The Startups: Who’s shaking things up (Week ending March 6, 2016)
[alert type=yellow ]Every week, Tradestreaming highlights startups in the news, making things happen. The following is just part of this week's news roundup. You can get these updates delivered direct to your inbox by signing up for the Tradestreaming newsletters.[/alert]
Startups raising/Investors investingEuropean p2p lender, Auxmoney raises Series D from Seven Ventures (p2p banking) Seven Ventures along with Index Ventures, Union Square Ventures and Foundation Capital invested a double digit million Euro amount. Seven Ventures is the investment arm of ProSiebenSat.1 Media SE, which operates large TV channels in Germany. Auxmoney trippled loan volume in 2015 compared to 2014. As of January 31st, 2016, according to numbers on file with P2P-Banking.com, the company had originated 441 million EUR in loans since launch, with a monthly loan origination volume of 10.6M for the last month on file (January 2016). Blockchain-powered loyalty and rewards co, Ribbit.me raises $1.5m (Finextra) Ribbit.me has built the a universal platform for the loyalty and rewards industry using blockchain and smart contract technology. Currently, program operators such as airlines or hotels, are faced with high operational costs and outdated processes, resulting in a poor customer experience. Fintech investor: Entrepreneurs need to "smell the weeds" (Fintech Junkie) QED Investors Frank Rotman explains why certain innovations within finance need to come from people with a deep, deep understanding of the pain points in the industry.
At 50,000 feet you can’t spot a weed in a garden. At 500 feet you might be able to identify that there are weeds in the garden. When you’re on your hands and knees crawling in the garden you can identify every type of weed and one-by-one pick them, pull them or (gasp) even smell them.