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This week in fintech, the largest funding round tracked was Udaan's USD 225 million. There is also some interesting research on anti-money laundering and digital identity. Have a great weekend!
This Week in Fintech
Munich Re buys relayr in deal worth USD 300 million
The German reinsurance company purchased the IoT provider. Insurance companies have significant strategic interest in IoT, as it can be used to monitor equipment performance, and even predict and avoid costly malfunctions. Read more
IBM launches payments system, Blockchain World Wire
IBM has taken the system out of beta with the launch, claiming it can simultaneously clear and settle cross-border payments in near real-time. The move puts the tech company in direct competition with Ripple, which offers similar products. Read more
Indonesian stock exchange to launch tech platform
The platform will host initial public offerings from start-ups. In creating the platform, the exchange hopes to list Go-jek, a start-up specialising in digital payments, and is the country’s first unicorn start-up. Read more
India Post Bank brings financial services to citizens’ doorsteps
Certain post personnel will be equipped with smartphones and biometric devices, accepting deposits, providing remittance services, and handling mobile payments, transfers, and purchases, amongst other services. No loans will be offered. Read more
Varo Money gets preliminary approval for US national bank charter
The fintech start-up recently won the approval, which paves the way for it becoming the first fully-licensed mobile-only bank in the US. Read more
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Funding News
Udaan, an India-based B2B e-commerce company, raised USD 225 million from DST Global and Lightspeed Global Growth.
Portal Finance, a Columbia-based fintech, raised USD 200 million from BTG Pactual.
LendInvest, a UK-based online lender for property, secured GBP 150 million from Nomura and Magnetar.
LianLian Group, the China-based parent company of PSP LianLian Pay, secured USD 146 million from Sequoia Capital and Boyu Capital.
Monese, a UK and Estonia-based provider of a banking app, raised USD 60 million in a Series B round led by Kinnevik.
SynapseFI, a US-based start-up providing APIs for fintech, secured USD 17 million in a Series A round led by Trinity Ventures and Core Innovation Capital.
Report your funding round
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Research
On the Threshold of a Digital Identity Revolution
by World Economic Forum
This whitepaper explores the challenges with current identity systems and the trends that will have significant impact on identity in the future. Read more
Report on Trends, Risks and Vulnerabilities
by ESMA
This report lays down the trends, risks and vunerabilities within EU financial markets, also considering the impact of political developments such as Brexit and political tensions at the international level. Read more
Anti-money laundering and counter-terrorist financing measures, Kingdom of Bahrain
by Financial Action Task Force
This report investigates AML/CFT measures in place in the Kingdom of Bahrain, the level of effectiveness of Bahrain's AML/CFT system, and provides recommendations for a more efficient system. Read more
How Technology Disrupts Private Law: An Exploratory Study of California and Switzerland as Innovative Jurisdictions
by Stanford Law School and the University of Vienna School of Law
This paper presents original research on technology-related and business-related law and policy issues in the EU and the US. Read more
The 2018 Insurance Value Creation Report
by The Boston Consulting Group
This report analyses some of the so-called bold strategies that are paying off in insurance industries on a global scale, and are also applauded by investors. The report dedicates a specific section to companies creating value via fintech solutions. Read More
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