Category: 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.
FinTech News
Savvy Advisors Platform Surpasses $1 Billion AUM Milestone
by Kyle Burbank
Savvy Wealth's Savvy Advisors platform has announced a major milestone. About Savvy's landmark: This week, Savvy announced that its Savvy Advisors service had surpassed $1 billion in client assets under management (AUM). That total has tripled since the start of 2024. Additionally, in December, Savvy added four financial advisors and now employs 40 advisors. The new additions include the advising team of Cindy Alvarez and Janelle Van Meel, Erin Niehaus,...
FinTech News
Seeking Alpha Partnering with FinTech Brokerage Moomoo
by Kyle Burbank
Investment research platform Seeking Alpha and the FinTech brokerage app Moomoo are teaming up to bring investors a special offer. About the partnership: This week, Seeking Alpha announced a partnership with Moomoo. While the promotion will begin today, it's expected to span three months. During that time, there will be reciprocal benefits for customers of both platforms. First, when Seeking Alpha users open a new brokerage account with Moomoo, they...
FinTech News
Small Business Accounting Platform Bench Shuts Down
by Kyle Burbank
An accounting startup geared toward small and medium-sized businesses has abruptly shut down. About Bench's closure: As TechCrunch reports, the platform Bench has announced its immediate shutdown. The news was shared via the service's website, writing in part, "[T]he Bench platform will no longer be accessible. We know this news is abrupt and may cause disruption, so we’re committed to helping Bench customers navigate through the transition." The message goes...
FinTech News
Varo Bank Now Offers No-Fee Cash Deposits at CVS Locations
by Kyle Burbank
FinTech-turned-bank Varo has announced a new money-saving perk for customers. About the no-fee deposit feature: This week, Varo Bank revealed a collaboration with both Green Dot and CVS that will benefit accountholders. Now, customers can deposit cash into their Varo account at CVS with no fee. In total, there are more than 7,500 participating CVS locations in the United States, although some exceptions include those found in Target stores, within...
FinTech News
SoFi Announces Surpassing 10 Million Member Milestone
by Kyle Burbank
A FinTech giant (and full-fledged bank) has just announced its latest growth accomplishment. About SoFi's milestone: This week, SoFi revealed that it recently surpassed 10 million members. That figure includes nearly 2.5 million members who have joined the platform since the start of calendar 2024. SoFi also reports that, in less than five years, its customer base has grown more than nine fold. Along with this news, SoFi provided some...
FinTech News
Neobank Current Reveals $200 Million in New Capital
by Kyle Burbank
A popular neobank has announced an injection of new capital as it nears profitability. About the funding and more: Current has reported receiving $200 million in fresh capital. These funds came from existing investors Andreessen Horowitz, Wellington Management, and Avenir. New investors General Catalyst and Cross River Bank also participated. Prior to this, Current had raised a total of $402.4 million, including a $220 million Series D in 2021 (led by...
FinTech News
Atlas Card Announces $27 Million in New Funding
by Kyle Burbank
A FinTech offering an invite-only charge card has raised a new round of funding for its premium product. About the funding round: Atlas Card has revealed that it has raised $27 million in financing. The Series B was led by Michael Gilroy and Gokul Rajaram's Marathon, while angel investors such as Eric Schmidt, Olaf Carlson-Wee, and Anton Levy also participated. This comes as, according to Atlas, it has surpassed $200 million in annualized spend volume for...