Fintech Daily Briefing

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The following is the Fintech Daily Information Briefing on [January 26, 2021] recommended by And this article belongs to the classification: Fintech Daily Briefing.

[1]. Melio, a B2B payment service provider, received $110 million in financing, with a valuation of $1.3 billion

On January 25, 2021, melio, a U.S. financial technology startup, announced that it had received US $110 million in financing, with a platform valuation of US $1.3 billion, making it one of the “unicorn” startups. Melio mainly provides digital payment management services for small enterprises to help them complete payment more conveniently and supervise and control cash flow in time. Since the outbreak of COVID-19, the total number of Melio users has increased significantly. Melio was founded in 2018 and has raised a total of US $256 million. Its investors include accel, Aleph, Bessemer venture partners, corner ventures, general catalyst, latitude, salesforce and American Express ventures.

[2]. Kenya agricultural insurance technology platform Pula receives us $6 million round a financing

Recently, Pula, an insurance technology company headquartered in Kenya, announced that it will obtain US $6 million in round a financing. This financing is led by tlcom capital and participated by women’s world banking, a non-profit organization. Founded in 2015, Pula is committed to providing insurance services for users in regions with large population of small-scale farmers such as Asia and Africa through technological innovation. At present, the company’s services have covered Senegal, Mali, Nigeria, Ethiopia, Kenya, Rwanda, Uganda, Tanzania, Malawi, Zambia and Mozambique, with a total of more than 3.4 million household users. Previously, Pula also received $1 million seed round financing from action venture lab, Omidyar network and some angel investors.

[3]. Through the nomination, Yellen will become the first female Treasury Secretary in the United States

The nomination of former Federal Reserve Chairman Janet Yellen as Treasury Secretary has been formally approved by the US Senate. It is reported that Janet Yellen is the first female chairman of the US Federal Reserve, and now she will become the first female Treasury Secretary in US history. Previously, Janet Yellen said at the Senate appointment hearing, “law enforcement officers in charge of money laundering and other illegal financial activities should pay special attention to cryptocurrency. Many cryptocurrencies are used for illegal financing, and the government needs to curb the illegal activities of money laundering through cryptocurrency platform.” In addition, Janet yellow plans to work with the federal bank and other institutions to effectively regulate cryptocurrency. It is worth mentioning that, while she stressed that cryptocurrencies could be used to finance terrorism and other illegal activities, they could also “improve the efficiency of the financial system.”.

[4]. Malaysian financial technology start-up company capbay receives us $20 million round a financing

According to tech in Asia, Malaysia’s P2P platform capbay announced that it has completed a round of financing of US $20 million, led by Singapore venture capital firm KK fund. Capbay, founded in 2016, aims to provide financing solutions for small and medium-sized enterprises to enrich the cash flow in the supply chain and help the development of small and medium-sized enterprises. The company, formerly known as capital Bay, launched its P2P service in March 2020 and is said to have helped 500 investment projects complete $24.7 million in financing. This round of financing will be used for technology R & D and market development.

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