Economic News
Small Business News
Instagram Adds New Feature to Support Small Businesses
With social media becoming an even larger source of communication amid the current pandemic, one top app is continuing to introduce new ways for small businesses to reach their customers — and vice versa. As Adweek reports, Instagram recently announced a new feature that will allow customers to highlight their local small businesses. With the aptly named Support Small Business sticker, users will be able to share Stories about their...
FinTech News
Robinhood Announces $280 Million Funding Round
It looks as though Robinhood is right on target once again. Last week, the stock trading app announced that it had closed a $280 million funding round. The Series F was led by Sequoia Capital, who had previously invested in the company. Other participants marked a mix of returning and new investors, including NEA, Ribbit Capital, 9Yards Capital, and Unusual Ventures. Also notable is that the funding round valued Robinhood...
FinTech News
Brokerage Apps Seeing a Surge of New Investors Amid COVID-19 Crisis
With unemployment now nearing 15% and economic uncertainty abounding, it might not seem like the best time for Millennials and younger adults to start their first-time investing journeys. Alas it seems that that's exactly what many of them are doing. As Axios reports, there are several signs showing that young investors are interested in playing the markets during this turbulent time. First, according to data from App Annie, financial apps...
Small Business News
Survey Reveals What Consumers Look for in a "Go-To" Small Business
With some cities and states beginning to ease restrictions on non-essential businesses, service providers are now hoping that their regulars will soon return. Of course, this begs the question: how do consumers decide which small businesses should become their "go-tos" in the first place? That's what a recent survey by DaySmart Software aimed to find out. For their survey, DaySmart spoke with 2,000 consumers who had visited service-based small businesses...
Economic News
Charles Schwab Announces Fractional Shares Platform "Stock Slices"
Last fall, Charles Schwab shook up the brokerage world by announcing that it would be eliminating its trade commission fees. While this model had previously been tried by FinTech startups such as Robinhood, it was a big deal for a traditional discount brokerage to adopt it. Within a week of the reveal, several other companies followed Schwab's lead, changing the landscape for good and likely influencing the mergers and acquisitions...
FinTech News
Galileo Announces Partnership with Mexican FinTech Klar
With all that's going on in the world right now, international expansion might not seem like the most likely move for most companies. Yet that's what's happening with Utah-based Galileo Financial Technologies. Last week the FinTech announced a new strategic partnership with the Mexico City-based Klar. Klar is a challenger bank that aims to lead the "democratization of financial services in Mexico." That goal got a big jumpstart last year...
Personal Finance News
