The company provides cloud-based integrated receivables software and is based in India; originally founded in 2006, this is the first external funding round for the company which boasts clients such as Adidas, Starbucks, Proctor & Gamble and more; Susquehanna Growth Equity participated in the funding; Sashi Narahari, Founder and CEO of HighRadius shares their story in the article. Source
News Roundup
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Insurtech company, Hippo, has raised $14 million in a Series A funding round led by Horizons Ventures; firm provides online home insurance offerings at a more affordable market price due to its online business model and direct to consumer offerings; says its policies are customized to meet the needs of modern lifestyles; plans to use the funding for product development and marketing for its launch to customers in California in 2017. Source
Insturech platform Hippo provides home insurance; it has now announced a new partnership with Elafris to help it develop a virtual agent chatbot powered by artificial intelligence to provide virtual customer service for its clients; in comments regarding the partnership Jake Diner, founder and CEO of Elafris, said, "Our virtual agent technology allows insurance providers to radically transform the way they acquire new customers, boost their customer reach and engagement, increase conversion rate and customer satisfaction, and ultimately grow their business faster and more efficiently."; Elafris is a leading provider of artificial intelligence solutions for insurance companies and is currently working with major national insurance providers. Source
Hong Kong's Securities and Futures Commission has entered into a cooperation agreement with the Dubai Financial Services Authority (DFSA) to establish a framework to help each other develop the fintech industry; the two regulators will work together on information sharing, innovation projects and referrals of fintech firms seeking to enter one another's markets. Source
The Hong Kong Stock Exchange (HKEX) is planning to launch a blockchain-powered private market to help smaller firms obtain financing; it would play out through a separate venture dubbed HKEX Private Market, says Charles Li, HKEX chief executive; Li has been tracking blockchain technology to upscale the operation of HKEX. Source
The Hong Kong Monetary Authority has partnered with HSBC, Bank of China, Bank of East Asia, Hang Seng Bank, Standard Chartered and Deloitte to launch a trade finance blockchain platform; trade finance operations serviced on the platform will include lending, issuing letters of credit, factoring, export credit and insurance; overall the platform is expected to increase efficiency, transparency and security. Source
HNA Capital is a private Chinese company gaining market attention in recent weeks for its acquisition of Anthony Scaramucci's Skybridge Capital and interest in acquiring more asset management businesses including Old Mutual's asset management division; the company has been acquiring assets now worth $145 billion with revenue of $45 billion annually; HNA Capital sees a market opportunity for asset management businesses with market volatility expected during the Trump administration and more investors shifting to actively managed strategies. Source
HNA is one of China's most ambitious private conglomerate investors, investing $45 billion in global deals in the last three years with high profile deals including the buyout of Anthony Scaramucci's SkyBridge Capital, and multi-billion dollar stakes in Deutsche Bank AG and Hilton Worldwide Holdings Inc.; Bloomberg reports on how the business is financed; its findings show a network of capital providers including a number of shadow bank lenders as well as trusts and asset managers resulting in over $10 billion of unlisted shares pledged to non-bank lenders and interest rates from shadow bank financings that far exceed benchmark rates from bank loans and bond issuances; Bloomberg reports additional details on HNA's financing structure and shadow banking loans as well as the shadow banking platforms it currently operates as subsidiaries. Source
HNW Lending offers secured loans from 50,000 British pounds ($62,375) to 1 million British pounds ($1.2 million) for a range of assets including planes and classic cars; the firm launched in April 2014 and is now offering the innovative finance individual savings account (IFISA) to its investors after receiving full platform authorization from the Financial Conduct Authority; the minimum investment for the IFISA is 5,000 British pounds ($6,238) and the accounts will target annual returns of 7% to 15%. Source
Investing in fix and flips is an asset class which has attracted...