Beginning in June ads promoting cryptocurrencies and ICOs will be banned on Google; this follows a recent ban from Facebook; both companies have a large share of internet ads and combined collected 60% of online ad spend in 2017; many cryptocurrencies fell on the news. Source
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Lend Academy digs in to the complex topic of valuation with this Q&A piece conducted with Houlihan Lokey. Source
- RateSetter celebrates 5,000 ISA account openings in first month
- Future Finance Closes €40M Funding Round
- Square Seeks BitLicense to Bring Bitcoin Buying to NY
- Fundbox wants to be PayPal for Small Businesses
- Binance Unveils Blockchain for New Crypto Exchange
- PayU, Kreditech launch instant cardless EMI with PayU Monedo in India
From the beginning of 2017 Ant’s consumer lending business has doubled; this is a result of growth in their Huabei and Jiebei business units; Chinese regulators have recently made it harder for companies like Ant to create ABS; according to data from Bloomberg, Ant Financial’s ABS Sales account for a third of issuance by all Chinese corporate issuers. Source
One of the co-founders of Funding Circle USA is stepping down and will become Chairman. Source
Lend Academy Article: MoneyLion Plus Takes An Innovative Approach to Encourage New Investors to Save
Fintech platform MoneyLion is on a mission to change consumers' behavior when it comes to saving. Source
BioCatch is a behavioral biometrics company that uses machine learning and artificial intelligence to combat fraud; the company monitors over 5 billion transactions per month and focuses on detection through behavior as opposed to endpoint security; the round was led by Maverick Ventures; American Express Ventures, NexStar Partners, Kreos Capital, CreditEase, OurCrowd, JANVEST Capital and other existing investors also participated in the round. Source
- WeChat: the real Beast from the East
- 10 key findings: Sexual harassment in the professional workplace
- Eastern Bank-created fintech Numerated lands two new bank clients
- Asia-based investors are piling into direct lending
- U.S. Fintech FinFit Announces $35 Million Senior Credit Facility With Ares Management
- Start-up to stardom, Bondora turns 10 years old
- Last China P2P Company Delists Domestically, foreseeing New Tide of Listings Abroad
The online lender has named Bank of America Merrill Lynch, Goldman Sachs, Morgan Stanley and Numis Corp to work on their upcoming IPO; the IPO is currently slated for the second or third quarter which may value the company around $2 billion; if successful it would be the largest IPO for a British fintech company; Index Ventures, Union Square Ventures and Accel Partners were early investors in the company. Source
Golden Bull operates a platform for loans secured by vehicles; the company plans to raise a total of $7 million offering 1.6 million shares; the company previously planned to offer 2 million shares at the same price between $4-$4.50 per share; Golden Bull was founded in 2015 and will list on the Nasdaq with ticker DNJR. Source