Category: FinTech News

FinTech News

Payments API Company Finix Raises $75 Million as Series B Expands

by Fioney StaffAug 27, 2020

Continuing what's turning out to be a bit of a trend this year, another FinTech has just announced the expansion of its latest funding round. Earlier this week, Finix revealed that it had added another $30 million to its Series B. The newly-raised money brings the round's total to $75 million. Lightspeed Venture Partners led this portion of the round with American Express Ventures also participating. This is actually the second...

FinTech News

Cross River Bank Reaches Settlement with Colorado Regarding FinTech Partnerships

by Fioney StaffAug 24, 2020

As regular FinTech sector watchers can tell you, there are a handful of company names that tend to come up again and again when new initiatives and partnerships are announced. Cross River Bank is certainly in this category as the institution is a frequent partner for startups. Now, thanks to their part in a recent suit, the bank may have also just played a role in defining how such partnerships...

FinTech News

Robinhood Raises Another $200 Million Amid Rapid Growth

by Fioney StaffAug 19, 2020

Even as the coronavirus pandemic continues to batter the United States economy at large, the stock markets have largely managed to recover. In fact, the S&P 500 reached a record high this week, likely rewarding users who bought during this year's lows. Among these "winners" are users of the free stock trading app Robinhood who famously flocked to the market as it fell. Now it seems that the app itself...

FinTech News

Betterment, SoFi, and Others Form FinTech Equality Coalition

by Fioney StaffAug 17, 2020

Over the past few months, conversations about race and equality have permeated throughout the nation. Now, in an effort to bring these issues to light in the financial technologies community and seek reform, several startups have signed-up to form the FinTech Equality Coalition. The Coalition is being spearheaded by the robo-advisor Betterment but other founding members amount to a "who's who" of FinTech. This includes real estate investment platform Cadre,...

FinTech News

Cash Back App Dosh Expanding "Powered by Dosh" Platform

by Fioney StaffAug 13, 2020

When it comes to FinTech, there are a few different models that startups can follow. Among them is the idea that the company can launch its own platform as proof of concept before offering the backend a la carte for integration with other businesses. Take, for example, online lender OnDeck spinning off its loan application software ODX for use by banks. Now it seems that cash back app Dosh is...

FinTech News

Cryptocurrency Exchange IDEX Announces $2.5 Million Seed Round

by Fioney StaffAug 9, 2020

Just as the FinTech market has been ripe for investment even throughout the pandemic, cryptocurrency-centric startups have also gotten a fair share of attention. Among some recent fundraising efforts are DeFi's $1 million seed round, Chainalysis' $49 million Series B, and the more than $15 million in investments that Celsius attracted via the platform BnkToTheFuture. Now the decentralized crypto trading platform IDEX is the latest startup to bolster their efforts...

FinTech News

Sequoia Found to Be Most Active FinTech VC of the Past Year

by Fioney StaffAug 6, 2020

When it comes to investments in FinTech, a few investment firms tend to come up again and again. But which venture capital group has participated in the most funding rounds as of late? According to CB Insights' latest State of FinTech report, it's Sequoia Capital that's been the most active FinTech VC of the past year (Q2 2019 to Q2 2020). However, there is an asterisk to that as the...

FinTech News

Varo Money Granted National Bank Charter, Forming Varo Bank

by Fioney StaffAug 3, 2020

As several startups have started expanding into banking services, such companies have partnered with existing banks in order to provide FDIC insurance and other benefits to their customers. However, at the same time, some of these businesses have attempted to build their own path by applying for charters — and now one firm has actually earned one. Late last week, Varo announced that it was officially the first consumer FinTech...