Without further ado, here’s my latest fintech roundup.
Lufax’ US IPO
Lufax was founded in 2011 and initially focused on peer-to-peer lending. Over time the company has diversified, now also working with funds, insurance companies and financial license holders, becoming a large internet finance company in China. It is backed by Ping An Group.
The Shanghai-based firm is now seeking a $2.36 billion IPO on the New York Stock Exchange. Yes, despite the current Sino-American “trade war”, the US is still an attractive place to go public for Chinese companies.
Lunar closes Series C round
Founded in 2015, Lunar is a Denmark-based neo-bank that offers a wide range of B2C and small business products. It has approximately 205,000 users across Scandinavia (97.5% …
Here we go again. Another week, another fintech roundup.
Ant Group will go with dual listing IPO according to sources
On Monday, Reuters reported that Ant Group (which owns China’s largest digital payment platform Alipay) will kick start its upcoming IPO in both Hong Kong and on Shanghai’s STAR Market.
It’s important to note that the information is not yet public; but has been confirmed by credible sources.
This should reassure potential investors waiting for the gigantic listing (which coud well break records).
A quarter of personal finance managers in the UK and the Netherlands do not use open banking
A recent report from open banking provider Yolt Technology Services (YTS) revealed that about a quarter of personal finance management (PFM) software in the UK and the Netherlands still utilize manual entry from users to access their accounts or spending data (think screen scraping) rather than modern open banking frameworks. …
This is a quick (non-exhaustive) fintech news round-up for the past week.
Stripe agrees to buy Nigeria-based Paystack
The omnipotent San Francisco Bay Area-based Fintech platform Stripe has agreed to buy Nigeria’s Paystack for a reported US $200 million.
Similar to Stripe, Paystack offers payments service through API technologies. It has currently 60,000+ customers. This could be a tremendous opportunity for the American company to gain a foothold on the African continent.
My frequent collaborator Michael Spencer delved deeper into this development in a recent blog post.
Wealthsimple raises another CAD $114M
Wealthsimple, a well-known Toronto-based fintech startup specialized in digital investing and stock trading secured another CAD $114 million (roughly US $86 million) in funding. …
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