Digital payments alone could become a $100 trillion industry, according to PwC. And that’s just one component of the global Fintech industry. This channel tackles the lenders and buyers, the obstacles and achievements, and the trends and trend makers leading the ongoing technological evolution in global finance.
Wise (LON: WISE), the UK payments fintech previously known as TransferWise, has taken its first steps into investing solutions. Its Assets product allows users to invest in stocks but also have access to liquidity via a spending limit of up to 97% of the value of the portfolio.
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The US-China trade war took a toll on global fintech investments, which slumped 29% in the first half of the year.
According to a report from consulting firm Accenture, fintech deals across the globe in the first half of 2019 amounted to $22 billion, sharply lower than $31.2 billion in the same period in 2018.
The number of deals was higher by 2% to 1,561 this year, however.
Listed lending P2P platform Funding Circle, headquartered in London, has surpassed the magic figure of $10 billion in funds loaned
Launched in 2010, Funding Circle is the first P2P platform to be listed in the UK.
São Paulo-based secured lending platform Creditas announced a $231 million funding round on July 10 that values the fintech at $750 million.
The funding round is led by SoftBank Group. Existing investors Vostok Emerging Finance, Santander InnoVentures and Amadeus Capital will also participate.
Mintos is stepping up the pace on its lending activities with over €1 billion in loans advanced since April of this year
The platform provides a large cross-section of loans through 65 loan originators. Most of these loans are in the consumer category, though loan types such as agro, business, and invoice financing are also available.
Bank of America Merrill Lynch continues its global expansion Fintech analyst Gerardus Vos is heading to Bank of America Merrill Lynch. The U.S. bank has hired Vos to lead head a financial technology investment banking team for Europe, the Middle East, and Africa (EMEA). Once he starts in September, Vos will report to Giorgio Cocini…
A summary of the fintech soundbites from the event on the foggy shores of Montauk
Key trends: Facebook’s Libra, bank fortunes, Amazon, and millennials’ wallets.
The new project aims to reduce time-consuming manual processes The new IBM blockchain project “Trust Your Supplier” (TYS) debuted this week. In a press release, IBM said TYS is “designed to eliminate manual time-consuming processes and help reduce the risk of fraud and errors, ultimately creating frictionless connectivity across supply chains.” The project is part…
The darling of Scandanavia just became the largest private fintech startup in Europe. It didn’t take long for the Klarna payments platform to hit a valuation of $5.5 billion. Ahead of a possible IPO, the Swedish payments firm just raised $460 million in equity from a number of investors. Founded in 2005, Klarna says it…
A recent £113 million investment by Y Combinator in digital challenger bank Monzo has ratcheted up the latter’s valuation to over £2 billion, double what it was just eight months ago.
The kind of valuations European fintechs are getting these days is calling into question the belief that Silicon Valley alone is the birthplace of the most promising startups.
The recent raising of $170 million by challenger German bank N26 Gmbh gives it a valuation of $3.5 billion. That valuation puts N26 in the top echelons of European fintechs.
Revolut, the digital challenger bank, and fintech poster child may soon amass a worth of $10 billion, according to Simon Cook, investor, and board member.
Henry Kravis is said to have invested in San Francisco-based ParaFi, an alternative investment fund with a special focus on the fintech and blockchain ecosystem.
ParaFi is led by founder and CIO Ben Forman, an investor with over 10 years of experience across public and private markets at KKR and TPG.
Moody’s is looking to enhance the product portfolio of its Moody Analytics unit by acquiring risk analysis fintech RiskFirst.
RiskFirst’s offerings are geared towards institutional investors such as asset managers, pension funds and endowments.
Documents obtained by The Globe and Mail reveal that fintechs in sectors such as alternative lending, electronic payments, online gambling and digital currencies are thought to be particularly vulnerable to the menace of money laundering.
British-born Netflix star Tan France will endorse the debit card from Transferwise soon to be launched in the US.
Launched in the UK and Europe in 2018, the card has already made waves with 15 million transactions, and over $10 billion deposited.
Former Barclays chief Antony Jenkins, founder of 10X, believes the banking industry’s “Uber moment” is here
According to a report in Financial Times, JPMorgan Chase, the biggest US bank, is in discussions to invest in banking fintech 10x Future Technologies.
Netfin Acquisition Corp filed with the SEC to raise $220 million in an initial public offering (IPO).
Based in New York, Netfin is a SPAC and fintech.
Revolut, the UK-based digital “challenger” bank, wants to become the Amazon of banking.
Started in July 2015 by two bank ex-employees, Revolut has a set a torrid pace towards its aim to become a global financial player.
Amsterdam-based payment service Mollie finally avails funding
A group of technology and payment entrepreneurs has seized the opportunity to invest in a pioneering online payments service that was founded over a decade ago.
Henrique Dubugras, 23, and Pedro Franceschi, 22, are (you guessed it…) Stanford dropouts
Henrique Dubugras and Pedro Franceschi have a net worth of $460 million each. They founded Brex, a fintech startup in 2017.
An IMF survey on global adoption of fintech shows a fifth of central banks are weighing the issue of cryptocurrencies
Are fintech’s stated benefits of financial inclusion and a fillip to growth visible on the ground?
Aspiration, an online bank, advertises itself as the Wells Fargo alternative
Looking for a cheaper, cleaner alternative to Wells Fargo, the mainstream US bank which has been in the news for all the wrong reasons?
Shale investing is no longer an exclusive club open only to industry insiders. EnergyFunders, which claims to make direct energy investing easy, presents selected and vetted oil projects on a transparent, data-driven platform.
Strict project vetting. Collateral as security for lenders. SEC-regulated. Pick from projects or loans in real estate, litigation finance, marine finance, commercial or art.
That’s YieldStreet for investors seeking higher returns from opportunities in P2P lending.