Crowdfund Insider explores Sofi’s move to offer banking service without become a bank itself; the rent a bank model allows for FDIC insured accounts while Sofi gets to own the customer experience and offer these services without the regulatory burden of a bank; Sofi Money is set to roll out in 2018 and will offer 0.96% APY on accounts; there are no account fees and they will offer free ATMs internationally; many banks still have legacy systems and lack the culture of fintech companies so it will be interesting to see how they compete. Source
JoinedMay. 30, 2017
Articles5,302
Comments63
This piece was created by one of our content team members. Reach us at [email protected]
The Global Findex Database and accompanying report give a clear indication of how fintech is impacting access to financial services globally. Source
Point72 Ventures led a $3 million round in a company called Extend which was announced today; it allows for business owners to share credit cards with employees and freelancers without giving them physical cards; Point72 also recently invested in Imperative Execution, a dark pool trading platform, “Say” which aims to improve the proxy voting process and DriveWealth. Source
Callcredit is the second largest consumer credit bureau in the UK and was founded in 2000; the company currently has 1,200 employees; TransUnion currently does business in 33 countries. Source
The company raised $22 million as an extension to its $45 million Series C in August 2017; Capital Float raised $80 million of debt in the last 12 months used to finance its small business loans in India; Capital Float’s customer base includes 80,000 people in 300 cities; they currently complete 10,000 loans per month and have an outstanding loan portfolio of $170 million; their default rate is around 2% and loans are between $376 and $7,530. Source
Crunchbase shares the top seed, early and late-stage investors by total number investments since January 2017; topping the list in seed stage investments was Y Combinator with 28 total fintech investments followed by Plug and Play and 500 Startups; Plug and Play topped the list in the early-stage category; Bain Capital Ventures led in late stage investments with 6 followed by General Catalyst, Khosla Ventures, Menlo Ventures, Spark Capital and Union Square Ventures who all completed 5 deals in the time frame. Source
The CEO and Founder of Juvo shares how he plans to bring billions of unbanked people into the financial system for the first time. Source
- Someone transferred $99 million in litecoin — and it only cost them $0.40 in fees
- Landbay reaches Women in Finance targets
- Credibility Capital Signs Lease at Newark’s Historic Hahne & Co
- Growth Street joins FCA Register as an Appointed Representative, launches P2P investment opportunity for individuals
- AUTOGRAVITY EXPANDS VEHICLE FINANCING OPTIONS TO INTERNATIONAL STUDENTS THROUGH A NEW PARTNERSHIP WITH WESTBON
- FINITIVE LAUNCHES ALTERNATIVE LENDING INVESTMENT PLATFORM WITH $1.3 BILLION OF INITIAL TRANSACTION VOLUME
- Intrinio to Release API v2, Making Financial Data Even More Accessible
- NELNET EXPANDS LOAN SERVICING OFFERINGS TO MEET DEMANDS OF FINTECH LENDERS
- NSR Invest secures growth financing with FinSight Ventures
- Quovo Launches New Products to Improve Lending Value Chain at LendIt Fintech USA 2018
- TransUnion Boosts Entrepreneurial Innovation with new Startup Credit Kit
- Upgrade, Inc. Introduces Personal Credit Line
- Vizolution Launches North American Business at LendIt Fintech
- MoneyLion Announces the Big Alternative to the Big Bank
- LendingPoint To Accept Loan Payments and Disburse Loans via Debit Cards
- MedZERO Launches in Salt Lake City in Partnership with Asserta Health