fbpx
FEB
27
Comments

Chinese fintech attracted investments of USD 962.2 million in 2H 2019

HONG KONG, Feb. 27, 2020 /PRNewswire/ -- Fintech companies in China attracted USD 962.2 million in investments from venture capital, private equity and M&A in 2H 2019, resulting in a total of USD 4,479 million in investments for the whole of 2019, according to KPMG's Pulse of Fintech H2'19 bi-annual report on global fintech investment trends.

Fintech investment in China took a breather after a massive 2018, but the country's fintech market continued to see substantial activity and Chinese companies still ranked among the largest fintech deals in Asia Pacific for the whole of 2019. China's large technology giants continued to focus on growing their reach geographically, making investments or plays well outside of Greater China. Ant Financial, for example, submitted an application for a digital banking license in Singapore in late 2019, while Tencent made a number of significant investments in fintech companies in other regions throughout the year, including Ualá in Argentina.

Investors in China also began to turn their attention to up-and-coming areas of fintech. These include regtech, which has appeal among VC investors because of its ability to leverage artificial intelligence and machine learning to assess risk and identify fraud. China-based investors are also interested in fintech companies that use these technologies more broadly to improve the operations of banks and financial institutions, such as improving operational efficiencies, generate and analyse data, as well as support wealth management.

The third quarter of 2019 saw the People's Bank of China unveiled a three-year plan to support the development of the fintech industry. Since then, there has already been a number of moves focused on implementation. For example, a fintech sandbox is in development, with testing currently being concluded in Beijing. It is expected that this plan will help fuel future investment in fintech, particularly in key areas like risk management, cybersecurity, big data, artificial intelligence, distributed databases and authentication.

Chris Wang, Partner, Head of Fintech, KPMG China, commented, "China's central bank and other authority bodies are working to move fintech in the country to '2nd half' as part of their three-year fintech development plan. We anticipate an increased regulation and guidance for the industry and an enhanced infrastructure to support fintech development. For example, sandbox mechanism is being designed and may soon roll out to test the concept of different fintech to make sure they comply with regulations and will achieve the desired results before they enter the market."

Continue reading

Copyright

© PR Newswire

FEB
27
Comments

Lianluo Smart Limited Announces Pricing of Approximately $3.4 Million Offering

BEIJING, Feb. 27, 2020 /PRNewswire/ -- Lianluo Smart Limited ("Lianluo Smart" or the "Company") (NASDAQ: LLIT), a China based professional smart service and products provider announced today it has entered into a securities purchase agreement with certain accredited investors to purchase approximately $3.4 million of its Class A Common Shares (the "Class A Common Shares") in a registered direct offering and warrants to purchase Class A Common Shares in a concurrent private placement.

Under the terms of the securities purchase agreement, the Company has agreed to sell 4.9 million Class A Common Shares. In a concurrent private placement, the Company has agreed to issue unregistered warrants to purchase up to 4.9 million Class A Common Shares. The warrants will be exercisable upon issuance and have an exercise price of $0.70. The warrants will expire 5.5 years from the issuance date. The purchase price for one Class A Common Share and a corresponding warrant will be $0.70. The gross proceeds to the Company from the registered direct offering and concurrent private placement are estimated to be approximately $3.4 million before deducting the placement agent's fees and other estimated offering expenses. The registered direct offering and concurrent private placement are expected to close on or about March 2, 2020, subject to the satisfaction of customary closing conditions.

Maxim Group LLC acted as sole placement agent for the offering.

The Class A Common Shares being sold pursuant to the registered direct offering is being made pursuant to a shelf registration statement on Form F-3 (File No. 333- 227817), previously filed with the Securities and Exchange Commission (the "SEC") on October 31, 2018, as amended, and declared effective on November 8, 2018. Such securities are being offered only by means of a prospectus. A prospectus supplement and the accompanying prospectus relating to and describing the terms of the registered direct offering will be filed with the SEC. The warrants, along with the underlying Class A Common Shares have not been registered under the Securities Act of 1933, as amended (the "Securities Act") and are offered pursuant to an exemption from the registration requirements of Section 5 of the Securities Act contained in Section 4(a)(2) thereof and/or Regulation D promulgated thereunder. When available, copies of the prospectus supplement and the accompanying prospectus relating to the registered direct offering may be obtained at the SEC's website www.sec.gov or by contacting Maxim Group LLC, 405 Lexington Avenue, 2nd Floor, New York, NY 10174, at 212-895-3745.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or jurisdiction.

Continue reading

Copyright

© PR Newswire

FEB
27
Comments

Eye Level selected amongst the top 6 education franchise in India

NEW DELHI, Feb. 27, 2020 /PRNewswire/ -- Eye Level, the 43 year old after school program from Korea has secured 52nd position in the Top 100 list of franchise brands selected by The Franchising World. Eye Level is also ranked amongst the top 6 franchisee opportunity in education sector.

The Franchising World, India's no.1 Franchising Magazine, identifies the TOP 100 Franchise Brands and highlights the established brands that are increasing their positioning in India along with the new-age brands that are lucrative and profitable, expanding fast, as a reference guide for budding entrepreneurs and investors.

The listing is based on a methodology that considers a host of factors, including financial performance, franchise presence, growth rate, and franchise success milestone. The names in Top 100, share a defined identity, a clear business plan, a strong commitment to training and support, implementation of best practices, ability to innovate and sensitivity to cultural and environmental issues.

Eye Level, a global education franchise, offers after school learning program in Math and English for children from age 3 to 15 years. Its teaching philosophy begins with understanding where each child's academic level, personal interest and learning ability is. Thereafter, Eye Level helps student master concepts through one-on-one coaching with a small step approach. Through personalized support from the instructors, students gain a better understanding of the subject. This is further enhanced through a blended learning environment, utilizing both online and offline resources. Students develop critical thinking and problem solving abilities through booklets, interactive games, and instant feedback.

As a franchisor, Eye Level endeavours to bond with its franchisees with the belief that they are all part of one big family. With approximately 1,300 families around the globe, Eye Level seeks for ambitious entrepreneurs who value quality education and financial success. The well-researched curriculum and meticulously designed product, various levels of training, optimized student learning management system, and marketing support ensures that the franchisee is well prepared for its operation.

Continue reading

Copyright

© PR Newswire

FEB
27
Comments

Funding Societies and SGeBIZ Partner to Serve Under-served SMEs

Funding Societies and SGeBIZ Partner to Serve Under-served SMEs

SINGAPORE, Feb. 27, 2020 /PRNewswire/ -- Funding Societies, Southeast Asia's leading SME digital financing platform, has today announced that it is collaborating with Singapore E-Business Pte Ltd (SGeBIZ) to provide quick financing solutions to local SME suppliers and their buyers. Funding Societies offers a diverse range of loan products, which are now easily accessible by SME owners via SGeBIZ's e-procurement management system, EzyProcure, Singapore's first and leading B2B procure-to-pay platform.


Dheeraj Chowdhry, CEO Singapore of Funding Societies and Edmund Louis Nathan, Group CEO of SGeBIZ

According to a 2019 survey conducted by consultancy firm Bain & Company in collaboration with Temasek and Google, millions of Southeast Asia's SMEs today still encounter large funding gaps. The survey expects innovations in SME working capital financing, similar to what platforms like Funding Societies are doing, to grow by more than 20% annually through 2025, ultimately becoming the largest revenue contributor of the region's transactions. 

As an organisation founded to support the working capital needs of the under-served or un-served SMEs, Funding Societies views this partnership as another way to lower the barrier of access to working capital for small businesses. Small businesses on SGeBIZ will now be able to access funds from Funding Societies to improve and match their cash cycles, giving them an opportunity to grow their business. Funding Societies provides loans to SMEs in as quickly as 24 hours.

SGeBIZ was launched in 2014 by two ex-Republic of Singapore Air Force aviators on a mission to simplify work processes for SMEs through automating data entry and digitising inventory, supply chain and credit rails. Their flagship product, EzyProcure, is now a PEPPOL (Pan European Public Procurement On-Line) compliant and IMDA-approved access point provider supporting the E-Invoicing Initiative implemented nationwide last year.

Continue reading

Copyright

© PR Newswire

FEB
27
Comments

ViettelPay - the fastest growing FinTech app in Vietnam - expects triple regular users in 2020

  • ViettelPay is the fastest growing fintech application in Vietnam in 2019
  • ViettelPay users are allowed to deposit savings at an interest rate of over 8%/year

HANOI, Vietnam, Feb. 27, 2020 /PRNewswire/ -- ViettelPay, launched by Viettel Digital Services - a member of Viettel Group, is the fastest growing fintech application in Vietnam in 2019 despite the number of fintech companies increased by 71% compared to 2018. ViettelPay now has more than 9 million users; while the number of regular users increases 6 times compared to the end of 2018. The average cash flow generated through ViettelPay reached VND 50,000 billion with 40 million transactions.

Among various benefits like transfer to 40 domestic banks, cash withdrawal at all ATMs and Viettel's service points in Vietnam, users of ViettelPay can also have saving account with interest rate at over 8% yearly, the highest in the market.

In 2019, ViettelPay's salary payment service has more than 4,000 partners with payment cash flow reaches nearly VND800 billion/month. ViettelPay is also providing fee payment service for 450 schools in 20 provinces and cities across Vietnam.

In 2020, the number of regular users of ViettelPay is expected to be tripled comparing to 2019 with 120,000 transaction points nationwide. ViettelPay's services will be provided with the assistance of Face ID, A.I. and eKYC (Electronic Know Your Customer).

Viettel's goal is to provide digital banking to everyone, everywhere. While certain fintechs only concentrate in urban areas, ViettelPay has invested nation-wide at the get-go.

Continue reading

Copyright

© PR Newswire

FEB
27
Comments

Youdao Reports Fourth Quarter and Fiscal Year 2019 Unaudited Financial Results

HANGZHOU, China, Feb. 27, 2020 /PRNewswire/ -- Youdao, Inc. ("Youdao" or the "Company") (NYSE: DAO), a leading intelligent learning company in China, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2019.

Fourth Quarter 2019 Financial Highlights

  • Total net revenues were RMB410.4 million (US$59.0 million), a 78.4% increase from the same period in 2018.
    - Net revenues from learning services and products were RMB311.9 million (US$44.8 million), a 128.6% increase from the same period in 2018.
    - Net revenues from online marketing services were RMB98.5 million (US$14.2 million), a 5.2% increase from the same period in 2018.
  • Gross billings of online courses[1] increased 211.1% year-over-year to RMB346.7 million (US$49.8 million) and gross billings of Youdao Premium Courses[2] increased 201.4% year-over-year to RMB281.0 million (US$40.4 million).
  • Gross margin was 29.8%, compared with 29.7% for the same period in 2018.
  • Deferred revenue from online courses was RMB407.9 million (US$58.6 million), compared with RMB129.1 million as of December 31, 2018.

Fourth Quarter 2019 Key Operating and Financial Data


For the three months




ended December 31

Continue reading

Copyright

© PR Newswire

FEB
26
Comments

TradingView Becomes a Top 300 Global Website

NEW YORK, Feb. 26, 2020 /PRNewswire/ -- TradingView now ranks as a top 300 global website according to Alexa rankings (#272 on the release date). Today, more than 10 million traders and investors visit TradingView each month and collectively they've published over 3.5 million investment ideas that span all asset classes.

"We've made the journey from a tiny group of enthusiasts to a network that spans all markets," said Rauan Khassan, VP International Growth of TradingView. "It's never been easier to express market opinions, gain trading experience, meet others, and get real-time data."

In addition to the 3.5 million published ideas, the community works together to build their own indicators and automated strategies using TradingView's proprietary scripting language, Pine. To date, over 100,000 Pine scripts have been created.

In recent weeks, TradingView has continued its goal of making financial markets more accessible by empowering free expression and connectivity among investors and traders. Recent product releases include the ability for community members to share videos from the TradingView platform to their Youtube accounts and to live stream their trading as a new Twitch-feature.

"This year, we have several exciting releases planned, including a new product that will change the way investors and traders record, share, and live stream video," remarks Khassan.

Continue reading

Copyright

© PR Newswire

FEB
26
Comments

PLMP Fintech's Venture Capital entity secures Fund Management licence to bring blockchain to over 10,000 SMEs in 10 years

PHNOM PENH, Cambodia, Feb. 26, 2020 /PRNewswire/ -- The local investment arm of Singaporean blockchain firm PLMP Fintech, PLMP Venture Capital, has been awarded today an Asset and Fund Management licence by the Securities and Exchange Commission of Cambodia (SECC). The move is part of the company's  ten-year target to incubate more than 10,000 SMEs through blockchain solutions and networking opportunities.

"We have a diversified portfolio of technological, real estate and financial projects that are already in the works," says PLMP Fintech Co-Founder Peter Lim citing the examples of the Creatanium Smart City and the ongoing integration of Indonesia's logistics sector with the firm's own blockchain protocol.

In the words of Kym Kee, Managing Director of PLMP Venture Capital, "The licence will open the doors to institutional and high-net-worth investment as we plan for the Creatanium Silicon Valley." With a projected value of US$5 Billion to be achieved in the span of ten years, once completed, the project would become Cambodia's first Technology Park to house SMEs and start-ups in emerging technologies such as AI, robotics and cybersecurity through blockchain.

Asset and Fund Management is just the first step of PLMP Fintech's vision to play a major role in the development of Cambodia's SME sector. The firm is in the midst of acquiring a Specialized Bank licence to launch public, private and online services and provide business loans and micro-loans through digital collaterals. Counting on all three segments will grant the flexibility to cater for established companies and institutions while developing new products for the significant number of local entrepreneurs that are still unbanked.

In the same framework, PLMP Venture Capital together with its partner CSME will be hosting regular events to showcase innovative SMEs from the region and give them the chance to increase their visibility in front of top industry leaders and potential investors. The two firms will be the sponsors behind this April's edition in Phnom Penh of the Startup World Cup, a global competition that will award the best project with a US$ 1,000,000 funding grant.

Continue reading

Copyright

© PR Newswire

FEB
26
Comments

Hong Kong-Based Peak Group Reaffirms Strategic Focus on Investment in India's Tech Space

Hong Kong-Based Peak Group Reaffirms Strategic Focus on Investment in India's Tech Space
  • Empowering India's fast-growing Tech sector with Peak Group's strong expertise and resources in Greater China and Southeast Asia
  • Companies that Peak invests in, such as online personal financing platform CashMama, are at the forefront of the technological innovation and have led to profound impact on the traditional economy in India

HONG KONG and SINGAPORE, Feb. 26, 2020 /PRNewswire/ -- Peak Holding Group Limited (together with its subsidiaries, "Peak Group"), a leading investment firm in the Venture Capital ("VC") and Private Equity ("PE") space in Asia, announced its investment strategy for 2020 and beyond, and reaffirmed its strategic focus on the Indian market.

Mr. Anthony Wong, Chairman and CEO of Peak Group, commented, "Peak Group has come a long way in the past 10 years, spanning our investment footprint in big data, blockchain, artificial intelligence and other areas in Greater China and Singapore. Our understanding in the FinTech space deepened, our network within the ecosystem expanded and we achieved a highly successful investment track record. As the new decade unfolds, we aim to capitalize on our resources and expertise in cyber security, cloud service, digital marketing and mobile payment, and extend our strategic focus to India."

Peak Group started to make private equity investments in India's promising FinTech companies since 2019. One of its investments was in CashMama, a mobile financial technology platform that provides users with convenient and fast financing services.


Mr. Anthony Wong, Chairman and CEO of Peak Group

CashMama is one of the many innovative FinTech platforms that are bringing profound, structural changes in the world's second most populous country. As the upgrade requirements of the middle class fueled the rapid growth of the personal loan market in India, FinTech rose to serve a significant part of the unmet financing needs. Leveraging on mobile payment solutions, platforms such as CashMama provide easy access to ready information and products for people and facilitate their financing decisions. At the same time, big data and advanced algorithms help build the credit record for more people and enhance credit risk management for lenders.

Continue reading

Copyright

© PR Newswire

FEB
26
Comments

Actifio Enables HUB24 to Transform Wealth Management with Smarter and Faster Data Access

'Actifio reduces refresh times from days to minutes, required storage capacity to a fraction of what it was' 

WALTHAM, Massachusetts and MELBOURNE, Australia, Feb. 26, 2020 /PRNewswire/ -- Actifio, the pioneer of multi-cloud copy data management software, today released details of another highly successful customer relying on Actifio as the core of its DevOps initiatives to sharpen its competitive edge.

Listed on the Australian Securities Exchange, HUB24 provides its customers globally with an award-winning investment platform. Now, using Actifio to enhance and accelerate application development, HUB24 enables continuous platform development to enhance the firm's competitive market position. Creation of production database copies for application has moved from slow and complicated to fast and simple. The process also masks sensitive data to protect client privacy. Projects can now advance with simultaneous feature development and more frequent release updates.

HUB24's flexible technology allows advisers and licensees to customize the platform solution to fit their businesses. Incorporation of Actifio's patented Virtual Data Pipeline (VDP) technology into the HUB24 platform has enhanced and automated the platform to more rapidly and flexibly enable financial advisors to create portfolios and trades on behalf of their clients. Actifio technology enhances the HUB24 platform, which is recognized across the industry for value and customer experience. It equips advisers with the technology to efficiently manage and add value for their clients. It also enables easy creation of virtual production database copies that reduce storage capacity by a 1-to-50 ratio and substantially improves time savings throughout the development cycle.

Ferdy Suharta, HUB24 DevOps manager, said, "We knew from the start that this was the perfect solution. It's a massive time saver. Actifio reduces refresh times from days to minutes. Required storage capacity is a fraction of what it was. Also, our operating efficiencies and development speeds are having a direct and positive impact on our business."

Continue reading

Copyright

© PR Newswire

Quick Post

What would you like to share today?
You can also favorite these post types to have quicker access
Photos
Files
Link
Status
Photos
Files
Link
Share and stream what's new to our social channels...
  Add photos   Click or drop photos here to upload.
Pending Preparing to upload... Uploading... Upload failed. (see details) Upload completed.
( left)
Add files Click or drop files here to upload
Type a hashtag to start searching for tags
Keyword does not match any tags
Type a name of your friend
No friends found by that name
Keyword does not match any emoticons
 
     
 

Broker Search

Latest Spot Rate

 
27 February 2020
We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.Original link...
27 February 2020

27 February 2020
Oil prices fall for fifth day to lowest in a year - MarketPulseMarketPulseHome/Commodities/Economic ExposureShare 0Oil prices fell nearly 3% on Thursday, plunging for a fifth day to their lowest since January 2019 as a rise in new coronavirus cases ...
27 February 2020
HONG KONG, Feb. 27, 2020 /PRNewswire/ -- Fintech companies in China attracted USD 962.2 million in investments from venture capital, private equity and M&A in 2H 2019, resulting in a total of USD 4,479 million in investments for the whole of 2019...
27 February 2020
BEIJING, Feb. 27, 2020 /PRNewswire/ -- Lianluo Smart Limited ("Lianluo Smart" or the "Company") (NASDAQ: LLIT), a China based professional smart service and products provider announced today it has entered into a securities purchase agreement with ce...
How It Works | About | Contact | Contributors | Privacy Policy | Advertise
© 2009 - 2020 ChatPips. All Rights Reserved. Terms of Use: The content on this website is solely for educational and informational purposes and is not a substitute for official documentation of the original owners. This site is not operated by, sponsored by, endorsed by, or affiliated with any parties in any way. The website owner, the authors, the publishers, and all affiliates of ChatPips.com assume no responsibility or liability for your trading and investment results. You should always check and confirm with several sources with your licensed financial advisor and tax advisor to determine the suitability of any investment before making your final decision. Your continued usage and browsing of information on this website constitute your agreement to this Terms of Use. If you do not agree, please do not proceed to use this website. Brokers Directory: The companies license information were obtained from respective local jurisdiction. All other company and/or product names are trademarks and/or registered trademarks of their respective owners.