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Digital Car Insurer Metromile To Go Public Through Merger With INSU II

PYMNTS

The combined company, to be led by Metromile CEO Dan Preston , will have a pro forma market capitalization of approximately $1.3 Investors Social Capital, Hudson Structured Capital Management, Miller Value, Clearbridge and Mark Cuban have committed to investing $160 million through a private placement of INSU II Class A common shares.

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Community Banks Debut FinTech Alliance

PYMNTS

Alloy’s Julieann Thurlow, CEO of Reading Cooperative Bank, said, “Community banks play a special role in the lives of our customers, but we don’t have the same IT and innovation budgets as the big banks to capitalize on that relationship.” The alliance includes a dozen firms that have between $251 million to $20 billion in assets.

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New Digital Experiences Keep Credit Unions Relevant – And Then Some

PYMNTS

Like their cousins in banking, credit unions (CUs) long enjoyed a relaxed pace of technological change. Arizona-based FI consulting firm Cornerstone Advisors noted that just three major banks have 47 percent of the accounting and payment services sector’s $11 billion.”. It was all on their timetable. Not anymore.

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B2B Payments Processor APS Payments Acquired By Repay

PYMNTS

APS, based in Arizona, targets B2B payments by offering payment processing that integrates directly into corporate enterprise resource management (ERP) platforms. In addition, APS provides us with end-market diversification and organic growth opportunities, which we believe will help drive shareholder value,” he said. “We

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Builders Counting On Toronto Housing Recovery

PYMNTS

Toronto’s population may be flat, but that hasn’t stopped the region’s developers from building apartments in the country’s financial capital at near record levels. An infusion of immigrants, international students and growth in the finance and technology sectors have spurred a 10-year building boom.

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Nuro Raises $940M From SoftBank For Robotic Delivery

PYMNTS

Nuro, the robotics company operating in the commerce market, announced on Monday (Feb. In a press release , the company said that to date, it has raised more than $1 billion from SoftBank, Greylock Partners and Gaorong Capital. 11) that it has raised $940 million in financing from the SoftBank Vision Fund.

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The Bank Legacy Is Dead: Long Live the Fintech Collision

Gonzobanker

It’s been a long two years since bankers and investment bankers nationwide made their annual pilgrimage to the Arizona desert for the Acquire or Be Acquired conference – and ohhh man, a completely different world has emerged since the January 2020 get-together! An arms race in marketing and digital cannot be ignored.

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