Category: FinTech News

FinTech News

Mortgage Company Rocket Announces Initial Public Offering

by Fioney StaffJul 31, 2020

It looks as though a major FinTech initial public offering is just around the corner. Rocket Companies (referred to as either “formerly known as Quicken Loans” or “the parent company of Quicken Loans” depending on who you ask) will offer 150 million shares of Class A common stock as part of its IPO. Currently, the price per share is set to be between $20 and $22, which would raise as...

FinTech News

Revolut Adds $80 Million to Series D Funding Round

by Fioney StaffJul 28, 2020

For most startups, securing capital requires soliciting funding. Yet, as some FinTechs become more established, the funding offers may just come to them. That seems to be the case with Revolut, which has just expanded its latest round. London-based FinTech Revolut has revealed that it’s added $80 million to the Series D it originally announced in February. The additional funds come from TSG Consumer Partners, who join the previously $500...

FinTech News

Button Partnering with Bits of Stock for Stock Back Offering

by Fioney StaffJul 24, 2020

So far, despite being a less-than-stellar year overall, 2020 has been remarkably bright for FinTech. In addition to big acquisitions and major funding rounds, there have also been several exciting partnerships that have formed in recent months. Joining that list are Button and Bits of Stock, who are now teaming up to boost brand loyalty and reward customers. Using Button's technology, Bits of Stock allows users to earn fractional shares...

FinTech News

DeFi Protocol Startup Teller Raises $1 Million

by Fioney StaffJul 21, 2020

You may not have heard of the startup Teller just yet but it seems they won't be silent much longer. Having recently participated in A16z's Crypto Startup School, the company is looking to disrupt both the decentralized finance (DeFi) and lending markets — and will now have some venture capital with which to do so. Last week Teller announced it had raised $1 million in funding. The seed round was...

FinTech News

Private P2P Payment App Mezu Announces Impending Shut Down

by Fioney StaffJul 20, 2020

Recently it seems as though the FinTech industry has been on a bit of a hot streak. Between major acquisitions and impressive funding rounds, there's been plenty of good news to go around for startups in the space. Unfortunately, that hasn't been the case across the board as there have been some casualties. The latest example of this is the Cleveland-based peer to peer payment app Mezu. Over the weekend,...

FinTech News

Lemonade Expands into Pet Insurance Market

by Fioney StaffJul 16, 2020

In recent years, the insurtech company Lemonade has made a splash while helping to popularize renters insurance policies in America. Now the company has branched out into another under-utilized policy option: pet health insurance. Speaking to TechCrunch, Lemonade CEO Daniel Schreiber explained that 70% of their current renters/homeowners insurance policyholders have pets. Despite this, the vast majority of American pet owners don't have pet insurance, with only as much as...

FinTech News

Robinhood Adds to Latest Funding Round for $600 Million Total

by Fioney StaffJul 14, 2020

The popular trading app Robinhood has just announced that it's raised even more money. As TechCrunch reports, the FinTech has more than doubled its previously declared $280 million Series F by raising another $320 million. Following this round, the investment platform is now valued at $8.6 billion. For the record, the additional funds were raised at the same valuation as the rest of the round, although the extra cash has...

FinTech News

SoFi Re-Applies for a National Bank Charter

by Fioney StaffJul 13, 2020

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 said, some restructuring may be in order due to SoftBank's large investment in the FinTech....