Category: Financial

Internet financial firms to dig choi won the $50 million B round of funding

on December 1, hunting cloud network news

cloud network editor jun hunting last month has just visited Internet financial firms to dig, dig money to hunt cloud network today, according to A $50 million B round of financing, the financing of new investors for broadband capital and cicc, A round of investors IDG, CDH, qiming, etc are made with cast.

dig money zhi-guo li, chairman of the board of the said after winning the finance will continue to increase in technology research and development, marketing, the focus of the financial product innovation research and development, etc. At the same time based on digging the wealth level of user data, dig money started planning to dig the user credit mechanism. Perfect the dig a rich user experience in product, maintain and enhance the target user penetration, at the same time to provide users with more convenience and security of financial management experience. Zhi-guo li also stressed in the next five years to dig its goal is to manage money for 100 million people, good fortune.

the data shows, dig money currently registered users breakthrough, financing scale as a supermarket sales of ten billion yuan. From last year to dig money after completion, architecture and model upgrade has been completed, and A + B three rounds of financing, accumulative total financing amount more than $80 million.

broadband capital: CBC broadband capital by Dr Edward tian was founded in 2006, is one of the most influential in the field of national TMT investment institutions. Its investment projects including century interconnection, the vision, the company impression notes, easy to transport and the baby tree, cica science and technology, new technology, the public comments on lang, friends first, second hand system of finance and economics, quality interaction, stay home, etc.

cicc JiaCheng: founded in 2007, is the only PE cicc’s platform. Is head of cicc company general manager Chen, ten management funds more than 16 billion yuan.

lucky pioneer park in hangzhou, dig goods company last month, zhi-guo li with hunting cloud network editor visited dig goods company, when it comes to the future development, zhi-guo li said that the Internet financial just goes up, the market has huge potential. Besides chairman of digging wealth, zhi-guo li has another identity, he was the originator of the amoeba capital.

 

Start-ups really don’t need a chief financial officer?

chief financial officer (CFO) plays an important role in the modern enterprise, the traditional experience that large company or listed company is only necessary to hire a senior CFO, and several other senior administrator for the company development strategy. However, in this paper, the author thinks that entrepreneurial firms may be better than a mature enterprise need the wisdom of the CFO. Have been slow to CFO start-up, is likely to miss the best development opportunity.

many startup founder and CEO at the beginning will not spend too much time to think to hire a chief financial officer. When it comes to enterprise’s financial problems, most founders are more likely to think of the current situation: I how much is the rate? My money can also maintain the company operation how long? Our annual revenue (ARR) is ideal? We also need to how much financing?

as a in the past ten years has sold entrepreneurs of the two companies, I really hope that according to my personal experience, when here to hire our chief financial officer (CFO) my opinions about this problem. Entrepreneurs usually can’t be in the first place to consider these complex financial problems, until they get some meaningful success – have launched the products system, good relations of cooperation, the future development of the enterprise to enter the international market as well as reliable and stable income growth – until they have to face the CFO this question, they will realize the importance of the CFO.

conformist equal circumscribed

so, what time should be set for the company’s chief financial officer of this position? Until recently, we still keep the old consistent attitude, think that before did not have any substantial profits, pay cost to hire a chief financial officer is not too much significance for start-ups. To be meaningful and what time? Or how to define the substantial profits? Based on past experience, annual revenue more than $100 million, or the founder and shareholders officially considered plan company public, or the great change of current assets, etc., if your company can achieve such a state, then it is time to consider hiring a rich experience of the financial director.

but the things always in transformation, constrained by the past experience and lessons of equal in the past. One of the most important one of the reasons is the responsibility of chief financial officer and the enterprise’s financial structure has different from the past. If you don’t realize this, so it’s hard to adapt to today’s market environment. As we can read almost every day, chief financial officers were laid off or fired the news, the most representative examples occurred in green pharmacy (the first big pharmacy chain) and the city of Detroit (2013 bankruptcy of the famous American cities). As a result of the traditional concept is deeply ingrained, the past companies “financial executives” situation in today’s situation is very difficult.

in the past, the company’s financial department’s main job is to track and report financial results, quarterly check and control the company’s financial expenses. Nowadays, however, companies hope that their financial department to share more of the risk and responsibility. A competent financial executives need to understand that the budget is not just a simple spreadsheet and budget, a perfect budget will also cover data, decision making, and human resources, etc. A competent financial executives need to cooperate with other departments, to create a new growth model for the company, adequate coping strategies for unknown situation, combined with business, will be the new scheme to bring new revenue opportunities for the purpose of the deployment of resources and investment plan etc. To take one recent example, a famous social networking site Twitter CFO Anthony Noto (Anthony Noto), he just took over the job last summer, he recently for Twitter released news new strategic products.

chief financial officers are changing, because modern companies like Twitter is a data oriented real-time environment. This requires that the financial work closely with other departments of the company, its core financial planning and analysis (FP& A) beyond the limits of single professional pure financial sector, and communicate these information directly to A line manager, because of their actions and decisions will directly affect the company’s revenue and expenditure, the more effective information is rich, the more precise their decisions. And all of these responsibilities, the area of responsibility of the financial officer more than ever, and more demanding on professional level. Therefore, it is imperative to conveniently change.

new order, new countermeasure

these changes also shows the company in the direction of financial talent strategy change. Unlike previous selected, when recruiting chief financial officer, your body, decrease the standard.

action as soon as possible. don’t wait until your company plans listed or significant other things are you going to plan when to set out to hire a senior financial experts to manage your finances. The result will not only make you waste at least a year to strategic planning, but also missed a crucial period of time. You can’t imagine you miss this year strategic plan, is likely to make your company in the next few years there were better benefits, and that only a few months time, you could have been used to determine the target market, your most valuable resource as well as the most significant investment for you. So, when you are in for the new customers, partners, business unit, and adjust the structure of your organization, distribution channels you may have missed the chance to be decisive. One more thing, the longer the delay, your CFO in the job at the same time as the challenges faced by the greater.

decrease the standard. entrepreneurs usually goes into a myth, that only experienced chief financial officer was able to run for the company to create a good financial system. (2013, chief financial officer of an average annual salary is generally above $200000, the number is not difficult to accept for entrepreneurship.) But in fact did not need to do so, you can let other have professional financial skills — such as your main meter long, vice President or chief financial officer – to the important duties of a company foundation structure. And you really need to look for is capable of data, decision-making and human resources of the special relationship between these three people.

is not only financial director level experts can be competent company plan, budget, and forecast the work, an intermediate financial experts to provide managers with the necessary data and analysis, to help them understand “hypothesis may be” data and take advantage of these predictions. For a long time, this kind of work is the responsibility of the finance department. Appropriate technology and have corresponding professional knowledge staff, coupled with the information provided by the internal resources and external customer feedback data, can acquire to promote comprehensive changes in the real-time information in enterprise management. Internal resources available from Salesforce.com, NetSuite or Marketo access these websites, and customer feedback information can be collected from Facebook or LinkedIn. Even supply chain or the forecast of these tiny updates can also be added to the real-time information changes.

every day, I can see those companies collect real-time information changes, though they have no intention of public offering at present (or hire a CFO). They didn’t well-paid chief financial officer, they just give the task safely to an understanding of data and personal contact between people – the people’s duty is to make everyone involved in the company’s financial plan. When eventually hired chief financial officer of time arrival, I can bet your new chief financial officer will sincerely thank you for your team, because than they used to take over the mess, your team showed them the structure of a perfect cooperation system, greatly reduce the workload after taking office. This strength enough to shake them to leave the previous company to join your business group.

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Financial sector “ctrip”, personal finance tools Credit Karma valuation of $1 billion

(/horse relief yi wen)

personal finance tools platform Credit Karma has won another round of up to $75 million in financing, valuations in excess of $1 billion. The business model of Credit Karma can simply compared to “ctrip” in the field of finance in the Internet.

and the current P2P or choose loan service providers, Credit Karma is the main business for the user “shop around”, provide full and abundant information, so that the user to select the most suitable for their own financial planning project. CEO of Credit Karma points out that we are like the financial sector of online travel sites, can provide users with the daily life of the best solution. In addition, it also provides users with the situation of fund investment in the whole data tracking, for different users, especially the layman, providing scientific and simple investment programs.

Credit Karma without difficulty is a greater choice of the mode of user charge forward, but chose the cooperation with financial institutions into profit model. User through Credit Karma bought one financial institutions of financial products, then it will obtain certain “recommended” earnings.

Credit Karma was founded in 2008, the company announced with 32 million users, and there are many large Banks and Internet financial institutions established a cooperative relationship. So far, Credit Karma totaling nearly $200 million in financing, capital, tiger funds, investors including Google Susquehanna Growth Equity, etc.

 

Financial full digital: from “FenRun bank” to “replace the bank”

financial services will no longer be mysterious for ordinary people. Users familiar with the degree of financial services is higher and higher, can say that these services have reached the edge of an explosion. Is honoured by financial services more and more simple reason is that our world is becoming more and more digital. Underpinnings of the financial services industry was once a very comfortable, there is the innovative financial institutions broke the situation of the industry. And this is because they appear to make the financial services industry is more and more ground.

now, for the Internet style stage to a large extent impact on the financial services industry, in the years to come, it will fundamentally change the way of ordinary people to buy and consumer finance products. Changes in these industries will only promote the progress of the industry, bring more innovation for the entire financial industry. And be able to give us a better products and better services, the focus is on while we enjoy these services, costs will be lower than now.

customers no longer superstitious financial giant

to a large extent influenced by the financial crisis of 2008, as a regulator before that becomes the main obstacle for admittance into industries and after the impact of the financial crisis, the bank’s trust than ever before. Especially when it comes to the need to protect consumers from regulators new risks, the situation is especially obvious. The regulatory environment also changed at the same time, such as the United States launched the employment Act (JOBS) Act and the UK’s financial services regulatory restructuring, business is easier to set up the new financial innovation. This means that in the very great degree with those big, reaction is not very quickly compared to their advantage of such a small financial institutions has a faster pace of innovation.

these innovative development and widespread public awareness of large financial institutions gradually awake, make consumers are more likely to try new financial service providers. It is interesting to note that these small innovative financial services and founder of developers is the former employees of some large financial institutions. They have been working in these large financial institutions, with the aid of the understanding of financial products and practices, they can quickly copy the financial products and its simplified into emerging digital world.

currency also in development in the direction of digital

early attempts to financial digital mainly concentrated in the field of mobile payment, etc, such as Square or Braintree. But now, the startup of the focus of attention is off to a second wave of new creative destruction, focusing on the areas including transfer (Dwolla, TransferWise), foreign exchange (CurrencyCloud), savings accounts (Simple), and even car insurance industry (MetroMile) also had a lot of attention.

a trend of change has been deep into the bank’s core region, including financing (AngelList), peer-to-peer Lending (Prosper, Lending Club), the (Kickstarter, Indiegogo, Fundly), and raise investment advice service automatically from fund management to the neutral (Personal Capital). Traditional banking financial services such as these are now has appeared in the field of the innovation enterprise.

especially in the field of digital currency, this area has acquired great traction. Such as COINS, a kind of virtual currency, although said there have been for many years, but has been in a state of obscurity. Recently, how hot it has taken on a rapidly rising trend. Whether or not the currency will be the king of the encryption of monetary the crown has been maintained, it has been supported by more than 80 kinds of service, therefore, digital currency position not to be shaken, it will be more and more stable.

however, in this business, for some new explorers all can not see the “rainbow” of success. For Mt. Bigger bankruptcy collapse of the us is still fresh. Hackers malicious attacks led to the value as high as 460 million yuan currency losses, COINS in it for the first time the scandal has suffered losses. But this loss is also is not all negative. This event indicates that needs further standardization development in the field of digital currency. After all, in the field of the industry has so many users and financial service providers.

traditional financial institutions are old

digital currency as the main unified elements of the financial industry, the destruction of it makes the financial industry, the third wave of reform is approaching. Financial institutions in the reform of misfortune is squeezed out. Although many Banks have realized digital services is their future, is very important for them, but their actions are mostly very slowly, under the impact of the extremely strong could not have a foothold, particularly in the field of mobile.

in view of the traditional banking business is a kind of reliable, exists in the form of mediation between savings and the lender. Such a role is what defines them provides the basic positioning of the service for consumers. If the digital currency can eliminate this role, so said digital currency has fully mature. If the day comes, everything will change.

successful digital currency will be able to transfer between organizations everywhere in the world, which don’t need intermediary bank or payment processors, and without the relevant fees, such a digital currency can only be called a successful digital currency. These convenient service is also based on a kind of new technology, called block chain can provide all the transactions in the entire network as a public general ledger. This new function is the key to the new business.

revolution cannot stop, please summon up courage to embrace change

chaos in the financial services market means a major change is about to break out of it, this means a very big change for consumers and businesses. Financial institutions pay close attention to these changes at the same time, also need to pay attention to law change the necessary details. However, the traditional financial institutions also need to should try these new services in the early days, as soon as possible to understand the existing service, timely find whether they can give necessary financial needs a good solution.

business leaders need to embrace this change, may be this kind of situation looks very small in the beginning. But a single spark can start a prairie fire, banking institutions by controlling the relatively simple financial services, created billions of profits, these simple financial services can now be some startups easily copied, and copy the cost is very low. With the decrease the threshold of the service, will be a more efficient and convenient financial system for the use of the broad masses of users, in addition to the new financial system is not only unnecessary fees and completely cumbersome steps, and, more importantly, it can also bring us don’t even know our own new features but it is very necessary.

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