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US Bankcards Industry Benchmarking Trends: 2023 Q1 Update

FICO

Census Bureau reports advanced estimates that retail sales were down 1.2% Trends in the macro environment are seen throughout the credit card industry Rising prices, increases in the cost of securing and carrying debt, and the fear of higher unemployment rates are trickling through to consumer behavior on credit cards.

Trends 52
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24 Lessons From Warren Buffett’s Annual Letters To Shareholders

CB Insights

At the age of 26, Nebraska stockbroker and school teacher named Warren Buffett took his “retirement fund” of $174,000 and decided to start his own investment business. In the early 70s, See’s was able to produce about $2M a year (after tax) on just $8M in net tangible assets (including all accounts receivable.)

Omaha 78
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Fintech Fundings: 113 Companies Raised $1.7 Billion in May

Fintech Labs Insights

HQ: Omaha, Nebraska. Password management & secure digital wallet. Online tax preparation. Online investment platform for secured loans. Retail investor services platform. Tags: SMB, credit cards, expense management, bookkeeping, controls, security. Total raised: $35 million. Source: Crunchbase.

Company 17
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Fintech Fundings: 27 Companies Raise $345 Million Week Ending August 14

Fintech Labs Insights

It was another stellar week for Finovate alums with 6 fundings totaling $123 million: money transfer service Payoneer ($50 mil), AI innovator Kensho ($33 million), tax specialist VATBox ($24 million), , cash-back specialist Mogl ($7.9 million), mobile security provider Tyfone ($6.6 VAT tax refund solution . Total raised: $58.3