Real estate investment platform, Cadre, has gained the support of a $250 million credit line from George Soros’ Soros Fund Management; the funding has been a significant factor for the real estate firm which connects institutions with real estate investments after initially investing in the deals with funds from the credit line; past funding rounds have provided Cadre with over $68 million in capital and the firm is valued at approximately $100 million; in the first half of 2016 the firm closed over $200 million in real estate investment deals; the firm was founded in 2015 by brothers Jared and Joshua Kushner and Blackstone alum Ryan Williams who will be speaking at LendIt USA in March; Jared Kushner is expected to sell his stake in 35 companies as he joins the Trump administration as an adviser. Source
News Roundup
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Raisin has reported over 2 billion euros ($2.1 billion) in investment through its platform; the company offers investors a range of savings account investments across the European Union and facilitates the account funding for the investors; the platform has gained investment of 300 million euros ($318 million) in the past three months and expects to reach the 3 billion euro ($3.2 billion) mark in the first half of 2017. Source
Germany's Federal Ministry of Finance has published a report on the emerging fintech sector; the report finds 433 fintech companies with 346 of the companies actively in business; robo advice had the highest annual growth rate; of the 433 firms, 13 were crowdlending companies with nine of the platforms actively in business; other highlights include transaction volume by segment and industry growth rates. Source
Germany's central bank is hosting a blockchain workshop as an increasing number of central banks are exploring the use of blockchain; the event is titled, "Blockchain Technology - Opportunities and Challenges"; discussions will be focused primarily for central bankers and regulators; topics will include the success of blockchain, business cases for the technology and the use of bitcoin; workshop participants include European central bankers, European Union Parliament members, financial institution executives, individuals from academia and representatives from blockchain-based companies. Source
Germany's central bank is testing the use of blockchain technology in securities settlement; the central bank has partnered with Deutsche Börse to build a prototype; the prototype system is expected to be able to transfer electronic securities and digital coins also performing functions for coupon payments and redemptions of securities. Source
Wirecard is a German payments provider that has helped to set up the current boom in fintech and banking apps in Britain; Wirecard is seen as the infrastructure behind many fintech startups that have raised hundreds of millions of pounds in the UK; companies use Wirecard to sublet their banking license and because they are able to issue cards from Visa and Mastercard. Source