Sequoia Capital, a well-known venture capital investor in technology, has announced executive changes that will empower a new generation of leaders for the firm; in an announcement this week Jim Goetz has named Roelof Botha as his replacement; Roelof Botha will take over Goetz's responsibilities as a Sequoia steward; Alfred Lin will also be replacing Goetz in his role managing Sequoia's United States venture business; Mr. Goetz also provided a letter to investors this week providing more insight on the changes. Source
All of the leading online lenders are struggling as the economic crisis continues to get worse; many have cut originations...
Experienced credit market executive Kathryn Petralia talks with Crowdfund Insider about fintech and the business growth of Kabbage; the firm has originated approximately $3 billion in loans to 100,000 US small businesses since 2011; it has developed lending partnerships with global banks Santander and Scotiabank; it has also been active in promoting small business lending through its development of the SMART Box in collaboration with the Innovative Lending Platform Association; other highlights from the interview include insight on fintech predictions and regulations, Kabbage's involvement with the Consumer Financial Data Rights group, initiatives within the Innovative Lending Platform Association and Petralia's career advice. Source
LendFoundry has developed a full operating system for marketplace lenders, banks and credit unions to provide online loans; Roger Vogel the firm's CEO talks about the operating system and how the business is evolving; also reports on the wide range of capabilities that the operating system offers including its APIs and services for compliance, loan originations and loan management. Source
PeerStreet is one of the leaders in the real estate crowdfunding space in the US; they announced in March that...
JPMorgan Chase recently merged their business-to-business treasury services unit with its consumer-to-business merchant services unit in a bid to take...
Insurtech startup Lemonade announced “We’re opening up the Lemonade platform to the world!” says Shai Wininger, co-founder of Lemonade; the new open API will allow Lemonade to be seamlessly integrated with commerce websites, financial advisor apps, property management companies, payment software processors, IoT [internet of things] platforms and more as Banking Technology reports. Source.
Citigroup reported that the number of customers using its mobile app rose 25% to 10 million from the first quarter...
Global fintech patents reached 9,546 in 2016 with a growth rate of 49% over the past five years; the US leads in fintech patents with 4,523 and it has twice as many fintech patents as the second ranking country, China; both startups and traditional financial services firms have been active in the patent process for new fintech technology. Source
Dave Girouard was first on the Lend Academy podcast back in 2014 which was their first year of operation; since...