INSIKT is a mission-driven fintech company offering loans to thin file borrowers; so far the company has provided $390 million...
Fidelity recently conducted a survey which found that about half of institutional investors consider digital assets to be worthy of...
Cryptocurrencies have received a lot of attention in the last few months; currently there are about 15 dedicated hedge funds to the space, by end of 2017 there will be about 100 crypto hedge funds; General Crypto's Managing Partner Logan Kugler talks about the hedge fund growth and the strategy behind his fund buying and holding coins with game changing value; with a significant jump in institutional capital coming he helped put together a list of top cryptocurrency investors who all share their thoughts on their top three crypto choices. Source
NYC-based, insurance software provider Namely has obtained $50 million in Series D funding; the company offers software services for human resources, payroll and benefits; its services are targeted for small to medium-sized businesses with 50 to 2,000 employees; they have recently been enhancing their software services to offer new features including daily employee interactions and company news feeds. Source
Insurtech leader Lemonade has filed to go public; the company is backed by an A-list group of venture capitalists including...
One, Inc. has announced the closing of a Series B funding round which raised $20 million for the firm; the Series B funding follows a Series A funding round in 2014 and brings total capital raised to $36.7 million; investors in the Series B funding round included AXA Strategic Ventures, MassMutual Ventures and H&Q Asia Pacific; over the past three years the company has tripled its annual revenue and quadrupled its number of customers; offers a full Software-as-a-Service (SaaS) platform that provides for all the core functions an insurance company needs; provides solutions for both new market entrants and large insurance providers seeking new technology platforms; it plans to use the new capital to add products and business lines as well as for global expansion. Source
Online auto insurance company, EverQuote, has raised $23 million in Series B funding; the funding is part of a pre-IPO plan to provide liquidity to its founders and employees; the firm will also use the funding to hire 120 employees focused on sales and data; plans also include directly selling insurance on the platform with the use of proprietary data from the firm's app, EverDrive. Source
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.
Thomas Peterffy, CEO of Interactive Brokers Group, sent a letter to the CME and OCC Clearing Members voicing concerns about bitcoin futures; Mr. Peterffy believes bitcoin price movements are too big and arbitrary; he would prefer to put the clearing of bitcoin into an isolated clearing house or another isolated entity; he is sounding the alarm because he does not want to see the repeated mistakes of the 2008 financial crisis. Source.
Stagnant spending is not only slowing the overall economic picture but it is also cutting a big revenue driver for...