Get Wise: Business Banking Gains a New Challenger

Whatever benefits the challenger bank revolution may bring to retail banking customers, the opportunities these neobanks provide to small businesses may be even more significant. In fact, there is a growing cadre of digital-first challengers who have decided to put innovating on behalf of small business banking at the top of their priorities. One such Read more…

Splitit Raises Millions Amid Buy Now Pay Later Fever

If there are any lingering doubts about the power (and popularity) of the Buy Now Pay Later (BNPL) movement, installment payments platform Splitit has 71.5 million reasons to cast those doubts aside. The New York-based company, which made its Finovate debut as PayItSimple in 2014, announced that it has raised $71.5 million in a private Read more…

Revolut Adds $80 Million to Series D; Valuation Remains at $5.5 Billion

The only thing better than receiving a $500 million investment in February may be getting another $80 million in funding five months later. Alternative bank Revolut announced late last week that TSG Consumer Partners is the latest investor to join its Series D round. The $80 million investment from the VC firm takes the London, Read more…

Why an AI Center of Excellence is the Key to Success

The following is a guest post by Wilson Pang, Chief Technology Officer of Appen. Becoming an AI-first Organization in Finance Many global organizations are recognizing artificial intelligence (AI) as a core component of their business. In fact, three out of every four companies surveyed in The 2020 State of AI and Machine Learning Report consider Read more…

Zopa Gains Insight into Loan Customers’ Affordability

P2P lender and challenger bank Zopa recently formed a partnership with Paylink Solutions to tap into the company’s cloud-based digital income and expenditure product, Embark. Paylink’s Embark will help Zopa quickly find the most suitable loan product for clients by understanding their affordability. The tool taps into credit report data and leverages open banking technology Read more…

Robinhood Raises $320 Million En Route to $8.6 Billion Valuation

Now we know why the men (and women!) around Robinhood are so merry. The mobile trading and investing platform announced this morning that it has secured $320 million in additional funding. Combined with the $280 million the company raised earlier this year as part of its Series F round, Robinhood now has raised more than Read more…

Bankjoy Inks a Pair of Credit Union Partnerships

Michigan-based Bankjoy announced a pair of new credit union partners late last week. The company, which enables credit unions and community banks to offer their members and customers a variety of mobile banking and online banking solutions, will work with both CACL Federal Credit Union of Pottsville, Pennsylvania, and SIU Credit Union of Carbondale, Illinois, Read more…

Canadian Data Aggregator Flinks Raises $11 Million in Funding

Flinks, a startup based in Montreal, Quebec, Canada, that specializes in data aggregation for financial services, has secured $11 million in Series A funding. The investment was led by NAventures, the VC arm of National Bank of Canada, which also provided $5.2 million in debt financing. Also participating in the round were Intact Ventures, Luge Read more…

Chainalysis Raises $13 Million for Crypto Intelligence

Blockchain analysis company Chainalysis is on a mission to promote trust and transparency for cryptocurrencies. Aiding that undertaking today is an additional $13 million in funding to add to its Series B round. The new investment comes from Ribbit Capital and Sound Ventures and brings Chainalysis’ Series B round to $49 million. The New York-based Read more…

solarisBank Raises $67 Million; More MENA Fintech; What’s Next for Wirecard

Berlin, Germany-based “tech company with a banking license” solarisBank has secured $67 million in funding (€60 million). The Series C round was led by HV Holtzbrinck Ventures and Storm Ventures, and featured participation from a wide number of investors including BBVA, ABN Amro, SBI Group, Global Brain, Hegus, and Lakestar. Also participating in the oversubscribed Read more…

Zeller Raises $4.4 Million to Change the World of Business Banking

Business banking services provider Zeller launched earlier this year to offer businesses in Australia a new way to bank. Heading up the new company is ex-Square duo Ben Pfisterer and Dominic Yap, which just revealed a round of funding Zeller landed earlier this year. The investment, which closed before the emergence of the coronavirus, totaled Read more…