The contact us form is a staple of most websites but buy now pay later startup Afterpay never thought it...
Cross River Bank is looking at new opportunities in business payments; Ben Isaacson of Cross River Bank stated, “Payroll is predominantly set up for traditional salary, ‘regular’ employees. There’s a real opportunity to innovate on that front; businesses can change how their employees get paid to be more consistent with how they’re working.”; they are also looking at how they can better improve payments to suppliers for their customers; Cross River Bank currently works with some of the biggest names in fintech and prides itself as being a technology-first bank. Source
Just a few days ago we learned of Visa buying Plaid and now they have invested in another fintech company;...
SoFi reported record earnings and loan volume in the second quarter with revenue of $134 million, adjusted EBITDA of $61.6 million and loan volume of $3.1 billion; in earnings comments, SoFi's CEO, Mike Cagney, was more optimistic about a public offering, mentioning it as a part of a long term plan involved with the search for a new CFO; Cagney also discussed options for offering banking products and said he was optimistic about the approval of the company's application for an industrial loan charter. Source
StreetShares has announced a $10.3 million fundraising; the US marketplace lender specializes in funding business loans to companies managed by veterans; the platform has a range of product offerings with loans issued for $2,000 to $100,000. Source
Fintech solutions are helping to lower the barrier to entry for women in emerging markets and the tools are beginning...
Bloomberg reports on Goldman Sachs’ new San Francisco office culture which has no dress code and offers kombucha in the break room; Jeff Winner was hired this year to run the office which aims to employ 80 people; Winner leads the engineering team behind their successful consumer brand Marcus; with their new office location they will compete for talent from names like Google and Amazon. Source
Coming up with a 20% down payment on a home can be quite a challenge, San Francisco based Unison is looking to offer help to these prospective buyers; a Unison deal typically involves the homebuyer putting down 10%, Unison putting down 10% and the remaining 80% would be borrowed; Unison charges a 2.5% fee and shares in 35% of future appreciation or depreciation; this allows for the homebuyers to keep payments lower and save on private mortgage insurance (PMI), which is required if the loan to value exceeds 80%; "We are partnering with the homeowners by investing alongside them in the house," Unison Co-CEO Jim Riccitelli told the San Francisco Chronicle; the Unison offering looks to replace local bay area assistance programs offered to lower income household and first time buyers. Source
Upstart's Dave Girourad talks with TechCrunch about the company's new fundraising round which is adding new capital of $32.5 million; the new capital brings total funding to $85 million and this round's investors included Rakuten, Third Point Ventures, Khosla Ventures and First Round Capital; the fundraising will help the firm launch a new software as a service product called Powered by Upstart, an extension of its proprietary credit underwriting platform which utilizes machine learning and modern data science; Upstart will be releasing the new product at LendIt USA 2017. Source
Sharon Miller, head of Bank of America’s small business banking, sat with TearSheet to talk about hiring, technology and what’s...