Amazon, that captures the market for Internet payment services, according to Alex Rampell, a general partner at the venture capital firm Andreessen Horowitz. Speaking at the Goldman Sachs Technology conference in San Francisco on Tuesday, Rampell explained that Amazon is more inclined than its rivals […]
PayPal acquires Vancouver-based TIO Networks in $304m deal
PayPal Holdings Inc. (NASDAQ:PYPL) is acquiring Vancouver-based TIO Networks in a deal worth $304 million. The companies announced the definitive sales agreement Tuesday (February 14), which will see PayPal pay $3.35 per share in cash — a 22.6% premium above its 20-trading day average price. TIO Networks chairman and CEO Hamed Shahbazi told Business In Vancouver he was “very excited” his company was becoming a part of the PayPal family. “It’s an incredible company,” he said. “Dan Schulman, the [PayPal] CEO, has a tremendous vision that really aligns well with us and his vision of financial inclusion is one we think gives us an opportunity to really amplify the scale […]
Fintech is driving growth and opportunities in Asia Pacific
According to analysis by KPMG International and CB Insights, US$4.6 billion in venture capital-backed fintech funding went to the Asia-Pacific region at the end of Q3 2016. Much of this investment went to China, driven by high mobile internet adoption rates and a tech savvy-millennial user base. Asian fintech sectors predicted to get VC interest this year include payments, regtech, data & analytics, and mobile. Adoption of mobile money and mobile payments in Asia will see the market encompass a range of demographics, from Chinese millennials with WeChat, to Sri Lankan retirees receiving pensions onto their Dialog eZCash mobile money account. Across Asia, fintech driven by regulatory ‘sandboxes’ are enabling financial institutions […]
Fintech start-up PromisePay becomes Assembly Payments, signs key Gumtree deal
Well-backed Melbourne-based fintech start-up PromisePay has taken the bold move to change its name at the same time as announcing one of its most important deals to date, with eBay-owned online marketplace Gumtree. The company, which last year closed a $14 million Series A funding round with Australian tech VC fund rampersand, Westpac’s Reinventure, 99Designs co-founder Mark Harbottle and former Hitwise CEO Andrew Walsh, will now be known as Assembly Payments. PromisePay had already picked up a strong roster of more than 100 Australian and international clients including Airtasker, hipages, Flippa and Carsales.com.au for its online marketplace payments platform. It enables payments to be held in escrow, so a customer […]
Australian FinTech launches International FinTech platform
The team behind the highly successful AustralianFinTech.com.au, this week launch their International platform, InternationalFinTech.com, aimed at connecting the FinTech industry on a global scale. Founder and CEO, Cameron Dart, says International FinTech has been born on the back of the highly successful Australian FinTech platform and growing demand from the global community to have a dedicated online presence for their sector. “International FinTech mirrors the Australian FinTech platform, including a dedicated industry newsfeed and a comprehensive directory of FinTech companies globally. “The site also aims to educate users of new financial technologies such as peer to peer lending and cryptocurrency, all presented in simple terms with no financial jargon” says […]
