Sequoia Capital and IDG Capital are investing in Bitmain, the world's largest bitcoin mining company; Bitmain is seeking $50 million in funding to expand its artificial intelligence capabilities, after previously focusing on developing chips for mining; Bitmain claimed in August that the company is at a $1 billion valuation, and is planning an IPO. Source

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Fintech News Roundup USA

·Feb. 2, 2017

Successful VC Firm Enacts New Leadership

Sequoia Capital, a well-known venture capital investor in technology, has announced executive changes that will empower a new generation of leaders for the firm; in an announcement this week Jim Goetz has named Roelof Botha as his replacement; Roelof Botha will take over Goetz's responsibilities as a Sequoia steward; Alfred Lin will also be replacing Goetz in his role managing Sequoia's United States venture business; Mr. Goetz also provided a letter to investors this week providing more insight on the changes. Source

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Asia/Pac Fintech

·Jul. 8, 2020

Airwallex is Trying to Overhaul the Traditional Payments System

As most companies were trying to figure out how to handle the economic downturn Airwallex was able to raise $160mn;...

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Fintech News Roundup USA

·Apr. 16, 2020

Robinhood Raising New Round at Rumored $8 Billion Valuation

Robinhood has been in the news in recent months related to multiple outages; now the company is rumored to be...

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Fintech News Roundup USA

·Dec. 20, 2017

Insurtech Startup Lemonade Raises $120mn Round

Insurtech startup Lemonade raised $120mn led by Softbank with backing from Allianz, Sequoia Capital and Google Ventures; the company has licenses in 25 states across the US and has sold more than 80,000 policies since launch last year; “By combining big data and AI with a seamless user experience, Lemonade is truly revolutionizing the insurance industry,” said David Thevenon, a senior investment professional at SoftBank, to the Financial Times. Source.

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Fintech News Roundup

·Apr. 11, 2017

Chart of the Week: Leading VC Investors in Unicorn Exits

CB Insights reports on the venture capital industries top investors in unicorn exits; Sequoia Capital ranks first on the list of investors investing in unicorn startups with private market exits during 2009 to March 2017; Sequoia Capital has invested in 18 companies with unicorn exits including fintech company Square Capital. Source

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Peer to Peer Lending

·Jan. 22, 2013

Prosper Reboots With a New CEO and New Funding

There is some really big news out of Prosper today. They have not only received a new $20 million round...

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