Apple says it will overtake Samsung Pay by year’s end
Apple has indicated it plans to launch Apple Pay in a number of new territories before the start of 2018, a feat that would see it catch up to and overtake current digital wallet frontrunner Samsung. Speaking at the company’s earnings call yesterday, Apple CFO Luca Maestri says that “the reach, usage, and functionality of Apple Pay continued to grow.” He claims that “Apple Pay is by far the number one NFC payment service on mobile devices, with nearly 90 percent of all transactions globally. Momentum is strongest in international markets, where the infrastructure for mobile payments has developed faster than in the US.” “In fact, three out of four […]
Two of Britain’s fastest growing fintechs are going after a huge pot of money: pensions
Fast-growing online investment startups Moneyfarm and Scalable Capital are both planning to launch pension products later this year, hoping that accessing the huge UK retirement market could super-charge their growth. Moneyfarm announced plans to launch a pension product later this year when it announced its full year results on Friday. Those results show that the startup, which launched in Italy in 2012 and the UK last year, currently has £260 million in assets under management. It offers personal investment and ISA products. Paolo Galvani, Moneyfarm’s cofounder and chairman, told Business Insider: “We will launch a UK pension product in the fourth quarter and next year Italy. For the next few […]
Fintech Kantox raises £4.6 million from investors as it targets profitability
Foreign exchange fintech company Kantox has raised £4.6 million from its existing investors as it aims for profitability. Filings with Companies House show Kantox raised the sum at the end of July. CEO and founder Philippe Gelis confirmed the fundraise with Business Insider over email, saying the company raised the money from existing investors Partech Ventures, IDinvest Partners, and Mundi Ventures. Gelis told Business Insider: “We indeed raised some more money with our existing investors. We are progressing well and focusing on building sophisticated software solutions for our clients. “We have great traction so we did not want to look for new investors (something which is always very time consuming) […]
Oxford University is getting into fintech
Oxford University is branching out into fintech prepare business executives for a future where more financial services functions are based around tech.
Fintech funding on the rebound as Irish start-ups play part
Global fintech investment more than doubled from the first to the second quarter on the back of a sharp rise in European funding deals. Ireland played its part, recording fintech investments of more than $230 million (€194 million) in the three-month period, led by Plynk which raised €25 million in a Series A round from Swiss Privée in June. Total global funding to fintech firms rose to $8.4 billion (€7.1 billion) from $3.6 billion (€3 billion) with European fintech investment jumping to over $2 billion (€1.7 billion). This is well below the peak investment high of $5.8 billion (€4.9 billion) seen in the fourth quarter of 2015, but up on […]
Search for 2017 Fintech 100 innovators kicks off
Nominations are now open for the 2017 KPMG & H2 Ventures Fintech 100, the annual list designed to recognize leading fintech innovators. Visit www.fintechinnovators.com by Thursday, 31 August 2017 and nominate your company, or any fintech you think should be considered for the Fintech 100. The Fintech100, available at www.fintechinnovators.com, is compiled by fintech investment firm, H2 Ventures in collaboration with KPMG’s Global Fintech practice. The annual Fintech 100 includes both the leading 50 established fintechs, and the most intriguing 50 “emerging stars.” How to nominate and the judging process: Nominations for the Fintech 100 can be made at www.fintechinnovators.com website by Thursday, 31 August 2017. […]
Global VC fintech investment attracts $6.5 Billion in H1 2017
Global VC investment for FinTech in H1 2017 attracted $6.5 billion of VC investment with 787 deals, a 45% decrease year on year, according to statistics compiled through Pitchbook by Innovate Finance, the not-for-profit membership association for global FinTech. While total global investment dropped, UK VC investment for FinTech firms increased by 37% to $564 million, despite Brexit and the future uncertainty between European markets and the UK’s financial services sector. Both Q1 17 and Q2 17 were higher than Q1 16 and Q2 16 by 45% and 22% respectively. The US attracted the most investment both in deal value, which topped $3.3 billion, and deal volume, with 357 investments […]
Investment in UK Fintech tops pre-Brexit levels in First Half of 2017
Over half a billion dollars were poured into British financial technology companies in the first half of 2017, over a third more than the same period last year, trade body Innovate Finance said on Wednesday, in the latest sign the fast-growing sector is so far weathering Brexit. UK-based fintech startups pulled in $564 million of venture capital investment in the first six months of the year, more than half of which came from outside Britain. That was up 37 percent from the first half of 2016, and put Britain in third place globally for fintech investment, behind the United States and China. Some had worried that Britain’s vote last June […]
