Yahoo Finance launches social savings app Tanda, an alternative to credit cards

 Yahoo Finance today launched a new app called Tanda that allows small groups of either five or nine people to save money together for short-term goals. The app uses the concept of a “money pool” – that is, everyone participating in one Tanda’s collaborative savings circles will pay a fixed amount to the group’s savings pot every month. And every month, one member… Read More

SEC cools traders’ hot plans for cryptocurrency-based exchange traded funds

 The U.S. Securities and Exchange Commission has serious concerns about the securities industry’s plans to create exchange traded funds around cryptocurrency.
In a strongly worded letter to the heads of the Securities Industry and Financial Markets Association and the Investment Company Institute, the director of the division of investment management, Dalia Blass said that there were… Read More

Varo Money raises $45 million for mobile banking without fees

 There are a number of startups looking to disrupt traditional banking. We’ve covered Chime, Zero and Jiko, just to name a few.
Another one of those is Varo Money and they’ve raised $45 million led by private equity giant, Warburg Pincus and The Rise Fund, a global impact fund that’s part of another private equity firm, TPG. (That’s the one U2’s Bono is involved… Read More

Uber’s big SoftBank deal has officially closed

 SoftBank’s $1.2 billion primary direct investment deal has officially closed, according to Uber itself, which confirmed the deal closure and provided the following statement to TechCrunch via a spokesperson:
We’re proud to have SoftBank, Dragoneer and the entire consortium in the Uber family. This is a great outcome for our shareholders, employees and customers, strengthening… Read More

Revolut launches geolocation-powered travel insurance

 Fintech startup Revolut is launching international medical and dental insurance. You can subscribe using the company’s app for £1 per day or more depending on the options. But the best part is that you can set it up and forget about it as Revolut uses your device’s location data to automatically turn insurance coverage on and off. By default, insurance coverage costs £1 per day… Read More

Researchers find that one person likely drove Bitcoin from $150 to $1,000

 Researchers Neil Gandal, JT Hamrick, Tyler Moore, and Tali Oberman have written a fascinating paper on Bitcoin price manipulation. Entitled “Price Manipulation in the Bitcoin Ecosystem” and appearing in the recent issue of the Journal of Monetary Economics the paper describes to what degree the Bitcoin ecosystem is controlled by bad actors. To many it’s been obvious that… Read More

The state of Israel’s cybersecurity market

 The Equifax breach, WannaCry, NotPetya, the NSA leak, and many more cyber incidents – 2017 was certainly a busy year for hackers, illustrating yet again just how vital innovative cybersecurity solutions are in the fight against cyber threats.
Second only to the U.S., in terms of cybersecurity investment 2017 was another excellent year for Israeli cybersecurity startups, with dozens of… Read More

US & Canada VCs favor late-stage giants over upstarts in Q4

 Startup investors in the U.S. and Canada have been putting a little less money to work across a lot fewer deals in recent months. After three quarters of rising investment at early through growth stage, VCs have cut back in the fourth quarter of 2017. We look at some of the key data points for the just-ended quarter and year, including early and late-stage funding, round counts, M&A and IPOs. Read More