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Millennial-Focused Digital Bank Empower Finance Raises $20M

PYMNTS

San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. The company, which was founded in 2017, is run by a former Sequoia Capital partner named Warren Hogarth.

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Chinese Millennials May Save Luxury Brands

PYMNTS

Sales of luxury goods in China are skyrocketing — up around 20 percent from 2016 — in its sharpest growth since 2011, as Chinese millennials seek products like handbags and cosmetics, Reuters reported. 2017 saw a global recovery of the luxury retail market due to their affinity for high-end brands.

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Baby Boomers Vs. Millennials: Home Renovations Edition

PYMNTS

Recently Harvard University’s Joint Center for Housing Studies conducted a study titled Improving America’s Housing 2017: Demographic Change and The Remodeling Outlook that looked at the various types of home renovations and which of those are more popular among different age groups.

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Getting Ready For 2017? Not Before You Read This

PYMNTS

Today, we thought we’d set the table for 2017 by reprising seven of the, ahem, more controversial topics of conversation. OK, there were actually a lot more than seven, but here are seven that might help ground your thinking about the big shifts in 2017 that she spoke of a few weeks ago. . Millennials Are In For Some Hard Times.

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12 Industries That Will Thrive Thanks To Millennials

CB Insights

Popular media coverage of millennials often fixates on the industries the generation is allegedly killing and their supposed fiscal irresponsibility. Some industries benefiting from millennials’ increased spending power, such as travel, reflect well-worn Gen Y tropes like the general preference for “experiences” over things.

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From Investing To Budgeting, How Millennials Are Disrupting Personal Finance

CB Insights

While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. But millennials face significant headwinds in making those financial dreams a reality. get the REPORT on next generation investors. From big banks to big tech.

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Point-Of-Sale Lending Gains Momentum As Millennials Shun Credit Cards

CB Insights

According to CB Insights data, 9 POS lenders have raised $700M+ across 14 deals since June 2017. tranche of Series A funding from Ribbit Capital and Xiaomi Ventures (8/27). POS lenders are partnering with merchants to provide shoppers — both in-store and online — access to capital. Top players.