Small business lender Kabbage is planning for a new equity fundraising, targeting a few hundred million dollars; sources say the lender is considering potential acquisitions including a buyout of OnDeck; Kabbage has reported a number of recent successes including a partnership with Banco Santander, expansion to Ireland and the industry's largest asset-backed securitization of small business loans. Source
The New York Times is reporting that fintech companies have helped out many small businesses that were struggling during the...
Ron Shevlin takes a deep dive into the new small business lending partnership announced last week between Amazon and Goldman...
Codispoti is a JPMorgan executive who helped create the Chase Sapphire Reserve card; in this Business Insider Q&A she talks about her perspective on millennials, a new bank branch Chase is launching and the learnings from her time creating the Chase Sapphire Reserve. Source
Its platform focused on funding from fans for internet celebrities on YouTube, Twitch and other live streaming platforms; in August it raised 119.5 ether which is about $47,000; the SEC notified Protostarr of its investigation however a final status has not been reported; the firm says forming a legal department to manage the ICO investigation and potential need for registration is not within its short-term plans and it will refund its ICO investors. Source
Fundrise plans to offer a new fund that invests in the development of homes for sale in Los Angeles, California; investors in the fund will be investing in a diversified portfolio of real estate properties in development and for sale with the option to buy homes in the portfolio; investors will receive distributions from the fund's operating cash flow which will primarily be generated from the sale of homes in the fund; distributions may also be made from other sources of cash flow including structured equity or debt. Source
Stash has partnered with Green Dot to help deliver debit cards with no overdraft fees and provide access to a network of free ATMs across the U.S. The app will also help improve customers financial lives and provide advice. Source.
The online lender is now able to originate mortgages in 27 states, with hopes of expanding to all 50 soon; included in their announcement about the New York license was overall originations reached $1 billion in December, $100 million of which were mortgages; SoFi Chief Revenue Officer Michael Tannenbaum said, "The plan is to continue to roll out a state licensing strategy, our licensing strategy mirrored places where there were large jumbo balances."; SoFi also believes their cross buying strategy and the $1 billion infusion from SoftBank has helped them weather the storm of the last year; in a separate announcement, the online lender has moved their office to 860 Washington Street in New York's Meatpacking District. Source
A new startup that allows for ordinary people, with a focus on millennials, to trade options has received early backing...
Grasshopper Bancorp is launching in New York with more than $100mn from investors to challenge Silicon Valley Bank as a...