Artificial intelligence firm Cleo has raised 550,000 British pounds ($626,300) from angel investors; investors included Niklas Zennström, Jason Goodman, Alex Chesterman, Siraj Khaliq, Errol Damelin, Simon Franks, Wendy White and Joe White; Cleo is an AI-powered service working in connection with AI robots like Amazon Alexa to offer consumers personal finance advice; firm plans to use the new capital to further develop its technology and increase its user base of clients which are primarily in the UK. Source
As a fund with access to 355 venture capital funds the European Investment Fund (EIF) was able to analyze European venture capital activity from 1996 to 2015 in their new report; the report points out that new funds performed almost as well as seasoned funds in selecting winners when economic times were good; on the contrary when economic times are not as fruitful the skilled venture capitalists were better at picking companies and avoiding big losses; the big takeaway from the report is that the real skill involves avoiding the big disaster investment in tough economic times. Source
FNZ, global wealth management platform, today announced that it has agreed to acquire Appway, a client onboarding and servicing platform.
AltFi takes a look at overdrafts in the digital banking market, both arranged and unarranged; their research found that Starling...
Tradeshift Pay is a new end to end cloud based platform for supply chain payments, supply chain finance and blockchain...
N26 said they are furloughing 10 percent of their staff, cutting back on advertising spending and reconsidering their planned launch...
There is much recognition that blockchain, DLT, and associated technologies are potentially beneficial, with many use cases emerging.
MarketInvoice has launched a new product for invoice discounting; MarketInvoice Pro provides an open funding line through new technology that will make invoice financing easier and faster for businesses with an ongoing need for funding; to support the new product growth, MarketInvoice recently received a 7.2 million British pound ($9.04 million) investment from MCI Capital and Northzone Partners; with the launch of MarketInvoice Pro the firm plans to double its lending for 2017 with targeted loan originations of 2 billion British pounds ($2.51 billion). Source
We have a special episode this week: our Fintech Nexus 2022 preview show. The first order of business, LendIt Fintech is now Fintech Nexus.
SMEs are increasingly turning to loans to support business growth. Iwoca has stepped up to meet demand.