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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SoFi Re-Applies for a National Bank Charter
SoFi — short for “Social Finance” — is ready to become a bank. This week, the FinTech filed for a national bank charter with the Office of the Comptroller of the Currency (OCC). In their application, SoFi says having its own bank charter would help lower their funding costs by simplifying their business model. That…
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FinTech nCino Plans Initial Public Offering
It looks as though another FinTech initial public offering could soon be upon us. This week, nCino announced plans to go public. As TechCrunch reports, the firm is currently eying a share price between $22 to $24. With nCino planning to issue 7.625 million shares, the IPO could raise as much as $183 million and…
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Chainalysis Announces Expansion of Series B to $49 Million
The blockchain analysis company cleverly named Chainalysis has just upped its latest funding effort. Originally announced last year as a $36 million round with participation from Accel, Benchmark, MUFG, and Sozo Ventures, Chainalysis has now expanded the Series B by $13 million. The additional investments come from Ribbit Capital and Sound Ventures. As part of the deal,…
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Galileo Officially Launches Galileo Instant for Debit Card Creation
One major trend seen in the FinTech industry in recent years has been the roll-out of branded debit cards. Now, Galileo is looking to make creating such offerings even easier. Recently, the company announced the official launch of Galileo Instant after originally debuting a beta of the program in November of last year. According to…
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Empower Retirement To Acquire Personal Capital for Up to $1 Billion
The FinTech personal finance and investment tracking platform Personal Capital has just announced a big exit. This week, the company revealed that it is being acquired by retirement plan recordkeeper Empower Retirement. This acquisition will cost Empower up to $1 billion, with $825 million coming at closing and a contingency bonus of up to $175…
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Mastercard to Acquire FinTech Firm Finicity
To most people, companies such as Visa and Mastercard are viewed as institutions akin to banks. In reality, each of these firms consider themselves to be technology companies — or FinTechs, even. It should come as no surprise then that each card company has been looking to expand their offerings, both by partnering with and…
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Upgrade Raises $40 Million in Latest Funding Round
Once again setting aside fears that the coronavirus crisis would cripple FinTech investment, another notable deal was announced this week. This time it was Upgrade disclosing new funding, with the San Fransisco-based company revealing a $40 million round. Upgrade’s latest round — a Series D — was led by Santander InnoVentures, which is the VC…
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Credit Sesame Completes Acquisition of STACK
Following several notable deals so far this year, it looks like FinTech’s M&A streak is continuing, with Credit Sesame emerging as the latest buyer. This week, the company announced that it had completed its acquisition of Canadian challenger bank STACK. Previously, the two companies had collaborated to introduce Sesame Cash — a free digital bank…
