CoinDesk reports that the Ethereum incubator has cut over 90 staff, or...
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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A report from Crowdfund Insider says AssetAvenue has stopped originating loans; the California-based marketplace lender was providing property loans through its digital platform; firm raised $11 million in a Series A funding round in 2015; the firm's loans were primarily averaging approximately $2 million and the platform was open to all types of investors. Source
When you look at the spread of late payments from the post...
Financial trading startup Alpaca has raised $1.75 million from private market venture capitalists; company is using artificial intelligence and database technology to develop software as a service for investment market traders; current products include AlpacaAlgo with over 25,000 user built trading algorithms; platform has executed over $100 million in transactions. Source
Writing in Forbes, Brock Blake, the CEO of Lendio shares the good,...
JPMorgan Chase, American Express and HSBC said they are leading a $40mn round into Menlo Security; banks are usually a lot more secretive about security investments but they see a wider industry potential in using isolation technology; the technology can better defend against phishing attacks which account for most breaches as employees click on a fake link that then causes malware to infect the computer; when a user clicks on a link they open a browser that really is a one time instance in the cloud and prevents malware from downloading onto a computer; while some big banks have started using the technology more there has not been a significant rush yet. Source.
Harvard Business School has released a comprehensive report on the state of small business lending and its current landscape; Lend Academy provides more details in their article with insight from author, Brayden McCarthy of Fundera; paper includes details on the evolution of online lending within the small business lending market; goals of the paper include laying a foundation for regulatory reform and exploring how online small business lenders can partner with banks. Source
During the week I share the latest marketplace lending and fintech news...
Partech Ventures has raised 100 million euros for its Partech Entrepreneur II investment fund; funds are used to invest in seed funding for startup companies; investment was raised from 90 entrepreneurs, business angels, senior managers of tech groups, and public and private participants; the fund invests in disruptive companies with the potential for major technological innovations; the company plans to use the funds to invest in 80 startups with company investment averaging three per month; the firm has been an active investor in marketplace lending companies. Source
Off the recent news about Stripe's fundraising round, payment companies across the board are seeing growth and increased investor interest; Adyen BV, WePay, PayPal and Square are just a few of the other, well positioned names who are benefiting from the sector wide growth; Square's stock price rose on news of the Stripe fundraising; as online lenders have struggled, payment firms have only continued a pattern of growth, even more evident by the recent holiday sales numbers that showed 109 million people shopped online, more than the 99 million who went to the stores. Source