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Varo Achieves Milestone As First Consumer FinTech To Get National Charter

PYMNTS

Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. Varo is the first consumer FinTech to receive a new national bank charter from the U.S. Since then, the skepticism has evaporated and the CEO of Varo Money Inc. , To date, Varo has raised $419.4 million.

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Healthcare Tech Company Truepill Raises $75M To Expand

PYMNTS

Connecticut-based healthcare and FinTech investor Oak HC/FT led the funding. Also participating were existing investors Boston-based Optum Ventures, which offers capital and strategic guidance to startups; TI Platform Management LLC., The new service is expected to expand Truepill’s direct-to-patient capabilities.

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Dream Payments Closes $10 Million Series A

Fintech Labs Insights

The Series A round was led by the investing division of Fairfax Financial Holdings, FairVentures, and takes the company’s total capital to more than $17 million. In addition to FairVentures, Connecticut Innovations, Real Ventures, and angel investors also participated. million investment award.

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Fintech Fundings: 9 Companies Raise $73 Million Week Ending Dec 31

Fintech Labs Insights

The year ends with a total of about $19 billion invested into private fintech companies (includes debt and equity). If you add the $6 billion in new capital raised in the IPOs of Worldpay, Square and First Data, the 2015 total is a nice even $25 billion. HQ: Shelton, Connecticut. Mobile wallet & biometric solutions.

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Fintech Fundings: 38 Companies Raised $300 Million First Week of June

Fintech Labs Insights

With 38 deals reported – one shy of the weekly record – fintech companies raised $303 million worldwide the first week of June. Fintech deals by size from May 28 to 3 June, 2016: Partners Life. HQ: Rocky Hill, Connecticut. Kikka Capital. Nine of the deals were for undisclosed amounts and $2 million was reported as debt.

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Strategic Insight Buys BrightScope for Reported $35+ Million

Fintech Labs Insights

But RIABiz reports that the acquisition was financed by Genstar Capital and notes “outside sources peg the deal at $35 to $40 million.” Strategic Insight was founded in 1989 and is headquartered in New York City, with offices in Boston, San Francisco, Samford, Connecticut, as well as around the world in the U.K.,

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Fintech Fundings: 186 Companies Raised $1.6 Billion in June

Fintech Labs Insights

Second quarter closed with a frenzy of fintech fundings with 49 deals announced the last week alone, 10 more than the previous weekly record. Fintech deals by size from 25 June to 1 July, 2016: Paycor. HQ: Hartford, Connecticut. The post Fintech Fundings: 186 Companies Raised $1.6 Of the total raised, $61.5 FundedByMe.

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