Sector Updates

As hype continues to build around the potential for startups to disrupt the insurance space Eos Venture Partners is launching as specialised fund dedicated to finding opportunities in InsurTech.

Payments provider Stripe is broadening its appeal to developers with the acquisition of node prototyping service Tonic. The financial terms of the deal are undisclosed but Tonic is rebranding to Runkit.

Alibaba FinTech subsidiary Ant Financial is boosting its biometric capabilities through the acquisition of Kansas City-based EyeVerify.

Real estate financing startup Point has raised $8.4m in a Series A round of funding led by Andreessen Horowitz.

Automated and algorithm-based wealth management is making an increasing impact on traditional wealth management.

Indonesian financial services comparison site Cermati has raised $1.9m in its Series A round. The investment was led by East ventures with existing backer Beenos Partners also participating.

RealtyShares has secured a $30m credit line to pre-fund properties listed on its real estate crowdfunding marketplace.

Swedish payments startup Klarna is inking a deal with UK retail conglomerate Arcadia to bring a “buy now pay later” offering to its e-commerce channels.

New York InsurTech startup Oscar is hiring Shaden Marzouk as its new chief medical officer. A neurosurgeon and US army veteran, Marzouk will replace Aran Ron in the role.

Australian payments and finance app zipMoney is acquiring personal finance management app Pocketbook for $7.5m.