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San Francisco based challenger bank raised $485m in Series F funding, more than doubling its valuation from December and is worth almost 900% more than just 18 months ago, when it hit a $1.5b valuation.
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“Nobody wants to go into bank branches, nobody wants to touch cash anymore, and people are increasingly comfortable living their lives through their phones,” Britt said. “We have a website, but people don’t really use it. We’re a mobile app, and that’s how we deliver our services.”
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