fintech News of 04/09/20

Hong Kong Fintech Startup Neat Raises $11 Million Series A To Give Small Companies More Banking Services

Neat , a Hong Kong-based fintech startup, announced today that it has raised a $11 million Series A to help small businesses do cross-border banking. The round was led by Pacific Century Group, with participation from Visa and MassMutual Ventures ...

Another Major Fintech Exit As SoFi Acquires Banking And Payments Platform Galileo For $1.2b

The fintech wars continue to heat up with another major exit in the space. Consumer financial services platform SoFi announced today that it is acquiring payments and bank account infrastructure company Galileo for $1.2 billion in total cash and ...

Lending Startups Are Angling For New Business From The COVID-19 Bailout

As the largest federal stimulus package in the history of the United States, the Coronavirus Aid, Relief and Economic Security Act, injects a planned $2.2 trillion into the U.S. economy, fintech startups are angling to get a seat at the table when ...

SMB Loans Platform Kabbage To Furlough A ‘Significant’ Number Of Staff, Close Office In Bangalore

Another tech unicorn is feeling the pinch of doing business during the coronavirus pandemic. Today, Kabbage , the Softbank-backed lending startup that uses machine learning to evaluate loan applications for small and medium businesses, is ...

Revolut Launches Its Neobank In The US

Revolut launches its neobank in the US image European fintech startup Revolut is launching its app and service in the U.S. Starting today, anybody can sign up and get a Revolut debit card. In the U.S., Revolut has partnered with Metropolitan Commercial Bank for the banking infrastructure ...

Revolut Lets You Purchase Gold

Fintech startup Revolut has introduced a new trading feature for premium users. Starting today, Premium and Metal users can access gold exposure from the app. Revolut works with a gold services partner (London Bullion Market Association) so ...

Fintech CAC And The Great Credit Card Craze

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Today we’re getting two items out of my notebook while sticking to our recent fintech theme (Q1 fintech VC results here ...

For Investors, Late-Stage Fintech Startups Are A Lucrative Bet

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Over the past three months, a number of financial events have occurred in the fintech and finservices world that have caught our ...

The Plaid “Mafia” Begins With John Whitfield Joining Student Loan Fintech Startup Summer

The Plaid “mafia” begins with John Whitfield joining student loan fintech startup Summer image So far this year, one of the most eye-popping startup exits has been Visa’s $5.3 billion acquisition of fintech data services platform Plaid . It’s a major exit in the white-hot fintech space, and while that transaction is still going through ...

Level Launches A Mobile Banking App Offering 1% Cash Back On Debit Purchases, 2.10% APY

Level launches a mobile banking app offering 1% cash back on debit purchases, 2.10% APY image A number of startups are taking on big banks with new apps that offer modern, mobile banking experiences, innovative features, and reduced or even zero fees. Entering this now-crowded market is Level , a challenger bank and banking app with ...

Fintech VC Sets Records In q4 Despite Early-Stage Slowdown

Hello and welcome back to our regular morning look at private companies, public markets and the gray space in between. Fintech is what you hear about constantly, but probably aren’t as read up on as you’d like to be. Neither am I. ...

Coinbase Becomes A Visa Principal Member To Double Down On Debit Card

Cryptocurrency company has been working with Paysafe to issue the Coinbase Card , a Visa debit card that works with your Coinbase account balance. The company is now a Visa Principal Member, which should help Coinbase rely less on Paysafe and ...

Meet Belvo, A YC-Backed Startup Building A Financial API For Latin America

In the wake of the $5.3 billion sale of banking API provider Plaid to Visa — a deal generally lauded as intelligent for the larger company — fintech became an even hotter part of the venture capital and startup landscape. While ...

Ramp Is A Corporate Card Focused On Helping You Spend Less

Ramp is a corporate card focused on helping you spend less image Meet Ramp , a new startup that offers corporate credit cards with 1.5% cashback on everything. The company thinks that a cashback program combined with an analysis of your payments to help you spend less is more valuable than alternative corporate ...

Nova Credit Banks $50m To Expand Its Service Sourcing Credit Reports Across Borders

Around 70% of the world’s population now has some form of bank account or — thanks to mobile phones — a facility to receive and send money virtually, according to the World Bank. But when it comes to people crossing borders and ...

Mobile Banking Alternative Bnext Expands To Mexico

Spanish startup Bnext is expanding beyond its home country. The company is currently rolling out its product in Mexico . 170,000 people had previously signed up to a waiting list. Bnext is going to invite those 170,000 potential users first before ...

n26’S Head Of Product Is Building A Better Bank

Fintech startup N26 recently reached a new milestone as it now has five million customers . The company launched onstage at TechCrunch Disrupt five years ago. The premise was simple. A young startup wanted to build a bank that didn’t ...

Nigeria Is Becoming Africa’S Unofficial Tech Capital

Africa has one of the world’s fastest growing tech markets and Nigeria is becoming its unofficial capital. While the West African nation is commonly associated with negative cliches around corruption and terrorism — which persist as serious ...

Bankin’ And Bridge Launch Payment API Using Bank Transfers

Bankin’ and Bridge launch payment API using bank transfers image French startup Bankin’ has introduced Bridge Pay this week, an API that lets you initiate payments using bank transfers from your app. Think about it as a sort of Stripe, but for bank transfers. The API currently covers 12 major French banks, ...

African Fintech Firm Flutterwave Raises $35m, Partners With Worldpay

African fintech firm Flutterwave raises $35M, partners with Worldpay image San Francisco and Lagos-based fintech startup  Flutterwave has raised a $35 million Series B round and announced a partnership with Worldpay FIS for payments in Africa. With the funding, Flutterwave will invest in technology and business ...