F|T: The FinTech Times – A new unicorn is born

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Welcome to the FinTech Times, a weekly newsletter covering the biggest FinTech news from around the globe. If you want to read F|T before anyone else, make sure to subscribe using the form at the bottom of this page.

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#FinTechCA argues AI will prevent financial crime on crypto platforms (BETAKIT)

AI’s ability to perform advanced pattern recognition can spot if certain transactions seem suspicious.

Zafin Recommends: How Banks Are Using Strategic Pricing to Empower their Customers (PROVE)

“Big banks have two problems. First, they’re having to pay customers more as they catch on to the rising rates. Second, they’re battling digital banks that are able to offer competitive interest rates due to their low overhead. How can a big bank compete and profit in this environment?”

Upgrade, the newest lending startup of Lending Club founder Renaud Laplanche, has raised $62 million in Series C funding (TECHCRUNCH)

The funding was led by CreditEase Fintech Investment Fund.

Coinsquare set to expand to Europe in Q4 2018(BETAKIT)

Coinsquare customers will receive access to the company’s suite of cryptocurrencies.

Visa makes Series C strategic investment in Japanese FinTech Paidy

The financing from Visa will add to Paidy’s $55 million Series C round announced in July, led by Itochu Corporation, a Japanese conglomerate with participation from Goldman Sachs.

A new unicorn is born: Root Insurance raises $100 million for a $1 billion valuation (TECHCRUNCH)

The Series D round was led by Tiger Global Management, pushing the company’s valuation to $1 billion. Redpoint Ventures, Ribbit Capital and Scale Venture Partners all participated as follow-on investors in the round.

Netflix tries bypassing Apple’s App Store for payments (ENGADGET)

New and lapsed customers are being redirected to the Netflix website.

Overstock blockchain spin-off raises $134 million – with millions more committed(COIN DESK)

TZero, an alternative trading system for securities issued on a blockchain, has raised $134 million in its security token offering.

PayPal revamps its app to remove clutter, add more personalization(TECHCRUNCH)

The PayPal homescreen had gotten a little too busy with all the extra features it has been promoting, which aren’t central to the PayPal experience.

Equity Bank spins off digital arm as standalone FinTech startup

Equity Group Holdings, Kenya’s second-largest bank, is spinning off its tech subsidiary into a commercial entity, dubbed Finserve.

Lolli launches to give you free Bitcoin while you shop (TECHCRUNCH)

Lolli is a rewards platform that offers users BTC when they shop at participating online retailers.

Former Ethereum Foundation advisor William Mougayar joins Kin Foundation’s board of directors (BETAKIT)

Mougayar will advise the foundation on the ecosystem including development of the Kin Rewards Engine, membership, and security.

Deutsche Bank ventures into non-bank payment platforms with Modo stake

“Our investment and partnership with Modo will help us to provide our corporate and institutional clients with new digital payment functionalities and accordingly more flexibility in facilitating these transactions,” said John Gibbons, Deutsche’s head of global transaction banking.

Hex Capital launches $10 million crypto assets fund (BETAKIT)

In the past, Hex has invested in CryptoKitties, which recently raised $12 million from Andreessen Horowitz and Union Square Ventures.


Amira Zubairi

Amira Zubairi is a staff writer and content creator at BetaKit with a strong interest in Canadian startup, business, and legal tech news. In her free time, Amira indulges in baking desserts, working out, and watching legal shows.

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