It was recently reported that JPMorgan Chase was entering the POS financing market; their entrance comes at a time when...
Maria Renz spent more than 20 years at Amazon and is now joining SoFi; Renz was most recently vice president...
The Futures Industry Association, the main futures industry group, is sending a letter to the CFTC expressing concerns over bitcoin futures; the FT saw a draft of the letter and it states that they did not allow for proper public transparency and input; futures brokers are concerned over holding more risk and have expressed concerns to the FT that they will not immediately clear the products. Source.
deBanked has taken the Inc 5000 list and provided a table of the top alternative small business companies by revenue; the top 5 include Square, OnDeck, Kabbage, Swift Capital and National Funding. Source
StreetShares provides loans for veteran-owned small businesses; following the California bizWin™ and VetBizWin™ initiatives, StreetShares has partnered with the Northern California Financial Development Corporation (Nor-Cal FDC) which will expand its business lending solutions with contract financing; Nor-Cal FDC is a licensed Financial Development Corporation and supports small business capital solutions for more than 3.6 million small businesses throughout California including a focus on companies in the San Francisco Bay Area and Silicon Valley. Source
Sallie Krawcheck previously worked as a Wall Street executive but has since founded Ellevest; the company offers a digital investing platform helping female investors access low-cost ETFs based on goals; Venus Williams, a professional tennis player, is among investors in the company; according to Krawcheck, women are less concerned with beating the market and focus rather on ensuring their money won't disappear completely; the platform also considers the longer lifespans of women and the possibility of extended time off from work; Business Insider provides screenshots of setting up an account; the app is not yet in the app store. Source
Olaf Carlson-Wee recently launched a fund with $15 million in assets under management and backing by Andreessen Horowitz and Union Square Ventures; Laura Shin sat down with Olaf on her Unchained podcast to discuss the fund and how he discovered bitcoin back in 2011; the podcast covers how Polychain Capital invests exclusively in digital assets, not companies, and how Olaf Carlson-Wee views cryptocurrencies; they also cover Olaf being the first employee at Coinbase and how he put what he called at the time his meager life savings into bitcoin. Source
Bank holding company, CRB Group Inc., has received venture capital investment of $28 million from Battery Ventures LP, Andreessen Horowitz and Ribbit Capital; the large investment in a bank is unusual for venture capitalists which have mainly been known for early stage financing in new fintech startups; CRB Group however has been considerably growing its digital banking capabilities making the investment attractive for fintech venture capitalists; New Jersey-chartered, Cross River Bank, was founded in 2008 and has since partnered with numerous fintech startups to offer industry leading services for lending and payments; the bank is expected to use the investment to continue building on its industry leading fintech services; because the bank is FDIC regulated the VC investors will be limited in some of their investment activities. Source
Online real estate lending platform PeerStreet has partnered with Wealthfront; PeerStreet will integrate with Wealthfront's Path offering; the integration has been facilitated by Quovo and will allow PeerStreet customers to view their PeerStreet investments holistically within their entire Wealthfront investment portfolio. Source
The CEO and Co-Founder of Groundfloor, a real estate crowdfunding platform, discusses their focus on fix and flip properties and why non-accredited investors have been their prime focus. Source