Elevate's Center for the New Middle Class has released a study showing subprime consumers are limited in their ability to utilize credit balances or borrow from their social networks; the Center's study reports 70% of nonprime Americans couldn't cover an urgent expense of $500 or more with their savings and 64% wouldn't be able to borrow from friends and family; the Center's study amplifies the need for solutions targeting nonprime borrowers; Elevate's Center for the New Middle Class is currently undergoing research efforts to support nonprime credit access and personal financial management efficiencies. Source
Democratic Presidential hopeful Elizabeth Warren released her plan for student loans this week and it was met with mixed reviews;...
Digital wealth startup Ellevest has grown to more than $600mn in assets under management since launching 4 years ago but...
Digital wealth management startup Ellevest has joined the ranks of other fintechs who have made the move into becoming a...
Digital wealth management startup Ellevest raised $33mn led by Rethink Impact and PSP Growth; other notable investors include Melinda Gates’s...
Ellevest is an investment platform focused on women; the firm is led by Sallie Krawcheck and recently raised $34.6 mn in a Series A round; the round was led by Rethink Impact with participation from a wide variety of investors including PSP Growth, Salesforce Ventures, CreditEase Fintech Investment Fund, LH Holdings, SK Impact Fund, Morningstar, Khosla Ventures, Mellody Hobson, Ulu Ventures, Contour Venture Partners and Astia Angels. Source
Empower Retirement has bought digital wealth management fintech Personal Capital for $825mn upon closing, with another $175mn in planned growth...
OnDeck is one of the market's leading small business online lenders and they have taken an active role in industry self-regulation specifically around improved transparency for business borrowers; in their featured blog post they discuss the market's landscape and their lending technology partnership integration efforts; they also provide details on their involvement in developing industry best practices through development of the Association for Enterprise Opportunity and the Innovation Lending Platform Association; this involvement has resulted in the creation of the SMART Box which they also detail in their blog post. Sponsored Blog Post
Any form of modernization of the Community Reinvestment Act must have measurable analysis of community value at the foundation, according...
Enova, best known for short term consumer loans, is acquiring OnDeck, one the leading online small business lenders, in a...