Some viewed Klarna as the next PayPal or Block Inc., companies that have grown by stealing business traditionally dominated by banks....
The firm is targeting capital at early-stage investments in enterprise, consumer, hardtech, fintech and healthcare companies.
Knock has raised $32 million in a Series A funding round; the firm plans to launch an online real estate platform that will provide for greater real estate market liquidity; the firm will compete with OpenDoor and OfferPad also offering similar services; it's currently testing its platform investments in Atlanta, Georgia. Source
Mexican Konfio upsized its borrowing line with Goldman Sachs and Gramercy as it seeks to increase SME lending in the region.
Mexican small businesses are being hit by the pandemic just as much as other markets and they are in desperate...
Shares in Kakao Pay, the fintech unit of South Korea’s largest messaging app operator Kakao Corp, closed up 114% in its market debut on Wednesday. The Ant Financial-backed company ended day one of trading at $163.3 (193,000 won), securing a market capitalization of $21.2 billion. Kakao Pay’s shares surged as high as $194.6 (230,000 won)...
While the full English report is still in the works KPMG releases their annual Fintech 50 for China; China has become one of the most important fintech markets in the world as some of the largest companies are from the market; they are also one of the most diversified markets as they have leading companies in insurtech, payments, regtech and online lending. Source.
The KPMG Pulse of Fintech Q3 report pointed to 274 deals worth over $8bn in investment; the hottest areas of investment include artificial intelligence, insurtech, regtech and blockchain; the three biggest countries come as no surprise with the US, China and the UK dominating their respective regions. Source.
U.S. based cryptocurrency exchange Kraken has agreed to acquire London based Crypto Facilities as they make a push into futures...
The company plans to shut down all operations in Japan by end of June 2018; overseas Japanese investors who use domestic banks will still have access to trading activities in the local market; cost and resources were the main drivers behind the decision. Source.