Uncategorized

Google hears the fintech music, invests in Symphony

close

Email a Friend

Google hears the fintech music, invests in Symphony

Without much fanfare and quietly, Google has become one of the most active early stage investors in fintech.

GOOGLE’S INTEREST IN FINTECH

Google’s interest in fintech has included multiple investments in collaborative finance platforms, making the search firm one of the most active investors in crowdfunding. But the firm’s interests span beyond the excitement of social investing — it’s also interested in putting its chips down on more core fintech bets, including trading, digital currency, ecommerce, and back office settlements.

 

google is one of the most active fintech investors

In fact, over the past 5 years, Google Ventures has been the most active fintech investor anywhere.

MOVING DEEPER INTO THE FINANCE INDUSTRY

Yesterday,  an industrial-grade communication tool developed and owned by a financial industry consortium, Symphony, announced that it had raised a new investment round totaling over $100 million.

Filling out the list of 21 finance and venture firms participating in the round was Google Ventures.

Symphony’s Wall Street backers are seeking to challenge communications and data firms including Bloomberg News parent Bloomberg LP and Thomson Reuters Corp.

Even Bloomberg News was cognizant of the fact that Symphony is competing head-head with the same messaging tools used on the Bloomberg terminal.

This investment adds to a warchest of another $66 million Symphony has raised previously. Roth Porat, CFO of Google’s parent company, Alphabet, was an early backer of Symphony in her role as CFO at Morgan Stanley. Re/Code had an early scoop last week that Google was in talks to back the communications technology company.

[x_share title=”Share this Post” facebook=”true” twitter=”true” linkedin=”true” email=”true”]

[x_author title=”About the Author”]

0 comments on “Google hears the fintech music, invests in Symphony”

Events, Uncategorized

New speakers announced for Tearsheet’s Resilience Conference

  • The Resilience Conference will celebrate the people, teams and companies successfully navigating through this crisis.
  • 3 new speakers have just been announced.
Tearsheet Editors | June 25, 2020
The Customer Effect, Uncategorized

Inside Yielders, the UK’s first regulatory compliant Islamic crowdfunding platform

  • Yielders, an equity-based crowdfunding platform for real estate, is the first Shariah-compliant financial technology company to get regulatory approval in the U.K.
  • The platform's user base is 35 percent non-Muslim, some of whom may be attracted to the ethical investing principles.
Suman Bhattacharyya | May 18, 2017
Sponsored, Uncategorized

FinTech is changing your life, and you don’t even know it

Brandeis University | May 01, 2017
Uncategorized

FinTech Week: By the numbers

  • Empire Startups' inaugural FinTech Week begins today in New York
  • In preparation for 25 forthcoming events over four days, here's a breakdown by the numbers.
Tanaya Macheel | April 24, 2017
Uncategorized

Hi 5! The top five fintech stories we’re following today

  • Retailers may be looking into the future as opposed to implementing for today.
  • Banks are working to get more people comfortable using mobile apps.
Zack Miller | February 06, 2017
More Articles