- Today’s main news: Banco BNI starts lending through Fellow Finance. eBay drops PayPal for Adyen. Aviva exec backs robos. OneConnect secures $650M funding. Stripe sets up engineering hub in Dublin. EBANX gets $30M in funding from FTV Capital.
- Today’s main analysis: FT Partners’ Alternative Lending Market Analysis for January, and an interview with Nav CEO.
- Today’s thought-provoking articles: PeerIQ reviews last week’s news. Open banking’s early adopters. Robo-advisors gaining speed in Europe. Disruptive innovation in equity crowdfunding. Disruptive innovation in digital banking.
- eBay ditches PayPal for Adyen. AT: “This is an interesting trade-off, and I wonder what the benefits are to eBay’s users.”
- Bank of America Merrill uses PayPal for digital payments.
- PeerIQ’s review of last week’s news. AT: “Yellen chaired her last Fed meeting, plus other news Lending Times covered last week.”
- FT Partners CEO’s alternative lending market analysis. AT: “If you read this for any reason, check out the exclusive interview with Nav CEO and founder Levi King.”
- Open banking’s early adopters. AT: “BBVA Compass is one of only about five banks in the U.S. to adopt open banking so far. It will be interesting to see how it works for these banks as the rest of the industry will be watching.”
- Fiserv has the largest U.S. marketshare of top bank core processors.
- Enova announces Q4 and 2017 full year results.
- Grameen America has a unique approach to microlending. AT: “An interesting story about a microlender in the U.S. whose target market is women.”
- Morty is an online mortgage broker targeting women.
- Hackers target payroll direct deposit through email phishing scams.
- Will marketplace lending live up to expectations?
- Beating the robots on financial advice.
- Dealmakers embrace financial advice tech.
- American Association of Private Lenders opposes Floria legislation.
- dv01 names new COO.
- DC startups that raised capital last month. AT: “Congratulations to StreetShares.”
- Aviva executive backs robo-advisors.
- Treasury starts SME finance inquiry.
- Pros and cons of IFISAs.
- Things can only get better with P2P lending.
- Previse gets two new board members.
- Banco BNI Europe lends on Fellow Finance. AT: “The bank is making a huge push into marketplace lending.”
- Stripe opens engineering hub in Dublin. AT: “The most interesting news today is taking place in Europe.”
- Robo-advisors taking hold in Europe. AT: “No big surprise. It’s catching on everywhere.”
- BBVA’s digital push drives up profits.
- Etherecash lists on QRYPTOS.
- GN Compass creates more liquidity for token.
- Mifid tips balance in favor of ETFs.
- Deloitte: Disruptive innovation in equity crowdfunding.
- Deloitte: Disruptive innovation in digital banking.
- IdentityMind Global intros KYC, AML plugin for ICOs.
- Bahrain FinTech Bay, OffrBox partner.
- How early-stage startups raise money.
- Faircent CEO says fintech will revolutionize lending.
- Everything you need to know about cryptocurrencies.
- United States
- eBay ditches PayPal for Adyen (Fintech Futures), Rated: AAA
- PayPal powers BofA Merrill digital payments (Fintech Futures), Rated: A
- Strong Job Gains, Marcus Acquihires, MLA Testimony (PeerIQ), Rated: AAA
- CEO Monthly Alternative Lending Market Analysis (FT Partners), Rated: AAA
- Open banking’s early adopters bet on ‘tremendous gains in value’ (American Banker), Rated: AAA
- Fiserv Has Largest U.S. Marketshare of Top Bank Core Processors (Bank Innovation), Rated: A
- Enova Reports Fourth Quarter and Full Year 2017 Results (PR Newswire), Rated: A
- No Credit? No Problem! Microlender for Women Uses Novel Approach (WSJ), Rated: A
- How This Founder Is Using Fintech To Give Women More Financial Control (Benzinga), Rated: A
- Hackers Targeting Payroll Direct Deposit (PYMNTS), Rated: A
- Will Markets Ever Live Up to Our Expectations (Guru Focus), Rated: A
- How to Win Man vs. Machine Advice Game (ThinkAdvisor), Rated: A
- The dealmakers financing top adviser technology (InvestmentNews), Rated: A
- American Association of Private Lenders Opposes Florida Mortgage Licensing Bills (PR Newswire), Rated: A
- Amy Johnson Named as Chief Operating Officer at dv01 (PR Newswire), Rated: B
- The 10 D.C. Area Startups That Raised Capital in January (DC Inno), Rated: B
- United Kingdom
- Aviva executive backs robo-advisers in call for financial advice shake-up (New World News), Rated: AAA
- Treasury begins SME finance inquiry (Bridging&Commercial), Rated: A
- The pros and cons of each of the six types of ISA on the market (Your Money), Rated: A
- Things can only get better, says Christie & Co (The Caterer), Rated: B
- Sainsbury’s and British Land chairmen join late payments start-up (Financial Times), Rated: B
- Ping An OneConnect fintech subsidiary raises $ 650 million in financing (Finextra), Rated: A
- European Union
- Banco BNI Europe Starts to Lend on Multiple P2P Lending Platforms (P2P-Banking), Rated: AAA
- U.S. Fintech Stripe Picks Dublin for New Engineering Hub (U.S. News), Rated: AAA
- Robo Advisers Start to Take Hold in Europe (WSJ), Rated: AAA
- BBVA’s digital push helps drive 20% profit rise (Financial Times), Rated: A
- Top P2P Cryptocurrency Token Etherecash Gets Listed on QRYPTOS, Following Successful Crowdsale (The Daily Telescope), Rated: A
- GN Compass Creating More Liquidity for its Token, GNCT (PR Web), Rated: B
- Mifid tips balance against active funds in favour of ETFs (Financial Times), Rated: B
- Disruptive innovation in equity crowdfunding (Deloitte), Rated: AAA
- Disruptive innovation in digital banking (Deloitte), Rated: AAA
- IdentityMind Global Introduces KYC and Anti-Money Laundering Plug-in for ICOs (Crowdfund Insider), Rated: A
- BFB partners with US real estate fintech start-up (Trade Arabia), Rate: A
- How early-stage startups raise money (Times of India), Rated: A
- FinTech will revolutionise lending in India, says Faircent CEO (money control), Rated: A
- Everything you need to know as pressure mounts on cryptocurrencies (GK Men), Rated: B
- After a Successful Crowdsale Campaign, Karma (KRM) Begins Trading With Blockchain (Coin Idol), Rated: AAA
- Why Blockchain’s Growing Pains Could Benefit Underbanked SMBs (PYMNTS), Rated: AAA
- Top 20 Fintech Startups In The Middle East (Forbes), Rated: AAA
- StartAD launches on February 18 for fintech startups (Arabian Business), Rated: A
- Latin America
- Brazilian Fintech EBANX Secures $ 30 Million Investment From FTV Capital (Crowdfund Insider), Rated: AAA
eBay ditches PayPal for Adyen (Fintech Futures), Rated: AAA
Looking to sweeten this bitter pill, eBay says PayPal, a “long-time” partner, will be an option at the checkout for its buyers.
PayPal powers BofA Merrill digital payments (Fintech Futures), Rated: A
Strong Job Gains, Marcus Acquihires, MLA Testimony (PeerIQ), Rated: AAA
Janet Yellen chaired her last Fed meeting as the committee kept interest rates on hold in January. Futures are pricing in a 93% probability of a rate hike in March and 3 rate hikes for 2018. The recent sell off on the long end of the curve has seen 10-year treasury yields edge past 2.85%, providing respite to banks who were seeing their loan margins compress as the curve flattened.
In securitization news, Marlette completed its largest securitization to date, with MFT 2018-1 coming in at $464 Mn. The deal was significantly over subscribed and eventually upsized continuing the trend of larger deal size that we pointed out in ourQ4 securitization tracker. The senior tranches were rated AA by Kroll. The collateral pool has 40,303 loans with an average loan balance of $12k, weighted average coupon of 14.3% and a FICO score of 703. All the loans were originated by Cross River Bank.
CEO Monthly Alternative Lending Market Analysis (FT Partners), Rated: AAA
This month’s report features an exclusive interview with Levi King, Co-founder and CEO of Nav, which is a data aggregation platform and marketplace that bridges the gap between small businesses and financial institutions. In the interview, Levi discusses the motivation behind founding Nav and how the company solves the challenges small businesses face managing their credit and securing financing solutions, among other topics.
Download and read the full report here.
How This Founder Is Using Fintech To Give Women More Financial Control (Benzinga), Rated: A
Morty is an online mortgage broker. Our mission is to empower homebuyers to make smarter home financing decisions. With a modern tech stack and a marketplace of lenders, we offer customers the most options, great rates, and a transparent process.
What surprised you the most in the fintech industry in 2017?
That there wasn’t more innovation in the mortgage space. It’s the only lending vertical that hasn’t moved online- credit cards, student loans, small business loans, personal loans- all have a big online presence. There is still so much to be done in mortgage, it’s exciting.
Hackers Targeting Payroll Direct Deposit (PYMNTS), Rated: A
In an article penned for JD Supra by law firm Ogletree, Deakins, Nash, Smoak & Stewart, P.C., experts warned of a type of payroll scam that sees fraudsters diverting direct deposits from employee accounts to criminal accounts.
According to the firm, fraudsters use a phishing scam by sending an email from an address similar to a legitimate company account.
Ogletree Deakins warned that not only does this scam result in lost funds, but it is ultimately a data breach, with scammers gaining access to corporate systems and data. The report also noted that scammers are targeting all types of businesses using all types of payroll providers.
Will Markets Ever Live Up to Our Expectations (Guru Focus), Rated: A
The fintech industry is the powerhouse behind the meteoric rise of the peer-to-peer lending market. After several platforms launched online payments, it was only a matter of time before new ones emerged offering lending services that are offered by and to registered members.
LendingClub Corp (NYSE:LC) has been one of the most notable players in this space and its popularity pushed it public in 2014. However, since then, the company has struggled to live up to expectations, reflecting the actual picture of the status of the peer-to-peer lending.
According to critics, while peer-to-peer lending is an attractive option for borrowers looking for alternative financing solutions, it appears to have growth limitations due to lack of funding for new products. Peer-to-peer lending platforms do not take deposits and this is a limiting factor, but analysts suggest that if they are to grow to the point of rivaling the mainstream lending market, then they may have to start taking customer deposits.
How to Win Man vs. Machine Advice Game (ThinkAdvisor), Rated: A
TD Ameritrade put the competitive pressures tied to robo-advisors and other technology left, right and center at its LINC 2018 RIA conference this week in Orlando. Industry leaders highlighted the power and threat of technology and how to address these trends in the advice business.
The dealmakers financing top adviser technology (InvestmentNews), Rated: A
It’s impossible to look at the landscape of modern adviser technology without seeing Steve Lockshin’s footprints.
As an early investor in Betterment, Mr. Lockshin, 41, was instrumental in encouraging the robo-adviser to pivot from competing against advisers to partnering with them.
Brad Bernstein could see the role of advisers was changing.
What was once an industry of investment managers and salespeople was shifting to financial planning. Driving the change was technology — automating and commoditizing many of the ways advisers traditionally added value for clients. Mr. Bernstein, 51, managing partner at growth equity firm FTV Capital, believed there was a demand for products that helped advisers better articulate their value to clients.
That’s what attracted Brooks Gibbins, 45, to the industry when he founded FinTech Collective with his partner, Gareth Jones, in 2012. The venture capital firm has been one of the most active early-stage fintech investors over the past five years, seeding some of the biggest names on the adviser fintech scene.
Seeing the opportunity for adviser fintech startups to get acquired by, or partner with, financial institutions, Ian Sheridan decided to draw on his more than 25 years of experience in the financial services industry — working in wealth, retirement and investing in startups — to identify which technology would be part of the next wave of innovation.
Fidelity rocked the adviser fintech world in 2015 when it acquired eMoney, one of the most popular financial planning and client portal tools among independent advisers. The reported $250 million price tag proved there was money to be made in adviser fintech.
“Prior to that, there was good technology out there, but there wasn’t this stream of new business models, this new equity flowing in,” said Mike Durbin, 50, the president of Fidelity Institutional who spearheaded the deal. “The pace has clearly quickened.”
After a career that took him from E.F. Hutton to founding the Lockwood family of companies, Len Reinhart turned toward private investing in retirement.
American Association of Private Lenders Opposes Florida Mortgage Licensing Bills (PR Newswire), Rated: A
The Florida legislature kicked off its legislative session by introducing Florida Senate Bill 894 and House Bill 935, legislation that could cover private mortgage lenders. The bills, introduced by Sen. Rene Garcia (R-Miami) and Rep. Jeanette Nunes (R-Miami), would eliminate a longstanding business purpose exemption for loans secured by a Dwelling.
On January 18, the bill passed the House Insurance and Banking Subcommittee with a 13-1 vote. On January 24, the House Commerce Committee passed the bill on a unanimous vote. The Senate similarly passed the bill on a unanimous vote in the Senate Banking and Insurance committee on January 23.
American Association of Private Lenders’ (AAPL) position is that the proposed regulation would harm Florida residents, business and the state’s economic growth by consolidating power to a few licensed parties. Private lenders provide much needed capital to a marketplace which is underserved by large financial institutions. Professional business parties need to be able to work with each other without significant regulatory intervention. The proposed regulation would result in less market competition, translating to higher interest rates, a higher cost of credit and would force business out of Florida and into neighboring states including Alabama, Georgia, Tennessee, North and South Carolina, all of which exempt business purpose loans from licensing requirements.
Amy Johnson Named as Chief Operating Officer at dv01 (PR Newswire), Rated: B
dv01, the data management, reporting, and analytics platform that provides institutional investors insight into lending markets, today announced the appointment of Amy Johnson as Chief Operating Officer. Johnson will report to dv01 founder and CEO, Perry Rahbar.
As COO, Johnson will be responsible for dv01’s finance, legal, and sales efforts, including helping execute the company’s vision and scale its operations.
The 10 D.C. Area Startups That Raised Capital in January (DC Inno), Rated: B
Reston, Va.-based online lender StreetShares closed $23 million in equity funding on Jan. 24. The lender focuses on veteran-owned small businesses and relies on a peer-to-peer lending model. About $20 million of the new round is from Bethesda, Md.-based firm Rotunda Capital Partners. Previously, StreetShares had raised $8.3 million between three rounds.
Aviva executive backs robo-advisers in call for financial advice shake-up (New World News), Rated: AAA
An Aviva executive has backed the rise of robo-advisers and called for a shake-up of financial advice to help open up the industry to the mass market.
Andy Briggs, chief executive of Aviva UK Insurance, said the current regime is freezing out large swathes of the population because only the upper echelons can afford the hefty fees.
Mr Briggs said robo-advisers could also be more powerful and beneficial to customers if the artificial intelligence did not have to carry out full financial assessments.
Treasury begins SME finance inquiry (Bridging&Commercial), Rated: A
The committee will also consider the regulation of SME lending and whether banks should be bound by a broader set of duties when dealing with SMEs.
The pros and cons of each of the six types of ISA on the market (Your Money), Rated: A
6) Innovative Finance ISA
An Innovative Finance ISA (IFISA) is a peer-to-peer lending or crowdfunding product. In some instances, you can generate returns of around 8 – 9% by lending to private borrowers or by taking stakes in ‘crowdfunded’ investments. The IFISA is also subject to the same £20,000 annual ISA allowance so you can split your money between this ISA, as well as cash and stocks and shares.
While this is regulated by the FCA, peer-to-peer lending is not covered by the FSCS meaning your capital is at risk.
Things can only get better, says Christie & Co (The Caterer), Rated: B
Easily available debt from banks, financial institutions, peer-to-peer lending and even crowdfunding, together with forecasts of revpar growth of 2.4% in London and 2.3% in the regions, will help drive investments. Strong leisure business enjoyed by hotels last year – up 20% – is expected to continue to grow, depending on a continued weak pound.
Sainsbury’s and British Land chairmen join late payments start-up (Financial Times), Rated: B
A UK start-up that is aiming to end the culture of late payment that plagues British business has recruited two FTSE 100 chairmen as investors and advisers.
David Tyler, chairman of supermarket chain J Sainsbury, and John Gildersleeve, chairman of property group British Land, have joined the advisory board of Previse.
The London-based business pays supplier invoices instantly and collects the money from customers later. By analysing years of payment data it uses artificial intelligence to calculate the likelihood it can collect from the big customer. It has pilots running with two large corporations and is in talks with dozens more, Mr Gildersleeve told the Financial Times.
Ping An OneConnect fintech subsidiary raises $ 650 million in financing (Finextra), Rated: A
OneConnect is the only one-stop FinTech-empowered solutions provider in China. Financing of the three subsidiaries received positive responses, particularly from international institutional investors, including the SoftBank Vision Fund (which invested in Ping An Good Doctor and Ping An Healthcare Technology), International Digital Group (IDG) and SBI Group etc., proving that the capital market fully recognizes Ping An’s technological innovation, the business model for its technology as well as the growth potential and business value of the Group.
Banco BNI Europe Starts to Lend on Multiple P2P Lending Platforms (P2P-Banking), Rated: AAA
Today Banco BNI Europe announced it will start lending on Fellow Finance.
‘Investing via Fellow Finance in consumer and SME loans offers us a great opportunity to easily expand our operations and we are very satisfied with the analytical and professional approach of Fellow Finance in credit intermediation’ echoes Pedro Pinto Coelho, Executive Chairman of Banco BNI Europa.
U.S. Fintech Stripe Picks Dublin for New Engineering Hub (U.S. News), Rated: AAA
U.S. payments firm Stripe said on Monday it would place its first engineering center outside its home market in the Irish capital Dublin, attracted by the city’s growing technology workforce and global outlook.
Robo Advisers Start to Take Hold in Europe (WSJ), Rated: AAA
Estimates differ, but according to TechFluence, a technology research firm with offices in Frankfurt and London, the European market had assets under management of about $3.5 billion at the end of 2017. That compares with an estimated $200 billion to $250 billion in the U.S., according to Burnmark, a fintech research firm. Estimates of the number of services range from 98 to 126 in Europe, compared with about 200 in the U.S.
The cost of entry is also much lower: generally €5,000 to €10,000 (about $6,200 to $12,400), versus hundreds of thousands at least for a discretionary service through a bank, says Timo Pfeiffer, head of research and business development at Solactive AG, an index provider that has researched the growth of robo advisers in Europe.
Popular with banks
This has led to a number of banking groups preparing robo-adviser offerings, Mr. Mellinghoff says. One example is Comdirect, a subsidiary of Commerzbank , CRZBY -3.17% which launched a robo-advisory platform in May. This service, called Cominvest, had gained assets of more than €200 million as of end of December and is expected to grow rapidly in the coming years, says Sabine Schoon, head of corporate strategy and consulting at Comdirect.
The European market has also attracted interest from major U.S. providers; BlackRock Inc. BLK -2.98% announced in June 2017 that it was taking a minority stake in Scalable Capital, a robo-adviser specialist that operates mainly in the German and British markets.
BBVA’s digital push helps drive 20% profit rise (Financial Times), Rated: A
Spanish bank BBVA’s dash to get customers to buy products digitally rather than in branches helped it report a 20 per cent rise in underlying full-year profits, with results boosted by lower costs as well as higher revenues.
Top P2P Cryptocurrency Token Etherecash Gets Listed on QRYPTOS, Following Successful Crowdsale (The Daily Telescope), Rated: A
Top P2P cryptocurrency startup Etherecash has announced that its ECH token will be listed on popular cryptocurrency exchange QRYPTOS on 6th of February 2018, following a successful crowdsale in which the company raised over 40 million USD. This news comes as The Estonian-based lending startup saw a very successful Q4 to 2017 as it gears up for its token distribution in early 2018.
Crypto-lending ICO Etherecash recorded contributions of over 40 million USD and over 46000 new registrations.
GN Compass Creating More Liquidity for its Token, GNCT (PR Web), Rated: B
GN Compass is the first peer-to- peer lending platform for Cryptocurrency-Backed Loans.
All transactions are verified and distributed on the Ethereum Blockchain. GN Compass is joining an expanding group of pioneering projects integrating the Bancor Protocol to maximize the trading liquidity of GN Compass tokens.
Mifid tips balance against active funds in favour of ETFs (Financial Times), Rated: B
New business inflows almost doubled for Europe’s exchange traded fund industry in 2017, in the run-up to the EU’s introduction of rules designed to improve market transparency and strengthen investor protection.
Net inflows into European-listed ETFs reached a record $108bn last year, up from $55.7bn in 2016, according to ETFGI, a London-based consultancy.
Disruptive innovation in equity crowdfunding (Deloitte), Rated: AAA
A 2017 report from Deloitte and the World Economic Forum, “Beyond Fintech: A pragmatic assessment of disruptive potential in financial services,” studies the disruptive forces shaping the future of equity crowdfunding.
View the infographic here.
Disruptive innovation in digital banking (Deloitte), Rated: AAA
A 2017 report from Deloitte and the World Economic Forum, “Beyond Fintech: A pragmatic assessment of disruptive potential in financial services,” examines disruptive innovation in digital banking.
View the infographic here.
IdentityMind Global Introduces KYC and Anti-Money Laundering Plug-in for ICOs (Crowdfund Insider), Rated: A
IdentityMind Global, Digital Identities You Can Trust, an SaaS platform that builds, maintains and analyzes digital identities worldwide, allowing companies to perform identity proofing, risk-based authentication, regulatory identification, and to detect and prevent identity fraud, announced the immediate availability of its KYC Plug-in for ICOs which provides a turnkey solution for customer onboarding functionality and user experience to walk ICO participants through the know your customer (KYC) process to meet regulations worldwide.
BFB partners with US real estate fintech start-up (Trade Arabia), Rate: A
Bahrain FinTech Bay (BFB) and the Fintech Consortium (FTC) have announced a strategic partnership with OffrBox, a New York City-based Fintech start-up that has developed an end-to-end real estate transaction platform on which one can buy and sell residential properties online.
How early-stage startups raise money (Times of India), Rated: A
The first ’round of funding’ Abhishek Latthe got when he was setting up his wearable device startup SenseGiz in 2013 was from his family and friends. The next year, he set up a crowdfunding page on Kickstarter and raised $47,000. Late in 2014, he took out a bank loan. It was only two years later in 2015, that he could convince Karnataka Semiconductor Venture Capital Fund to back him with Rs 3 crore.
Banks do not back companies without collateral and since the business model is unproven, other investors too hesitate. So, funding options include getting help from friends and family, crowdfunding, or dipping into one’s savings, but how do founders decide on the path to take?
Gadkari says peer-to-peer lending and bridge funding, which fulfil a company’s short-term working capital needs, have also become popular. Choosing the best funding option depends on the company’s need. The next step for an entrepreneur is to negotiate the company’s valuation.
FinTech will revolutionise lending in India, says Faircent CEO (money control), Rated: A
Lending is one of the oldest professions in the world and is one of the pivotal reasons for the banking system to take shape.
There is evidence of lending activities dating back to 2,000 BC between merchants, farmers and traders.
However, up till now, lending as an activity has been largely limited to financial institutes such as banks and Non-banking Financial Companies (NBFCs).
For instance, lenders on Faircent.com usually avail average gross returns of 18% to 26% per annum. This makes online P2P loans a lucrative alternative investment avenue for them.
What makes online P2P lending even more lucrative as an asset class for potential investors is the fact that it offers lenders the opportunity to diversify their investments across multiple risk buckets and loan requirements.
Everything you need to know as pressure mounts on cryptocurrencies (GK Men), Rated: B
Sapan Gupta a Practice-Head at Shardul Amarchand Mangaldas said, “capitalising on the blockchain technology could open new ways of securing peer-to-peer lending transactions, boosting trade finance, fintech and information repository sectors”.
After a Successful Crowdsale Campaign, Karma (KRM) Begins Trading With Blockchain (Coin Idol), Rated: AAA
Decentralized p2p lending platform Karma has just announced trading as well as access to its platform and blockchain solutions. The project has now been backed by Danish fintech startup OpenLedger. Karma’s p2p lending platform can be used on the OpenLedger DEX platform and the Korean exchange CoinLink.
Why Blockchain’s Growing Pains Could Benefit Underbanked SMBs (PYMNTS), Rated: AAA
According to a report released earlier this month by EY, 21 percent of people in the world — about 1.6 billion people — are underbanked. More than 200 million micro and SMBs fall into the underbanked category, too, with access to finance the largest hurdle for many of these firms.
EY pinpointed the APAC region as a particularly wide opportunity for financial services players to address this gap: Bank revenue in this market, researchers said, could reach $88 billion by 2020. If traditional banks don’t step in, alternative financial services firms will.
“A lot of smaller, private small businesses are under-funded,” Tran noted. “It’s not like here [in the U.S.], where we have an established financial and banking system. If you implement something like a decentralized blockchain, a P2P lending system, that would enable [SMBs] to get funded a lot easier than going through the normal banking system. With blockchain technology, you can put a platform together that is smart contract-based, allowing individual investors to participate in a growing economy. On the other hand, you allow [SMBs] to get funded very quickly.”
Top 20 Fintech Startups In The Middle East (Forbes), Rated: AAA
Online payment processing solutions
Financial products comparison site
SME focused peer2peer lending platform
Financial products comparison site
Peer-to-peer lending platform
StartAD launches on February 18 for fintech startups (Arabian Business), Rated: A
Innovation platform startAD will host a ten-day entrepreneurship programme, Venture Launchpad, at New York University Abu Dhabi (NYUAD), from February 18-27.
It will see ten fintech startups pitch their business ideas to investors. UAE-based early-stage startups are encouraged to apply by February 12, 2018, the application deadline.
The programme will equip them with the tools and knowledge to develop a scalable and capital efficient scheme. These include insights into crowdfunding, peer-to-peer lending, blockchain, algorithmic trading, credit scoring, cryptocurrency, payments, insurance tech and money transferrals.
Brazilian Fintech EBANX Secures $ 30 Million Investment From FTV Capital (Crowdfund Insider), Rated: AAA
Brazilian fintech EBANX announced on Wednesday it has secured a $30 million investment from FTV Capital.
EBANX also processes payments for major merchants from 50 different countries, including the U.S. and China. The company reported that just last year it processed $1.2 billion in cross-border transactions and achieved the milestone of helping more than 30 million users from the region gain full access to major international e-commerce merchants.