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Fintech Trust Gap, ConsenSys Acquires Quorum, Ant Group's IPO

Hello and welcome to your weekly digest about financial technology. If you’re returning from last wee
Issue #70  •  August 31  •  View online  •  Suggest a link
Sharing with you relevant and exciting utilization of a number of innovative technologies, be it disruptive or sustaining to the existing financial services industry.
Hello and welcome to your weekly digest about financial technology. If you’re returning from last week, thanks! If you’re new, it’s very nice to have you! Share the love and tell your fellow fintech enthusiast friends to sign up here.
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This Week in Fintech
Consumer apps and insurtechs have dominated fintech investment in recent months   •   Share

The U.S. Securities and Exchange Commission (SEC) on Wednesday adopted changes to its decades-old definition of a professional investor in order to allow more everyday Americans to buy shares in private companies, and eased come company disclosure rules.

People still don’t fully trust consumer fintech, research shows. Has the pandemic created a new opportunity or fuelled further distrust?   •   Share

Funding, Merger & Acquisitions
Brooklyn-based technology startup ConsenSys has acquired JPMorgan Chase & Co’s marquee blockchain platform Quorum, the companies said on Tuesday.   •   Share

Chinese billionaire Jack Ma could be about to pull off a record-breaking IPO for the second time.

Meet Fondeadora, a fintech startup based in Mexico City that wants to build a full-stack neobank. The company just raised a $14 million Series A round led by Gradient Ventures, Google’s AI-focused venture fund. Founded in 2018, the company already manages 150,000 accounts and is adding $20 million in deposits every month.   •   Share

Swiss fintech i2invest has announced closing a seed investment round of approximately €1.2 million. The funds will be used to further develop the startup’s software, expand their team and boost two new projects.

Something More for You to Read
A look inside Monzo, Starling and Revolut’s recently reported, albeit dated results.   •   Share

Embedded finance will grow to nearly $230 billion (in revenue) by 2025. At a five times revenue multiple, embedded finance will create more than $1 trillion of value by 2025.   •   Share

Klarna is mostly known for its “buy now, pay later” scheme that offers shoppers interest-free financing over a period of installments.   •   Share

A technology team from Wirecard , the German payments company that collapsed in June, is joining a new digital innovation unit being set up by Berlin financial technology group finleap.
Techstars Startup Digest Fintech is curated by:
Alessandro Ravanetti Alessandro Ravanetti - Freelance content writer and copywriter. Working in the fintech industry since 2011, I built and managed digital companies with distributed teams and international partners, gaining experience with both startups and large corporations. I am an independent expert with the European Commission, FundingBox and the Eureka Network, and an advisory board member of SXSW.
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