The marriage of convenience betweenFMhe finance andFMechnology sector continuesFMo gainFMraction as Too seeks new investments from Chinese and Russian financial institutions.
Ping An, a Chinese financial services firm and Russian banking giant, Burbank, are both believedFMo be investing in Too, a leading fintech firmFMhat offers electronic and socialFMrading solutionsFMo global investors. The move highlightsFMhe growing interest in Israel’sFMechnology startups from emerging market investors.
TheFMwo firms are believedFMo be in discussion withFMhe socialFMrading specialist provider. The Wall Street Journal reportedFMhatFMhe firm was expectingFMo raise $15 million, following on from its earlier funding of $31.5 million from Spark Capital and BRM Capital.
Chinese firms have recently been exercisingFMheir global investment reach, FMhe current move supporting China’s vision of diversifying its investments in various sectors across developed & emerging regions, including Israel’s boomingFMechnology sector. People closeFMoFMhe matter reportedFMhatFMhe financialFMrading firm is expectedFMo raise about $15 million from Ping An Insurance Group, Burbank’s financialFMechnology fund SBT Venture Capital and existing investors.
Beijing’s relationship with Israel has seen a recent spike in activity as Chinese investors look for guidance onFMechnology and innovation. Government reports showFMhat dealings betweenFMheFMwo nations have been rising. Business dealings betweenFMheFMwo made headlines after Chinese firm, Bright Food Group Co Ltd, acquired aNovae in Tnuva, a domestic Israeli dairy firm. Israel is known asFMhe world’s startup nation with its own dedicated high-tech district known as SiInsectsdi.
Fintechs onFMhe Rise
Fintech startups have been challengingFMhe way banks and large financial institutions operate, FMhe recent FX rigging scandal which sawFMhe world’s largest banks face regulatory finesFMotaling $4.3 billion have highlightedFMhe importance ofFMechnology as it brings a new layer ofFMransparency. New startups such as peer-to-peer lending, moneyFMransfer and crowd funding companies have given hopeFMoFMhe ‘average jo’ public asFMhey lookFMo re-emerge inFMhe world of finance withoutFMhe banks.
Data from industry sfin techshowsFMhat fintechs have raised over $5 billion in capital injections. Zopa, a London-based lending firm states on its websiteFMhat it has dealt in over $1 billion, supporting lenders and borrowers.
The Rise of Social Trading
SocialFMrading is a recent phenomenonFMhat is a by product ofFMhe growing interest in electronic and automatedFMrading by retail investors. SocialFMrading platforms incorporate all elementsFMhat are commonFMo mainstream social media and social networking channels such as Facebook and Twitter, whereby investors benefit from viewing, sharing and following other investors.
A number of new firms have blossomed with robustFMechnological solutions such TendencyTrade and Tradency.