Fintech, Finance, Technology, Banking Highlights – 9 May 2018

Simplesurance raises $24 million in Series C funding

Berlin-based startup simplesurance, a leader in the InsurTech industry developing an insurance service platform, receives 24 Million Dollars in the final Series-C Round.

Rheingau Founders, Rakuten Capital, the investment arm of Rakuten, Inc., and Allianz X have announced further investment. Lead investor is Allianz, who has started a financial and strategic partnership in 2016.

“We are excited about Allianz X’s follow-on investment into simplesurance,” said Dr. Nazim Cetin, CEO of Allianz X. “We have developed a great partnership and look forward to continuing the partnership and cooperation with simplesurance.”

This is the largest funding round since simplesurance’s founding in 2012 and will go towards expansion into new markets with Japan as a possible first target. Funding will also support the launch of new services like Cyber Protection, later this year.

The InsurTech industry has seen tremendous growth during the past year with simplesurance among the leaders in Europe.

“After six years, simplesurance is on the right track and we’re showing steady growth”, says simplesurance founder Robin von Hein proudly. “This additional investment will strengthen our competitive position as a leading insurance service provider around the world and facilitate expansion into new markets.”

“simplesurance has developed innovative solutions in both e-commerce and product insurance and has grown into one of the leaders in InsurTech”, said Michael Piechalak, Principal at Rakuten Capital. “As Rakuten Capital is focused on working collaboratively with our portfolio companies on building long-term growth strategies, we are excited to be part of their future journey.”

WH Trading selects QuantHouse for global market access

QuantHouse, the leading independent global provider of end-to-end systematic trading solutions including innovative market data services, algo trading platform and infrastructure solutions, announced that WH Trading, the leading global proprietary trading firm, has selected QuantHouse in order to leverage the QuantLINK and QuantFEED suite of advanced solutions.

WH Trading, the Chicago-based firm, trading the futures and options market across the US, Europe and Asian markets, is using QuantLINK, QuantHouse’s ultra-low latency, fully redundant 40G network to enable market access and delivery of market data at low latency speeds. The connectivity performance of the QuantLINK network is continually expanded upon to ensure the latest and fastest routes are available with new exchanges and alternative trading venues being constantly added to ensure that firms have access to the most extensive range of venues to enhance their trading strategies. QuantFEED handles all the upgrades and updates to ensure optimum connectivity routing to required markets at the lowest possible latency.

Salloum Abousaleh, Managing Director Americas, QuantHouse, said, “WH Trading is one of the largest market makers trading on the global markets. They have also led the field in terms of using only the latest and most advanced technology, whether built in-house or outsourced to third parties. We are therefore delighted to have been selected by WH Trading to handle some of their most critical applications,” Salloum continues, “We are seeing increasing demand for quantitative trading tools not only with innovative proprietary trading firms, but also with alternative investments, Hedge Funds, CTAs and asset managers looking to follow in the footsteps of firms such as WH Trading.”

Citi announces six Open Api partnerships in Hong Kong

Citi announces six strategic partnerships with leading corporations in Hong Kong to accelerate the development of open Application Programming Interface (API) in the city and to make available easy and speedy banking services in response to consumers’ increasingly digital lifestyle.

By making use of Citi’s Open API technology in different categories covering Cards, Customers, Money Movement, Onboarding, and Pay with Points, one of the new services has already been launched, while the others will be rolled out in phases in the coming year:

Officiating at today’s ceremony today were Mr. Paul Jung, Head of Products, Northeast Asia, Visa; Ms. Kathy Wong, Head of Travel, Zurich Insurance (Hong Kong); Mr. Ricky Wong, Chairman, Hong Kong Television Network Limited; Mr. Howard Lee, Deputy Chief Executive of the Hong Kong Monetary Authority; Ms. Angel Ng, Citi Country Officer, Hong Kong and Macau; Ms. Pauline Teoh, Chief Partnership Distribution Officer, AIA International Limited; Mr. Sunny Cheung, Chief Executive Officer, Octopus Cards Limited; Ms. Patricia Lee, Executive Director, EGL Tours.