Weekly Online Lending Snapshot – March 02, 2018
This week, the new chairman of the U.S. Federal Reserve (Fed), Jerome Powell testified before the Committee on Financial Services, presenting the Fed’s semiannual monetary policy report for the first time. That got us thinking about inflation and prompted a quick scan of recent headlines. We found the following articles worth a read: Throwing In The Powell: New Fed Chair Helps Sink Stocks With Inflation Talk, Why an Unpleasant Inflation Surprise Could Be Coming, Eurozone inflation falls again despite decade-high growth, and Forget inflation — worry about what happens when this ‘Goldilocks’ era ends, says Ray Dalio.
In other news, Hong Kong’s Securities and Futures Commission (SFC) and Switzerland’s Financial Market Supervisory Authority (Finma), announced an agreement to cooperate on fintech initiatives. In the U.K., it was reported that NatWest is launching four fintech accelerators based in Bristol, Edinburgh, London, and Manchester. They are partnering with Dell EMC to offer technology reviews and sales strategy analysis to support startups that join. Isreal-based fintech startup Pagaya Investments announced that it raised $75 million in debt financing from Citi. It was reported that small business working capital provider C2FO raised $100 million from Allianz X and Mubadala Investment Company, while existing backers Temasek, Union Square Ventures and Mithril Capital also participated. Credy, an online lender for small-ticket, personal loans and school fee financing loans reportedly raised $1.4 million in Seed funding from investors including Y Combinator, Khosla Ventures, Vy Capital, and others. Lastly, S&P Global announced that it acquired Panjiva, Inc. (Panjiva), a data and analytics provider focused on global supply chains.