Category: FinTech News

FinTech News

FinTech Cash Advance Startup Clair Raises $15 Million

by Fioney StaffJun 11, 2021

Another early-stage FinTech investment round is now in the books. This week, Clair announced that it had raised $15 million. The Series A was led by Thrive Capital — a firm which itself recently raised money, closing its Thrive VII fund at $2 billion in February. Some of Thrive's past FinTech investments include Plaid, Robinhood, Lemonade, among others. Turning to Clair, the latest round brings the startup's total funding to...

FinTech News

FinTech Banking App Dave Going Public Via SPAC

by Fioney StaffJun 7, 2021

Another FinTech is going public. Today, Dave announced that it would be merging with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III, Inc. As a result, the startup will become a publicly traded company, with the listing going by the ticker symbol $DAVE. The transaction values Dave at approximately $4 billion and will put $375 million in cash on the combined company’s balance sheet. Since debuting in 2017,...

FinTech News

$SOFI Debuts on Nasdaq Stock Exchange

by Fioney StaffJun 2, 2021

One of the biggest players in the FinTech space is now a publically traded company. Yesterday, SoFi officially hit the Nasdaq stock exchange, trading under the ticker symbol $SOFI. During its first day of trading, the stock closed at $22.65 — up 12%. As of this writing, $SOFI continues to rise today, trading for as much as $24.83 during the day. SoFi's IPO comes after its merger with special purpose acquisition...

FinTech News

FinTech MotoRefi Raises $45 Million

by Fioney StaffJun 1, 2021

As more Americans look to save money on their auto loans, one FinTech is seeing significant growth — and attracting investors. Last week, MotoRefi revealed that it had raised $45 million. The Series B was led by bank Goldman Sachs with additional participation from Motley Fool Ventures, Moderne Ventures, Link Ventures, IA Capital Group, CMFG Ventures, and Accomplice. This comes just four months after MotoRefi's $10 million Series A, which...

FinTech News

Bitcoin Rewards App Fold Raises $13 Million in Funding

by Fioney StaffMay 27, 2021

It looks as though the app Fold is the latest FinTech to cash in on the current crypto craze. Today, the company announced that it had raised an impressive $13 million. The Series A was led by Craft Ventures while M13, Slow Ventures, Bessemer Venture Partners also participated. With the funds, Fold intends to continue building out its rewards platform and also plans to enable other card issuers to offer...

FinTech News

Visa Expands FinTech Partner Connect Program to U.S. and Beyond

by Fioney StaffMay 26, 2021

As FinTech becomes increasingly mainstream, Visa is now looking to facilitate even broader financial technology integrations. Following an initial launch in Europe, the company has announced it will now be expanding the FinTech Partner Connect program to the United States as well as markets in Asia, Africa, Latin America, the Caribbean, and elsewhere. The program aims to help financial institutions discover and partner with vetted FinTech firms. In doing so,...

FinTech News

White Star Capital Closes $50 Million Digital Asset Fund

by Fioney StaffMay 21, 2021

Despite a rough week in the world of crypto, venture capitalists continue to see potential in the space. Case in point: White Star Capital has announced that it's raised $50 million to create a Digital Asset Fund (DAF), which will invest in various blockchain-enabled businesses and crypto networks. Previously, the fund's target was $30 million, but that figure grew as more backers jumped in. Among those backers were Bpifrance and Ubisoft. Running...

FinTech News

Current Announces Partnership with Decentralized Finance Platform Acala

by Fioney StaffMay 18, 2021

As many aspects of money modernize, the lines between FinTech and traditional finance have begun blurring. Similarly, another trend has brought fiat currencies and cryptocurrencies closer together, allowing all kinds of platforms to harness the power of blockchain. With that in mind, two FinTechs have revealed plans to create a "HyFi" platform. This week, the FinTech banking platform Current announced that it would be working with Acala, a decentralized finance...