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Pluto AI Raises $2.1M in Funding

Pluto AI, a Palo Alto, CA-based smart water management analytics platform, raised $2.1m in funding. (more…)

AI / Machine Learning / Big Data

March 24, 2017

Banks and Tech Firms Battle Over Something Akin to Gold: Your Data

By Nathaniel Popper for CNBC,

The big banks and Silicon Valley are waging an escalating battle over your personal financial data, including the amount you spent on dinner last week and how much you are paying for your mortgage. (more…)

Banks, Hotnews, Security

March 24, 2017

MAS to roll out national KYC utility for Singapore

By Finextra

The Monetary Authority of Singapore (MAS) is piloting a national know-your-customer (KYC) utility for financial services, based on the MyInfo digital identity service, jointly developed by the Ministry of Finance and GovTech, the lead agency for digital and data strategy in Singapore. (more…)

Government activities, Hotnews, Singapore

March 24, 2017

Flipkart acquiring eBay India; raising US$2B investment: Report

By Sainul Abudhen for e27,

eBay is the sixth largest player in the e-commerce space in India after Flipkart, Amazon, Shopclues, Paytm, and Snapdeal (more…)

Deals, Global trends

March 24, 2017

Number of Vietnamese deals dropped in 2016, but were worth a whole lot more

By Kevin McSpadden for e27,

After an explosion in the number of deals in 2015, the Vietnamese ecosystem regressed to the mean in 2016. But, other data supports overall positive growth, continuing a trend that has made Vietnam the darling “up-and-coming ecosystem” in Southeast Asia. (more…)

Fintech news, Global trends, Hotnews, Vietnam

March 24, 2017

Infographic: Ecommerce in Hong Kong

Ecommerce in Hong Kong is rapidly improving, with the latest market size showing consistent growth and average spend per user is also up. A whole 80% of all consumers now transact or research online. A lot of consumers in Hong Kong looks online to find the material of need and the frequently habit of shopping will maybe surprise. (more…)

Global trends, Hong Kong

March 24, 2017

Media-for-equity for fintech startups: the new way to raise funds

Vladislav Solodkiy, managing partner, Life.SREDA VC

Media for equity is an innovative form of venture capital in which advertising inventory supplied by media partners is provided to startups in return for equity. These days, media for equity is the talk of the town. Why? Incumbent media companies are seeing (or have been seeing for the past 7–8 years) their traditional advertising revenues contract and are looking for what they call diversification revenues (hence their backing of startups that can benefit from a boost from a media partner — air time, partnerships, licensing, you name it). Additionally, success stories are increasingly fuelling their appetite to come back for more of these deals. On the flip side, advertising on TV is a pretty interesting and effective way for a consumer-facing (mobile) startup to gain access to a mass market. (more…)

Deals, Hotnews, InspirAsia

March 24, 2017

Clarity Money raises another $11 million to help users improve their financial health

By Ryan Lawler

Founded by serial entrepreneur Adam Dell, Clarity Money makes a personal finance app that aims to help users lower their monthly bills and improve their financial health along the way. Just three months after launch, the company is announcing another $11 million in funding from RRE Ventures and Citi Ventures. (more…)

Deals, PFM/PFP services

March 23, 2017

Ayondo to list in Singapore at a valuation of $158 million

ayondo is a FinTech company within social trading with CFD and Spread Betting as a part of its offering. (more…)

Deals, Financial Markets / Trading, Global trends, Wealth management

March 23, 2017

Central bank of Singapore wants to set up new framework for investment funds

By  for TechinAsia

The Monetary Authority of Singapore (MAS) continues to make it easier for investors to set up new funds and operate in the city-state. Today it announced it has opened a public consultation on a new corporate structure for investment funds. People can submit their comments on a number of questions posed in the consultation paper. (more…)

Global trends, Government activities, Hotnews, Payment processors/providers/gateways, Singapore

March 23, 2017

Octopus Ventures Raises €120M AI Focused Venture Capital Fund

Octopus Ventures, a London, UK-based venture capital firm, has raised £120m for a new fund dedicated to investing in Machine Learning and Artificial Intelligence startups in the UK. (more…)

Deals, Global trends, Hotnews

March 23, 2017

FundThis creates a ‘risk free’ crowdfunding platform

By  for Venture Beat

Fundthis is launching a new “risk-free” crowdfunding platform to enable creators to raise money for new projects, ranging from fashion ideas to tech projects.

(more…)

Crowdfunding/investing, Deals, Fintech news, Global trends

March 23, 2017

Amazon delays its entry into Southeast Asia

By Jon Russel for TC

Amazon has postponed its much-anticipated entry into Southeast Asia. The company initially planned to launch local e-commerce services in Singapore during the first quarter of this year, as we reported in November, but two sources with knowledge of the plans told TechCrunch that the schedule has slipped to “later this year”. (more…)

Global trends, Hotnews

March 23, 2017

Revolut to undertake £4 million crowdfund raise; launches subscription service

Revolut is taking a leaf out of Amazon’s playbook, launching a Prime-like subscription account that gives members cheaper deals and the opportunity to participate in a forthcoming crowdfunding raise. (more…)

Deals, Global trends, Hotnews, Payment processors/providers/gateways, Remittances

March 23, 2017

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SAP Ariba Will Use Blockchain to Track Shipments, Ensure Authenticity

By Tom Groenfeldt for Forbes,

SAP Ariba, which connects 2.5 million buyers and sellers around the world through its network, today announced it will offer blockchain record-keeping across its cloud-based applications and business network. (more…)

Blockchain, Global trends, Hotnews

March 23, 2017

Malaysia’s Jirnexu raises $1.5 million for fintech software

by  for VB

Malaysian fintech startup Jirnexu has raised $1.5 million in funding from DMP, Gobi Partners, and OSK Ventures International Berhad (OSKVI). (more…)

Deals, Hotnews, InspirAsia, Malaysia

March 23, 2017

Amazon Plans a Big Acquisition in the Middle East

Amazon .com has agreed in principle to buy 100% of Dubai-based online retailer Souq.com from its shareholders, sources familiar with the deal said on Wednesday. (more…)

Deals, Fintech news, Global trends, Hotnews

March 23, 2017

SAP Ariba unveils Procurement bot, an AI assistant for supply chain management

By Khari Johnson for Venture Beat,

SAP Ariba unveiled an AI-powered assistant named Procurement today to speak with buyers and suppliers about orders in a conversational interface. The announcement was made onstage at SAP Ariba Live conference in Las Vegas. (more…)

Fintech news, Global trends

March 23, 2017

Solarisbank raises $28 million with sights set on Asian market

By BI Inteligence,

While the US and European fintech markets seem to have stalled, Asia continues to show robust growth. (more…)

Banks, Deals, Hotnews

March 22, 2017

Goldman building robo-adviser to tap mass affluent client segment

GOLDMAN Sachs Group, known for advising the world’s richest and most powerful, is building a so-called robo-adviser geared to mass affluent customers, according to a job listing posted Monday on the bank’s website. (more…)

Banks, Global trends, Hotnews

March 22, 2017

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MAS Conclusion about Distributed Ledger Technology in Securities Settlement and Cross Border Payments

By FintechNews.Sg

The Monetary Authority of Singapore (MAS) today announced the successful conclusion of the proof-of-concept project to conduct domestic inter-bank payments using distributed ledger technology (DLT). The project, in partnership with R3 and a consortium of financial institutions, was first announced on 16 November 2016 by MAS. (more…)

Blockchain, Cryptocurrencies, Government activities, InspirAsia

March 22, 2017

SAMSUNG-PAYMENT

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Deutsche Bank opens New York innovation lab

By Finextra,

Deutsche Bank has opened an innovation lab in New York, its fourth globally after Silicon Valley, Berlin and London. (more…)

Banks, Global trends

March 22, 2017

All 51 startups that debuted at Y Combinator W17 Demo Day 2

Over 15,000 founders from 7,200 startups applied to this batch of Y Combinator. It chose just over 100 with founders from 22 countries to go through its accelerator program. Today, the second half of those companies launched on stage, and we have breakdowns of all 51 of these businesses. (more…)

Deals, Global trends, Hotnews

March 22, 2017

5 insurtech trends to watch in Southeast Asia

By Colin Wu for Tech in Asia,

When you think of insurance, certain things come to mind. The overbearing smell of coffee when meeting your own insurance agent for one, or the ink fumes after filling in the long insurance plans. For better or worse, convoluted insurance plans are a feature in our daily lives. (more…)

InspirAsia, Insurance

March 22, 2017

Fabric raises $2.5 million to simplify life insurance

By  for Venturebeat

Parents’ worry for their children often leads them to what should be a simple decision: life insurance. But the process can be complex and expensive. Fabric wants to change that by providing a straightforward mobile solution that bypasses commission-driven insurance agents. The Brooklyn-based startup launched today and announced a seed round of $2.5 million led by Bessemer Venture Partners. (more…)

Insurance

March 21, 2017

Indonesia’s Pawoon app for small businesses raises series A

By Nadine Freischlad for Tech in Asia, 

Pawoon, one of the point-of-sales startups targeting Indonesia’s millions of small and medium businesses, has raised a series A round of funding. (more…)

Fintech news, POS/mPOS and online acquiring, SME

March 21, 2017

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State Bank of Vietnam establishes fintech steering committee

Governor of the State Bank of Vietnam (SBV) signed Decision No.328/QĐ-NHNN to establish SBV Steering Committee on Financial Technology (Steering Committee on Fintech). (more…)

Banks, Government activities

March 21, 2017

RegTech Companies in the US Driving Down Compliance Costs to Enable Innovation

By LTP

Regulatory and compliance issues are some of the most important, complex and resource-consuming problems to solve for any organization, especially for startups with limited resources. Over decades of development, regulatory requirements and documentation have grown into a matter of special expertise and skills to decode. Globally, ~$80 billion is spent on governance, risk and compliance, and the market is only expected to grow, reaching $120 billion in the next five years. (more…)

RegTech

March 21, 2017

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How Banks Can Partner With Lending Startups: The Construct

Kotak Bank is looking for digital lending partners globally. Startups from any country can apply.

(more…)

Banks, Fintech news

March 21, 2017