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All The Fintech - Sept 17th, 2017

Happy Sunday and welcome to the first news digest of All The Fintech :). For those of you that don't
September 17 · Issue #1 · View online
All The Fintech
Happy Sunday and welcome to the first news digest of All The Fintech :).
For those of you that don’t know me, I currently work at Plaid where a large part of my job is keeping up to date with all the various developments that occur across financial technology (or fintech for short). I have a pretty broad interpretation of what falls under fintech, but in general I like to broadly define fintech as technology that’s used and applied in the financial services industry. Whether that technology is leveraged internally at a large financial institution, or utilized to compete with existing financial institutions, I consider it all to be relevant!
For now, this newsletter will be a somewhat curated selection of articles, viewpoints, and news snippets that I believe offer a pulse on what’s happening in fintechland week by week. I’m going to aim for once a week, but welcome any and all feedback (and article/website recommendations) as I start out here. I’ll try and add my own commentary here and there and as always, caveat that this is mostly dominated by what I find come across and think is interesting. Without further ado…

Top news 💯 -
SoFi's CEO Steps Down as Sexual Harassment Claims Damage Morale
All the Fintech 📆 -
Cryptocurrency 🤑 - I spent the week reading a bunch of articles on crypto so this week’s newsletter is a bit crypto heavy…I’m also including “blockchain” stories in this section whatever that means.
China's Bitcoin Exchanges Receive Shutdown Orders and Closure Timeline
Kik could pave the way for more mainstream tech company ICOs
Jamie Dimon Slams Bitcoin as a ‘Fraud’
The Pirate Bay Website Runs a Cryptocurrency Miner
Is There a Cryptocurrency Bubble? Just Ask Doge.
Bitcoin in the Browser: Google, Apple and More Adopting Crypto-Compatible API
Lending - What’s a good emoji for lending? Thoughts greatly appreciated. As expected, Equifax breach + SoFi is extremely top of mind still, but looks like GS is (slowly?) making moves as more digital lenders falter (see exits section).
SPUZ : Equifax Breached
Goldman Sachs (GS) thinks its fintech lending arm Marcus can make as much extra revenue as trading
Equifax Hack Could Slow Down Fast Loans
Goldman Sachs buys $300m of non-bank loans - AltFi Credit
CFPB Issues No-Action Letter To Upstart Network
Payments 💳 - Google launching payments with P2P Clinkle in India and Venmo launching new features.
Google's UPI-based Tez payments app for India is here
Venmo is offering users an (ugly) physical debit card
Wealth Management 💲- I promise I’ll add a couple more next week too…
Goldman and BlackRock portfolios available on Betterment - Business Insider
Fundraising 💵
RealtyShares, a San Francisco based online marketing for real estate investing, raises $28MM Series C led by Cross Creek Advisors with participation from existing investors including Union Square Ventures, General Catalyst Partners, and Menlo Ventures  (link)
Braavo Capital, a New York based integrated financing platform for mobile app businesses, raises $70MM in debt and equity led by Mark 2 Capital (link)
Vemo Education, a Vienna, Va.-based provider of income share agreement solutions for postsecondary education institutions, has raised $7.4 million in seed funding. University Ventures and NextGen Venture Partners co-led the round, and were joined by Route 66 Ventures, Third Kind Venture Capital, Haystack Partners and Task Force X Capital. (company link)
Lenda, a San Francisco-based mortgage origination and refinancing platform, has raised $5.25 million in Series A funding. SF Capital Group led the round, and was joined by CreditEase Fintech Investment Fund and return backer Rubicon Venture Capital. (company link)
TNG Fintech, a Hong Kong based digital wallet platform, raises $115MM Series A led by NewMargin at US$565MM post-money valuation (link)
CashShield, a Singapore based payment fraud risk management platform, raises $5.5MM led by GGV Capital and joined by Nest co-founder Tony Fadell (link)
Red Doy Payment, a Singapore based payment gateway, raises $5.2MM Series B from GMO Venture Partners, Wavemaker Partners, Skype co-founder Toivo Annus, and MDI Ventures. (link)
Product Launches 🚀
New Credit Card Option for Those With Scant Credit Histories - The New York Times
Exits 💸
Goldman Nabs Fintech Group in Push to Boost Online Lending - WSJ
ZhongAn Online Sets Terms for Up to $1.5 Billion IPO - Bloomberg
Random 🔖
Linear Thinking in a Nonlinear World
With $600 Million ‘Blank Check’ IPO, VCs Experiment on Startup Listings
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