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·Mar. 17, 2017

Nearshore Systems Reports Partnerships for Online Lending Blockchain Platform Development

Nearshore Systems announced two online lending platform development partnerships at LendIt USA 2017; the software engineering firm was chosen by Dianrong to support the efforts of the firm's new blockchain-based solution; Nearshore was also selected by US-based Hijro to support the development of the firm's trade finance platform built on distributed ledger technology. Source

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Fintech News Roundup USA

·Apr. 28, 2017

New Fintech Initiative in Chicago Called Currency

FinTex Chicago is launching Currency on June 1; Currency is a new initiative from the nonprofit group that will provide a new resource for startups; Currency will be located at WeWork on 20 W. Kinzie Street and will potentially rent some of its 32-desk space; Currency is expected to be a gathering place for fintech startups, academics, regulators and established firms in Chicago, according to Jason Henrichs, co-founder of FinTex Chicago; Currency and its partners also plan to share online resources and offer programming on the fintech regulatory environment. Source

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Fintech News Roundup Regulation USA

·Dec. 19, 2016

New Initiatives for Small Business Support within the SEC

The SEC Small Business Advocate Act of 2016 (HR3784) was signed into law; the law will add a new office within the Securities and Exchange Commission (SEC) for small business advocacy; the small business advocacy office will oversee and support regulation and investment activities for small businesses and small business investors; the new law will also establish a small business capital formation advisory committee that will advise the SEC on small business market activity. Source

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Fintech News Roundup USA

·Jan. 11, 2017

New Insurtech Platform Launches for Digital Life Insurance

New insurtech platform Ladder has launched, offering digital life insurance; the platform's life insurance product will be available to consumers in California; the company is marketing a faster, more efficient process for life insurance applications and coverage; its platform can approve customers in minutes for life insurance policies up to $8 million; it charges no annual policy fees and its policies are reinsured by Hannover Re US. Source

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News Roundup Online Lending USA

·Feb. 9, 2017

New Marketplace Lender Float Launches in the US

Float will offer credit lines for US consumers in California and Utah; based in Los Angeles the company also announced a $3 million funding round from finance and tech industry angel investors; the company plans to expand to all 50 states over the next six to 12 months. Source

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Finance Fintech News Roundup USA

·Dec. 12, 2016

New Digital Assets Hedge Fund Raises $10mn from Top VCs

Polychain Capital, a hedge fund that focuses on investing in digital assets such as bitcoin and ether has raised $10 million; the funding comes from venture firms Andreessen Horowitz and Union Square Ventures; the company launched in September with $5 million from 30 investors and is led by Olaf Carlson-Wee who was also the first employee of Coinbase; according to Olaf: "There will be many types of assets codified into the blockchain, and they are all not just going to be on the bitcoin blockchain — it's going to be a number of different assets here. And the best way to invest in that is a diversified portfolio." Source

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Fintech News Roundup USA

·Apr. 3, 2017

New Fundraising for Robinhood Values the Stock Trading App at over $1bn

Robinhood is currently undergoing a new fundraising deal that values the company at approximately $1.3 billion with investment from DST Global; the undisclosed funding will add to previously raised capital of $66 million; the firm offers commission free trading on US stocks and has also launched a premium Robinhood Gold option for faster money transfers and margin trading. Source

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Fintech News Roundup USA

·Mar. 22, 2017

New Insurtech Firm Fabric Launches with Narrow Focus

Fabric is a new insurtech startup that is looking to focus on new and expecting parents; they currently have two offerings, Fabric Instant and Fabric Premium; Fabric Instant is an accidental death policy which you can obtain in two minutes with minimal information and Fabric Premium is their 20 year policy which requires a checkup; they recently raised a $2.5 million seed round from Bessemer Venture Partners for their launch and continued product development; policies are currently underwritten by Vantis Life Insurance at $6 per $100,00 of coverage. Source

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News Roundup Online Lending Regulation USA

·Dec. 7, 2016

New Law in New York Providing More Support for Transparency in Online Lending

A new law has passed in New York to provide support for online lending; the law includes direction for the development of an outreach campaign that will educate small businesses about marketplace lending; educational materials will come from the Department of Economic Development and the Department of Financial Services and will include simple language detailing potential costs and risks including the disclosure of percentage rates, fees, charges and early repayment options. Source

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Fintech News Roundup Online Lending USA

·Mar. 29, 2017

New Models of Raising Debt and Equity Funding: eREITs & More

Offering products to retail investors is something a lot of online platforms have struggled with as they look for diverse funding sources; the panel at LendIt USA 2017 entitled: New Models of Raising Debt and Equity Funding: eREITs & More with Kendall Davis of Fundrise, Jilliene Helman of RealtyMogul.com and moderator Mesh Lakhani of Mark 2 Capital discussed one of these retail options; panelists focused on how they source deals, inbound versus outbound sales teams, and how you must learn to be selective when looking at dealflow; the eREIT is a good portfolio addition for investors, it is long term and lacks volatility; panelists also discussed their thoughts on the new Trump administration and future innovative ideas for their platforms. Source

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