Kleiner Perkins Caufield & Byers partner Mary Meeker is delivering her annual rapid-fire internet trends report right now at Code Conference at the Terranea Resort in California.
People of fintech
By Crowdfund Insider
Ravi Menon, current Managing Director of the Monetary Authority of Singapore (MAS), has been re-appointed to the MAS board of directors. His term on the Board has now been extended to June 1, 2019. (more…)
By American Banker
Companies that aggregate consumers’ financial lives are having a moment. (more…)
Invoice Bazaar Supply Chain Finance platform connects large buyers with SME suppliers which enables them to avail early payment on their receivables (more…)
By CryptoCoins News
Federal Treasurer Scott Morrison has said that the growth of FinTech and the financial sector moving into the digital space has produced a shift in how businesses operate presenting challenges and opportunities. (more…)
By CryptoCoins News
Haipo Yang, ViaBTC’s founder and former employee at the Chinese internet giant Tencent, expressed strong criticism in a brief interview with CCN towards Luke-Jr, a Bitcoin Core developer and Blockstream contractor, regarding his proposal to reduce the blocksize to 300kb or, alternatively, for the network to wait another 7 years before an increase of the current 1MB transaction capacity. Yang says: (more…)
According to CB Insights, vc activity related to insurance startups hit its highest annual total in 2016 with $1.69B invested in 173 deals.
In this space, one of the first cases on thematic investors focused exclusively on investing in insurance startups comes from London with Eos Venture Partners, an independent and specialist InsurTech investment and advisory firm launched by Sam Evans.
By BÉRÉNICE MAGISTRETTI for Venturebeat
Rumors have been spreading lately about where Jay Leek, former managing director and chief information security officer (CISO) at Blackstone, will be heading next. His pick? ClearSky, an under-the-radar venture capital firm based in Palm Beach, Florida, where he will be managing a $300 million fund dedicated to cybersecurity. (more…)
By Shai Oster and Selina Wang for Bloomberg
Women launch more than half of all new Internet companies in China.
Renaud Laplanche, the LendingClub Corp. founder who stepped down as chief executive officer in a May shakeup, is selling stock in the company valued at $20.1 million.
Laplanche disclosed a plan to execute options for 4.63 million shares of the San Francisco-based company in a filing dated June 29. Calls to Laplanche and LendingClub weren’t immediately returned.
Laplanche, 45, resigned as chairman and CEO in May, setting off a slide in LendingClub’s stock. The company, which matches consumers seeking loans with investors willing to fund them, said the exit was prompted by two incidents: Staff had altered application dates on some loans before their sale, and Laplanche failed to disclose his interests in a fund that LendingClub was considering investing in.
It’s hard to deny the brain drain to the FinTech industry occurring nowadays. And this is no surprise – the industry has been showing rapid growth recently. The overall investment in the sector reached millions of dollars and financial technology startups inconspicuously turned into red hot investments.