Google Ventures Conducts First FinTech Investment
Currencycloud, a London fintech world leader in cross-border payments, announced that it has raised £20 million ($25 million) from Google’s venture capital arm, GV, according to a company statement. GV, the venture capital arm of Alphabet, Inc. and formerly known as Google Ventures, joins other investors to the five-year-old startup for the series D round, including Notion Capital, Sapphire Ventures, Rakuten FinTech Fund and Anthemis. This high-profile investment gives the sector a much-needed boost following fears post-Brexit and pushes funding for the company to £44 million ($61....
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Investment in Chinese FinTech continued at a pace in 2016 despite markets in other countries experiencing a slowdown in the sector. It’s reported that during the first nine months of 2016, FinTech investments doubled in China, which was partly due to funding rounds completed by Ant Financial, JD Finance and China’s Lufax, reports the China Money Network. The report states that in the first three-quarters of 2016, global financial technology investments accounted for US$18 billion, just down from the US$19 billion that was invested in the previous year. According to a report by City Asia....