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Federal Court approves NAB-86 400 deal

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The major bank has announced that it will proceed with the acquisition of 86 400 after receiving court approval, with implementation expected next week.

National Australia Bank (NAB) has announced that the Federal Court of Australia has made orders approving the scheme of arrangement for NAB to acquire the remaining share capital of 86 400 Holdings Ltd, the holding company of digital bank 86 400.

In January this year, NAB announced its intentions to acquire 100 per cent of the two-year-old 86 400 for $220 million, with plans to merge the neobank with its own digital subsidiary UBank.

The major bank said at the time of the announcement that the 86 400 brand will be subsumed into the group, while it is anticipated that the merged entity would see UBank expand its reach into the third-party channel for the first time.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://australianfintech.com.au/federal-court-approves-nab-86-400-deal/

Crowdfunding

French Fintech Pennylane, which Provides Bookkeeping Solutions, Secures Investment from Sequoia Capital

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French Fintech firm Pennylane has acquired €15 million in capital in order to expand its bookkeeping and financial management services.

The Pennylane platform has been designed to allow SME owners to view all of their real-time financial data from a single dashboard.

Established in 2020, Pennylane has been able to generate $2.4 million in revenue. The company’s management has also hired around 30 accountants and 15 application developers. The Fintech firm currently supports over 1000 SME clients on a daily basis.

The investment round notably marks the very first investment by Sequoia Capital in France. it has come after the firm finalized a $18.4 million round in January of this year.

Luciana Lixandru, Partner at Sequoia Capital, stated:

“We have met a lot of companies in the fintech sector in Europe. We are delighted to make Pennylane our first investment in France and to rely on this exceptional team so that all start-ups, VSEs and SMEs, can improve their collaboration with their accountant.”

Sequoia Capital has been quite active in the Fintech sector this year.

As covered in April 2021, Indian Fintech Razorpay secured $160 million in funding from GIC, Sequoia Capital, Ribbit Capital, Matrix Partners, among others.

In February 2021, event outcome trading platform Kalshi acquired $30 million in capital via a Series A investment round led by Sequoia.

As noted by its management:

“Sequoia helps daring founders build legendary companies from idea to IPO and beyond. We spur founders to push the boundaries of what’s possible. In partnering with Sequoia, companies benefit from 48 years of tribal knowledge from working with founders like Steve Jobs, Larry Ellison, Larry Page, Jan Koum, Brian Chesky, Drew Houston, Adi Tatarko, Julia Hartz and Jack Dorsey.”

Sequoia-backed companies account for over 25% of NASDAQ’s total value, the company reports. From the beginning, the “vast majority” of money the firm invests has been “on behalf of non-profits and schools like the Ford Foundation, Mayo Clinic, and MIT, which means founders’ accomplishments make a meaningful difference.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/06/176635-french-fintech-pennylane-which-provides-bookkeeping-solutions-secures-investment-from-sequoia-capital/

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Crowdfunding

French Fintech Pennylane, which Provides Bookkeeping Solutions, Secures Investment from Sequoia Capital

Published

on

French Fintech firm Pennylane has acquired €15 million in capital in order to expand its bookkeeping and financial management services.

The Pennylane platform has been designed to allow SME owners to view all of their real-time financial data from a single dashboard.

Established in 2020, Pennylane has been able to generate $2.4 million in revenue. The company’s management has also hired around 30 accountants and 15 application developers. The Fintech firm currently supports over 1000 SME clients on a daily basis.

The investment round notably marks the very first investment by Sequoia Capital in France. it has come after the firm finalized a $18.4 million round in January of this year.

Luciana Lixandru, Partner at Sequoia Capital, stated:

“We have met a lot of companies in the fintech sector in Europe. We are delighted to make Pennylane our first investment in France and to rely on this exceptional team so that all start-ups, VSEs and SMEs, can improve their collaboration with their accountant.”

Sequoia Capital has been quite active in the Fintech sector this year.

As covered in April 2021, Indian Fintech Razorpay secured $160 million in funding from GIC, Sequoia Capital, Ribbit Capital, Matrix Partners, among others.

In February 2021, event outcome trading platform Kalshi acquired $30 million in capital via a Series A investment round led by Sequoia.

As noted by its management:

“Sequoia helps daring founders build legendary companies from idea to IPO and beyond. We spur founders to push the boundaries of what’s possible. In partnering with Sequoia, companies benefit from 48 years of tribal knowledge from working with founders like Steve Jobs, Larry Ellison, Larry Page, Jan Koum, Brian Chesky, Drew Houston, Adi Tatarko, Julia Hartz and Jack Dorsey.”

Sequoia-backed companies account for over 25% of NASDAQ’s total value, the company reports. From the beginning, the “vast majority” of money the firm invests has been “on behalf of non-profits and schools like the Ford Foundation, Mayo Clinic, and MIT, which means founders’ accomplishments make a meaningful difference.”

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.crowdfundinsider.com/2021/06/176635-french-fintech-pennylane-which-provides-bookkeeping-solutions-secures-investment-from-sequoia-capital/

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Fintech

Nukkleus Expands Multi-Asset Offering Through Match Financial Acquisition

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Nukkleus

Jersey City, NJ, June 11, 2021, Nukkleus, Inc. (NUKK), a leading software and technology solutions firm, announced the recent acquisition of Match Financial Limited. The acquisition was completed on 28 May, 2021. Match Financial is a financial services firm that wholly owns Digital RFQ Limited, an FCA registered EMD agent enabling frictionless and efficient conversion of FIAT to crypto through multiple banking facilities allowing for global same day settlement.

Match Financial will be absorbed into Nukkleus as the company looks to scale its operations and increase its service offerings in direct response to client demand. Through the acquisition, Nukkleus will be able to offer a full-service digital asset platform with unique access to deep liquidity and a comprehensive suite of crypto products and services.

Nukkleus and Match Financial are primarily focussed on advanced multi-asset trading technology, institutional digital asset execution, crypto-backed product investment management and global payment services.

With the belief that multi-asset investment strategies must include digital assets, Emil Assentato, CEO of Nukkleus said: “As digital assets continue to be widely adopted, we believe that the best guarantee of acceptance and longevity will be transparency, governance and oversight. This is what Match Financial provides Nukkleus, underpinned by performance, security, integrity and the right partnerships”.

Jamie Khurshid, the Founder and Managing Director of Match Financial, spoke on the vision to de-risk investing through regulated products and regulated firms: “Digital Assets are especially exciting as they are a technology that has the opportunity to be massively beneficial in everyday lives. As an industry, we are at the early stage of fully appreciating the impact and benefits, but we have run into a number of fairly predictable issues that are preventing mainstream adoption. In creating Match Financial, we have specifically gone out to address these issues in a structured way to enable crypto to become a legitimate part of an investment portfolio for the long term.”

Nukkleus and Match Financial share a vision of healthy, customizable approaches to digital asset investment.

Providing stability and legitimacy to volatile assets

Over the last year, cryptocurrencies have seen tremendous growth. As they enter a new period of price discovery, investors are presented with huge opportunities to enter the crypto market at a crucial time. However, as with all opportunity, comes risk and managing a risk-reward investment strategy is a delicate balance.

This is the challenge that led to the addition of Match Financial’s capabilities into the Nukkleus suite. Now Nukkleus can combine its best-in-class technology with Match Financial’s superior institutional crypto advisory, over-the-counter brokerage, and exchange execution services. Nukkleus will be able to extend its full service offering and compete effectively in the multi-asset space. Investors seeking customized crypto investment approaches now have a one-stop-shop that matches their understanding of technology, the markets and available investment products with their associated risk.

If the last year and a half have shown us anything, it’s that having a multi-asset approach to investing, including cryptocurrencies, is key for both investors and brokers. This is something Match Financial and Nukkleus understand as well as the unique challenges in the cryptocurrency investment space.

Like any emerging market, cryptocurrency is largely unregulated and that increases the level of risk for investors. While more regulation has been making its way into the crypto space, there’s still a long way to go. For example, more than 800,000 leveraged Bitcoin accounts were liquidated in May 2021 as a result of price volatility – and markets still haven’t recovered.

Cryptocurrency investments have unique requirements and challenges. Along with regulatory and volatility-related concerns, secure cryptocurrency custody remains an infrastructural and insurance challenge, particularly for high-volume traders and trading platforms. Additionally, crypto market participants are battling against fraud and other kinds of financial crimes, including money laundering. This means crypto and digital assets are not suitable for everyone. However, for those who understand the asset class and the risks, Match Financial and Nukkleus offer what is believed to be the safest possible mechanism to enter the market and gain exposure to the performance of crypto assets.

This is where Nukkleus can deliver real value to investors. With the acquisition of Match Financial, investors aware of the risks of buying and holding the physical asset, can safely access cryptocurrencies through their network of regulated business partners and liquidity providers. Investors not previously comfortable with the risks in cryptocurrency technology or the available cryptocurrency investment products, will now be able to take advantage of the vast opportunities presented by digital currencies. With a strong background in traditional financial markets and investment banking, the Match Financial team consists of experts in regulation and consumer protection for institutional businesses, as well as for professional and accredited investors.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.fintechnews.org/nukkleus-expands-multi-asset-offering-through-match-financial-acquisition/

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Fintech

A new study reveals 30% of Brits feel anxious about their finances

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A new study reveals 30% of Brits feel anxious about their finances
  • Report finds a quarter of Brits are unsure if self-employed individuals can be approved on a mortgage

  • 59% agree that language used in loan applications is confusing

  • Just 16% say that they read T&Cs of a finance agreement ‘very thoroughly’

  • Manchester residents revealed as the most anxious about managing their finances

After a year-long pandemic where many lost jobs and livelihoods, it comes as no surprise that Brits are feeling anxious about managing their finances. But, what exactly are the UK’s biggest anxieties when it comes to personal loans and understanding ‘financial jargon’?

A new report released by Shawbrook Bank reveals Brits’ current concerns and anxieties when it comes to borrowing money. View the full results of the research here: https://www.shawbrook.co.uk/direct/personal-loans/money-myths-financial-anxiety/

Do Brits understand confusing financial jargon?

  • 59% of Brits agree that the written language used in personal loan applications, and documents, is confusing and not easy to understand.
  • More than 1 in 2 Brits confirm that confusing language would put them off of applying for a personal loan.
  • Just 16% of Brits admit to reading the T&Cs of a finance agreement ‘very thoroughly’ before going ahead with their application.
  • To understand this financial jargon, 34% stated they would search terminology on Google and 6% said they wouldn’t ask anyone for help.

5 tips for reducing personal finance anxiety

Sally Conway, Head of Consumer Communications, Shawbrook Bank provides 5 helpful tips:

  1. Make a budget and stick to it

Knowing how much money you have coming in versus your expenses is the best place to start. It’s important to include everything, from the odd takeaway coffee to your regular bills like rent or mortgage payments. If you are spending more than you earn, look at where you can cut back. Remember to be realistic. There is no point in making a budget that you know you will not be able to stick to.

  1. Educate yourself

Anxiety stems from a fear of the unknown. As they say, information is power so you should take the time to get clued up when it comes to money matters. For example, if you look at our research, 1 in 3 people were unsure of, or didn’t know what their credit score was. Knowing this could give you a better idea of how likely a loan provider might be to lend to you. The bottom line is, by taking a proactive approach and educating yourself about financial products and money management, the less anxious you’ll be.

  1. Ask for help or speak to your friends and family

Sometimes a problem shared is a problem halved. Talk to your friends and family. You never know, they might have been through a similar situation before and give you a little guidance on what to do next. There are also plenty of independent organisations out there to help you if you are in financial difficulty or just need a little advice.

  1. Start building an emergency fund or a buffer

If the last 18 months have taught us anything, it’s the fact that you never really know what’s around the corner. Planning for the unexpected is not easy. But, you can build an emergency fund if something unexpected does happen. Advisers typically recommend aiming for three months’ earnings, but any buffer is better than none at all. Start small and build it up, there are plenty of savings challenges out there that will ease you into the swing of things.

  1. Shop around and do your research

When it comes to money matters & financial products, shopping around is extremely important. There is a lot of choices out there and you’ll need to do your research to find the best deal for you. Whether it’s looking for the best ISA for your savings or finding a personal loan rate that you can afford, take your time, look at all your options and make sure you fully understand what you are signing up to.

For more information on applying for a personal loan, please visit Shawbrook Bank.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.fintechnews.org/a-new-study-reveals-30-of-brits-feel-anxious-about-their-finances/

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