Chris Larsen, Ripple’s co-founder and executive chairman is benefiting from Ripple’s (XRP) recent rise; CNBC reports that his net worth climbed to $59.9 billion yesterday, at least on paper; this puts him high on the Forbes 400 list, just head of Larry Ellison; Larsen owns 5.19 billion of the digital currency and has a 17% stake in the company; he was previously a founder of Prosper. Source
The Series F round values the company at $2.9 billion post money according to Axios; participating investors include Thrive, Fidelity,...
US banks closed more than 2,000 bank branches in 2017, an 18 percent increase form the year earlier; Wells Fargo is one of the leading banks as they closed 194 branches and plan to close more than 800 more by 2020; other banks like Citizens Financial is reducing square footage at branches but not closing as many; Banking Technology lists the top 10 banks by branch closures. Source.
There are still funding rounds getting done during the pandemic, evenly solidly up rounds; Renaud Laplanche’s Upgrade has just closed...
Renaud Laplanche's new consumer lending platform, Upgrade, has announced a new executive hire; John Dye will be joining the executive team as general counsel; John brings experience from Western Union and has also worked at Freddie Mac, Citigroup and Salomon Smith Barney; John Dye will support the firm's legal, compliance and regulatory operations; he is joined by Louis Shansky who has also been hired as deputy counsel. Source
The buy now, pay later space is full of competition with names like Affirm, Afterpay and Klarna; what’s different about...
There has been a wide trend in recent years to use automated investment advice as it is seen to be...
Alexandra Villarreal O’Rourke from McGuireWoods discusses Project Catalyst and the no-action letter program from the CFPB in a Let’s Talk Payments interview; the first no-action letter was issued to Upstart, a consumer lender in the US. Source
Last week the government passed the CARES Act which included $349 billion in loan guarantees for small businesses; we also...
Sens. Sherrod Brown, D-Ohio, Elizabeth Warren, D-Mass., and three other Democratic senators sent a letter to Upstart Network and other...