CODIX examines reasons why organizations withhold plans for replacing their IT solutions, why they must replace, and when it is the right time to change in their white paper. Source
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WSJ published a story on China’s consumer credit rating ecosystem: the fact that China doesn’t have a widely accepted system to gauge individual’s creditworthiness leads technology giants (Ant Financial, Tencent among others) to developing their own credit-rating systems, but none of these projects has emerged as a single nationwide standard either yet; problems with generating credit scores in the private sector include data accuracy and privacy; the story says the lack of a single accepted standard is holding back the growth of borrowing among rising middle class in China. Source
deBanked reports that Wold Business Lenders (WBL) has purchased several assets from Bizfi including the brand, marketplace, the Next Level Funding renewal book and other pieces of the company; WBL, a small business lender will lend on the platform; Stephen Sheinbaum, founder of Biz joined WBL as a managing director in July; several other Bizfi staff have joined WBL. Source
Bloomberg discusses the inner workings of SoftBank’s fund which includes Apple and Saudi Arabia; many former Deutsche Bank AG traders work at the firm; it has invested in a broad range of companies and is currently the world’s largest private equity fund. Source
Until now little has been known about the hedge fund that invests in cryptocurrencies; it is backed by big names including Andreessen Horowitz, Sequoia Capital, Union Square Ventures, Founders Fund and Bessemer Venture Partners; the firm owns about a dozen cryptocurrencies, taking a value investing approach; Fortune shares more details about how the fund operates and the eye popping returns the fund has returned to date. Source
The round was led by Five V Capital, who reportedly invested $8.5 million; company plans to boost number of employees from 50 to 80 in the next year; RateSetter Australia has doubled is loan levels since 12 months ago; Daniel Foggo, RateSetter chief executive stated, “In August, we became the largest peer-to-peer lender in Australia — both in terms of the number of lenders, and the number and value of loans funded each month.” Source
Last week Prosper closed their Series G, raising $50 million from an investment fund co-managed by FinEx Asia and LPG Capital based in Hong Kong; sources say the post money valuation was $550 million, approximately a 70% drop from their high in 2015; Peter Renton reflects on the investment and the current state of the market. Source
The CEO and co-founder of AutoGravity talks about how they are bringing the car buying and financing experience into the 21st century. Source
ConsenSys has announced their latest venture, a peer to peer trading company called CarbonX; CarbonX plans to tokenize carbon credits; the company is backed by a co-founding group that includes the Tapscotts, authors of Blockchain Revolution: How the Technology Behind Bitcoin is Changing Money, Business and the World; Joseph Lubin, Founder of ConsenSys stated, "As one of the fastest growing companies working on Ethereum, a platform that is poised to reformat how the world organizes itself, ConsenSys is committed to enabling technologies to be built that will facilitate attention to externalities like pollution and critical new foundations like sustainability. CarbonX has the potential to incentivize behavior that contributes to environmental sustainability, and is an excellent example of Ethereum-based technologies poised to make positive change." Source