FinTech News
Credit Card News
Chase and Instacart Officially Launch Co-Branded Credit Card
Earlier this year, Chase and the popular grocery delivery service Instacart revealed that they were collaborating on a co-branded credit card. Now (after a false alarm yesterday), the offering has officially launched. Introducing the Instacard Mastercard. With the new Instacart Mastercard, customers will earn 5% cashback on purchases they make from Instacart. This includes delivery and pick-up orders at more than 70,000 stores across the nation. Additionally, cardholders will earn...
FinTech News
TomoCredit Closes $122 Million Funding Round
With credit card interest rates on the rise, a company that offers an alternative credit product has announced a new injection of capital to continue its mission. Today, TomoCredit revealed that it had raised $122 million in its latest funding round. That total includes $22 million in Series B equity and $100 million in debt financing. The equity portion of the round was led by Morgan Stanley's Nex Level Fund...
Small Business News
Surveys Show Small Business Burnout Rising, Optimism Falling
Throughout the more than two years that the pandemic has gripped the United States, America's small businesses have shown time and time again how resilient they are. In fact, several surveys have shown continued optimism on the part of business owners. Unfortunately, with fresh economic threats mounting, more recent reports display increased frustrations. According to a survey from Podium (conducted by Censuswide), 72% of small business owners stated that they...
FinTech News
X1 Credit Card Prepares for Public Launch, Raises $25 Million
Nearly two years ago, a new "smart credit card" called X1 was teased to consumers. Now, the card's wide launch to the general public is nearly upon us. Ahead of that, the company behind the product has also announced an impressive investment round. This week, X1 Card revealed that it had raised $25 million. The Series B was led by FPV Ventures, while other participants included Craft Ventures, Spark Capital,...
FinTech News
Stori Reaches Unicorn Status with $50 Million Equity Round
A company looking to bring credit availability to consumers in Latin America is now Mexico's newest "unicorn." Stori has announced that it's raised $150 in funding. This includes a $50 million Series C-2 led by BAI Capital, GIC, and GGV Capital with participation from Lightspeed Venture Partners, General Catalyst, Vision Plus Capital, Goodwater Capital, Tresalia Capital, and Davidson Kempner Capital Management LP. The other $100 million is a debt facility arranged...
FinTech News
Crypto Lender Celsius Files for Chapter 11 Bankruptcy Protection
Following a turbulent month, the crypto lender Celsius has announced that it's filed for Chapter 11 bankruptcy protection. According to CNBC, the company has more than 100,000 creditors, including individual customers. The filing also notes that the company has $167 million in cash on hand as it continues to operate. In a statement, Celsius co-founder and CEO Alex Mashinsky said of the filing, “This is the right decision for our...
Credit Card News
