Dow Jones has released its European Venture Capital Report for the fourth quarter; shows venture capital investment in Europe increasing from the third quarter of 2016 and also from the comparable quarter in 2015; European companies raised approximately 2.93 billion euros ($3.11 billion) from 539 deals in the 4th quarter, a 35% increase from the previous quarter; the number of deals also increased by 9% from the third quarter; the UK was a market leader for investment with 122 deals totaling 754 million euros ($799.35 million). 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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Originating the loan to a borrower is just the beginning; at LendIt USA 2017 we hosted a presentation by Envestnet | Yodlee on monitoring the consumer after the loan; key items to focus on include: monitoring the lending relationship and data analysis of the borrower, ensuring you have the best data for a specific borrower, are credit data and scores enough or should you look to alternative data sources, what alternative data and details do you focus on to make sure you are making the right decision, and how do changes to income and employment effect the borrower status; focusing on the details is key, making sure you understand the different borrowers and the data points that affect them the most. Source
Personal Capital, a hybrid wealth management platform, raised another $40 million and it now brings their total funding to $200 million; this Series E round was led by IGM Financial, part of the Power Financial Corporation group of companies, with participation from other existing investors; they plan to use the new capital to expand product offerings, increase their marketing spend and build up their advisory service; they also plan to move into San Francisco and Denver, building on the markets they currently are in which include Dallas, Atlanta, New York, Greater Los Angeles and Chicago. Source
Earnings season has begun for fintech and it is not looking very good so far with Affirm and Adyen both sinking after lackluster reports. Also making news was Goldman Sachs, Robinhood, Kraken, Pipe and more.
The latest PeerIQ newsletter digs into the news from last week including...
UK mortgage loan marketplace platform, LendInvest, has released its 2016 earnings; originations on the platform increased 84% to £320 million for the year ending March 2016; company grew revenue 133% to £32 million with a profit of £3.4 million; leads most of its competitors who have been consistently reporting losses. Source
Both Marlette and LendingClub now have their own securitization platforms which has broadened their investor base; Sid Jajodia, chief investment officer at LendingClub spoke at the Structured Finance Industry Group’s conference in Las Vegas this week and discussed the importance of brining LendingClub’s loans in-house; he also spoke about their new whole-loan structured product announced in December as well as changes that might make sense for the company in the future; Karan Mehta, head of capital markets for Marlette discussed changes they are making to their whole-loan program. Source
Writing in Forbes the Founder and CEO of the Financial Health Network...
Last year the amount of global investment in Chinese fintech companies reduced...
Daimler Financial Services plans to invest 'double-digit' millions of euros in AutoGravity's vehicle financing platform; the investment will support Daimler's digital services financing portfolio; in January AutoGravity's app was launched in 46 states and it has now reported over 150,000 app downloads; it currently provides consumers with four auto financing offers. Source