#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”

#LendTech / Starling renews search for non-bank European lender

In an interview with Sifted this week, Boden said the UK challenger was actively searching “for lending businesses to buy”. This includes peer-to-peer (P2P) lenders, as well as small business lenders. Starling’s deposit base passed £3 billion back in July 2020, up from £600 million in July 2019… Last year, Starling deployed millions into consumerContinue reading “#LendTech / Starling renews search for non-bank European lender”

#CryptoCurrency / CoinSwitch Kuber’s $15m Series A marks Ribbit Capital’s first Indian crypto deal

Ribbit Capital, the Palo Alto-based backer of Revolut, Robinhood and Affirm, has led its first Indian cryptocurrency deal. The start-up began as CoinSwitch in 2017, a global aggregator of crypto exchanges. It removed the need for businesses to create an account on an exchange… The Kuber platform launch was designed to simplify crypto investments forContinue reading “#CryptoCurrency / CoinSwitch Kuber’s $15m Series A marks Ribbit Capital’s first Indian crypto deal”

#PFM / Dubai-based Bankiom promises “new way” to manage money

Bankiom offers a card “accepted worldwide”, the ability to send and receive money through chat apps like WhatsApp, and instant payments. According to the firm, customer accounts can activate in under three minutes, and loan applications approved in 60 seconds. The fintech says it is a “new way to manage your money” from a firmContinue reading “#PFM / Dubai-based Bankiom promises “new way” to manage money”

#BankTech / Irish banks plan payments rival to take on fintech entrants

A group of major Irish banks are banding together to create a payments app rivalling fintechs like Revolut. According to The Irish Times, the system allows bank customers to transfer their funds quickly and easily between accounts. The group of banks are open to others in the industry joining them in the new joint venture.Continue reading “#BankTech / Irish banks plan payments rival to take on fintech entrants”