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Lufax Completes Fundraising, Valuing Company at $18.5 Billion

By Bloomberg News,

Lufax, a Chinese peer-to-peer lender and broker, has secured its position as the world’s most valuable financial technology startup by completing a fundraising that it said values the company at $18.5 billion. (more…)

Cashless, China, Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending

January 18, 2016

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How John And Patrick Collison Built Stripe Into The PayPal Of The Mobile Era

By Miguel Helft for Forbes,

THE FIRST SIGNAL YOU PICK UP that John and Patrick Collison, who cofounded mobile payment phenomenon Stripe, are not big on the trappings of corporate status is a North Face backpack. (more…)

Banks, eWallets, Fintech news

January 18, 2016

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Deals: JD Finance Lands $1B Led By Sequoia China At $7.1B Valuation

Alibaba isn’t the only e-commerce service in China with a financial services arm capable of raising large amounts of external funding. While Alibaba’s Ant Financial raised an undisclosed round last summer at a colossal $45-$50 billion valuation, its rival e-commerce giant JD.com’s money-focused unit is also in the money after it took in RMB 6.65 billion (around $1.01 billion) from a clutch of high-profile investors. (more…)

Deals, Fintech news

January 17, 2016

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A lead developer just quit bitcoin, saying it ‘failed’

By Jemima Kelly for Businessinsider.com

Bitcoin slid by 10 percent on Friday after one of its lead developers, Mike Hearn, said in a blogpost that he was ending his involvement with the cryptocurrency and selling all of his remaining holdings because it had “failed”. (more…)

Blockchain, Fintech news

January 16, 2016

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Fintech news

January 16, 2016

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Fintech news

January 16, 2016

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India’s Modi Launches $1.5 Billion Fund for Startups

By Reuters,

Indian Prime Minister Narendra Modi launched a number of initiatives on Saturday to support the country’s start-ups, including a 100 billion rupee ($1.5 billion) fund and a string of tax breaks for both the companies and their investors. (more…)

Cashless, Fintech news, Government activities, India, news, SME

January 16, 2016

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Deals: Beacon Technology Company Estimote Raises $10.7 Million Series A

By Sarah Perez for Techcrunch.com

Estimote, a beacon company whose small, wireless sensors and accompanying software provide indoor location technology to some of the largest retailers as well as 65 percent of the Fortune 100, has now closed on $10.7 million in Series A funding. The round will help the business scale to meet the needs of its current customer base, around half of which is retail, as well as fund R&D efforts related to what’s next. (more…)

Deals, Fintech news, Global trends, InspirAsia, Japan

January 15, 2016

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So far, so good

By the Economist journal,

WHEN a financial firm boasts of offering the biggest loans at the lowest rates with the slimmest collateral, it has either devised the underwriting equivalent of a better mousetrap or is setting itself up for an almighty fall. (more…)

Fintech news

January 15, 2016

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Snapchat wants to manage your money

The social media service known for disappearing photos wants to manage your finances. (more…)

Fintech news

January 15, 2016

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Deals: P2P mobile payments app Kashmi rakes in US$500k seed round

Kashmi, a Singapore- and Sri Lanka-based startup that facilitates peer-to-peer payments, announced today that it has locked in funding of S$700,000 (US$497,000). (more…)

Deals, Fintech news, news, p2p-payments, Singapore

January 15, 2016

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Deals: Euclid Analytics Raises $20M Series C To Track Consumer Behavior In Retail Stores

By Catherine Shu for Techcrunch.com

Euclid Analytics plans to help more companies track customer behavior in their retail stores after raising a $20 million Series C. The funding will be used to acquire clients, add new employees, and build Euclid’s location analytics platform. (more…)

Deals, Fintech news, SME

January 14, 2016

A Bitcoin Believer’s Crisis of Faith

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Two years ago, Mr. Hearn quit a cushy programming job at Google’s Swiss headquarters to devote himself full time to what was his great passion: the virtual currency Bitcoin. He was one of a handful of developers around the world dedicated to maintaining the basic software that governs both the creation of new Bitcoins and the network on which the financial transactions take place. (more…)

Blockchain, Fintech news, Interviews

January 14, 2016

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Banks vs. Fintech? No Contest, Banks Win

By Rene Lacerte for Huffington Post,

The meteoric rise of fintech firms in recent years coupled with the surge of interest by already-established technology companies in the consumer payments space are nothing short of remarkable. (more…)

Banks, Fintech news, Global trends

January 14, 2016

SBI’s Intech to engage startups in FinTech

(SBI) chairman Arundathi Bhattacharya on Thursday announced Intech, an initiative to team up with startups to create financial technology (FinTech) solutions for banks. (more…)

Banks, Cashless, Deals, Fintech news

January 14, 2016

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Deals: PolicyGenius Raises $15 Million For Its Online Price Comparison Insurance Brokerage

By Jonathan Shieber for Techcrunch.com,

Brooklyn-based PolicyGenius has raised $15 million in a new round of funding to expand its price comparison insurance brokerage service. (more…)

Deals, Fintech news, Insurance

January 14, 2016

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PayPal Adds Bitcoin Entrepreneur To Its Board To Focus On The Future Of Money

By Jon Russell for Techcrunch.com,

PayPal has made a notable move to position itself for the future of money and currency after it added seasoned fintech figure and bitcoin entrepreneur Wences Casares to its board. (more…)

Blockchain, Cryptocurrencies, Fintech news

January 14, 2016

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Deals: Moneybox Scores $3M Seed To Make It Easy For Millennials To Save And Invest

By Steve O’Hear for Techcrunch.com

Yet-to-launch Moneybox is a U.K. startup that wants to encourage millennials who might not be thinking too much about their financial futures to save and invest. (more…)

Cashless, Deals, Fintech news

January 13, 2016

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Wealthfront Launches Portfolio Review, An Advisory Tool For Avoiding Fees And Maximizing Savings

By Jonathan Shieber for Techcrunch.com

Ever year investors pay out hundreds of billions of dollars (that’s billions with a “b”) in fees to money managers that, essentially, they really don’t need to be paying. (more…)

Fintech news

January 13, 2016

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TransferWise and YouGov report: “How Tech is democratizing the Financial services sector”

By  for Crowdfundinsider.com

Almost one third of Americans are likely to be using a technology provider and not a bank for the majority of their financial services activity in just five years time, according to a new report launched by TransferWise, the peer-to-peer international money transfer platform. (more…)

Analytics, Fintech news, Global trends, Hotnews, p2p-payments, p2p/online lending

January 13, 2016

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CoinDesk Gets Acquired By Digital Currency Group

By Lucas Matney for Techcrunch.com,

CoinDesk, one of the leading bitcoin news sites, has been acquired by Digital Currency Group according to a post on the company’s site. A source close to CoinDesk tells TechCrunch the price of the deal was around $500-600k. (more…)

Blockchain, Cryptocurrencies, Fintech news

January 13, 2016

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Fintech comes to Davos

Fintech will be high on the agenda at this year’s World Economic Forum jamboree in Davos, as senior bankers take to the stage to discuss the digital convulsion hitting their industry, and smaller startups stalk the halls.

(more…)

Fintech news, Mobile payments/banking, news

January 13, 2016

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The Peer-to-Peer Loan Industry Has Been Getting Slammed

By Tracy Alloway for Bloomberg.com

So far, 2016 has not been a good year for peer-to-peer, or marketplace, lenders. (more…)

Analytics, Fintech news, p2p-payments, p2p/online lending

January 13, 2016

BofA Has $3 Billion to Pour Into Innovation as Banks Are Swarming Around FinTech Startups

With the financial industry heating up, banking giants are looking to catch the innovation wave and leverage the opportunities FinTech startups create. One of the largest American banks, Bank of America—along with other banking industry giants—is taking steps to embrace FinTech and innovation in a wide range of financial services. (more…)

Banks, Fintech news, news

January 12, 2016

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John Biggs leaves ‘Best job ever’ to run a fintech company

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.

(more…)

Fintech news, news, People of fintech

January 12, 2016

The Business of Data

By Naka Kondo for the Economist,

More and more organisations are collecting and storing vast amounts of data. Yet for all the excitement generated by the potential of this data to transform business models—turning it directly into cold, hard cash can prove difficult. (more…)

Banks, Fintech news, Global trends

January 12, 2016

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Deals: P2P Start-Up Duanrong Completes $59M Series B Round

Chinese P2P (peer-to-peer) lending start-up Duanrong has completed RMB390 million (US$59 million) series B round of financing from pharmaceutical company Furen Group, according to announcements (in Chinese) posted on the company’s Weibo account. (more…)

China, Deals, Fintech news, Mobile payments/banking, p2p-payments, p2p/online lending

January 12, 2016

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Deals: Insurance Brokerage App FinanceFox Raises $5.5M Led By Salesforce Ventures

By Steve O’Hear for Techcrunch.com,

Like Knip, FinanceFox is another startup founded in Switzerland that is moving the insurance brokerage process online. Its mobile app lets you manage of all your existing insurance and get advice regarding gaps in your coverage or ways to save money on your insurance requirements going forward. (more…)

Deals, Fintech news, Insurance

January 12, 2016

Crowdo launches, unfazed by other ECF platforms

By Goh Thean Eu for Digital news Asia,

CROWDFUNDING platform operator Crowdo, which officially launched its equity crowdfunding (ECF) platform in Malaysia on Jan 11, believes it has what it takes to beat off its rivals and emerge on top. (more…)

Crowdfunding/investing, Fintech news

January 12, 2016

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TechCrunch Editor John Biggs Leaves ‘Best Job Ever’ And Becomes FinTech Entrepreneur

  for Coinspeaker,

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. (more…)

Fintech news, news

January 12, 2016