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Fintech: M&A In the Fintech Space Will Heat Up

One of the clear winners, if there is such a thing of the current economic situation, will be fintech companies. And we can expect to see a wave of fintech M&A as a result. There was already a trend towards digital platforms in the financial services industry. Now it’s just accelerating. Even those who prefer a hands-on face-to-face meeting on financial matters are turning to online platforms. They have to do so. Many banks are only offering drive-through services. This means more complex transactions are moving online. Why Fintech M&A Will Heat Up The shift to increased digital use in financial services will also accelerate the fight between incumbent banks, brokerages, and insurance companies to capture market share in a new digital marketplace. Underfunded startups will struggle. They lack the ability to spend billions of dollars a year like their larger financial counterparts. The smaller firms will also need to find funding sources to survive until economic activity begins to normalize. Fintech companies also have to be very careful about execution risk right now. Consider Robinhood, the online brokerage firm. Their system failed as markets became disrupted by the spread of the coronavirus virus in the United States. The future…

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Alternative Investments: YieldStreet’s Prism Fund Has BlackRock as SubAdviser
February 20, 2020

Digital fintech platform YieldStreet is offering a closed-ended, income-yielding fund that will be co-managed by BlackRock (NYSE:BLK), the world’s largest asset manager. The YieldStreet Prism Fund will be available to…

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Venture Capital: Atomico’s Fifth Fund Eclipses $750M Target; Raises $820M
February 20, 2020

Atomico, the immensely successful venture capital firm founded by Skype’s Niklas Zennström, raised $820 million for its fifth fund. Atomico V will primarily invest these funds in startups raising money…

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FinTech: Singapore’s Grab To Get $700M Investment From Mitsubishi UFG-Reports
February 20, 2020

Grab, one of the largest fintech apps used by millions of users to hail rides, order food and make payments, will receive a $700 million investment from Mitsubishi UFJ Financial…

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DailyAlts PlayBook – Michael Bloomberg, Bernie Sanders, Virgin Galactic, and More – February 20, 2020
February 20, 2020

The DailyAlts Playbook talks about Bloomberg’s Debate, “Summer” as a Verb, Victoria’s Secret Sale, and Goldman’s Warning.

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FinTech: The LendingClub-Radius Bank Deal Could be the Precursor to Many More
February 20, 2020

The tables have turned. There was a time when banks sought to acquire fintechs for their technology and customer reach. But the acquisition of Radius Bancorp by LendingClub (NYSE: LC)…

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Digital Assets: Perpetrator of $147M Gemcoin Fraud Faces 10 Years in Prison
February 20, 2020

Over 70,000 victims lost $147 million in Gemcoins – the cryptocurrency that never was. There may be hope yet that the victims of the elaborate fraud committed by Steve Chen…

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Preqin: Private Debt Fundraising Lagged in 2019
February 19, 2020

A new report from Preqin shows that private debt activity slowed down over 2019. Dealmaking also lagged from 2018. The report shows that more than 200 private debt funds closed…

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Liquid Alternatives: Franklin Templeton Buys Legg Mason in $6.5B Deal
February 19, 2020

Franklin Templeton will become a $1.5 trillion behemoth after its acquisition, announced Tuesday, of rival Legg Mason for $6.5 billion including debt. It will pay $50 per share of Legg…

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Digital Assets: BitGo Goes The Whole Nine Yards; Buys Harbor, Subsidiaries and All
February 19, 2020

BitGo, the leader in crypto custody services, acquires Harbor, the top name in digital securities. It’s a diversification move aimed at a role in the entire transaction chain of digital…

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FinTech: LendingClub Is The First Fintech To Acquire a Bank
February 19, 2020

Personal lending platform LendingClub has agreed to acquire FDIC-regulated, Boston-based online bank Radius Bancorp in a cash (75%)-cum-stock (25%) deal worth $185 million. This is the first time that a…

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