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All The Fintech - Sept 25th, 2017

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Happy Monday everyone and welcome to my second issue to all the new subscribers (which in this case,
 
September 25 · Issue #2 · View online
All The Fintech
Happy Monday everyone and welcome to my second issue to all the new subscribers (which in this case, is pretty much everyone other than my significant other)! As a general reminder, I’m still working on tweaking the format and content of my newsletter so any and all feedback is super helpful, give me a tweet
Currently, I’ve structured it over a few main topics : Top News (IMO), Crypto, Lending, Payments, Wealth Management, Insurance, and Fundraising. My goal is to have a few of the most relevant and interesting articles across each section, but I also have my own biases on sources I read. If anyone has any great recommendations on other go to newsletters or sources, please tweet them over to me (particularly insurance). This week’s newsletter is also a bit fundraising heavy (at least, compared to last week, but maybe this is normal?).
In the future, I’m planning on using this section to pontificate on things I come across working with all the fintechs. This week, I was planning on writing a quick post on Venmo’s (newish) debit card that I got recently, but I got a bit carried away with editing some photos tonight, so instead I’ll save that for next week and leave you with my favorite photo I took in Japan earlier this year. 

Top news IMO💯
Lending startup Prosper has lost more than 70 percent of its value - Recode
CFPB Says in Memo It Could Have Pursued $10 Billion Penalty Vs. Wells Fargo - WSJ
For weeks, Equifax customer service has been directing victims to a fake phishing site - The Verge
Cryptocurrency 🤑
A relatively stable week for crypto this week it seems. 
The Blockchain Is the Internet of Money - WSJ
In China’s Hinterlands, Workers Mine Bitcoin for a Digital Fortune - The New York Times
Safeguarding against phone porting – The Coinbase Blog
Lending 🤝
SoFi still reeling and Activehours raising. I wonder what effect SoFi’s lawsuits and press will have on the business itself, especially if branding is increasingly more important in lending…
Scandal costs Sofi chance to become a bank, says ex-SEC head - Financial Times (paywalled)
SoFi Condoned ‘Rampant Sexual Activity,’ Lawsuit Alleges - Bloomberg
Activehours raises $39 million for its new take on cash advances - TechCrunch
Payments 💳
Does FinTech mean Finance Companies < Tech Companies, or Finance = Tech Companies, or Finance + Tech Companies = :D. Banks seems to think Square might the first, while JPMorgan seems to be taking the later approach with Bill.com. (Not my best, I know).
The story behind Square’s bank charter application - American Banker
Ant Financial to try again for U.S. approval of MoneyGram deal - Reuters
Apple Pay Cash Coming in Future Update to iOS 11 and watchOS 4 - Mac Rumors
JPMorgan Seeks to Banish Paper Payments With a Fintech Venture - Bloomberg
Wealth Management 💰
Moar data please and Ellevest (closes?) their Series A technically.
Selling data to feed hedge fund computers is one of the hottest areas of finance right now - Quartz
Ellevest is using its new funding round to add human advisors
Insurance 🔒
Looking for more recommendations on good sources to read! My knowledge of insurance is pretty rudimentary…
Zebra Online Insurance Agency Gets $40M from Investors and New CEO from Kayak
Fundraising 💵
Ellevest, a New York-based digital investment platform focused on women, raised $34.6 million in funding. Rethink Impact led the round, and was joined by investors including PSP Growth, Salesforce Ventures, CreditEase Fintech Investment Fund, LH Holdings and SK Impact Fund, LLC. Existing investors Morningstar, Khosla Ventures, Mellody Hobson, Ulu Ventures, Contour Venture Partners, and Astia Angels participated. (link)
Raise, a gift card marketplace, raises $60M Series C led by Accel with participation from PayPal and others; the firm provides a platform for users to buy and sell unwanted gift cards; raised more than $147M to date (link)
London-based fintech startup GoCardless (YC S11) raises $22.5M Series D led by Accel with participation from Balderton Capital and others; the firm provides enterprise tools for recurring bank-to-bank transfers (aka direct debits); raised $47.3M to date (link)
YayPay, a San Francisco-based provider of corporate finance workflow optimization solutions, has raised $5.3 million in VC funding from QED Investors, Birchmere, Fifth Third Capital, 500 Fintech Fund, Aspect Ventures, Gaingels, Techstars and Zelkova. (link)
AlphaFlow, a San Francisco-based automated alternative investment platform for real estate, raised $4.1 million in seed funding. Resolute Ventures and Point72 Ventures led the round, and were joined by investors including Upside Partnership, Social Capital, Y Combinator, Clocktower Technology Ventures, and Red Swan Ventures. (link)
The Zebra, an Austin, Texas-based auto insurance comparison marketplace, raised $40 million in Series B funding. Accel Partners led the round. (link)
EquitySim, a San Francisco-based platform for financial services hiring, has raised $3.1 million in Series A funding. University Ventures led the round, and was joined by Peak Ventures and 500 FinTech. (link)
Tuition.io, a Santa Monica, Calif.-based employer-funded student loan repayment assistance platform, has raised $7 million in Series B funding. Wildcat Venture Partners led the round, and was joined by return backers Mohr Davidow Ventures and MassMutual Ventures. (link)
Clearcover, a 1.5-year-old, Chicago-based car insurance startup, has raised $11.5 million in new funding led by Lightbank, with participation from Greycroft Partners, 500 Startups, and Silicon Valley Bank. (link)
ComparaOnline, a Chile-based insurance and financial products comparisons developer, raised $14 million in funding, according to TechCrunch. Investors include Bamboo Capital Partners and the International Finance Corp (link)
France-based peer-to-peer lending platform Younited Credit raises $47.8M Series F from Eurazeo, Crédit Mutuel Arkéa, and others; the service currently operates in France, Spain and Italy, and lets users arrange loans between $1.2k and $48k; raised more than $122M to date. (link)
HighRadius Corp, a Houston, Texas-based financial supply chain management software, raised $50 million in funding from Susquehanna Growth Equity (link)
Luno, a London-based Bitcoin platform, raised $9 million in Series B funding. Balderton Capital led the round, and was joined by investors including AlphaCode and Digital Currency Group. (link)
Power2SME, an online marketplace for small and medium enterprises engaged in manufacturing, has secured Series E funding of $36 million from existing investors Inventus Capital Partners, Accel, Kalaari Capital and Nandan Nilekani, with participation from its latest investor International Finance Corporation (IFC), the investing arm of the World Bank Group. (link) 
Product Launches 🚀
Loftium: A Down Payment With a Catch - You Must Be an Airbnb Host
IPOs & Exits 💸
China online insurer ZhongAn prices HK IPO at top end, raises $1.5 billion: IFR
Random 🔖
Sears's History Predicts Almost Everything Amazon's Doing - The Atlantic
How to make a logo, for free, in about 5 minutes.
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