article thumbnail

FDIC Approves Square For Banking License

PYMNTS

The Federal Deposit Insurance Corporation ( FDIC ) gave the green light to an application from the FinTech firm Square to create a de novo industrial bank in Utah, the agency said on Wednesday (March 18). The headquarters will be in Salt Lake City, Utah. The new bank anticipates opening next year.

FDIC 276
article thumbnail

GPS Capital Markets For Sale, Sources Say

PYMNTS

Corporate foreign exchange brokerage GPS Capital Markets is reportedly up for sale, unnamed sources told PE Hub. As of last year, the company employed 63 people, reports said, citing Utah Business data. As of last year, the company employed 63 people, reports said, citing Utah Business data.

Capital 108
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

This Fifth Wall-Backed Company Raised $80M For Its Distressed Real Estate Marketplace

CB Insights

Sundae , a real estate tech company, has raised $80M in a Series C. The round drew participation from Fifth Wall Ventures, General Global Capital, QED Investors, Crossover VC, and Founders Fund, among others. HOW’S THE COMPANY PERFORMING? The company currently employs 180 people. Want the full post?

Company 69
article thumbnail

Subscription Business Models Lead B2B VC Funding

PYMNTS

Venture capital appears to be picking back up in the B2B technology startup community. This week saw an impressive $324 million in combined funding for a range of B2B FinTechs and other solution providers, including alternative lenders looking to support small businesses as they manage working capital instability. eFileCabinet.

San Jose 226
article thumbnail

Data, Business Intelligence And Security Lead B2B Funding

PYMNTS

In a venture capital slowdown, any investment round is a win. Focused on mitigating third-party risk for B2B buyers and suppliers, Utah-based Whistic recently announced a $12 million Series A investment round, FinNSMEs reported. The company raised $17.25 The company raised $17.25 PYMNTS rounds up the latest deals below.

Security 166
article thumbnail

Nikola Motor CEO Defends $4M In PPP Funds

PYMNTS

Trevor Milton, the CEO and founder of Nikola Motor Company , is defending his company’s receipt of $4.1 a NASDAQ-listed publicly-traded acquisition company, and is valued at more than $3 billion, according to Trucks.com. Nikola is a pre-revenue company with a lot of expenses and burn rate is high. The deal has not closed.

Utah 156
article thumbnail

Square Tries To Create A Bank, Again

PYMNTS

San Francisco-based FinTech company Square, known for its white card readers, has once again decided to become a banking establishment, according to a report in The Wall Street Journal. The company had previously asked to start a bank in September of 2017, but eventually withdrew from the process over procedural issues.