US regulators relax Volcker Rule restrictions
Major US banks allowed to unlock wider range of investment options.
Investment, Asset & Fund Management
PictureWealth lands AUD 12m and seals acquisition
The company has acquired NEO Financial Solutions (NFS) for an undisclosed sum.
Privitar receives $7m investment from HSBC
HSBC is expanding its strategic relationship with Privitar.
Memo Bank launches business offering and lands €20m
The funding round was led by Paris-based BlackFin Capital Partners.
MayStreet secures $21m Series A investment
The investment will be used to accelerate MayStreet’s product development and expansion.
Pagaya raises $102m in Series D funding round
The US-Israeli wealthtech will use the investment to hire more top tier data scientists.
Deutsche Bank to create new international private bank
The new global private bank will likely hold roughly €250 billion.
M1 Finance raises $33m in Series B funding
Left Lane Capital led the new round, brining M1’s total raised to $55m.
Baltic bank Luminor signs on FA Solutions to simplify cross-border ops
Luminor has been working on centralising its IT systems.
TIS raises $20m for its B2B payment platform
TIS will use the investment from Aquiline and 83North for its global expansion.
Northern Trust to deploy BlackRock Aladdin in new partnership
Chicago-based corporate bank extends “long-standing relationship” with BlackRock.
GoBear lands $17m to accelerate transition into “full-fledged” financial service
The fintech first launched in 2015 as a metasearch engine.
San Francisco neobank Aspiration raises $135m in Series C round
The socially conscious fintech plans further growth with cash injection.
UBS to set up fintech venture fund to speed up its digitisation
The bank will make investments between $10 million and $20 million.
Remote work start-up Deel scores $14m series A led by Andreessen Horowitz
Andreessen general partner, Anish Acharya, is joining the San Francisco-based company’s board.
SoftBank’s Mayoshi Son compares himself to Jesus Christ on investor call
Son noted that Jesus was also misunderstood and criticised.
UK green investment platform Clim8 raises £1.35m
The fintech is due to launch sometime this summer.
Jack Ma resigns from SoftBank Group’s board of directors
SoftBank reported an annual operating loss of JPY 1.36 trillion ($13bn).
Smarterly secures £7m in Series A funding round
Some of the investment was used to complete the recent acquisition of Salvus.
Goldman eyes up merger with Wells Fargo, PNC & US Bancorp on its shortlist
Goldman Sachs, “weakening biz model” would “force a merger,” says Charles Gasparino at Fox Business.
What the Fintech? Episode 5 | Digital disruption: innovation in investments
CEO of the investment trading app, Evarvest, reveals the timeline of its launch in the UK.
Morgan Stanley pays $5m fine for misleading investing clients
The bank’s retail “wrap fee” programmes incurred non-transparent charges.
Vise lands $14.5m Series A led by Sequoia Capital
“This is one of the biggest markets on Earth,” says Sequoia.
Global fintech sees worst Q1 since 2016 for VC-backed deals
The quarter saw just 404 deals and ended on $6.1 billion.
UBS vies for Chinese digital bank licence
The rules are designed to ease foreign access to China’s financial market.
Swiss private bank Lombard Odier launches fintech strategy
An active portfolio of 50 well-diversified stocks will be put together.
Aussie neobank Xinja loses 2.25% interest rate
The interest rate caused it to hit AUD 100 million in deposits after just 19 days.
Kestrl to offer UK consumers ethical banking alternative
The debit card launch is expected sometime in Q3 following a June beta.
Citi’s Proxymity lands $20.5m from HSBC, JP Morgan and Deutsche Bank
The funding round will see it become its own London-based entity.
Cash deposit platform Flagstone lands £12m funding
Since 2015, Flagstone says it has facilitated £5 billion in deposits.
SoftBank warns of $9.6bn investment losses due to coronavirus
In addition to WeWork, it also blamed the losses outside of the Vision Fund on OneWeb.
RTM connects Brazil’s finance ecosystem to global markets
RTM has set up new, low latency routes to the USA, Europe, South Africa and Asia.
TransFICC lands £5.75m from AlbionVC, ING and HSBC
Existing backers inlude Citi and Commerzbank.
Investing app Stash lands $112m Series F led by LendingTree
This month Stash also surpassed $1 billion in assets and 4.5 million users.
NatWest Markets selects Dataiku for self-service analytics and machine learning
Investment banking firm seeks to improve customer experience and improve efficiency.
LenderClose secures funding from Financial Plus Credit Union
The 8-figure Series B funding round began as an exclusive opportunity for the company’s initial investors.
Noah bags $150m investment
The money came from unnamed institutional investors, including pension funds.
Glafka Capital implements Valk’s Corda-based solution
R3’s Corda platform underpins 40 other investment banks.
Looking beyond the coronavirus trading boom
Some trading apps see their future in the saving market.
All things equal
Understanding where the industry stands at present in terms of the gender gap is essential to trying to address it.
