FedNow won’t bring ‘tidal wave’ of change
Payments Dive
APRIL 21, 2023
“Payments solutions reach scale when they provide better usability, affordability, and security,” write partners at a San Francisco venture capital firm.
Fintech Funding: Arc secures $20M series A
BankInovation
AUGUST 19, 2022
Fintech Arc announced Wednesday that it has secured $20 million in a series A funding round. The San Francisco-based startup’s platform gives software-as-a-service startups access to upfront capital and provides a cash management account to store and spend funds.
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Enterprise Security Returns To Top Of B2B Investment Mountain
PYMNTS
MARCH 1, 2019
Cybersecurity returned to the top of the B2B startup investment list as three companies in the enterprise security realm landed nearly half of the $246 million in B2B venture capital this week. Commerce Ventures, Flint Capital, Two Sigma Ventures, Synchrony and Sorenson Capital also participated, according to reports.
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Ex-Uber Exec To File $250M SPAC IPO Backed By Former Google CEO
PYMNTS
OCTOBER 4, 2020
2) for DPCM Capital Inc. , a special purpose acquisition company or SPAC , with the Securities and Exchange Commission (SEC). There’s a real need for quick, confidential capital and price certainty and for sponsorship in the markets,” he said. Emil Michael filed an S-1 prospectus on Friday (Oct.
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Here Are The Blockchain Networks Most Popular With Capital Markets Players
CB Insights
NOVEMBER 19, 2020
As blockchain tech gains commercial traction, a growing number of companies want to use it to reimagine the capital markets infrastructure that powers the trade of stocks, bonds, and other securities. The chart above shows the core blockchain tech being used by projects and corporates working on DLT applications for capital markets.
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DoorDash Moves Ahead With 4Q IPO Plans
PYMNTS
AUGUST 23, 2020
DoorDash , the San Francisco-based prepared food delivery service, is planning to go public by year’s end, Bloomberg reported, citing sources. In February, the Silicon Valley-based delivery unicorn filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC). Palantir Technologies Inc.,
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Can Banks Solve their Small-Dollar Loan Problem with Fintech Partnerships?
Bank Innovation
FEBRUARY 18, 2019
Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.
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Digital Money Platform Uphold Acquires JNK Securities
PYMNTS
JUNE 27, 2018
Digital money platform Uphold announced that it has reached an agreement to acquire New York Stock Exchange member JNK Securities Corp. The company has global operations in Braga, London, Los Angeles, Mexico City, and San Francisco. In its 25-year history, JNK has continued to evolve with the financial markets.
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12 Startups Showed Their Latest and Greatest at INV Fintech Demo Day
Bank Innovation
MARCH 9, 2018
EXCLUSIVE - On March 6 in San Francisco, 12 impressive startups demoed their latest in fintech technology at INV Fitnech's 2nd annual demo day. INV Fintech, the sister accelerator to Bank Innovation, is partnered with Fiserv and eight banking partners with over $3 trillion dollars in assets.
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NYSE Lobbies To Allow Fundraising With Direct Listings
PYMNTS
NOVEMBER 26, 2019
The New York Stock Exchange (NYSE) wants to amend rules so that companies can go public through a direct listing, and raise capital from public market investors at the same time. As it stands now, companies cannot raise capital with a direct listing. Both companies were able to do this due to sufficient capital on their balance sheets.
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Fintech Is Back
Bank Innovation
MARCH 7, 2018
EXCLUSIVE (SAN FRANCISCO) -- Welcome back to the fintech boom. At this time last year, fintech was in a downturn. Fintech venture funding was down more than 9% year-over-year; valuations seemed stuck. But the fintech market has rebounded.
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Surprise Outcomes Edition: Cybercrime, Student Loans And CAN Capital
PYMNTS
DECEMBER 5, 2016
Public transport riders in San Francisco got something of an early Christmas present last week – courtesy of a cybercriminal getting some coal in his stocking. San Francisco’s Muni public transit system was reportedly hit by a ransomware attack last weekend (Nov. Hack A Municipal Transit System — Get Hacked Back.
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Mortgage Lender LoanDepot Looks Toward $15B IPO
PYMNTS
SEPTEMBER 17, 2020
We continue to evaluate capital options and are excited about our industry position,” CEO Anthony Hsieh told Bloomberg. Securities and Exchange Commission (SEC). The company has determined not to pursue a public offering of the securities covered by the registration statement at this time,” LoanDepot wrote in its filing.
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CRE risk management: Navigating hazards and opportunities
Abrigo
DECEMBER 18, 2023
WATCH Takeaway 1 Banks and credit unions are critical sources of capital for businesses in their communities, so how institutions assess CRE credits matters. Takeaway 3 Loan-level stress testing can help assess repricing risk, while capital stress testing helps clarify the impact of CRE loan losses on capital.
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Cloud-based FI Software Provider nCino Goes Public
PYMNTS
JULY 7, 2020
Securities and Exchange Commission (SEC) on Tuesday (July 7), the stock is expected to be priced between $22.00 Founded in 2012, nCino has raised $213 million in venture-backed funding, according to Crunchbase, the San Francisco provider of business data about private and public companies. million shares of its stock.
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San Francisco FHLB to Use $40M for Job Creation Programs
American Banker
MARCH 11, 2016
The Federal Home Loan Bank of San Francisco is exploring ways to use $40 million it received as part of a private-label securities settlement to support small-business development and job creation to help future homebuyers.
Stripe Raises $100M, Boosting Valuation To $22.5B
PYMNTS
JANUARY 30, 2019
Stripe, the San Francisco digital payments startup, has landed a $100 million investment from Tiger Global Management, boosting its valuation above $20 billion. Stripe is a leader in the market, with its platform that enables electronic payments and secure transactions both in-store and online.
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Roblox Holds Off On IPO Following SEC Scrutiny
PYMNTS
JANUARY 29, 2021
Security and Exchange Commission (SEC) raised concerns, Reuters reported on Friday (Jan. The SEC is investigating how the San Francisco-area startup allocates revenue. . Earlier this month, Roblox raised $520 million in a funding round led by Altimeter Capital and Dragoneer Investment Group. 29), citing an employee memo.
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SoFi Expands Into Hong Kong With ‘Automated Investing’ Vehicle
PYMNTS
APRIL 21, 2020
The opening of a Hong Kong outpost is part of SoFi’s bid to acquire online brokerage firm 8 Securities, while expanding its business and serving up commission-free trading there. SoFi, which deals with consumer financial services, said it will continue to serve existing 8 Securities brokerage customers. billion.
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Car Talk: Shift Announces Plans To Go Public
PYMNTS
JUNE 29, 2020
“With its tremendous, ongoing success in its core markets, we believe that this merger and its accompanying capital infusion will enable Shift to expand its product offerings and execute on its growth strategies.”. Arison said the move was about adding capital to scale the company. Merging with Insurance Acquisition Corp.
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245 SigFig Raises $40M And Secures Big Bank Support
PYMNTS
MAY 25, 2016
San Francisco-based wealth management technology company SigFig announced on Tuesday (May 24) that it raised a $40 million funding round from a slew of VCs and financial institutions. The firm said its new capital will be used to accelerate the expansion of its team and robo-advisor technology platform.
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Bitcoin Daily: Hong Kong's OSL Gets Preliminary OK To Trade Virtual Assets; VeChain Launches Eco-friendly Blockchain Solution
PYMNTS
AUGUST 23, 2020
Once the approval is finalized, the license will allow it to work in dealing in securities and as an automated trading service (ATS), regulated under Hong Kong's Securities and Futures Commission (SFC). SEC filings show that the fund has a total of $300 million in assets overall now.
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Bitcoin Daily: ‘Blockchain Developer’ Tops LinkedIn’s ‘Emerging Jobs’ Report; ICOs Face Threat Of Crypto Refunds
PYMNTS
DECEMBER 14, 2018
.” In fact, the job grew 33 times faster than other positions this year, with demand highest in San Francisco, New York City and Atlanta. California-based hedge fund Pantera Capital has revealed that it might have to issue refunds to its backers after the U.S.
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Brex Offers FDIC Insurance, Adds Chief Legal Officer
PYMNTS
JULY 22, 2020
Brex , the San Francisco financial technology startup, is offering FDIC insurance on its no-fee cash management account, the company announced Wednesday (July 22). Her role will include legal and compliance oversight including the company affiliate, Brex Treasury LLC, a Securities and Exchange-registered broker-dealer.
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B2B FinTechs Start 2020 Strong With More Than $1B In VC Funding
PYMNTS
JANUARY 24, 2020
While businesses have more sources of capital than ever before, from bank loans to initial coin offerings to alternative online investments, experts are urging small to medium-sized businesses (SMBs) to take a strategic approach to their fundraising efforts — often by combining a variety of funding sources to mitigate risk. Flutterwave.
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198 Real Estate Startup Raises $1.2M To Expand
PYMNTS
FEBRUARY 17, 2017
In hyper-competitive markets like Boston, New York and San Francisco, many buyers overbid and sometimes wave inspections to sweeten the pot for sellers. While this may seem like a great tactic for securing a home in a great location, inspections provide useful information that gives buyers leverage on price negotiations.
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100 Munchery Leaves Consumers, Vendors Out $6M
PYMNTS
MARCH 5, 2019
Munchery had said it was planning to focus on its largest market, San Francisco, in an effort to become profitable, but that never happened. million in senior secured debt, as well as convertible debt of approximately $23 million. That came after it shut down service in Seattle, Los Angels, and New York.
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Flutterwave Rolls Out Online Portal For African Merchants
PYMNTS
APRIL 30, 2020
The FinTech company, based in both San Francisco and Nigeria, secured the venture capital (VC) investment from Worldpay , which has also struck a strategic partnership with the firm. At the time, Flutterwave said it would use the funding to further build out its technology and continue expanding throughout Africa.
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Chinese Startup Secures Lion’s Share Of $272 Million Raised
PYMNTS
SEPTEMBER 29, 2017
Investment in B2B FinTech startups came through a variety of channels this week, from venture capital to growth equity. Marketing and sales platform Drift raised $32 million from General Catalyst, HubSpot and Sequoia Capital. trillion market. Alternative Finance.
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Neiman Marcus Emerges From Chapter 11
PYMNTS
SEPTEMBER 28, 2020
He said the company’s new owners include PIMCO, a California-based global investment management firm, Davidson Kempner Capital Management LP, a global institutional alternative investment management firm headquartered in New York City and Sixth Street Partners, the San Francisco global investment firm.
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Andreessen Horowitz Fights Back Against DC’s Crypto Curbs
PYMNTS
SEPTEMBER 2, 2019
Venture capital firm Andreessen Horowitz is attempting to fight back against Washington’s tougher stance on cryptocurrencies. And as Bart Stephens, co-founder and managing partner of Blockchain Capital, a venture capital investor focused on cryptocurrencies, noted, “The U.S.
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Stripe Expands European Presence
PYMNTS
SEPTEMBER 10, 2019
San Francisco-based Payments startup Stripe is rolling out its services in eight new European countries, the company said in a press release on Monday (Sept. Stripe taps into machine learning for enhanced security safeguards to help prevent fraudulent transactions. . The company also announced Thursday (Sept.
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Digital Payment Company Nexi Agrees To Buy SIA For $5.4B
PYMNTS
OCTOBER 5, 2020
The transaction will create a company with a combined market capitalization of around 15 billion euros ($17.6 billion) to acquire Ingenico Group , the Paris-based technology provider of secure electronic transactions to create a FinTech dynamo. the San Francisco-based financial services company. billion euros ($5.4
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Divvy Lands $30M To Disrupt The Homeownership Model
PYMNTS
OCTOBER 10, 2018
Homeownership startup Divvy announced that it has raised $30 million in equity and debt from Andreessen Horowitz , with participation from seed investors Caffeinated Capital, DFJ and PayPal Co-founder Max Levchin. “We get the privilege of buying homes for deserving families every day, and it’s a responsibility we don’t take lightly.
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115 RegTech, AI Fuel Strong B2B FinTech Numbers
PYMNTS
APRIL 28, 2017
venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 Analysts said the industry has seen its highest venture capital activity since Q1 of 2016, fueled by focus on late-stage investment rounds. This week’s B2B venture capital roundup is quite indicative of these trends. According to KPMG’s U.S.
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Silicon Valley VCs Want In On Telegram’s ICO
PYMNTS
JANUARY 26, 2018
Three big Silicon Valley venture capital firms want to invest in Telegram ’s initial coin offering (ICO), The Financial Times reported. Kleiner Perkins Caufield & Byers, Benchmark and Sequoia Capital have each told the messaging startup that they want to invest $20 million, according to three individuals familiar with the deal.
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Nextdoor Continues Rapid Growth With $170M Funding Round
PYMNTS
SEPTEMBER 10, 2019
Four months ago, the San Francisco-based company announced it had a valuation of $2.1 The company said it is ready to move into “many more” markets with the new capital. Facebook has said it wants to get more private, and Amazon recently launched an app called Neighbors, powered by its security apparatus, Ring.
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Stripe Strides Into Singapore
PYMNTS
SEPTEMBER 20, 2016
It’s the next step in San Francisco-based Stripe making strides into other countries. The business is backed by Sequoia Capital and PayPal founders Peter Thiel and Elon Musk. Payment startup Stripe is heading to Singapore with the mission to help other local startups kickstart online businesses.
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100 Can Retailers Push Back Against Surging Account Takeovers?
PYMNTS
FEBRUARY 19, 2019
Account takeovers are becoming bigger business for criminals — or, at least, the business of preventing account takeovers in the digital retail and payments realm is becoming an increasing focus of companies and security experts. The new capital will help fuel hiring and other growth, the company said. Account Takeover Growth.
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118 Telegram Raises $1.7 Billion So Far With ICO
PYMNTS
APRIL 2, 2018
Citing Securities and Exchange Commission documents, Cheddar reported it raised the $850 million in February, in what was its second round of fundraising. A San Francisco cryptocurrency investor told the paper that the company’s plans were “hyperbolic claims” and a “huge red flag.” That would bring the total to $2.5
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B2B Startup Investors Go After The Niche Markets
PYMNTS
JUNE 21, 2019
In India, where investors have shied away from alternative nonbank financial companies as of late, one small business (SMB) lender managed to secure an impressive funding round. Human resources and payroll startup Kredily , based in India, announced $750,000 in Seed funding, led by Fosun RZ Capital, reports in The News Minute said this week.
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Teacher-Focused Homebuying Startup Lands $7.5M
PYMNTS
APRIL 8, 2019
“Our mission is to help these people build financial security and help them remain committed to their communities,” Landed co-founder Alex Lofton said. “We Landed said it has helped 200 teachers so far in areas like San Francisco Bay, Seattle and Denver. We try to stay flexible to people’s realities.
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Bitcoin Daily: Sygnum Crypto Firm To Seek Singapore Banking License; US Air Force Teams With Constellation Blockchain Firm
PYMNTS
AUGUST 29, 2019
The company, which is based in both Switzerland and Singapore, has been talking with regulators and petitioned for a capital markets services license, which will allow the firm to offer asset management as a first step into financial services, co-founders Mathias Imbach and Gerald Goh said, according to Deal Street Asia. “In
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Dote Raises $7.2M For Mobile Shopping App Aiming To Compete With Amazon
PYMNTS
JULY 21, 2017
million in a venture capital funding round to compete with Amazon in the eCommerce fashion business. million venture capital funding round in the company, and part of the VC money was secured on Apple’s “Planet of the Apps” startup show. A newly launched retail app called Dote has raised $7.2
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