Financial

Brazil's innovation capital ecosystem is developing at a rapid pace.

Santander's financial technology investment unit has backed startups including Kabbage, Ripple and Cyanogen, and doubled its size to $200m in July.

Liberty Mutual, Intact, USAA and Fidelity have contributed to a $20m series C round for Snapsheet, the developer of a virtual claims platform for drivers.

Subsidiaries of SBI Holdings, Mizuho Bank, Development Bank of Japan and Sumitomo Mitsui Financial Group took part in the robo advisor developer's latest round.

Morningstar's acquisition of portfolio company Pitchbook has shown the worth of the capital markets data segment to players such as Thomson Reuters and Dow Jones.

Accenture and the Irish government agency have extended an invitation for startups to join the third batch of its Fintech Innovation Lab.

The investment research firm, which had invested $11.2m to build a 20% stake in deal data provider Pitchbook, will pay $180m to fully acquire the company.

Discovery Communications' $100m investment in newly formed digital media holding company Group Nine Media is part of a trend in consolidation as online media moves further toward video.

JPMorgan Chase, Icap and Barclays have taken part in a $30m funding for Cloud9 Technologies, a cloud-based communication platform targeting the financial sector.

The university has launched its accelerator through the King's Entrepreneurship Institute, which will support 20 startups over the next 12 months.