Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [January 13, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. US Department of Justice: visa and plaid have abandoned the merger plan

In January 2020, payment giant visa announced its $5.3 billion acquisition of plaid. In June of the same year, a lawsuit accused the company of collecting relevant data of services such as venmo, stripe, square’s cash app and Robin Hood through “data plumbing”. In November of the same year, the U.S. Department of Justice filed an antitrust lawsuit against visa for its acquisition of plaid. On January 12, 2021, the U.S. Department of Justice announced that visa and plaid had withdrawn from the merger program. Foreign media analysis pointed out that the U.S. Department of justice’s victory in the case of visa’s acquisition of plaid may lay the foundation for a series of subsequent anti-monopoly law enforcement activities.

[2]. Clark, a German insurance technology platform, won 69 million euros in financing, and Tencent led the investment

On January 12, 2021, Clark, an insurance technology platform, announced the acquisition of 69 million euro round C financing. The financing was led by Tencent and participated by existing investors portag3 ventures, white star capital and yabeo. Founded in 2015 and headquartered in Frankfurt, Germany, Clark improves the insurance service experience through digital means. After users register on their platform, Clark will search the whole market and provide users with the best price products through the algorithm based system. At present, Clark’s service scope covers Germany and Austria, and the total number of individual users exceeds 300000. In the future, Clark plans to use this financing to continue to increase product development and market expansion.

[3]. Financial technology platform Completed US $450 million round C financing, setting a new high in European valuation

January 12, 2021, payment processing platform It announced the completion of US $450 million round C financing, with a valuation of US $15 billion, becoming the most valuable financial technology enterprise in Europe. This financing is led by Tiger global management and participated by insight partners, DST global, coat management, blossom capital and endeavor catalyst. Thanks to the upsurge of online shopping brought by the epidemic, Revenue almost doubled in 2020. At present, With more than 1000 employees in 17 offices around the world, we plan to continue to expand our team in the coming year. Previously, He has also made two acquisitions for processout, a French payment company, and pinpayments, an Australian platform, and made a strategic investment in thunes, a Singapore payment company.

[4]. Biden may appoint Gary Gensler as the next chairman of the SEC

Biden may appoint Gary Gensler as the next chairman of the securities and Exchange Commission, Reuters quoted sources as saying recently. Gary Gensler served as chairman of the US Commodity Futures Trading Commission (CFTC) from 2009 to 2014 and has led Biden’s team’s financial regulatory transition plan since November 2020. Some market participants believe that Gensler’s election may strengthen supervision and let Wall Street bid farewell to the loose policy of the past four years.

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