#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”

#PayTech / After breakup with Visa, Plaid could be eyeing public markets

After Visa’s attempt to acquire Plaid for $5.3 billion fell apart nearly one year after the deal was first announced, industry observers are betting that the startup will nix getting acquired by another company. Instead, Plaid is more likely to go public via a traditional initial public offering, a special purpose acquisition vehicle (SPAC), orContinue reading “#PayTech / After breakup with Visa, Plaid could be eyeing public markets”

#DigitalBanking / Goldman Sachs is mulling acquisitions to bulk up its UK-based digital savings and lending service Marcus

… the bank believes online activity will be central to future growth. This is why its executives are ruling out any deals that involve acquiring branches… the bank has set an “extremely high” bar for deals. They need to be both large and transformational. Marcus as a key for Goldman… The CEO wants to moveContinue reading “#DigitalBanking / Goldman Sachs is mulling acquisitions to bulk up its UK-based digital savings and lending service Marcus”

#BankTech / The 5 Hottest Technologies In Banking For 2021

… The truly “hot” technologies in banking are the ones that financial institutions invest in—not necessarily the ones the pundits talk about… In Cornerstone’s What’s Going On in Banking 2021 study, the top five technologies for 2021 are: 1) Digital account opening; 2) Application programming interfaces (APIs); 3) Video collaboration; 4) P2P payments; and 5)Continue reading “#BankTech / The 5 Hottest Technologies In Banking For 2021”

#LendTech / LendingPoint closes on $125 million investment from Warburg Pincus

The company has developed a financial technology platform that provides financing origination solutions for our e-commerce and point of sale partners, lending institutions, and consumers. CEO Tom Burnside co-founded LendingPoint in 2014 alongside Franck Fatras, Victor Pacheco, and Juan Tavares. They launched the company based on the premise “that the U.S. credit scoring system isContinue reading “#LendTech / LendingPoint closes on $125 million investment from Warburg Pincus”

#BNPL / Max Levchin’s Affirm pops nearly 100% in market debut

Shares of payments company Affirm soared 98% in its initial public offering on the Nasdaq, kicking off what’s likely to be a busy season for market debuts. Founded in 2013 by PayPal co-founder Max Levchin, Affirm has become prominent in the “buy now pay later” space that offers point-of-sale loans. The company allows customers toContinue reading “#BNPL / Max Levchin’s Affirm pops nearly 100% in market debut”

#LendTech / X1 Card raises $12 million for its credit card with limits based on your income

X1 Card is raising a $12 million funding round. The company is building a credit card that sets limits based on your current and future income, not your credit score. Spark Capital is leading the round with Jared Leto, Aaron Levie, Jeremy Stoppelman, Max Levchin and Ali Rowghani also participating. American Express veteran Ash GuptaContinue reading “#LendTech / X1 Card raises $12 million for its credit card with limits based on your income”