China e-commerce business JD.com has announced the sale of its finance business which is focused on payments and investments; company will sell JD Finance for 14.3 billion yuan ($2.1 billion) in cash while also retaining some share in its future profits; with the spinoff of JD Finance, JD.com's business structure will now be similar to the structure of competitor Alibaba who also focuses on e-commerce and has a stake in payments finance business Ant Financial. Source
Founded after incubating in the Y combinator class of 2019, Jeeves is a cross-boarder card and payments company aiming to slash fees for startups that operate over multiple borders.
As a company founded as completely remote, Jeeves has employees all over the world and understands the issues that come with it.
Fintech startup Jefa has raised a $2 million seed round to build a fintech startup offering digital accounts with a product specifically designed for women living in Latin America and the Caribbean. The company has managed to attract 115,000 women on its waitlist and participated in TechCrunch’s Startup Battlefield last year. Investors in Jefa include...
Fintech startup Jefa has raised a $2 million seed round to build a fintech startup offering digital accounts with a product specifically designed for women living in Latin America and the Caribbean. The company has managed to attract 115,000 women on its waitlist and participated in TechCrunch’s Startup Battlefield last year. Investors in Jefa include...
In an interview in American Banker, Meiler discusses Marlette’s culture which aims to keep employees informed of the company’s goals; their strategy includes quarterly all-hands meetings with the company’s 100 employees to share what the goals are for the next 90 days; Meiler also shares how the company shifted its focus to profits given the changing environment and how this resulted in $11 million in GAAP profits last year. Source
In recent months Jersey City has seen three more companies relocate to the area; companies recently relocating include Yellowstone Capital, World Business Lenders and Principis Capital; this is in addition to BlueVine and Funding Metrics recently opening up operations in the city; one of the main drivers behind the move is the Grow NJ tax program helping businesses save money by relocating. Source.
Jianpu Technology, a subsidiary of Rong360, has filed for a $200mn IPO in the US; Goldman Sachs, Morgan Stanley and JP Morgan are bookrunners for the deal; Jianpu is an open recommendation platform for loan and credit card applications; the company has seen revenue jump 112 percent from 2015 to 2016 and thus far in the first six months of 2017 revenue has jumped 170 percent year on year. Source.
BNPL valuations are down 85%, but industry experts explained that banks are still onboarding the product. Find out why.
Affirm's earnings call came with an announcement of layoffs, in an effort to streamline in accordance with low revenue growth.
FinSight Ventures, a global venture capital firm focused on fintech companies, is seeking a portfolio manager for investing in real estate loans; the position will first be on a consulting basis which may lead to a permanent role; the firm has invested in companies such as Earnest, Dianrong, Lending Club and Financeit.