Category: FinTech News
FinTech News
Empower Financial to Acquire Petal
by Kyle Burbank
The popular credit-building card company Petal is being acquired. About the deal: Empower Financial (not to be confused with Empower, which acquired Personal Capital and rebranded it to Empower Personal Dashboard) has signed a definitive agreement to acquire Petal. Details of the deal were not disclosed. However, Empower anticipates the transition to close later this quarter. News of this acquisition also comes as Empower has completed its purchase of Cashalo.... FinTech News
Rocket Mortgage Announces AI-Powered Tool Rocket Logic
by Kyle Burbank
Rocket Companies has unveiled a new AI tool that it says will help makes mortgage underwriting faster and easier. About Rocket Logic: Rocket Mortgage is introducing Rocket Logic — a patented AI platform for mortgages. According to the company, Rocket Logic utilizes insights from more than 10 petabytes of proprietary data as well as 50 million annual call transcripts. As a result, the AI system is designed to help customers... FinTech News
Brim Financial Raises $85 Million as It Eyes Global Expansion
by Kyle Burbank
Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will... FinTech News
Tally Pivots to B2B Credit Card Debt Management Product
by Kyle Burbank
Tally — an app that helps consumers pay off their credit card debt — has announced an expansion of their service and will allow partners to offer their platform. About the new offering: Tally has unveiled a new B2B white-labeled credit card debt management platform. This offering will allow banks, institutions, FinTechs, lenders, and other businesses to integrate Tally's software into their own services. As a result of this shift,... FinTech News
Varo Bank Introduces Line of Credit Option with Fixed Pricing
by Kyle Burbank
Varo has announced the impending launch of a new borrowing option for customers. About the feature: This week, Varo Bank revealed its new Varo Line of Credit. With this feature, customers can get approval for a line of credit ranging from $600 to $2,000. According to the bank, this feature will have transparent fixed pricing rather than charging interest. It will also be free of any late fees. As for... FinTech News
Robinhood Reveals New Credit Card, Reimagined Flagship App
by Kyle Burbank
During its "New Gold Standard" keynote event, Robinhood made some major announcements, including the launch of a new credit card. About the Robinhood Gold Card: The headlining announcement was the reveal of the new Robinhood Gold Card. In a bit that paid homage to Steve Jobs' iconic iPhone announcement, Robinhood co-founder and CEO Vlad Tenev teased plans to release three different cards (a starter card, an everyday card, and a... FinTech News
FundGuard Announces $100 Million Funding Round
by Kyle Burbank
A FinTech firm looking to modernize investment accounting has raised a new "mega-round." About the round: This week, FundGuard announced a $100 funding round. The Series C was led by Key1 Capital with participation from new investors Euclidean Capital and funds managed by Hamilton Lane. The round also included returning investors Blumberg Capital and Team8. To date, the company has now raised a total of $156 million including a Series B in...