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Financial Services Platform SoFi Plans IPO Via SPAC

PYMNTS

Silicon Valley startup Social Finance (SoFi) is closing a merger deal with blank-check firm Social Capital Hedosophia Holdings Corp. Social Capital Hedosophia is one of three special-purpose acquisition companies (SPACs) on the lookout for investment opportunities. V to file an initial public offering (IPO). .

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Ant Financial Acquires Minority Stake In Klarna

PYMNTS

Other investors include venture capital firm Sequoia Capital and Australia’s biggest bank, Commonwealth Bank of Australia. Ant Financial is China’s biggest firm in the $27 trillion Chinese payments market and is expanding into consumer lending. tkowski, CEO, Klarna. . Klarna added over 75,000 new merchants last year.

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Q&A: The Next Leg Of Fintech Innovation

CB Insights

Our recent webinar — The State of Fintech Q2 2020: Funding Rebound Reveals the Next Leg of Fintech Innovation — highlighted key fintech trends and deals from the second quarter of 2020, including the rise of embedded fintech applications and demand for digital banking services. Free Download: State of Fintech q2’20.

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Warehouse Robots, AltFin And Cybersecurity Top B2B Funding

PYMNTS

million from Iris Capital, while existing backers 360 Capital Partners and Breega also participated. The California firm announced $12 million in Series B funding in a press release this week, noting Tola Capital led the funding. Another India alternative lending startup, AYE Finance, raised $21.5 eFactor Network.

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Social Capital Teardown

CB Insights

This teardown features annotations & commentary by four Social Capital partners. Thanks to the Social Capital team for updating/confirming their portfolio data on the CB Insights Editor. Social Capital is a VC fund with a focus on healthcare and education. Get all the latest data on innovation, startups, & disruption.

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26 Unicorn Companies That Exited In 2018

CB Insights

China Development Bank Capital, Coatue Management, Hillhouse Capital Management, IDG Capital, Temasek Holdings, Tencent Holdings, Tiger Global Management. Select Investors : Credit Suisse, Deutsche Bank, DST Global, GGV Capital, Goldman Sachs, IDG Capital, J.P. Salesforce Ventures, Sequoia Capital, Y Combinator.

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Gonzo Notes from Money20/20

Gonzobanker

Samsung Pay was launched in the United States after piloting in South Korea. Samsung bought LoopPay with its Magnetic Secure Transmission technology, which gives it the ability to reach merchants in a way that other wallets cannot due to having both the NFC (near-field communication) and MST (magnetic secure transmission) technologies.