FinTech News

Ant Group’s Massive, Suspended IPO May Not Be Revived Until 2022

The chances that Jack Ma’s Ant Group Co. will be able to revive its massive stock listing next year are looking increasingly slim as China overhauls rules governing the fintech industry, according to regulatory officials familiar with the matter. Ant …

Established Insurers Could See Market Share Squeezed by Fintechs, EU Says

Established insurers will face a squeeze on profits and market share as new financial technology companies muscle in on the industry, a senior European Union official said on Wednesday. More fintech firms are expected to offer insurance, helped by the …

China’s Shock Suspension of Ant Group’s Listing Set to Hit Business Valuation, Growth

China’s surprise suspension of Ant Group’s record $37 billion listing is likely to delay rather than destroy its chances of a stock market debut though the financial technology giant’s valuation and growth prospects are set to take a hit. The …

Update: China Suspends Ant Group’s $37 Billion IPO

HONG KONG/NEW YORK — China suspended Ant Group’s $37 billion listing on Tuesday, thwarting the world’s largest stock market debut with just days to go in a dramatic blow to the financial technology firm founded by billionaire Jack Ma. The …

Retail Investors Placed Bids for Record $3 Trillion of Shares in Ant Group’s IPO

Retail investors placed bids for a record $3 trillion of shares in Ant Group Co. Ltd.’s dual listing in an unprecedented show of interest by mom-and-pop savers betting on demand for its financial services in China. The total value of …

Ant Group Is About to Shatter IPO Records. Here’s Why.

HONG KONG – Stella Su, who lives and works in Shanghai, has used an ATM only once in the past year. Instead of cash, in recent years she has done almost all her business using the digital wallet Alipay — …

CFC to Expand Coverage to FinTechs with Package Policy

CFC, a specialist insurance provider of emerging risks, has expanded its suite of products for financial institutions with the launch of a new product built specifically to cover the risks faced by organizations operating in the fintech space. According to …

Analysis: Fintech Funding Slides as Coronavirus Casts a Chill with Venture Capitalists

Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it’s a tough time to be seeking up to 15 million pounds ($19 million) for a start-up. “It’s definitely a bearish market” said Chakravarty, who is seeking funding …

SoftBank-Backed Indian Fintech Startup Seeks IPO Valuation of More Than $3.5B

Online insurance platform Policybazaar aims to go public in 2021 at a valuation north of $3.5 billion, potentially becoming the first of India’s mega-startups to debut as its digital economy booms. The startup plans to secure about $250 million in …

Allianz Ends Relationship with Wirecard Amid Accounting Scandal

Allianz said on Wednesday that it was ending its relationship with Wirecard Bank and removing from the market a mobile payment app that the two companies had developed. The move is further fallout in corporate Germany amid an accounting scandal …