#PFM / Updraft raises £16m to help Brits break up with their credit cards

Founded by former HSBC executive Aseem Munshi, Updraft has developed a part lending, part credit report, and part financial planning app. The company says it wants to help customers get rid of spend-linked borrowings such as credit cards, overdrafts and increasingly, the buy now, pay later schemes often found on ecommerce sites. Using open bankingContinue reading “#PFM / Updraft raises £16m to help Brits break up with their credit cards”

#SME #PFM / NerdWallet makes second acquisition in 2020 with Fundera

NerdWallet, a credit card marketplace which doubles up as a personal financial management (PFM) tool, is powering on with its small acquisition spree this year. Instead of continuing its UK expansion, the San Francisco-based start-up has gone back to its roots, acquiring Fundera, a New York-based small business loan comparison site. The move sees NerdWalletContinue reading “#SME #PFM / NerdWallet makes second acquisition in 2020 with Fundera”

#PFM / Zopa’s long-awaited credit card is here

Zopa’s colourful card boasts a handful of novel features, including a ‘Safety Net’ option that ringfences part of a customer’s available credit for emergencies, and real-time credit balance updates. The card also includes all the fintech-y features one would expect from a new card+app product in 2020, including instant notifications on purchases, spending categorisation, theContinue reading “#PFM / Zopa’s long-awaited credit card is here”

#PFM #AI / Snoop on track to raise more than £5.7m through Seedrs

The app, launched earlier in April, believes it can save an average household £1,500 annually on bills and subscriptions. Be that with personal banking, insurance, energy, mortgage or telecom providers. The fintech uses artificial intelligence (AI) to scour the internet on behalf of users to find the best deals. All the while, it uses OpenWrk’sContinue reading “#PFM #AI / Snoop on track to raise more than £5.7m through Seedrs”

#PFM / UK challenger Lanistar lands £15m from CEO’s family

Founded last year by Kiziloz, Lanistar is yet to reveal its full product offering… [Kiziloz:] “Lanistar is not only planning to stand out, but step over all the other start-ups in the fintech industry… We have a never-seen before debit card [which we] cannot disclose at this moment and [a] marketing strategy that has neverContinue reading “#PFM / UK challenger Lanistar lands £15m from CEO’s family”

#PropTech / OJO Labs acquires personal finance platform Digs

… Digs is an FDIC-insured platform that helps consumers set and track savings goals, learn about the buying process, and understand credit. With this acquisition, OJO Labs hopes to help homebuyers and homeowners navigate financial responsibilities like saving for a down payment, securing the right lender, building equity and saving for renovations… [OJO Labs:] “TheContinue reading “#PropTech / OJO Labs acquires personal finance platform Digs”

#PersonalFinanceManagement #WealthTech / Robinhood Challenger M1 Finance Closes $45 Million Funding Round

M1 offers a free, customizable, no-minimum and zero-commission investing platform with fractional shares and automation, similar to Robinhood. Where it differs, however, is in its offering of different accounts: brokerage, IRA, trust, and it’s ability to manage and rebalance a customized portfolio over time and its lending and cash management services. But M1 does notContinue reading “#PersonalFinanceManagement #WealthTech / Robinhood Challenger M1 Finance Closes $45 Million Funding Round”

#PersonalFinanceManagement / BoA Expands Into Digital Financial Planning For Consumers

Life Plan can be accessed through the Bank of America mobile app and website. It allows users to select and prioritize their financial goals in areas like finances, family, health, home, work, leisure and giving… Users can create adjustable goals to change along with their priorities, and progress can be monitored through personalized guidelines andContinue reading “#PersonalFinanceManagement / BoA Expands Into Digital Financial Planning For Consumers”

#PersonalFinanceManagement / Venmo Introduces First Ever Credit Card

The new card… gives customers automatic cash back on every eligible purchase, a personalized rewards experience, and the ability to manage the card directly in the Venmo app. Features of the credit card include: [ – ]… intelligent rewards system capable of managing and personalizing each customer’s spending habits… [ – ] … an easyContinue reading “#PersonalFinanceManagement / Venmo Introduces First Ever Credit Card”

#AI #PersonalFinanceManagement / Aussie start-up WeMoney raises $2m

Aussie financial health fintech WeMoney has raised $2 million… WeMoney plans investment in AI and machine learning in 2021 The fintech aims to help people set and achieve financial goals. It tracks pending utility bills and other recurring payments. [Founder] … says that the firm will focus on better ways of analysing the data itContinue reading “#AI #PersonalFinanceManagement / Aussie start-up WeMoney raises $2m”