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Lemonade Logs Best Us IPO Debut of 2020, Wirecard to Resume UK Operations, M&A Activity Accelerating

Hello and welcome to your weekly digest about financial technology. If you’re returning from last wee
Issue #65  •  July 6  •  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
Lemonade Inc. snagged 2020’s strongest initial public offering debut of a U.S. company as shares of the mobile-based insurance startup became the latest to more than double on their first day of trading.

The U.K.‘s Financial Conduct Authority had forced Wirecard to halt operations on Friday after its parent company filed for insolvency in Germany.   •   Share
Michael Bloomberg started his company in 1981. He was already 39 years old. He faced large incumbents with tens of thousands of installed terminals and by global news agencies.

Let's take a look at how he cracked the code to become the dominant player in financial information
Funding, Merger & Acquisitions
Personal Capital is being bought by Empower Retirement for $825 million upfront, plus $175 million if growth goals are reached over two years.   •   Share

Despite the Wirecard fallout, German fintech startup solarisBank has raised a Series C funding round of $67.5 million. Following today’s funding round, solarisBank is now valued at $360 million.   •   Share

French investment bank Société Générale has today revealed that it has acquired challenger bank Shine, an entrepreneur-focused digital bank. Shine, which has amassed over 70,000 in just two years, offers SMEs and self-employed people a fully digital bank account.   •   Share

MICT has completed the acquisition of a wholly-owned subsidiary of Global Fintech Holdings Ltd. for approximately $25 million in convertible securities.

Something More for You to Read
Brad Michelson
Fintech experiencing mixed PPC performance during #COVID-19:

*Fintechs have seen a huge influx of new users in Q2

*Ppl are using SERP for answers to Q’s, rather than ads (SEO)

*Fintech CPCs are always $$$-- Google CVRs/CPAs are decreasing, Bing increasing.

via @WordStream
Increased online banking, new regulatory changes and Covid-19 are boosting fintech office demand across Europe. Savills European Fintech Occupier Index ranks the most attractive European cities for fintech occupiers to locate.
The brief, controversial alliance between SoftBank Group Corp. and Wirecard AG is nearing a close with the unwinding of both a marketing partnership and financial instruments behind a 900 million-euro ($1 billion) investment last year.

“Blockchain hasn’t been a game-changer. Instead, it’s essentially an infrastructure for transport and packaging. Furthermore, as in the case of digital currency-based investment classes, the problems of custody and ownership needs to be solved before blockchain can be adopted more broadly.”   •   Share

TransferWise says it has received permission from the U.K.’s Financial Conduct Authority to deal in investments. The money transfer start-up says it expects to launch its first investing feature in the next 12 months. It now has 8 million users globally and processes £4 billion worth of transactions each month.   •   Share

Merit, a new, free VC training programme launches today — and hopes to offer a scalable solution to the VC industry’s diversity problem.   •   Share
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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