Below are news related to fintech industry this week.
Robinhood, online no fee based stock broker, is facing scrutiny from Congress and regulators over its decision to block users from purchasing shares of GameStop.(read my post on GameStop)
Bank of New York Mellon Corp,one of the america's oldest banks,announced its entry into the bitcoin market.Bank said that it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients
MasterCard said in a statement that it is preparing to support cryptocurrencies directly on its network this year. Quote below on the rise of digtal assets
“The trend is unmistakable,” Raj Dhamodharan, executive vice president of digital asset and blockchain products,MasterCard
Venture Capital and IPO
Opportunity Financial (OPFI), a fintech that partners with banks to offer loans to consumers with low credit scores, is going public through SPAC(read my blog article on SPAC as a vehicle for IPO)
Mobile banking platform MoneyLion Inc has agreed to go public through a merger with SPAC firm Fusion Acquisition Corp, in a deal that values the equity of the combined company at $2.9 billion.
Online retail lender loanDepot raised just $54 million by offering 3.9 million shares at $14
Tillit, a fintech startup that is building buy now, pay later(BNPL) for B2B purchases. (read my post on "BNPL") is said to be closing on latest round of funding.
Northmill Bank is conducting a capital round of $30 million to accelerate the geographical expansion
“When we now start to see a shift in banking towards smarter and more customer-oriented products, driven by customers' changing demands and behaviors, we as Sweden's only completely cloud-based bank see great opportunities to meet the new demands and be a positive driver for better banking services for all."-Hikmet Ego, CEO and co-founder of Northmill Bank
BharatPe,India's next fintech unicorn,has raised $108M in latest round of funding with valuation at $900M. The company provides universal QR code for payment processing.
SoLo funds,fintech company that wants to replace payday lenders with community -based lending, as raised $10M in latest rounds of funding.
Human Interest,a sanfranciso based affordobal full service 401k provider for small and mid sized business,completed $105M in series C funding
New posts this week.
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