#LenTech / Tech Platform CURO Set to Acquire Canadian Point-of-Sale Prover Flexiti For $121 Million

… the acquisition of Flexiti further diversifies CURO’s revenue mix by product and geography and accesses the full spectrum of Canadian consumers by adding an established omnichannel private label credit card platform and POS financing capabilities. “Flexiti primarily serves prime consumers and the combination presents significant revenue and earnings growth opportunities by using CURO’s expertiseContinue reading “#LenTech / Tech Platform CURO Set to Acquire Canadian Point-of-Sale Prover Flexiti For $121 Million”

#OpenBanking #LendTech / UK fintechs Token and Tradeteq get investment

Open banking payments platform Token and trade finance tech specialist Tradeteq have landed $15 million and $9.4 million, respectively. [Token:] “The capital enables Token to continue driving the shift from traditional payment methods to account-to-account payments by providing the fastest and simplest path to adoption for large merchants, PSPs and banking-as-a-service platforms.” Its use casesContinue reading “#OpenBanking #LendTech / UK fintechs Token and Tradeteq get investment”

#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”

#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 / 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”

#LendTech / Amex Ventures invests in employment verification startup Truework

Startup was founded with the mission of giving consumers greater control over their professional and personal data A slew of other high-profile VCs and angel investors have put money in the company, including Sequoia Capital, Khosla Ventures and executives such as LinkedIn founder Jeff Weiner and Plaid co-founder William Hockey, among others. Amex Ventures’ self-describedContinue reading “#LendTech / Amex Ventures invests in employment verification startup Truework”

#LendTech / Wolters Kluwer snaps up cloud-based lender eOrignal for €231m

The US-Dutch acquirer wants to extend its lending compliance solutions in the US, from document generation and analytics to digital loan closing and storage adjacency. The buyer will purchase eOriginal’s parent company, Paperless Transaction Management, as part of the deal. Its subsidiary has some 100 employees. “The acquisition positions us as the leading provider ofContinue reading “#LendTech / Wolters Kluwer snaps up cloud-based lender eOrignal for €231m”

#LendTech #BaaS / Stripe To Offer Banking As A Service To Merchants On Its Platform

On Thursday (Dec. 3), the company pulled the wraps off of Stripe Treasury. The new venture will work with Citigroup, Goldman Sachs, Barclays and other financial institutions (FIs) to offer debit cards, bank accounts and other products to the online merchants and vendors who rely on Stripe’s payments processing platform. This is Stripe’s latest bigContinue reading “#LendTech #BaaS / Stripe To Offer Banking As A Service To Merchants On Its Platform”

#LendTech #AltFi / It’s beginning to look a lot like banking …

… FinTech companies are known for their success in payments but the first one I ever met, Zopa, focused on lending… Their platform was immune to regulations, however, because it connected people with money to people who needed money instead of loaning money themselves. We know this as peer-to-peer (P2P) lending now but, 15 yearsContinue reading “#LendTech #AltFi / It’s beginning to look a lot like banking …”