Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [December 23, 2020] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Oscar, an American insurance technology entrepreneur, has submitted its listing application to sec

On December 21, 2020, Oscar, a US insurance technology venture, announced that it had secretly submitted form S-1 to the US Securities and Exchange Commission (SEC) in preparation for the proposed IPO. At present, the total amount and price of the common stock to be issued have not been determined yet, and the decision has to wait for market conditions and SEC review results. Founded in 2012 and headquartered in New York, Oscar is a health care company based on full stack technology platform, which is committed to providing health insurance services for individuals, families and groups.

[2]. Pine labs, a digital payment startup, has been refinanced, becoming the third largest financial technology platform in India

On December 22, 2020, pine labs, an Indian digital payment company, announced that it had obtained about $75 million to $100 million in financing. The financing is led by Lone Pine capital, a US hedge fund, which has previously invested in a number of us start-ups including Uber. After the completion of the financing, the platform valuation of pine labs has reached US $2 billion, which is 33% higher than the valuation level in January 2020. By market capitalization, pine labs has become the third largest financial technology company in India, after paytm (US $16 billion) and phonepe (US $5.5 billion). Pine labs mainly distributes POS machines to businesses to help them accept electronic payments. In addition, the company also began to provide “buy first, pay later” payment services to retail users.

[3]. Brazil financial technology innovation laboratory annual project announced, outstanding performance in the field of Agriculture

Lift is an innovation ecosystem designed to promote technological innovation in Brazilian financial activities, improve the efficiency of Brazil’s national financial system (SFN), reduce credit costs and promote financial citizenship. On December 8, 2020, the Central Bank of Brazil (BCB) released the list of projects selected for lift development plan in 2020. It is worth noting that the total number of selected projects will reach 21 in 2020, which is higher than that in 2018 (12) and 2019 (17). Among them, projects focusing on agriculture and environmental sustainability are particularly eye-catching, involving fast agricultural credit, “forest bonds” related to protected areas / cultivation areas, credit information platform, etc.

[4]. Online collection service provider Bolt gets $75 million in round C financing

On December 21, 2020, bolt, an online collection service provider, announced a $75 million round C financing. The financing is led by westcap and general Atlantic, with active capital, triangle capital and a number of angel investors participating in the financing. After the completion of this financing, the cumulative financing amount of bolt has reached 215 million US dollars. Bolt was founded in 2014 to help users manage the collection back-end (providing payment options, handling payments safely, and detecting fraud) to enhance the flexibility and convenience of retailer services. At present, bolt is developing a “one click” checkout service. Affected by the new crown epidemic, more and more brands begin to turn to online sales channels, so the attention to customer experience also increases. In addition to bolt, fast, a start-up enterprise, is also developing a one click purchase service, and in March 2020, it obtained a round a financing of $20 million from stripe led investment. Statistics from CrunchBase show that investors will invest 3.3 billion US dollars in e-commerce technology start-ups in 2020.

[5]. The Italian Banking Association began to test digital Euro based on DLT

ABI has begun to test digital Euro based on distributed ledger technology. ABI, a group of more than 700 Italian Banking institutions, said on Tuesday that the work would examine the technical feasibility of the digital euro and further explore “new value-added services” that could be realized due to the programmable nature of the technology. The experiment will be divided into two parts: one part studies infrastructure and distribution models to assess technical feasibility, and the other part evaluates how programmability provides use cases to distinguish central bank digital currency from existing electronic payment systems. ABI said the initiative was aimed at actively promoting public debate and supporting banks operating in Italy to prepare for the future.

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