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With $200m debt capital raise, Brex seeks to grow e-commerce client base

Bank Innovation

On the heels of a $200 million debt capital raise confirmed this week, corporate card and financial product startup Brex plans to ramp up its product offerings for e-commerce entrepreneurs. The company currently offers credit cards for e-commerce companies, a product that was first launched in February.

Capital 221
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With Softbank investing, working-capital marketplace C2FO closes $200m round ‘for global expansion’

Bank Innovation

C2FO, a nine-year old working capital digital marketplace, on Wednesday raised $200 million in a Series G funding round led by Softbank Vision Fund, with participation from Temasek and Union Square Ventures. The company declined to disclose the round’s valuation. The Leawood, Kan.-based based […].

Capital 170
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Square revises credit risk model for its SMB lending program

Bank Innovation

An update to Square’s credit risk model for its Square Capital commercial lending product — first disclosed yesterday — was “a key driver of Capital’s outperformance in the fourth quarter,” the company said. The advancement of Capital is key for Square as it continues to grow the fast-growing — and lucrative — lending product.

Lending 284
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University of Toronto launches fintech bootcamp to meet local labor demand

Bank Innovation

With nearly 200 startups, five major banks, 19 venture capital firms and representation from large tech companies like Google, Facebook, PayPal, Toronto is quickly becoming a center for fintech entrepreneurship.

Meeting 364
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How Can Financial Services Institutions Better Support Women? – An International Women’s Day Blog

Perficient

According to Forrester , companies in the top quartile for gender diversity are 21% more likely to have above-average financial returns. This program strives to provide “women entrepreneurs around the world with business and management education, mentoring and networking, and access to capital.”

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Canadian VC Portag3 taps new partner to ‘plant flag in Silicon Valley’

Bank Innovation

Canadian venture capital firm Portag3 Ventures has appointed Chris O’Neill as partner in an effort to shore up its presence in Silicon Valley. The Toronto-based firm, which recently closed its second fintech fund — valued at $320 million — focuses on direct-to-consumer fintech startups, as well as financial infrastructure companies.

Capital 259
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VC firms, startups face headwinds with SBA loans 

Bank Innovation

As small businesses race to apply for Paycheck Protection Program loans from the Small Business Administration, many venture capital firms and startups are figuring out how they can participate, if at all. “We

Capital 259