It’s been a blast. Data Breaches (another and yet another sadly)
Capital One bank experienced a hack that exposed private data of more than 100 million customers. Credit rating bureau Equifax will need to pay up to $700 million for its 2017 breach. Fintech Megarounds
German neobank N26 raised additional $170 million to its $300 million Series D round. Brazil's Nubank serving over 12 million customers raised $400 million in Series F funding. We are witnessing flaws of our existing financial infrastructure and rise and rise of FinTech. Let’s look at how the future of finance would look like with Novum Insights.
We’ve identified hot companies in the field.
Robinhood allows customers to buy and sell US stock exchange listed stocks and ETFs, options and cryptocurrencies, all commission-free. Its app is designed to give customers a clear map of the portfolio’s performance. Robinhood’s stock brokerage services lower the barrier to the financial markets.
Total investment raised: $862M
NetGuardians software is designed for banks to detect and prevent fraudulent activities. Its innovative AI and machine learning technologies catch unusual transactions and fraud threats by monitoring employee and customer behaviour. They also minimise false positives making sure the customers have frictionless experience.
Total investment raised: CHF 13.5M ($13.8M)
Paytm is India’s biggest payment and e-commerce platform and its QR based mobile payment services provide seamless payment experience. Paytm is the payment gate for metro recharges, utility bills, Indian Railways, education fees and offers movies, events and flight ticket bookings. Paytm has launched Paytm Bank aiming to bank the unbanked.
Total investment raised: $2.1B
Headquartered in Chicago, Avant provides online lending solutions. Using big data and machine-learning, Avant rates an individual’s creditworthiness and offers a personalised approach to borrowing.
Total investment raised: $1.8B
Credit Karma allows individuals to check their personal credit scores and gives personalised solutions for credit cards, personal loans, home loans without risking the scores.
Total investment raised: $868M