Below are news related to fintech industry this week.
New US nominations
- Janet Yellen, Professor Emeritus of U.C Berkeley, becomes the first woman to serve as the Treasury Secretary in the new Biden Administration. She will also be the first person to have worked in the three critical federal economic policy making roles, Chief White House economist, Chair of the Federal Reserve, and now Treasury Secretary.
- Also, the Biden administration nominated MIT Sloan professor Gary Gensler to lead the Securities and Exchange Commission(SEC)
Fin Tech Venture Capital
- Brigit, a startup that helps end-users build a brighter financial future, raises $35M in Series A funding. The company uses an algorithm to protect consumers from overdraft fees, and they also provide cash advance services without interest rates.
- Rapyd, a global payment services company, raised $300M in Series D funding.
- Plaid launches Finraise incubator program targeting entrepreneurs from under represented communities.
- PPRO, a global provider of local payments infrastructure, raise $180M
- MotoRefi, an auto refinancing startup, announced a $10 million Series A
- Blend, a digital lending solution vendor, raised $300M in series G funding.