Building off of the $70mn funding round from the summer Betterment is now reportedly worth $1bn; the $1bn mark is significant as it denotes that a company is considered a unicorn; the valuation makes Betterment the first robo advisor to reach unicorn status; the company currently has over $11bn in assets under management. Source.
American Express started making the slow transition a few years ago to cloud computing but the pandemic forced wide adoption...
Acting Comptroller of the Currency Keith Noreika spoke about the online lending industry, discussing the potential of companies taking deposits and seeking banking charters; he shared,"One way a maturing industry adapts to changing market conditions is to diversify its funding sources and expand into other sources that offer greater stability. As the industry matured, companies have found a balance that includes selling loans to retail and wholesale investors, securitizing loans, and even exploring the potential for deposits." American provides more on his remarks in their article. Source
The founders of the venture capital firm behind the likes of fintech firms Dave, Digit, Joust, Point and Scratch, has...
The Wall Street Journal reported late yesterday that Affirm has started to prepare for an IPO that could value the...
We’ve seen many banks who have launched their own fintech offerings; NatWest with Mettle and Bo is one example and...
Welcome Technologies has launched a new digital bank account in partnership with Green Dot; called PODERcard it is targeted at...
Google and PayPal have announced that they will be looking to expand their payments partnership; PayPal will be available across...
Small business owners who sell on Amazon’s platform will soon receive invitations for revolving credit lines from Goldman Sachs; fixed...
Online solar lender Wunder Capital has raised $112mn, 90 percent of which is debt with 10 percent being equity; Cyrus investments led the capital infusion and Wunder chief executive Bryan Birsic said, “The debt component is going to blow out the lending opportunity.” Source.