Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [December 09, 2020] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Gohenry, an application platform for youth financing, received another $40 million in financing

On December 8, 2020, gohenry, an application platform for youth financial management, announced that it had obtained $40 million in financing. This financing is led by Edison partners and participated by Gaia capital partners, Citi ventures, Muse capital and other institutions. Meanwhile, gohenry also announced that the total number of users of the platform has reached 1.2 million and has been profitable since March 2020. Gohenry said it would use the financing to further develop its “fintech + educational technology” portfolio in the U.S. market and planned to expand it to the UK market.

[2]. Lemonade, a unicorn of insurance technology, landed in French market

Recently, lemonade, an insurance technology entrepreneur, announced its landing in the French market. Founded in 2016, lemonade was listed on the New York Stock Exchange on July 2, 2020. The company through the digital platform, to provide users with fast and convenient tenant insurance. At present, lemonade has been authorized and supervised by the Dutch Central Bank, covering the Dutch and German markets. Lemonade said the French market starts at 4 euros a month for tenant insurance and offers consumers optional coverage. In the future, lemonade also plans to enter more European markets.

[3]. After the change of name, Facebook stable currency project encountered new problems

On December 1, 2020, Facebook announced that its Libra stable currency project was officially renamed Diem. Within a week, however, Facebook was in trouble again. A financial technology start-up from London said the name of Facebook’s new project infringed on its intellectual property rights because it was also named Diem. Founded in October 2020, this venture mainly provides online product sales and debit card services for users. It is defined as “some form of digital pawnbroker” by the technology media sifted. Diem is concerned that Facebook’s move may cause users to confuse the products of the two organizations.

[4]. Online brokerage Robin Hood chooses Goldman Sachs to lead the IPO

Robin Hood, an online brokerage platform, has chosen Goldman Sachs to take the lead in preparing for next year’s initial public offering, which is expected to be valued at more than $20 billion, according to people familiar with the matter on Tuesday. For now, both Robin Hood and Goldman Sachs declined to comment. Since its inception in 2013, Robin Hood has raised more than $2 billion from private investors, including venture capital investors such as Andreessen Horowitz, Sequoia and ribbon capital, as well as celebrities such as rapper Snoop Dogg and actor Jared Leto, according to data from pitchbook. In September 2020, Robin Hood was valued at $11.7 billion in the last round of private equity financing. Robinhood’s convenient, flexible and low threshold trading mode has been warmly welcomed by investors (especially millennials), and the outbreak of the new crown epidemic this year has greatly promoted the use of Robin Hood platform.

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