Category: FinTech News
FinTech News
Stori Reaches Unicorn Status with $50 Million Equity Round
by Fioney Staff
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
by Fioney Staff
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... FinTech News
FinTech Firm Asset Class Raises $11.6 Million Funding Round
by Fioney Staff
A financial technology company that aims to help "democratize private capital investing" has just gained an investment of its own. This week, Asset Class announced that it had raised $11.6 million in funding. The Series A was led by Canapi Ventures, which is a FinTech-focused VC. New and returning investors including Live Oak Ventures, Plexus Capital, and Total Technology Ventures also participated. This round follows a $3 million seed round... FinTech News
Klarna Officially Closes $800 Million Down Round
by Fioney Staff
The popular "buy now, pay later" app Klarna has confirmed its latest investment round. Following reports last week, the FinTech has now officially announced that it's raised $800 million in funding. The round builds upon a $639 million venture round the company closed in June 2021. However, while the earlier round valued the company at $45.6 billion, the latest raise cut that valuation to $6.7 billion. Like many other BNPL... FinTech News
Zilch Adds $50 Million to Latest Funding Round
by Fioney Staff
Despite some reversals of fortune in FinTech as of late, a growing U.K.-based firm has announced an additional investment. Recently, Zilch announced that it had extended its round with an additional $50 million in funding. The added funds bring their Series C to a total of $160 million, while the company has now raised $460 million in equity and debt to date. The extended funding round comes on the heels... FinTech News
Cash App Introduces Round-Up Investing Feature for Debit Card
by Fioney Staff
Debit card customers looking to grow their investments gained a new, automated option today as Block Inc. (formerly Square Inc.) officially announced a new feature for its popular Cash App. Now, customers with the Cash App Cash Card can opt into Round Ups as a means of growing their investments. When this feature is toggled on, Cash App will round up debit card purchases to the nearest dollar and invest... FinTech News
Marqeta Expands Credit Program with New APIs and More
by Fioney Staff
A FinTech that specializes in creating credit card experiences is rolling out some new features. This week, Marqeta announced what it calls a "significant expansion" of its credit platform. This includes more than 40 new credit APIs that will further help clients craft and launch their own credit card products. Additionally, the company notes an updated intuitive dashboard. Using this platform, businesses can create unique card options that can not...