According to the WSJ, SoFi is laying off around 65 employees in its mortgage division; these employees worked out of offices in Healdsburg, California and Cottonwood Heights, Utah; the company has about 1300 employees; according to SoFi, the company “made some changes to staffing to ensure we have the right people in the right roles and locations to power our growth.”; at the same time SoFi is looking to fill 175 jobs. Source
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With the exception of those who reside in few states, users of Square’s Cash payments app can buy and sell bitcoin; users are limited to purchasing $10,000 in bitcoin per week; Square will not add fees to bitcoin transactions and uses the major exchanges to calculate prices. Source
Yahoo Finance's new app called Tanda has a unique approach to helping consumers save money; users pool their money over time with others; those who decide to withdraw money from the pool first pay a small fee while the last person in the group receives a small bonus; Lend Academy shares more details and screenshots of the the app. Source
- Bradley Strock, PayPal CIO, Joins Elevate’s Board of Directors
- Redpoint Capital Group Rebrands as Park Cities Asset Management
- Zopa surpasses £3bn in lending
- Juniper Square Raises $8M in Series A Funding
- LendingPoint Names Antonio Martino as new CFO
- Juniper Square raises $6M for its real estate investment platform
- Bitbond Launches Alternative Investment Fund in Partnership with 1741 Fund Management
- Bitfury Enters Bitcoin Crime-Fighting Business
There are plenty of financial apps on the market today spanning all aspects of personal financial management. There are apps...
Chinese lenders are moving into Southeast Asian countries to explore new opportunities in lightly regulated countries; according to Global Times, over 50 Chinese lenders have already launched overseas operations in countries like Indonesia and Cambodia; current entrants include well known names like CreditEase, Lufax and jimu.com; some lenders are opening up subsidiaries while others are focusing on partnerships with local companies. Source
SBI Group, owner of SoftBank is investing into the mobile-first bank; SBI Group will also get a seat on Moven's board and the companies plan to form a joint venture in Japan; Moven is also splitting its business in two; one side is the software provider that powers digital banking software and the other is the neobank, MovenBank; Moven also announced that it is in the process of purchasing a US bank. Source
Goldman Sachs has been busy acquiring companies to boost its consumer facing business; they now have expertise across consumer lending, small business lending and real estate; Lend Academy shares their latest acquisitions, including the acquisition of Final, a credit card startup; it seems as though credit cards was the missing piece and it's possible Goldman Sachs will enter the credit card business. Source
Senmiao Technology plans to raise $14 million in a US IPO; the company was founded in 2014 and plans to list on the Nasdaq with symbol AIHS; if the company has a successful IPO, they may be worth around $100 million. Source
- BlueVine doubles invoice financing credit lines to up to $5 million
- BNI Europa makes €50m Funding Circle in Germany
- Banco Popular reboots Eloan for new era in online lending
- Santander Consumer USA And AutoFi Team Up To Provide Car Buyers And Dealers With Fast And Easy Online Sales And Financing
- SmartBiz Loans® Launches AI-powered Digital Advisor Tool for Small Business Owners