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Amazon Sizzles, Plenti Fizzles And Goldman Gets Its Consumer Banking Groove

PYMNTS

Goldman’s first toe in the water was Marcus, its consumer banking and lending platform, said to be named after its founder. In fact, one of them asked Chavez during the earnings call whether Marcus was lending to consumers with less than stellar credit histories. The Big Bet on Consumer Services. The Dip into Commercial Banking.

New York 101
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The Case For Localizing Mom-And-Pop Investment

PYMNTS

For businesses with between 20 and 99 employees, credit cards remain their top financing source, while bank loans are more commonly reserved for firms with between 100 and 500 employees. One of the biggest challenges today, he noted, is raising awareness among small businesses that this is even an option for them. Localizing Capital.

Capital 145
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2021 GonzoBanker Awards

Gonzobanker

million gets the vaunted consumer lender a much-prized bank charter, low-cost deposits to juice current earnings, and a business lending capability to drive future growth. Rex Johnson, Baxter Credit Union founder and former CEO – Rex was a legend in the credit union industry who will always be remembered as the “Yoda” of lending.

Fintech 142
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Fintech Fundings: 22 Companies Raise $300 Million Plus 2 IPOs Raise $5.9 Billion

Fintech Labs Insights

Gift cards backed with public company equity. Fingerprint-authenticated payment card. HQ: Boston, Massecheusetts. Card rewards management. Tags: Enterprise, underwriting, credit, lending, analytics, API, Life.SREDA (investor). Total raised: $600 million. Source: Finovate. Secure messaging for financial services.

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Fintech Fundings: 186 Companies Raised $1.6 Billion in June

Fintech Labs Insights

Alt-lending to small businesses. HQ: Boston, Massachusetts. Credit card with consumer controls. Marketplace lending analytics. Tags: Consumer, lending, peer-to-peer, credit, underwriting, investing. Total raised: $42 million. HQ: Ahmedabad, India. Source: Crunchbase. West Creek Financial. Latest round: $28.5

Company 12
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242 Startup Failure Post-Mortems

CB Insights

BTCjam, a P2P marketplace launched in 2012 to borrow and lend using bitcoin, announced the company has made “the difficult decision” to close up shop, according to multiple news sources. It did not close because the customer base isn’t there or due to a lack of demand for its lending products. -Kyle Hill, HomeCare CEO. Product: BTCJam.

Company 78