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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Square Announces $50 Million Bitcoin Purchase
Square has just made a major investment in cryptocurrency. The Jack Dorsey-led FinTech announced this week that it had purchased 4,709 Bitcoins. With a total price tag of $50 million (which amounts to approximately 1% of Square’s total assets as of the end Q2), this means that the company paid around $10,600 per coin. News…
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Macy’s Invests in Swedish FinTech Klarna
When it comes to investment in FinTech, it’s typically various venture capital firms fronting the money. However, every once in a while, a different kind of investor steps up to the plate. That’s the case with Klarna, which just revealed a deal with a major U.S. department store chain. This week, famed retailer Macy’s announced…
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Gamified Savings Account Yotta Savings Raises $3.3 Million
Can a savings accounts that come with a chance to win a lottery jackpot change the way American consumers save? That’s what Yotta Savings is betting on — and now so are several venture capital firms. As Crunchbase reports, Yotta has just closed a $3.3 million seed round. In addition to some angel investors, the…
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Wirex Reaches Crowdfunding Goal in Just 90 Minutes
Who needs venture capital firms anyway? Apparently not Wirex as the U.K.-based payments company easily smashed its fundraising goal using the platform Crowdcube. This morning, the startup surpassed its initial ask of £1 million ($1.28 million) in less than an hour and a half. The campaign was opened to the general public following a priority…
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IRS Alters 1040 Form to Make Crypto Question More Prominent
Taxpayers who hold, exchange, and transact cryptocurrencies will soon have one fewer excuses for not reporting these activities to the Internal Revenue Services (IRS). According to the Wall Street Journal, the new Form 1040 for the 2020 tax will make it harder to ignore a question about cryptocurrency assets. Now, the question that asks, “At…
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FinTech Credit Card Company Petal Raises $55 Million
Throughout the past few months, at a time when the whole world is feeling disrupted, startups once called “disruptors” have found their services becoming more important than ever. In turn, there seems to be a streak of investments in these companies. Case in point: this week, Petal revealed that it had raised $55 million as…
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20 of the Top FinTech Deals of 2020 (So Far)
In the face of a global pandemic, the FinTech industry continues to thrive. From investment app and mobile wallets to insurtech and digital business tools, companies of all kinds have seen significant growth in 2020, fueled by some impressive investments. With that in mind, today we highlight 20 of the top FinTech megadeals ($100 million+)…
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Savings App Guac Launches Equity Crowdfunding Campaign
Over the past few months, the FinTech industry has seen a slew of funding rounds — including some that have climbed even after their original announcement. While these traditional venture capital-led rounds are certainly the norm, they aren’t the only way for startups to raise funds. Case in point: this week, New World Savings, Inc.,…
