AltFi reports on the new deal where Varengold Bank AG will provide £45m annually to the platform; Varengold is a German private bank which was granted a commercial banking license in 2013; MarketInvoice recently signed a similar partnership with Banco BNI Europa earlier this year. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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Ant Financial is planning to resubmit its application for U.S. review of its deal to buy MoneyGram International Inc for $1.2 billion, a source familiar with the matter said; Ant’s latest attempt for approval would be its third as the maximum time of 75 days for assessing such applications nears completion; CFIUS is a secretive government panel which reviews acquisitions by foreign entities for potential national security risks. Source
China-based Qudian said on Monday it has filed with the SEC to raise up to $750 million in an initial public offering, planning to to list on the NYSE under the symbol QD; Qudian plans to use net proceeds for strategic acquisitions and marketing and borrower engagement; Qulian provides small loans and installment-based financing for e-commerce in China. Source
Kontomatik shares how easy it is to start a lending company with the help of data via banking APIs. Source
The recent PeerIQ weekly newsletter discusses the departure of Mike Cagney from SoFi, the Goldman & Mosaic deal and provides an analysis of recent SoFi (SCLP 2017-5) and Lending Club (CLUB 2017-P1) securitizations. Source
Following the Equifax hack, Credit Karma is offering a free service that will alert customers if their information has been compromised; the service is currently being tested and will be available sometime in October; the company accelerated the launch due to the large breach at Equifax and has seen a 50% increase in signups following the hack. Source
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
Business Insider highlights the recent news of China clamping down on ICOs and the digital currency exchanges; notes that mining has not affected by the recent changes and shares that while there will be pressure on the market that this marks the beginning of a highly regulated market. Source
Lend Academy interviews Misha Esipov, the CEO and co-founder of Nova Credit; Nova Credit was the winner of PitchIt @ LendIt USA 2017; the company has created the first ever international credit bureau primarily focused on immigrants. Source