An expert group was tasked with reviewing the application and suitability of the existing EU legal and regulatory framework when applied to fintech.

The group, known as the Expert Group on Regulatory Obstacles to Financial Innovation, was tasked with reviewing the application and suitability of the legal and regulatory framework in the field of fintech.

Another recommendation of the group is that an updated regulatory framework is put in place to leverage the benefits of fintech, while remaining focused on consumer protection, market integrity and the stability of the EU financial system.

Risks associated with AIThe report also outlined that while AI can bring significant efficiency gains to financial services, it also carries some specific risks.

In a statement, the group said: “As with other areas of regulation, efficiency gains and associated risks are two sides of the same coin. | To read full story, visit https://startuparound.com/read/1576256406.69764/The-main-points-from-a-major-EU-report-on-fintech-regulation?ref=audio_experience

Montréal-based FinTech company Nuvei has raised $358 million CAD ($270 million USD) in common equity financing.

Following the raise, the company is now valued at $2.65 billion CAD ($2 billion USD).

In August, Nuvei, with support from CDPQ, acquired UK-based SafeCharge International Group for about $1.1 billion CAD.

Formerly Pivotal Payments, the company received one of its first large investments from Goldman Sachs totalling $60 million CAD in the mid-2000s.

During the funding rounds, the two firms valued the company at $525 million CAD ($424 million USD). | To read full story, visit https://startuparound.com/read/1576254608.1727052/Montréal’s-Nuvei-raises-$358-million-CAD,-reaches-$2.65-billion-CAD-valuation?ref=audio_experience

Tweet SANTA CLARA, CA, LeanTaaS has closed a $40 million Series C3 round of financing from Goldman Sachs' Merchant Banking Division.

"LeanTaaS' iQueue represents a rare nexus of product leadership, robust ROI, and fast time to value for hospitals.

The financing will fund the continued expansion of the LeanTaaS iQueue platform, which currently consists of three solutions: iQueue for Infusion Centers, iQueue for Operating Rooms and iQueue for Clinics.

About Goldman Sachs Merchant Banking DivisionFounded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm.

Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm's long-term principal investing activity. | To read full story, visit https://startuparound.com/read/1576252815.6309927/LeanTaaS-Secures-$40M-in-Series-C-3?ref=audio_experience

Reliance Industries on Friday said its wholly-owned subsidiary Reliance Strategic Business Ventures Ltd (RSBVL) has acquired over 51 percent stake in Asteria Aerospace for Rs 23.12 crore.

"RSBVL has acquired equity shares of Asteria Aerospace for a cash consideration of Rs 23,12,49,584.

The said investment represents 51.78 percent holding in the equity share capital of Asteria," Reliance Industries Ltd (RIL) said in a BSE filing.

An early-stage company, Asteria had a turnover of Rs 1.96 crore in 2018-19.

Reliance acquired equity shares of NowFloats for a cash consideration of Rs 141 crore (approx). | To read full story, visit https://startuparound.com/read/1576251124.3104029/RIL-arm-acquires-51.78-pc-stake-in-Asteria-Aerospace-for-Rs-23.12-Cr?ref=audio_experience

Brussels-based startup Cowboy, the design-driven electric bike company, has today announced surpassing its €1.4 million crowdfunding campaign target in just 12 minutes, raising a total of €3.2 million.

Cowboy’s 47,500 community of registered users and private investors were invited to invest, attaining further support from existing investor Index Ventures.

The crowdfunding campaign is now open to the public; from today until 10 January 2020 individuals have the opportunity to invest as little as €20 in Cowboy.

The funding will be used to accelerate its growth and fulfill its goal of transforming global urban mobility with its connected and intuitive e-bikes.

Crowdcube looks forward to enabling supporters around Europe and globally over the next 30 days to champion Cowboy’s mission to scale.” | To read full story, visit https://startuparound.com/read/1576247429.2273624/Cowboy,-electric-bike-startup,-smashes-crowdfunding-target?ref=audio_experience

Launched in January 2018, Zomato Gold let diners avail free drinks or food when dining out or an INR 300 discount on delivery orders.

Additionally, Zomato has also added discounts that can be booked through the app without ‘unlocking’ Gold at the restaurant.

Zomato Gold was a sensational hit among consumers who happily paid for quarterly and annual memberships.

Zomato was aggressive in bringing popular restaurant chains and pubs onboard Gold, and this saw over 1.4 million users subscribe to Gold globally.

Restaurants said Gold forced customers to hunt for discounts, which often results in margins taking a hit. | To read full story, visit https://startuparound.com/read/1576245736.3542356/The-Dark-Side-Of-Discounts:-Lessons-From-Zomato-Gold-For-India’s-Food-Startups?ref=audio_experience

This post is also available in: Español (Spanish)Contxto – Like a blockchain diplomatic mission, the Bitcoin Association recently appointed a triad of new Latin American ambassadors to lead operations and promote adoption in their respective countries.

While certain nations grapple with economic woes and financial uncertainty, the objective is to raise awareness about Bitcoin (BSV) to the general populace.

“With such tangible growth on the BSV blockchain, the Bitcoin Association is taking a more micro focus for adoption,” said Founding President of the Bitcoin Association, Jimmy Nguyen.

His plan is to work closely with developers to showcase the incentives behind crypto adoption.

María Eugenia López (Argentina)Not only does López work as a Senior UX (User Experience) Designer at Money Button but she’s also a professor. | To read full story, visit https://startuparound.com/read/1576243816.7043433/Bitcoin-Association-appoints-new-ambassadors-from-Brazil,-Argentina,-and-Panama?ref=audio_experience

Winning is Easy!

Complete this survey today and enter your name for a chance to win a $100 gift card. | To read full story, visit https://startuparound.com/read/1576242022.767416/If-You-Can’t-Fix-It,-Feature-It?ref=audio_experience

Germany’s Delivery Hero has agreed to buy its South Korean rival top food delivery app operator Woowa Brothers for US $ 4 billion and form a joint venture.

Woowa Brothers was established in South Korea in 2010 as a food delivery firm.

Delivery Hero operates in over 40 countries in Europe, Asia, Latin America and the Middle East and partners with over 250,000 restaurants.

South Korea, with a dense population and a high smartphone penetration rate, has a booming online food delivery market.

Delivery Hero has had a history of acquisitions in various countries, including UK, Sweden, Turkey, Greece and Bolivia. | To read full story, visit https://startuparound.com/read/1576240277.208153/Delivery-Hero-To-Buy-South-Korea’s-Woowa-for-$4-Billion?ref=audio_experience

Bluespace.ai, a new autonomous driving startup focused on mass transit, announced today that it has raised $3.5 million in seed funding led by Fusion Fund.

Other investors include YouTube co-founder Steve Chen; UMC, the Taiwanese semiconductor foundry; Kakao Ventures; GDP Ventures; Atinum; Wasabi Ventures; Blue Ivy Ventures; Plug n Play; and SLV Capital.

The startup develops software systems for autonomous mass transit fleets and is currently in meetings with cities and transit providers.

Bluespace.ai’s team also has people who have worked at AV companies like Zoox, Lyft Level 5 and Voyage.

Their combined experience includes launching AV fleets in Texas, California and Florida. | To read full story, visit https://startuparound.com/read/1576238408.3567414/Bluespace.ai,-a-startup-focused-on-AV-technology-for-mass-transit,-gets-$3.5-million-in-seed-funding-–-TechCrunch?ref=audio_experience