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Market Overview

Fintech Focus For February 10, 2021

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Quote To Start The Day: The question isn’t who is doing to let me, it’s who is going to stop me.

Source: Ayn Rand

One Big Thing In Fintech: In January 2021, FinTech startups worldwide raised VC/PE investments worth $7.8 billion across 294 deals.

In terms of MoM growth, there was a 37.4% increase from the $5.72 billion raised by FinTechs in VC funding in December 2020.

FinTech funding deals increased from 278 in December 2020 to 294 in January 2021, registering a 5.7% growth (MoM).

Source: MEDICI

Other Key Fintech Developments:

  • HKEX appoints CEO from JPMorgan.
  • Spreedly, Visa looking to tokenization.
  • ION to acquire DASH Financial Tech.
  • Credorax, Payrexx team on payments.
  • Robinhood faces wrongful death suit.
  • PEAK6 naming new fintech directors.
  • Fintech launching salary-advance tool.
  • Finch Capital launching fintech funds.
  • Shopify expands its Shop Pay options.
  • Core Scientific, Hewlett Packard team.
  • Nasdaq debuts the Crypto Index ETF.
  • 280 CapMarkets on best bond prices.
  • First New York chooses Eventus tech.
  • NatWest automating trade workflows.
  • Cleareye.ai joins forces with Microsoft.
  • Cboe EDGX introducing early trading.
  • SGX, Trumid, Hillhouse team on tech.

Watch Out For This: A World Health Organization investigation in China found that the coronavirus most likely jumped to humans through an animal or frozen wildlife products, and a theory that it resulted from a laboratory leak is “extremely unlikely.”

Source: Bloomberg

Interesting Reads:

  • Major trends redefining supply chains.
  • Report finds toxic metals in baby food.
  • TikTok celebrities reviving of Sillybandz.
  • ClubLink offers better Clubhouse links.
  • Reddit raised $250M in Series E round.
  • Boeing lied after its 737 MAX crashes.
  • Senate votes for Trump impeachment.
  • Banks planning to move from London?

Market Moving Headline: When you have such an extreme infusion of liquidity and fiscal stimulus globally in any market, you’re going to create a situation where, with rates at zero, capital is looking for investments and you’re going to have some overvaluations in certain assets. It’s not just about the growth stocks that did very well through Covid, but also value has broken out. Now there are, with very few exceptions, no sectors that are cheap.

I think the market will gradually grind up during the year. I don’t see a correction anytime soon, unless the situation changes dramatically.

Source: Daniel Pinto

 

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