Category: FinTech News

FinTech Funding Grows 169% in 2021 to Reach New Record

Anyone paying attention to the FinTech field throughout 2021 could probably guess that it was a record-breaking year. Sure enough, new figures from CB Insights confirm that to be the case. According to the latest State Of Venture report, FinTechs raised a combined total of $131.5 billion in 2021. That marks a 169% increase over 2020's $49 billion total. The year was capped by a $34.9 billion Q4 that ranks...

FinTech Prosper Introduces Credit-Building Card

For years, FinTechs have been disrupting the credit industry. From websites like Credit Karma making it easier for consumers to understand their credit reports to various platforms looking beyond credit scores and utilizing alternative algorithms to determine creditworthiness, there are now several credit-building opportunities available to Americans that weren't there previously. Now, the marketplace lending platform Prosper has announced the launch of a new and interesting credit card product. The...

Lending Marketplace Acorn Finance Raises $8.4 Million

As the new year gets underway, another FinTech is celebrating by raising money. This week, Acorn Finance (not to be confused with micro-investment app Acorns) announced that it had closed an $8.4 million round. The Series A was led by MassMutual Ventures. Previous investors Vestigo Ventures, Accomplice, and MetaProp also participated along with Moderne Ventures. To date, the company has now raised a total of $12.4 million, including seed round raises...

Rêv Launches X World Wallet in the United States

In recent years, a major trend in FinTech has been the issuance of debit cards. Each of these offerings boasts its own unique twist — be it instant rewards, a focus on the environment, charitable giving, etc. Now another prepaid card is entering the U.S. market and looking to make a splash: the Rêv's X World Wallet. Rêv's X World Wallet is a multi-currency debit card that also includes a...

India-Based Digital Banking App Jupiter Raises $86 Million

When the book closes on 2021, it will surely show a record-smashing year in terms of FinTech deals. And while there have been plenty of big funding rounds from stateside startups, companies around the world have also seen success in attracting investors. The latest example of this is India-based neobank Jupiter, which just recently raised its second round of 2021. As TechCrunch reports, Jupiter recently closed an $86 million funding...

Chase Survey Shows Digital Banking Continuing to Grow

For years, digital banking has been on the rise. Of course, the pandemic of the past year and a half has only served to accelerate this trend. Now, a new survey from Chase shows how consumers are not only using banking sites and apps along with digital payment services but may also be starting to use these outlets for other financial transactions as well. Headlining the survey results was the...

H&R Block Files Trademark Infringement Suit Against Block, Inc.

Earlier this month, the former Square, Inc. announced that it would be changing its name to Block, Inc. In their press release, the company stated that the move was intended to give the Square small business seller platform back its name as the rest of the organization continues to diversify its efforts. Additionally, they noted that the name "has many associated meanings for the company — building blocks, neighborhood blocks...

QuickBooks Rebrands Banking Account as QuickBooks Checking

QuickBooks is giving its small business banking account a new name. What was previously named QuickBooks Cash will now be known as QuickBooks Checking. With QuickBooks Checking, business owners can take advantage of several digital banking services. These include the ability to earn 1% APY, use a physical or virtual debit card, utilize bill pay, and more. The account also features Instant Deposit — which enables deposits to post within...