Fundbox, a company that offers loans and financial products to small businesses, announced today it has raised $100 million in a Series D round at a valuation of $1.1 billion. Or more simply, the company aims to solve SMBs’ working capital needs through its credit and payments offerings. It is particularly focused on B2B-focused small […]
Fintech
Jack Dorsey chases crypto, fintech dream post Twitter
(Reuters) – At a packed Miami conference in June, Jack Dorsey, mused in front of thousands of attendees about where his real passion lay: “If I weren’t at Square or Twitter, I’d be working on bitcoin.” On Monday, Dorsey made good on one part of that, announcing he would leave Twitter for the second time, […]
FinTech Sandboxes Work, But Success Isn’t Always Measured in Companies Launched
As the Federal Reserve Bank of New York and the Bank for International Settlements (BIS) launch a regulatory sandbox for FinTech companies, it’s worth looking at just what they are and how they aim to foster and nurture innovation. Announced on Monday (Nov. 29), the New York Innovation Center (NYIC) will trial and investigate new […]
UK stockbroker AJ Bell takes on fintech rivals with commission-free investing app
LONDON — Wall Street’s race to the bottom in stock brokerage fees is coming to the U.K. British online stockbroker AJ Bell said Monday it plans to launch a new app which offers commission-free investments in the first half of 2022. The move will see AJ Bell compete with a wave of fintechs offering similar […]
NY Fed Launches Fintech Research Wing With BIS Help
The Federal Reserve Bank of New York launched the New York Innovation Center (NYIC) to build and test new financial technology, including central bank digital currencies (CBDC), stablecoins and cross-border payments, the central bank division announced Monday. The NYIC is the result of a strategic partnership between the New York Fed and the Bank for […]
A fintech helping banks enter the cloud hits $1 billion valuation in JPMorgan-backed investment
LONDON — British fintech start-up Thought Machine has raised $200 million in a fresh round of funding that lifts its valuation above the coveted $1 billion mark. The cash injection was led by Nyca Partners, a U.S.-based venture capital firm that has previously bet on companies including Affirm and Revolut, with additional backing coming from […]
Westpac eyes faster approvals to combat fintech threat
Westpac is banking that a technology overhaul will further cut approval times across the lending giant, as a surge in mobile banking and growing fintech competition pushes banks to offer much faster credit assessments. Chris de Bruin, chief executive of Westpac’s flagship retail and consumer businesses, has also signalled in interview with The Age and […]
Indian FinTech Slice Hits Unicorn Status with $220M Funding Round
Slice, the India-based FinTech providing credit cards, has become a unicorn as of a new $220 million Series B, which values the company at over $1 billion. Slice originally began as a Buy Now, Pay Later product but has changed to offer credit cards in an attempt to close a gap in the market. With […]
Lithuania: Fintech Hub LT Reports that Fintech Firms Generated €399 Million in 2020
Lithuania has been working to position itself as a competitive Fintech center in Europe. In fact in April 2021, Lithuania Reserve bank Governor Vitas Vasiliauskas publicly stated that Fintech should compete with traditional financial services firms. A recent report issued by Fintech Hub LT shares that in 2020 Fintechs in Lithuania generated revenue of €399 Million topping the year prior which […]
British Business Bank report highlights spike in UK VC fund performance
A sharp increase in UK venture capital (VC) fund performance over the last 12 months has been highlighted by a new British Business Bank report. According to the research: UK VC funds continue to perform well, in comparison to their US counterparts; The UK has an increased proportion of top performing VC funds reporting very […]
