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New Financial Services

Selected news clippings
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financial services

#DigitalBanking / NuBank’s $750 Million Funding Round Proves Digital Challengers Are Still in the Game

Today’s round was led by Berkshire Hathaway, which contributed $500 million… NuBank was founded in 2013 to serve the underbanked population across Brazil, a group that adds up to 30% of the country’s population. Today, the digital challenger has 40 million customers and offers a robust range of banking services including a debit card, insurance,Continue reading “#DigitalBanking / NuBank’s $750 Million Funding Round Proves Digital Challengers Are Still in the Game”

#PayTech / Payment infrastructure provider Marqeta IPOs above range at $27

Marqeta, launched in 2010, provides software for companies to provide and manage their own credit cards. The company draws almost 70% of its revenue from payment processor Square, pulling that money from net interchange fees set by the card networks and paid by card holders… Although lead underwriters Goldman Sachs and JPMorgan priced the companyContinue reading “#PayTech / Payment infrastructure provider Marqeta IPOs above range at $27”

#BNPL / Splitit BNPL to be embedded in ChargeAfter POS

Splitit… the company empowering consumers to use their existing line of credit to pay in installments, announced a partnership with ChargeAfter, the leading global network of personalized buy now pay later (BNPL) and point-of-sale financing for merchants, adding Splitit to complement its existing portfolio of consumer financing offerings. Merchants using ChargeAfter can now offer theirContinue reading “#BNPL / Splitit BNPL to be embedded in ChargeAfter POS”

#BNPL #FinancialInclusion / Kafene raises $14M to offer buy now, pay later to the subprime consumer

The buy now, pay later frenzy isn’t going anywhere as more consumers seek alternatives to credit cards to fund purchases. … A new fintech company is out to help consumers finance big-ticket items that are considered more “must have” than “nice to have”… More specifically, Kafene is focused on helping consumers with credit scores belowContinue reading “#BNPL #FinancialInclusion / Kafene raises $14M to offer buy now, pay later to the subprime consumer”

#WealthTech / Scalable Capital fundraise gives Germany its sixth fintech unicorn

Europe’s largest digital wealth manager Scalable Capital announced Wednesday that it has raised a $180m Series E, making it the sixth German fintech unicorn. The round was led by Chinese technology company Tencent, which has also backed local fintechs like N26, Lydia and TrueLayer… “We see huge demand to invest money in the capital marketsContinue reading “#WealthTech / Scalable Capital fundraise gives Germany its sixth fintech unicorn”

#LendTech / Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger

Launched in 2017, Dave is an app used to help Americans avoid billions of dollars in overdraft fees charged by traditional banks. It currently has 10 million customers. The deal with special-purpose acquisition company (SPAC), VPC Impact Acquisition Holdings III Inc (VPCC.N), includes a $210 million investment led by Tiger Global Management, with additional participationContinue reading “#LendTech / Mark Cuban-backed banking app Dave to go public in $4 bln SPAC merger”

#Cards / Marqeta Aims for Valuation of More Than $12 Billion. The IPO Is Next Week.

Marqeta, the technology platform for card issuers, is going public next week. Marqeta is scheduled to price its deal on June 8 and trade the next day, a person familiar with the situation said. With roughly 530.2 million Class A and Class B shares outstanding, Marqeta could be valued at more than $12 billion. GoldmanContinue reading “#Cards / Marqeta Aims for Valuation of More Than $12 Billion. The IPO Is Next Week.”

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