It seems to be all about payments, payments, payments. Investment in fintech is reaching such heights that some have raised concerns that it's creating a bubble fit to burst. In fact, in the first quarter of 2016, global investment in fintech reached 5.3bn – a 67pc increase year-on-year. Funding to payments start-ups, in particular, has been prolific, with 2015 marked out as a record year, totting up over 3.3bn in funding across 293 deals. All manner of payments technology appears to be attracting investors, be it bitcoin-based, m-commerce, billing, money transfer or point-of-sale solutions.
Fintech (financial technology) has arguably become the poster child for the UK technology sector over the last couple of years but the spectacular collapse of Powa Technologies did nothing for the sector's reputation. When asked whether Powa cast a shadow on the UK's thriving fintech industry, Tom Hulme, a partner at Google Ventures in London, said: "It would break my heart if Powa Technologies corrupted the fintech marketplace." Powa raised at least 175 million ( 122 million) but it had only 250,000 ( 175,200) in the bank at the start of February and debts of 16.4 million ( 11.5 million). Here's how it spent all of its investor's money. Hulme was quick to add that Powa was not the type of company that Google Ventures would look at.
The move is unfortunate if you like to give artists and inventors a helping hand, but it's not all that shocking in light of crowdfunding's riskiness. Kickstarter notes that about 9 percent of its projects never deliver -- even though PayPal only handles some of those transactions, that's a lot of potential refunds. We've asked PayPal for its official reasoning, but it might simply be a matter of wanting to keep costs down.
Machine Learning is the new buzz word and AI is the slang word these days. What does happen in this exiting field in Europe? Is AI common ground for all businesses or the exclusive territory for a few? Who has managed to validate a business model for autonomous vehicles or chatbots?Whatdoesdata-drivenor API-firstbusinessmodelslook like? With this report we want to provide a comprehensive review of investment in startups and high-growth AI and Data Analytics companies across 22 countries in Europe.
Brazilian company Avante acquired Israeli fintech startup Sling in an undisclosed deal while eBay announced that it will be acquiring predictive analytics startup SalesPredict. Brazilian micro-credit giant Avante announced on Monday that it has acquired Israeli startup Sling, a company that enables a micro-entrepreneurs to access a slew of financial services directly from their smartphones. Details of the acquisition have not been disclosed but its valued at 10 million. Sling allows micro-business from street vendors and therapists to the self-employed, to unlock a series of financial services without the need for hardware, complicated contracts or an upfront costs. In addition, Sling merchant have access to digital card payments, frictionless installments, clearance and micro-fleet management capabilities.