A chat about challenger banking in the US with Revolut’s US CEO...
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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During the week I share the latest marketplace lending and fintech news...
Bill Miller discusses his $154 million hedge fund MVP 1 and its 30% allocation to bitcoin in a Wall Street Journal article; the fund is up 72.5% this year and according to a letter to investors the fund paid an average price of $350 per bitcoin; while his fund has done well he is aware of the risks that bitcoin could go to zero, providing his perspective in the article. Source
Go-Jek is an Uber competitor and is now looking to lead in the payments sector in Indonesia; the company purchased offline payments service Kartuku, payment gateway Midtrans and a saving and lending firm called Mapan. Source
- Small-dollar lender Oportun to open 20 offices in Florida
- Ladder Secures $30M Series B Led by RRE Ventures
- NiYO Solutions Raises $13.2M in Series A Funding
- China's Renren Is Poised To Unlock Value From Its Investment Portfolio And Grow With Blockchain
- Chase Partners with AutoFi to Deliver Digital Car-Buying for Dealerships across the Country
- RealtyMogul Hires New Chief Investment Officer
- Online Marketplace Lender Nav Facilitated More Than 20,000 Small Business credit Approvals in 2017
- Dianrong Signs Strategic Agreement with Dalian Finance Development Bureau & Dalian Finance Industry Investment Group
- Spread Bettor IG Among Biggest Holders of Bitcoin Futures
- Fifth Third regains top CRA grade, an entree to M&A
- Roostify adds tech veteran Adnan Habib as vice president of engineering
UK online lender WiseAlpha has added corporate bonds to its investment offerings on the platform; previously the firm primarily focused on offering corporate loan investments; the corporate bonds will expand the platform's institutional debt offerings and the firm will also allow for trading on its secondary market. Source
The company may go public as soon as late autumn; sources state that the company will exceed a £1 billion valuation; investment banks are expected to be in place by spring; Funding Circle would be the first p2p lender in the UK to go public. Source
During the week I share the latest marketplace lending news on Twitter...
Accion Venture Lab, a seed stage investment vehicle for financial inclusion firm Accion, has sold its stake in Varthana; Varthana provides specialized loans and services so people in India can afford to attend private schools; Accion Venture Lab's first investment into Varthana was in 2013; Varthana recently raised $14 million in the spring of 2016. Source