Last week Prosper closed their Series G, raising $50 million from an investment fund co-managed by FinEx Asia and LPG Capital based in Hong Kong; sources say the post money valuation was $550 million, approximately a 70% drop from their high in 2015; Peter Renton reflects on the investment and the current state of the market. Source
While most of the fintech world has been focused on small businesses since the onset of the crisis there is...
The Curo Group targets underbanked consumers through WageDayAdvance in the UK and Speedy Cash in the US; they went public on Wednesday at $14 a share and were up more than 2.4 percent in their first day of trading; the former head of the CFPB led a Industry crackdown on payday lenders but new leadership points to those restrictions being lifted; the company charges about $25 per $100 borrowed and are backed by private equity group Friedman Fleischer & Lowe. Source.
Card conglomerates, including Visa, Mastercard and American Express, grabbed multiple headlines in 2018 centered on their adoption of commercial cards as well...
The head of Funding Circle USA talks small business lending, competition, banks, the SBA, Canada expansion, regulation and more. Source...
This guest post is from Victor Santos, founder and CEO of Boston mobile banking startup Airfox. His company is accelerating...
Pepper Hamilton provides details on their recent podcast and webinar in their featured blog post; the firm's January 5 podcast provided insight on what the Donald Trump presidency means for the financial services industry; on January 24 the firm provided a webinar on factors for considering the Office of the Comptroller of the Currency's new fintech charter. Sponsored Blog Post
Reports on the efforts of Kevin Karrels at First Tennessee, a bank with $29.4 billion in assets; joining the digital team, Karrels was involved in ensuring that the bank caught up with digital market competition; American Banker outlines factors involved with the digital initiative including the replacement of vendors with D3 Banking and the implementation of D3 Banking's online and mobile banking technologies. Source
Artificial intelligence startup Kasisto raised a $9.2 million Series A round that was led by Propel Venture Partners; the company intends to use the funds to expand into new markets, grow the engineering and sales teams and develop partnerships with systems integrators to enhance their platform; Kasisto is a fintech startup that lets companies engage and transact with their customers through natural, intelligent conversations via smart bots and virtual assistants. Source
Early wage access fintechs like PayActiv, DailyPay and Branch are all seeing a big boost from the ongoing crisis and...