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 […]
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 […]
Alibaba’s Ant Financial to raise as much as $3 billion in debt
China’s most valuable online finance company, Ant Financial, is in early stage talks with banks to raise between $2 billion to $3 billion in debt to fund acquisitions and foreign investments, a person with direct knowledge of the matter told Reuters. Banks have made “soft pitches” to help Ant raise funds, most likely through loans, to be used by the company for acquisitions such as that of MoneyGram International Inc as well as for boosting existing investments, the person said. Ant, an affiliate of online shopping giant Alibaba Group, dominates China’s online payment market, but has been ramping up investment overseas amid fierce rivalry at home with peers like Tencent […]
Fintech startup Plaid secures funding from Citi Ventures and American Express Ventures
Citi Ventures and American Express Ventures have made investments in Plaid Technologies, Inc., a San Francisco-based financial technology firm. Launched in 2012, Plaid serves as the foundation upon which thousands of financial technology (fintech) applications have been built. The latest investments from Citi and AmEx are part of the startup’s previously announced $44 million Series B round led by Goldman Sachs Investment Partners. “We’re excited to have both Citi Ventures and American Express Ventures as part of Plaid’s journey to help build a more inclusive financial ecosystem,” said Zach Perret, CEO and co-founder of Plaid. “We built Plaid to help developers, consumers, and leading institutions create and embrace financial innovation. […]
The most anticipated Chinese Fintech IPOs of 2017
Greater China’s IPO market is set to continue to lead the way in 2017 fueled by listings of fintech giants including Ant Financial and Lufax, according to a report by CNBC. In 2016, Greater China exchanges hosted four of the ten largest IPOs globally by proceeds during the year, including the largest deal of the year of Postal Savings Bank of China Co. Ltd., which raised US$7.6 billion on the Hong Kong Main Market (HKEx) in September. In total, there were 331 IPOs on Greater China exchanges raising US$46.2 billion in capital, according to a report by EY. Hong Kong, the world’s top venue for IPOs for a second straight year, […]
11 Fintech Companies in UK’s Trade Delegation to Australia & NZ
The Department for International Trade (DIT), the UK’s sole government department that negotiates to strike or extend trade agreements between the UK and non-EU states will send a Fintech delegation of 11 UK companies to Australasia. Aimed at promoting Fintech opportunities in the Fintech spaces in Australia and New Zealand, the trade mission will see a delegation of “eleven successful UK fintech companies” visit the countries in March. The 11 UK companies that form the delegation include credit rating specialist Aire; Fintech data analytics firm Clarus; asset allocation consultant ClearMacro; compliance solutions firm FundApps; investor relations firm Ingage; financial lenders Iwoca and Neyber; blockchain-based data platform ObjectTech; identity verification platform […]
Amazon Launchpad now operating in the US, Canada, India, Germany, France, the UK & Japan
Amazon is not only one of the world’s largest retailers and marketplace, it is also a market for emerging products having raised capital online and from early stage investors. Amazon Launchpad has expanded its platform from just the US to now operating in Canada, India, Germany, France, the UK and Japan. The list of partners is impressive engaging both venture capitalists and crowdfunding platforms. The roster includes: 500 Startups Accel Partners Andreessen Horowitz betaworks Balderton Capital CircleUp Crowdcube Crowdfunder (US) Crowdfunder (UK) Index Ventures Indiegogo Kickstarter Lending Club MicroVentures OurCrowd SeedInvest Seedmatch Seedrs StartEngine ulule and more… Amazon explains that their Launchpad has been designed to meet the needs of […]
Parisian bankers target fintech catch up
After years of lagging behind London on spawning financial technology startups, Paris this week hosted a show of force aimed at proving the French capital can catch up as more than 1,500 bankers, investors and entrepreneurs gathered. The Paris Fintech Forum, which took place recently in the old bourse’s temple-like building, tripled its turnout from last year. With the UK’s vote to leave the EU seen as an opportunity for Paris to raise its game, executives from Societe Generale, insurer Axa and Spain’s Banco Bilbao Vizcaya Argentaria among others showed up to talk about potential in France. Just as London is Europe’s banking and finance centre, it has been centre […]
