Fintech

Moreover, when a customer does reach out to a bank with a query, it can take forever to get the job done. Take ICICI Bank, India’s third largest bank and until recently my only banking partner for over six years, for an example. It is now in its third month...

Brazil-based digital bank Nubank is said to be in the early stages of pursuing an initial public offering (IPO) in the US. Earlier this month, it was reported that Nubank had acquired $750 million in capital as part of two extensions of its latest Series G round on its way to raising $1.15 billion. Of note is that Warren Buffet’s Berkshire Hathway has invested $500 million in the Fintech. The valuation was pegged at $30 billion.

London FinTech Revolut posted increased revenues and gross profits for year-end 2020, but also incurred higher operating losses last year as the COVID-19 pandemic took hold worldwide, the company said in a press release on Monday (June 21). The British startup, which launched seven years ago, generated a 57 percent...

Blend Labs Inc. has filed for an initial public offering, according to a filing Monday. The mortgage and consumer-loan software company seeks to sell $100 million worth of shares, although that's often a placeholder figure used to calculate fees. Blend Labs filed for its IPO confidentially in April. The San Francisco company plans to trade its shares on the New York Stock Exchange under the symbol BLND. Blend said it lost $27 million, or 20 cents a share, in the January-March quarter, compared with a loss of 21 cents for the same period last year. Revenue for the quarter rose to $32 million, from $16 million a year ago. The company listed as clients banks such as Wells Fargo, U.S. Bank, M&T Bank, and others, as well as credit unions and mortgage lenders such as Lennar Mortgage. Underwriters include Goldman Sachs and Allen & Co.

British fintech firm Revolut said 2020 adjusted revenues, a metric that accounts for revaluation of intangible assets like crypto, grew 57% to £261 million. Adjusted operating losses, which include crypto revaluation income but exclude share-based payments, rose to £122 million, Revolut said. Revolut CEO Nik Storonsky said the company shifted...

Jim Cramer has some thoughts on PayPal (PYPL) - Get Report and JPMorgan Chase (JPM) - Get Report. He discusses why he thinks that investors should be eyeing the FinTech space. Also, he dives into how FinTech stocks can go up, but the bank stocks will go down. And vice versa.

a Fintech that is a regulated e-money firm and payments provider, says that savers don’t trust banks. According to Glint and an in-house survey of their users, 68% of savers no longer trust banks to protect their wealth and are searching for alternative currencies and stores of value. Glint states that consumers are seeking alternatives to fiat currency – including crypto.

Amazon is opening a Fintech Lab at Dubai's DIFC Innovation Hub, working with startups and partners to provide a forum for new directions in digital payments. Amazon intends to use the Lab to support the local startup community through networking, mentorship, roundtables, workshops, keynote speakers and research around the topics of digital services, fintech and the global tech arena.

The introduction of a central bank digital currency does not necessarily require a tradeoff between privacy and tackling financial crime, according to the Bank of England's fintech chief. Privacy has been one of the most hotly contested areas of the CBDC debate, featuring heavily in the feedback received by the...

After acquiring $51 million in capital through a Series B round led by Accel, Banking-as-a-Service (BaaS) provider Unit has introduced a product that will allow firms to offer live bank accounts and issue payment cards within minutes. Better Tomorrow Ventures, Aleph, Flourish Ventures, and TLV Partners also took part in...

Nate’s Series A has been finalized a year after the Fintech firm raised a seed round, bringing the total equity secured to date to $51 million. “We’re well capitalized and I couldn’t be happier with our choice to work with Roseanne Wincek and the Renegade team. Their people-first mindset and approach to human capital is refreshing and indicative of the type of venture capital that the new generation of founders like myself really value.”

a company focused on corporate-led “last mile” retailer financing solutions for Indian markets, has acquired $25 million in equity capital as part of its Series B round that was led by Tiger Global along with participation from existing investor, Sequoia Capital India. Progcap says it will use the proceeds...

The rapid growth of the dynamic FinTech industry in MENA has led to new business models, technologies, regulatory reforms and use cases being deployed across the region. The 3rd Georgetown FinTech Program is now accepting applications for its new cohort starting in mid-August for professionals in MENA. The fintech program...

Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. This week, Natasha and Danny, otherwise known as your two new favorite Book influencers (inside joke, you’ll get if you listen to the show), hopped on the mics to take everyone through the news, with Grace and Chris in the background.

Brazil-based EBANX, a cross-border commerce platform, recently acquired $400 million in capital from Advent International and another $30 million commitment. The company is now planning an initial public offering (IPO) in the US. Advent has reportedly made strategic investments in Vantiv, Worldpay, Nets, Nexi, Planet, Xplor Technologies, Prisma, Concardis, Monext,...

Travel app Hopper is unveiling a new fintech feature that makes the process of booking a hotel easier, and more flexible, than ever. Frederic Lalonde, CEO of Hopper, joined Cheddar to discuss.