FinTech News
Fascinated by the rapidly evolving world of financial technology? Our FinTech news category is your insider’s guide to the most cutting-edge innovations disrupting the finance industry. Get up-to-date coverage on the latest breakthroughs in digital banking, cryptocurrency, investing, and more.
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P2P Lending Platform SoLo Funds Responds to CFPB Lawsuit
After being sued by the Consumer Financial Protection Bureau (CFPB), the FinTech SoLo Funds has now issued a response. About the lawsuit and response: Recently, the CFPB announced that it was suing SoLo Funds, accusing the company of misleading customers about the true costs of loans obtained through the platform. This stems from SoLo’s model,…
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Robinhood Introduces Lowered Margin Interest Rates
The popular investing platform Robinhood has announced new margin rates as it looks to attract advanced traders. About the changes: Robinhood is rolling out new, lowered margin rates. Now, the rates that customers pay will vary by their total margin balance, with these rates ranging from 5.7% to 6.75%. These tiers breakdown like this: This…
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Accounting Infrastructure Startup Teal Raises $8 Million
A FinTech offering accounting infrastructure tools for vertical SaaS businesses to adopt has announced its seed round. About the round: Today, Teal announced that it had raised $8 million. The seed round was led by Torch Capital, while Basis Set Ventures, General Advance, and Dash Fund also participated. Additionally, execs from Plaid, Brex, Gusto, and others…
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Vehicle-Secured Credit Card Company Yendo Raises $165 Million
A FinTech that offers the first-ever credit card secured by a customer’s vehicle has announced its latest round of funding. About the round: This week, Yendo announced that it had raised $165 million. However, this includes $150 million in debt financing and $15 million in equity. The debt portion was led by i80 group, while…
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SoFi Partners with Templum to Expand Alternative Investments
SoFi Invest is set to expand its alternative assets features thanks to a new partnership. About the partnership: This week, Templum announced that it was working with SoFi to bring more alternative investments to the FinTech’s customers. Launched earlier this year, SoFi’s platform now allows users to invest in funds from ARK Venture Fund, Carlyle…
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Insurtech Startup CoverTree Raises $13 Million
An insurtech firm with a unique niche has raised a new round of funding. About the round: This week, CoverTree announced that it recently raised $13 million. The Series A was led by Portage. AV8, Distributed Ventures, Detroit Venture Partners, Ludlow Ventures, Annox Capital, and others also participated. In total, the company has now raised…
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Robinhood Receives Wells Notice From SEC Regarding Crypto
The FinTech brokerage firm Robinhood has announced that it’s received a Wells Notice from the Securities and Exchange Commission regarding its cryptocurrency features. About the notice and Robinhood’s response: In a filing, Robinhood revealed that the SEC has notified the company that it will recommend that the agency file an enforcement action, alleging securities violations.…
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Branded Customer Wallets FinTech Ansa Raises $14 Million
A FinTech that helps businesses create stored value payment programs has raised a fresh round of funding. About the round: Ansa has announced a new $14 million round. The Series A was led by Renegade Partners while Bain Capital Ventures, B37 Ventures, Box Group, and Wischoff Ventures also participated. This latest round comes almost exactly…
