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Selected news clippings
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financial services

#PropTech / Perenna raises $10m to bring fixed for life mortgages to the UK

Taking inspiration from the Danish mortgage model, Perenna is building a lender which will use long-term covered bonds to finance its products. This, says the startup, means it will be able to issue 30-year fixed-rate mortgages at highly competitive rates, while giving customers the flexibility to port their mortgage should they want to move andContinue reading “#PropTech / Perenna raises $10m to bring fixed for life mortgages to the UK”

#Digital Banking / Fintech Challengers in the US Grew Customer Base by Nearly 40%, UK Digital-Only Banks Report Growth as Well

US-based digital bank Chime, which currently leads the challenger banks, saw its client base grow from 8 million to 10 million in only a year. Meanwhile, Acorn saw an increase from 6.2 million to 8 million customers, and neobanking platform Dave’s user base grew from around 5 million to 7 million in just the pastContinue reading “#Digital Banking / Fintech Challengers in the US Grew Customer Base by Nearly 40%, UK Digital-Only Banks Report Growth as Well”

#PropTech #DLT / Figure Lending lands $100M funding facility

SoFi co-founder Mike Cagney’s latest digital mortgage operation Figure Lending closed on a $100 million funding facility from JPMorgan Chase… The warehouse facility will allow the company, a subsidiary of Figure Technologies, to originate conventional loans as well as jumbo loans… “This facility with J.P. Morgan will help us continue to innovate in the lendingContinue reading “#PropTech #DLT / Figure Lending lands $100M funding facility”

#BankTech / GM, Goldman and Mastercard agree credit card partnership

General Motors, Goldman Sachs and Mastercard have agreed a multi-year relationship for co-branded rewards-based credit cards. Goldman Sachs beat out competition from Barclays late last year to buy GM’s credit card business in a deal worth around $2.5 billion. Mastercard will continue to act as the network of choice when Goldman starts acting as issuingContinue reading “#BankTech / GM, Goldman and Mastercard agree credit card partnership”

#BankTech / MX ties up $300m in Series C funding

MX provides account aggregation services to banks, credit unions, and fintechs. It claims its systems enhance financial data to reduce fraud, approve loans faster, and help clients invest. The firm claims more than 2,000 customers, and 30 million end customers. “The financial industry is at an inflection point as organisations look to become not onlyContinue reading “#BankTech / MX ties up $300m in Series C funding”

#BankTech / Goldman picks Marqeta to power Marcus current account rollout

Goldman Sachs has signed a deal with card issuing firm, Marqeta, which sees the latter underpin the bank’s Marcus current accounts. Marcus, Goldman Sachs’ digital banking offshoot, is planning to launch current accounts in 2021. The bank says they are a “cornerstone of the company’s growing consumer portfolio”. Marqeta is providing its open APIs andContinue reading “#BankTech / Goldman picks Marqeta to power Marcus current account rollout”

#CryptoCurrency / Gemini to Offer Credit Card with Crypto Rewards

Gemini, a crypto exchange and custodian… will launch the Gemini Credit Card, a credit card with cryptocurrency rewards. This effort has been accelerated by the acquisition of Blockrize, a fintech startup that has been building a credit card with cryptocurrency rewards… “The Gemini Credit Card will make it easier for any consumer to invest inContinue reading “#CryptoCurrency / Gemini to Offer Credit Card with Crypto Rewards”

#PayTech / UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm

A fund run by UBS’s asset management arm is in discussions to buy a stake in Paytm alongside some of the Swiss bank’s clients… UBS aims to finalize an agreement as soon as this month, though talks could still be delayed or fall apart… India’s rapidly-growing market has attracted global investors keen to capitalize onContinue reading “#PayTech / UBS Fund Pursues $400 Million Stake in SoftBank-Backed Paytm”

#EmbeddedFinance / Rapyd raises $300M on a $2.5B valuation to boost its fintech-as-a-service API

Rapyd, which provides an API-based “fintech-as-a-service” platform covering payments, banking services, fraud protection and more, has raised $300 million, funding that … will be used to expand its team, build out more technology… and make selected acquisitions. Rapyd’s customer base now numbers about 5,000 businesses, which includes marketplaces (labor marketplaces and marketplaces for goods), e-commerceContinue reading “#EmbeddedFinance / Rapyd raises $300M on a $2.5B valuation to boost its fintech-as-a-service API”

#LendTech / Blend raises $300 million Series G at $3.3 billion valuation

Blend has steadily grown to be a powerhouse in the mortgage tech industry, facilitating $1.4 trillion in mortgages and consumer loans in 2020. The company’s white-label technology is what powers mortgage applications on the site of banks such as Wells Fargo and U.S. Bank with the goal of making the process faster, simpler and moreContinue reading “#LendTech / Blend raises $300 million Series G at $3.3 billion valuation”

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