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Financial Services Platform SoFi Plans IPO Via SPAC

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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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South Korea's Digital Kakao Bank Prepares For IPO

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In addition, Kakao Bank had rapid lending growth, higher net interest margins and more efforts to increase the proportion of low-cost deposits, according to Samsung Securities analyst Kim Jae-woo, quoted by Reuters. billion).

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Sizzle Or Fizzle: Walmart Pays Pays Off, Marketplace Lending Falls Off

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SMB Working Capital. Amex threw its hat into the online lending ring earlier this week when it announced that it will launch a program later this year that will extend lines of credit from as little as $1K to as much as $750K for qualified SMB borrowers. Investor Confidence In Marketplace Lending. Next time, guys? Woot, woot!

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Ant Financial Acquires Minority Stake In Klarna

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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. Klarna added over 75,000 new merchants last year. billion.

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Swift Prepaid, Bitty Pair Up For Virtual Merchant Cash Advances

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The funds can then be uploaded to a mobile wallet, including Apple Pay, Samsung Pay and Google Pay. “New and growing small businesses often need fast access to capital that supports basic needs like inventory purchases, payroll and marketing,” said Edward Siegel, CEO of Bitty Advance, in a statement.

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Bank Of America’s Corporate Banking Lead To Depart

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The unit handles the bank’s corporate lending, M&A advisory services and capital raising operations. The bank’s current Asia-Pacific President Matthew Koder is slated to replace Meissner, according to reports.

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This Week In Retail: Funding, Finance And Tech

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In the smartwatch arena, several companies, including Samsung and Huawei have seen a decline in wearable shipments. Moving into lending news, U.K.-based Walmart is getting in on the lending game in its own way with the unveiling of an installment loan offering that will allow people to put higher-priced items on a payment schedule.