News by FinTech Collective

Contributors

The Plaid ‘mafia’ begins with John Whitfield joining student loan fintech startup Summer

Whitfield is joining Summer as its head of engineering. He joined Plaid through the acquisition of portfolio company Quovo last year. 

“At my heart I am a builder,” Whitfield explained to me. He joined Plaid through the startup’s acquisition of financial analytics service...…

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Mastercard names new CEO

Effective at the beginning of 2021, Michael Miebach, Mastercard’s chief product officer, will succeed AJay Banga as CEO, who has served...

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Goldman Sachs led a $55m funding round in South African fintech startup Jumo

South Africa based fintech platform for financial institutions and telecoms has raised $55m in debt and equity funding led by Goldman Sachs.

Jumo’s South African founder Andrew Watkins-Ball, says the company’s “next phase” will see it develop more products and open up shop in...…

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Microverse, a Lambda School for the developing world, raised a $3.2m Series Seed

San Francisco based ISA online coding school for emerging markets raised $3.2m in Seed funding led by General Catalyst.

“The average starting salary for us — it’s of course lower and that’s expected,” said Camus. “The only way we can offer as good or better...…

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Tractable claims $25m to sell damage-assessing AIs to more insurance giants

London based AI visual damage appraisal for insurance raised a $25m Series C led by Canadian investment fund Georgian Partners.

“Our AI solutions capture and process photos and damage and predict repair costs — at scale,” Tractable claims on its website, noting its...…

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Pipe raises $6m to launch new SaaS financing platform

Los Angeles based financing platform for SaaS companies raised $6m in a Seed round led by Craft Ventures.

"Until now, the main financing option for SaaS companies has been dilutive equity rounds," said David Sacks, Co-Founder & General Partner...…

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Softbank leads $100m investment in Behavox, the world’s only end-to-end data operating platform

New York City based compliance for enterprise platform raised $100m in funding from Softbank Vision Fund 2. 

“This investment will allow Behavox to further focus on and invest in the needs of our customers, who are at the heart of everything we...…

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Mantl raises $8m in Series A led by Point72 Ventures

New York based bank account opening software for banks and credit unions raised $8m in Series A funding led by Point72 Ventures.

“We’ve seen a rift where new FinTech companies are able to leverage the latest technologies to grow faster and more efficiently, while...…

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Spain’s Cobee raised €2.1m for its employee benefits app and payment card

Spain based employee benefits and payment card raised €2.1m in “pre-Series A” funding co-led by Speedinvest and Target Global.

“We realized that there is an increasing number of solutions that are being sold as benefits or products to the end employees through...…

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Ally Financial to acquire CardWorks for $2.65b

The acquisition will diversify revenues for Ally and add 2.8m credit card accounts, $3.4b in balances, with an avg. FICO score of 630.

Ally Financial’s CEO, Jeffrey J. Brown, said, “CardWorks represents an industry-leading credit card platform in the U.S., and this...…

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French based EasyEuro secures $4m

France based neobank for SME traders between Europe and Asia raised $4m in venture funding led by Shanghai based Ally Capital

“EasyEuro gives you new passport to manage your business in more than 130 countries and regions. EasyEuro was founded by a group of...…

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Raise named to the a16z marketplace 100

The list includes the largest and fastest-growing consumer-facing marketplaces, including portfolio company Raise ranked 19th.

To answer these questions, we turned to the data—in this case, anonymized, aggregated US consumer spending data captured via credit...…

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Patreon enters the micro-lending game with Patreon Capital

The platform allows creators to earn monetary support from fans and is now supporting creators with non-equity cash advances.

Patreon provided the team with a cash advance of around $75,000 to cover the production budget for the series, with the expectation for...…

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Seattle insurance tech startup n2uitive raises $1.3m

Seattle based insurtech management platform raised a $1.3m Seed round led by Cascade Seed Fund. 

“The recorded statement claims interview process is disjointed and time-consuming for claims adjusters and often interferes with the...…

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Catastrophes and correlations

The problem with a global pandemic bond for financial investors is that it's correlated, as the market goes down so do the value of the...

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Don’t Discount Visa!

Visa’s global business counts more cards, more revenue and more profit than Mastercard, however in investors’ eyes, it is playing catch up!

Investors may be more focused on what comes next in payments. Mastercard has over the past few years spent billions to expand beyond...…

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The promise of synthetic data

It is most often created by funneling real-world data through a noise-adding algorithm to construct a new data set. The resulting data...

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Houwzer raised a $9.5m Series A round for its online real estate platform

Philadelphia based tech-enabled real estate brokerage and home services company raised $9.5m in Series A round led by Edison Partners.

Houwzer claims to be “the first residential real estate brokerage in the country certified as a B Corporation.” This means that the...…

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HouseCanary raised a $65m Series C round to create more efficiency in residential real estate market

San Francisco based home valuation company raised a $65m Series C round co-led by Morpheus Ventures, Alpha Edison, and PSP Growth.

"This latest round of funding will allow HouseCanary to continue to build the most accurate valuations in the housing market, continue to...…

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Kasisto, a conversational AI for financial services, raised a $7m Series B extension

New York based conversational AI startup for financial services raised a $7m Series B extension from Napier Park Financial Partners.

"Since we founded Kasisto, we've been laser focused on developing and delivering the industry's most transformative conversational AI...…

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Real estate startup Homie plans to expand to more cities with $23m in Series B funding

Salt Lake City based real estate startup for first-time homebuyers raised a $23m Series B round from undisclosed backers.

“Buying or selling a home is expensive and time-consuming because of all the different companies you have to work with,” Hanna said in a...…

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Mexico digital bank Stori raised a $10m Series A round extension

Mexico City based consumer digital bank raised a $10m Series A extension co-led by Bertelsmann Investments and Source Code Capital.

Reflecting on Stori's promising signs of success, CEO Bin recounts that "Almost two decades ago, one credit card saved me from financial...…

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NYSE Owner Intercontinental Exchange (ICE) Makes Takeover Offer for eBay

A deal could value the online marketplace at more than $30b. ICE is primarily interested in owning eBay’s core marketplace business.

Acquiring eBay would be an unusual move for Atlanta-based ICE, which in its 20-year history has largely stuck to running marketplaces for...…

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