News by FinTech Collective

Contributors

JPMorgan Rolls Out Robots to Scrutinize Banker Travel, Expenses

The bank has started using machine learning technology to process expense reports and determine whether they comply with company policies.

“We basically have eliminated manager approvals,” she said Wednesday at a conference in New York. “We’re doing 100% of audit through a...…

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Agtech startup, Bushel, raised a $19.5m Series B

North Dakota based agtech platform for agriculture raised a $19.5m Series B round led by Continental Grain Company.

Offered through elevator-branded apps, Bushel powers real-time scale tickets, contracts, commodity balances, futures, prepaids, cash...…

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Kraft Heinz-backed venture arm leads $12m investment in cashierless checkout startup Zippin

San Francisco based cashier-less checkout startup raised $12m led by Evolv Ventures, the venture hub backed by Kraft Heinz.

“When we launched the Zippin platform for retailers in 2018, we removed friction from the checkout process. With the Zippin Cube, we are...…

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Camino Financial, a digital SMB lender focused on the Latino community, closes $8m Series A round

Los Angeles based digital lending platform for small Latinx businesses raised $8m in Series A funding led by Crédito Real.

"Data is power, we are excited to be using our platform to build the largest pool of application and performance data on underbanked U.S....…

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Berlin based insurtech unicorn, Wefox, raised $110m Series B extension

Berlin based insurtech platform raised $110m in a second tranche of a Series B at a $1.65m pre-money valuation led by Omers Ventures.

Perhaps more significantly, Teicke says One’s loss ratio (what percentage of premiums earned is subsequently paid out in claims) is below...…

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Experian announces credit score product combining traditional credit data with alternative data

Experian Lift, which will be available to lenders in 2020, enhances predictive performance by 23% when compared to other scores.

"Knowing how a consumer is managing credit at a single point in time only tells part of the story. By looking at historical payment...…

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Reorg acquires Dai1 Media to expand Asia coverage

FinTech Collective alum acquires Asian media outlet covering regional deal-making for companies and assets based in China.

"As part of our global growth strategy, Reorg has invested heavily in Asia over the last 12 months.  We are delighted to bring the Dai1...…

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Mexican lender Konfio raises $100m from SoftBank

Mexico City based lender raised $100m from Softbank, three months after raising $100m in debt financing from Goldman Sachs.

Konfio uses a data-first approach to enable fast credit assessment for SMBs looking to grow their businesses. The service can disburse...…

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British lender NatWest has launched a digital bank to compete in the U.K.’s thriving fintech space.

NatWest is a subsidiary of RBS and launched the digital bank Bo on a separate cloud based infrastructure.   

“As we’re part of NatWest, people can rely on Bo to keep their money safe,” Bo CEO Mark Bailie said in a press release Wednesday. “But as...…

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London payroll platform Hastee raised £8m

London based payday loans startup raised £8m led by Umbra Capital and also secured £200m in debt financing.

"This investment will help us support a greater number of organisations in reducing financial stress, increasing wellbeing and improving...…

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