lumengxi

41 Flips | 6 Magazines | 24 Likes | 5 Following | 1 Follower | @lumengxi | Keep up with lumengxi on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “lumengxi”

Four behavioral economics strategies for improving consumer financial health

Kristen Berman Contributor<p>Kristen Berman is a co-founder of Duke's Common Cents Lab with Professor Dan Ariely. Common Cents is generously supported by MetLife Foundation. Kristen was on the founding team of Google's behavioral economics team, and was previously the founder of Irrational Labs, a …

Activehours raises $39 million for its new take on cash advances

Nine months after raising $22 million for its unique take on the cash-advance business, Activehours has gone back to the venture capital well and pulled out another $39 million in financing.<p>Led by Andreessen Horowitz, with participation from the company’s early-stage investors Matrix Partners, …

Why ‘TAM’ doesn’t matter to me

When you ask a VC what they look for in investments, you’re likely to get a response that involves going after a large “TAM,” or “total addressable market.” TAM is defined as “the existing revenue opportunity available for a product or service,” and it’s often calculated by taking the existing …

Cryptocurrency

TECH BANKER: European fintechs are 'valued too highly' and consolidation is coming

Victor Basta, cofounder and CEO of London-based Magister Advisors, wrote in a blog post shared with Business Insider ahead of publication: "Many fintech companies are valued too highly in financing rounds, and need years of performance for their 'cash value' to catch up to the financing round …

Fintech startup Klarna taps Permira for around $250M at $2.5B valuation

Klarna, the Swedish startup that works with e-commerce businesses and retailers to provide financing and other payment services, today announced that it has picked up yet another large investment, its third inside of two months. Permira, the private equity firm and prolific late-stage tech …

Boost for UK fintech as Receipt Bank secures huge $50 million in funding

Insight Venture Partners led the investment, one of the biggest deals in UK fintech since Brexit.<p>Receipt Bank, launched in 2010, is a bookkeeping service aimed at small businesses. It was the first software company to automatically process information from uploaded images of receipts and invoices, …

Venture Capital

Plaid puts out a ‘request for startups’ in nine underserved fintech sectors

Plaid wants to make it easier for financial services companies to serve consumers and businesses, but it also sees significant holes in the fintech ecosystem. As a result, the company has issued a Y Combinator-like “request for startups” to tackle particular issues where it believes significant …

Financial Services

What’s next for blockchain and cryptocurrency

In May of 2010, someone on a Bitcoin forum by the name of Lazlo claimed to have bought two pizzas for 10,000 bitcoins. It was the first time anyone had purchased anything with the new digital currency, which at that time was valued at practically nothing.<p>Today, the cryptocurrency market is worth …

Walmart tries using blockchain to take unsafe food off shelves

It's scary when stores have to pull unsafe food. It can take days to pinpoint the batch or supplier that caused the problem, which could lead to people getting sick... or at best, force the store to yank more products than necessary. Walmart believes technology could offer a better way. It's trying …

Behind the Redesign and Reinvention of Coinbase

Despite Bitcoin’s failure to achieve its initial promise as quickly as early enthusiasts expected, Coinbase, a digital money startup based in San …

Making the case for a startup visa

Elmira Bayrasli Contributor<p>Elmira Bayrasli is the co-founder of Foreign Policy Interrupted and the author of From the Other Side of the World: Extraordinary Entrepreneurs, Unlikely Places.<p>More posts by this contributor:<p>With a €20 million Series A Snapp opens up ride-sharing in Iran<br>• As Turkey’s coup …

Amazon ends its student loan partnership with Wells Fargo, six weeks after launch

Amazon’s latest perk — discounted student loans, aimed at Amazon Prime Student customers — is no more, according to a report from Bloomberg, and confirmed by both companies. The partnership between the online retailer and Wells Fargo was announced this July, and saw the lender offering a 0.50 …

Finance

China is disrupting global fintech

Joshua Bateman Contributor<p>Joshua Bateman is based in Greater China and covers finance, entrepreneurship, technology, consumption trends, agriculture, gaming, sports and art.<p>More posts by this contributor:<p>Accelerating fintech in China<br>• Banking the unbanked in emerging markets<p>In China, the abacus was …

Looking beyond the hype at fintech in Southeast Asia

Christiaan Kaptein Contributor<p>Christiaan Kaptein is a principal at Dymon Asia.<p>From the offices of Venture Capital firms to the financial services districts, you may not be able to escape the promising whispers of fintech startups. Take a structural shift to mobile, an ever decreasing cost of …

The rise and rise of Mexican fintech

Nothing tells the story of how the Mexican tech ecosystem is steaming ahead in Latin America quite like the rise of fintech.<p>The financial services space ticks all the right boxes entrepreneurs look for when launching a company: hard to solve problems, meaningful impact, transformational …

J.P. Morgan Is Bringing Some Fintech Startups In-House

Dear fintech hopefuls: Button up.<p>You might be sitting next to a J.P. Morgan (jpm) banker soon.<p>The New York-based investment banking giant announced …

Blockchain: Digital Business Disruptor or Doomed to Oblivion?

Blockchain will do for business transactions what the internet did for information. That’s what some of the boldest innovators believe about this architecture that promises to streamline commerce with built-in trust and transparency.<p>Hailed as the foundation for the next generation of transactional …

How new tech can improve the loan process

Anyone who keeps up with the stock market is likely aware that Lending Club is in hot water. Anyone with professional lending experience is likely unphased by this.<p>Peer-to-peer lending bypasses the regulations to which traditional lenders must adhere, which is why the concept took off during the …

The Evolving Nature Of P2P Lending Marketplaces

Matt Heiman Contributor<p>Matt Heiman is an investor at Greylock Partners.<p>More posts by this contributor:<p>Predicting success in startup consumer brands<br>• Why ‘TAM’ doesn’t matter to me<p>In March 2014, The Economist published Banking without banks, declaring that peer-to-peer (P2P) lending platforms were set …

Investing

Fintechs — a 'shoal of piranhas' — have forced banks to switch from 'compete to collaborate'

Think about TransferWise, one of the few British tech unicorns (private companies worth over $1 billion), and PayPal when it comes to payments and peer-to-peer matching services. Or how about the blockchain — the technology that underpins bitcoin. Or online-only banks?<p>All in all, the way we bank …

Financial Services

Another $1 Million Crowdfunded Gadget Company Collapses

Remember the Robotic Dragonfly? The little drone was an early crowdfunding success story, netting over a $1 million in pledges on Indiegogo in 2012. At the time, it was one of the first crowdfunded gadgets to raise more than a million dollars. The project promised a tiny robot that can fly like a …

Barry Silbert Launches Digital Currency Group With Funding From MasterCard, Others

Less than a week after selling SecondMarket to NASDAQ, Barry Silbert has announced the official launch and and first round of funding for Digital Currency Group.<p>Talking onstage to TechCrunch Editor John Biggs today at Money 20/20, Silbert announced that the company has closed a round from Bain …

Digital Currency

Bank Loans Are A Better Financing Option Than You Might Think

Today’s startup scene is all about raising VC money — as much as possible, as fast as possible. The market celebrates VC fundraising, cheers unicorns and makes it seem like VC-backed startups are the holy grail of innovation. And so my fellow entrepreneurs were somewhat surprised to learn that when …

Startups

Facebook Lite Is A Stripped Down Android App For The Developing World

Facebook can be painfully slow on weak network connections or prohibitively expensive on stingy data plans that are common in India, Africa, and Southeast Asia. So today, Facebook is launching a bare-bones, low-resolution version of its Android app that works well on crummy networks or outdated …

Emerging Markets

How We Redesigned Our Product in Less Than a Week

<i>Bastiaan Janmaat and Mike Dorsey are co-founders of DataFox, a predictive intelligence company reinventing the way investors, analysts, and business development professionals research and track technology companies.</i><p>Time is often the scarcest resource for a startup. When you’re building a complex …

WorkAngel, The Mobile-First Employee Reward And Recognition Platform, Scores $5M Series A

Ensuring that employees are engaged and feel recognised and rewarded is key to employee retention. Or so the theory goes. One way that companies attempt to do this is through ‘voluntary benefits’ schemes, offering discounts and deals from various retailers and brands. However, uptake of such …

Amazon to Hachette: E-books should be cheaper than print books. Duh

The ongoing war between Amazon and major book publisher Hachette shows no signs of stopping.<p>After failing to satisfy Hachette authors with better e-book pricing, Amazon has revealed the reasons behind cheaper e-book prices: Expensive e-books won’t sell as well as inexpensive ones.<p>The conflict …

Amazon Tests ‘Kindle Unlimited,’ A Netflix For Ebooks And Audiobooks

Amazon might give readers something to get really excited about: A digital ebook and audiobook subscription service that provides Kindle users with all the content they can consume from a potential library of over 600,000 titles for just $9.99 per month. That’s according to this cached link, first …

Amazon Isn’t Killing Writing, The Market Is

Amazon’s war on publishers reached a crescendo yesterday with the leak of Kindle Unlimited, a subscription plan that would allow readers to pay $9.99 per month for unlimited access to the Kindle ebook library. No longer content with simply demanding steeper discounts from publishers like Hachette — …

Amazon Officially Announces Kindle Unlimited, Offering Endless Reading And Listening For $9.99 A Month

Amazon officially announced that Kindle Unlimited, an all-you-can eat reading and listening service, that we first mentioned two days ago. Dubbed a “Netflix for books” by our own Darrell Etherington, the service offers over 600,000 books for free reading on Kindle and Kindle-enabled devices as well …