ZenBusiness, an Austin, Texas-based company that specializes in serving micro-businesses, announced late last week that it has closed its first acquisition. The company has purchased fintech platform Joust in a move that will bring Joust’s business banking features to the ZenBusiness platform, and enable the firm to re-launch as ZenBusiness Money later this year.

The terms of the acquisition were not disclosed.

CEO and co-founder of ZenBusiness Ross Buhrdorf called the acquisition an opportunity to extend its “mission to provide the nation’s 57 million micro-businesses with exceptional and friendly tools that simplify the process of forming and running their business.” Founded in 2015, ZenBusiness helps entrepreneurs complete the necessary filing and paperwork to ensure compliant formation of their business, and provides a variety of additional services – from identity theft protection and business management tools – to help micro-businesses grow and expand.

Also based in Austin, Texas, Joust offers merchant services and business banking for entrepreneurs, freelancers, and the self-employed. The company, which merged with LoanDolphin earlier this year to scale mortgage reverse auctions, was a finalist at the 2020 SXSW Innovation Awards, and raised $11 million in funding prior to its acquisition by ZenBusiness. Joust was launched in 2017.

“We believe all entrepreneurs should have access to the same banking services reserved for large companies,” former CEO and Joust co-founder Lamine Zarrad said. “By bringing our financial tools to the ZenBusiness platform, we will quickly scale up and empower even the smallest businesses by simplifying and strengthening their daily operations while protecting their interests.”

ZenBusiness has raised $19.5 million in funding from 11 investors including Greycroft and Lerer Hippeau. The company was featured last December by The Jeruslem Post in its look at the top seven business formation services in the U.S.

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It’s been a good year for Varo Money. The company became the preferred destination for clients leaving Moven this spring, when the fintech announced that it was pivoting away from consumer banking in favor of a focus on its financial wellness technology.

A few months later, Varo reported a massive investment of $241 million in Series D investment, taking the mobile banking company’s total capital to more than $419 million.

Today we learn that one of Varo’s biggest goals for 2020 – earning a national bank charter – has been fulfilled. The San Francisco, California-based company has been granted a charter by the Office of the Comptroller of the Currency, and has earned regulatory approvals from both the FDIC and the Federal Reserve, making it now set to launch Varo Bank N.A. Varo is the first consumer-facing, U.S. fintech to accomplish this achievement.

“2020 has been challenging for many of us across the country and has highlighted, once again, how the traditional financial system is not meeting the needs of hardworking, everyday Americans,” Varo Money co-founder and CEO Colin Walsh said. “The ability to operate as a full-service national bank gives Varo more freedom to deliver the kind of innovation and allyship that many Americans have never had from their bank before.”

Launched in 2015, Varo Money offers consumers a digital banking alternative including a savings account with an initial APY of 1.21%, and a checking account that comes with a VISA debit card, and early payday for customers that sign up for direct deposit. Varo’s mobile banking app enables users to check up on their accounts and balances, make transfers and mobile check deposits, monitor incoming and outgoing transactions, and more. The company charges no hidden or overdraft fees for its service, and deposits are FDIC-insured up to $250,000.

Bank charter in hand, Varo will soon be able to offer a broader range of products and services including credit cards, joint accounts, and certificates of deposit.

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Amazon is adding to its financial services offerings this week. The online retail giant is reportedly planning to sell insurance in India. The move marks Amazon’s first foray into insurtech.

“Our vision is to make Amazon Pay the most, trusted, convenient and rewarding way to pay for our customers, said India’s Amazon Pay Director and Head of Financial Services Vikas Bansal. “Delighted by this experience, there has been a growing demand for more services. In line with this need, we are excited to launch an auto insurance product that is affordable, convenient, and provides a seamless claims experience.”

To be clear, this won’t be just a “matchmaking” service that serves as a comparison marketplace, hosting multiple providers. Rather, Amazon will actually serve as a corporate agent– soliciting, procuring, and servicing insurance policies.

As its first move in the space, Amazon inked a partnership with Acko General Insurance to offer car and motorcycle insurance. The new offering is available via Amazon Pay and is 100% digital. Amazon Prime customers will receive additional benefits and deeper discounts.

At launch, the company will offer life, health, and general insurance.

Amazon will be competing with other BigTech companies in the region that offer insurance directly to consumers. According to BloombergQuint, SoftBank and Paytm already offer insurance, while Flipkart has already sought approval to sell life and general insurance.

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Palo Alto, California-based insurtech Hippo Enterprises has locked in $150 million in new financing and earned a valuation of $1.5 billion. The Series E round featured participation from new investors Dragoneer and Ribbit Capital as well as existing investors Felicis Ventures and Iconiq Capital.

This week’s investment takes the company’s total capital to $359 million.

Hippo will use the funds to expand in the U.S., and to help cover the costs of its acquisition of Spinnaker Insurance, which the company bought last month. According to reporting in BuiltinAustin, Hippo’s expansion plans include building a “new, 310-person campus in Austin.” Company Chief Insurance Officer Rick McCathron credited both the city’s “strong insurance presence” and central time zone positioning as enhancements to Hippo’s ability to serve customers across the U.S.

The funding comes amid a flurry of activity in the insurtech space. On the acquisition front, insurtech company Assurance IO was purchased by Prudential Financial in a deal valued at $2.35 billion. We also learned this week that technology titan Amazon is entering the insurtech business in India. And earlier this month, one of the more widely known insurtechs, Lemonade, went public, earning a $3 billion market cap on its first day of trading.

Hippo, led by CEO Assaf Wand, is planning an IPO of its own as well. Wand said that the terms of the offering had been determined before Lemonade’s IPO, but the onset of the global health crisis forestalled the company’s plans.

Founded in 2015, Hippo currently offers home insurance in 29 states in the U.S. including California, Texas, Illinois, and New Jersey. The company leverages automation to enhance the process of applying for and getting an insurance quote in less than 60 seconds. Hippo also uses machine learning and smart home devices to enable customers to stay updated on liability issues. The enabling technologies also provide consumers with preventative maintenance tips that will help them resolve small issues with their homes before they become major insurance claims.