Swedish fintech startup Klarna, who along with Revolut are valued as the highest fintechs in Europe, took an annual loss...
America’s Credit Union (ACU) partners with cross border payments company Veem to expand their reach to small businesses; the partnership...
CreditEase Fintech Investment Fund (CEFIF) announced three investments in new fintech companies at LendIt USA 2017; the investments were a series C round in Trumid, an electronic trading platform for the bond market, series B round in WeConvene, an online corporate access management ERP provider for capital markets, and a seed round in WorldCover, an innovative peer-to-peer insurance network; Anju Patwardhan, senior partner of CEFIF, said: "We believe the Chinese fintech market will continue to grow in 2017 and beyond, as many three to five year-old companies have grown into large-scale operations. We expect many of these to mature into high-quality, mid-to-late stage companies." Source
Cumulative issuance for marketplace lending securitization now totals $28.2 billion across 106 deals; Q4 2017 issuance totaled $4.4 billion which was another record quarter; SoFi issued the largest consumer and student lending deals ever; PeerIQ shares other highlights in their quarterly report. Source
U.S. banks are struggling to comply with new regulations both here in the U.S. and in Europe; U.S. regulators are...
Credit Suisse is leading a blockchain project seeking to develop a blockchain-based platform for syndicated loans; Emmanuel Aidoo from Credit Suisse is leading the project which began last fall and is expected to launch in 2018; the platform would involve more efficient processing of syndicated loans which involve multiple lenders providing capital to a corporate borrower; the parties involved believe that a blockchain-based syndicated loan platform could increase deal flow by reducing costs and processing time, making syndicated loans a more attractive investment for lenders. Source
Forbes reports on new technology in the automotive sector; says internet of things connectivity will allow users to connect their bank accounts with their vehicles; Forbes talks with industry experts about the market's evolution. Source
The Financial Health Network released a study on overdraft fees highlighting that it is still a problem for the financially vulnerable.
A new study from Juniper Research notes that digital banking users will increase to 3.6 billion by 2024, a 54%...
French startup Pennylane has raised a $57 million Series B round (€50 million) from existing investors, such as Sequoia Capital (leading the round), Global Founders Capital and Partech. The startup wants to replace legacy accounting solutions in France — and in Europe. If you’re an accountant, you might be familiar with tools like Cegid and...