Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [August 27, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Khatabook, India’s digital account book management platform, received US $100 million in round C financing

On August 24, 2021, khatabook, an Indian financial technology startup, announced that it had obtained a round C financing of US $100 million, and the valuation of the platform reached US $600 million. This financing is led by tribe capital and Moore strategic ventures, and participated by alkeon capital, Sequoia Capital, Tencent, RTP global and Unilever ventures. Khatabook was founded two and a half years ago. It mainly provides account book management, employee management, business analysis and other services to Indian small and medium-sized enterprises.

[2]. IMF: the impact of financial technology on central bank governance

On August 24, 2021, the International Monetary Fund released the impact of fintech on central bank governance. The report points out that the development of financial technology industry provides a unique opportunity for the central bank. The rapid technological changes that promote the transformation of the financial system can help the central bank strengthen the implementation of core functions such as currency execution and payment system. However, financial technology will also bring many challenges. The central bank has always been at the forefront of financial technology and innovation. In the past, the invention of paper money, the completion of payment processing through loan account books, and the transition from telegraph to Internet Protocol inter-bank payment system can be regarded as such transformation and innovation. Today, the central bank is facing unprecedented challenges, involving distributed ledger technology, new data analysis (artificial intelligence and machine learning), cloud computing, wider mobile access and Internet speed and bandwidth improvement. This report aims to explore how the central bank can better deal with the impact of financial technology on its governance from a legal perspective and based on the understanding of the existing central bank’s response measures.

[3]. Aumni, an American investment analysis platform, completed round B financing of US $50 million

Recently, aumni, a financial technology startup located in Salt Lake City, USA, announced that it had completed round B financing of US $50 million. The financing was led by JPMorgan Chase, with new investment institutions Pelion venture partners, existing investors SVB financial group, DLA Piper, next frontier capital, kickstart fund, first trust capital partners and Prelude fund. Founded in 2018, aumni extracts and analyzes key data and information in investment legal texts through artificial expertise and AI technology. Its main service objects include venture capital institutions, family offices, corporate venture capital and university endowment funds.

[4]. Nubank plans to go to the United States for IPO, with a target valuation of more than $55.4 billion

According to people familiar with the matter, nubank, a Brazilian digital bank, plans to go to the United States for IPO, with a target valuation of more than $55.4 billion. In June this year, Berkshire Hathaway, at the helm of Warren Buffett, as a new investor, injected $500 million into nubank. After the financing, nubank’s valuation reached US $30 billion.

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