NEWS
IBS Journal November 2017
17
Global fintech investment rebounds to four-quarter high of $8.4bn
he fintech market has been quite sluggish over the last few quarters, however, quarter four has demonstrated a strong rebound in Q2’17, with investment more than doubling quarter over quarter to $8.4 billion.
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While the number of fintech deals remained well off the peaks experienced in 2015, deal volume remained healthy during Q2, with 293 transactions. VC investment in fintech remains strong, despite a slight decrease in Q2’17. This is according to a detailed new KPMG report into the health of fintec,
Global VC investment in fintech remained robust compared to all but two major outlier quarters (Q3’15 and Q2’16). Deal volume at the end of Q2’17 was also on track to approach 2016’s tally of over 1,000 deals, despite an ongoing slide in angel and seed- stage deal volume, which extended to a fifth-straight quarter.
The relative stability across other investment stages suggests
that while there may be some caution in the VC market globally, investors remain interested in tangible fintech opportunities.
Niels Turfboer, managing director of Spotcap UK and Benelux, told IBS Intelligence: “Fintech has taken the lead when it comes to show that Britain remains open for business. The combination of smart regulation, political support and an attractive talent pool has pulled in innovators and investors from across the globe. To maintain this momentum, it will be crucial for the ecosystem to be agile and respond to current needs, including continued access to talent, risk and identity management.”
“But most importantly to ensure longevity the aim of policymakers and industry should be on developing the sector so it maximises the opportunities and minimises risks for the UK economy. To achieve this, a focus should be put on creating customer choice. In the end that is what will drive growth, for fintechs and beyond.”
Bitcoin hits new all-time high, threatens to smash $6,000 barrier
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itcoin has experienced another surge in price as investors stack their coins before another impending hard fork.
The market value for Bitcoin spiked to an all-time high of $5,856, leading some to speculate that it won’t be too long until it smashes through the $6,000 barrier. At the time of writing the price stands at $5,624.
It is expected that the price will stabilise slightly as people make a profit on the new rises, before a rally up to the $6,000 mark occurs later this month. Exchanges in Japan are leading the charge, with 57% of Bitcoin’s exchange volume moving through yen-based sites.
Another hard fork – Segwit2x – is expected from Bitcoin in November, but analysts believe that since the cryptocurrency survived its first split earlier in the year, investors have become less worried about potential repercussions.
Some traders are jumping on the bandwagon ready for the split. When it does occur, and a new currency – Bitcoin Gold – is created, a number will receive a lump sum of the new cryptocash.
It seems that Russian prime minister Vladmir Putin has less influence than thought on the digital currency market. He commented earlier this week, saying that Bitcoin buyers could be involved in “unlawful activities”. There were fears it might affect the price, but these have proven unfounded.
JP Morgan Chase CEO Jamie Dimon might be eating his hat after labelling Bitcoin fraudulent in September. Dimon has told the media that he won’t speak about cryptocurrency anymore.
The market value of Bitcoin has surged to an all-time high
www.ibsintelligence.com
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