Category: FinTech News

Varo Bank Brings On Wook Chung as Chief Product Officer

A FinTech neobank is gearing up for even greater expansion by bringing some new talent on board. Last week, Varo Bank announced that it had appointed Wook Chung as its Chief Product Officer. According to the company, Chung will lead the bank's vision and initiatives. He will also serve as a key figure of Varo Tech, which looks to blend data, technology, and design. Chung replaces Jon Alferness, who joined...

Groundfloor Surpasses $1 Billion in Retail Investment as it Turns 10

A crowdfunded real estate firm is celebrating a decade of operation. Groundfloor has announced that, since its debut 10 years ago, the platform has now surpassed $1 billion in total retail investment volume. Additionally, the company says that its delivered annualized returns of 10% across its investment offerings during that time, Founded in 2013 by Brian Dally and Nick Bhargava, Groundfloor is a real estate investment platform that makes it easy for consumers...

Zelle Network Grew to 1,800 Institutions in 2022

A popular peer-to-peer payment service saw even greater growth in 2022 according to their latest report. This week, Zelle announced that the number of new financial institutions joining the network increased by 40% last year. What's more, 97% of the new additions were institutions with less than $10 billion in assets. In total, the Zelle network now consists of more than 1,800 banks and credit unions. Elsewhere in its update, Zelle says...

Fierce Emerges from Stealth Mode, Raises $10 Million

A FinTech startup that looks to help consumers manage their money from one place is making a splash as it emerges from stealth mode. This week, Fierce debuted its iOS app — with an Android app to follow later this year. On top of that, the company revealed that it had raised $10 million ahead of this launch. The seed round include participation from Pendrell, AP Capital, Wheelhouse Digital Studios,...

Car IQ Raises $15 Million to Expand Vehicle Payment Platform

A FinTech that helps turn fleet vehicles into payment tools has just raised a new round of funds. This week, Car IQ announced that it had raised $15 million. The addition to their Series B (which was initially announced in 2021 and amounted to $15 million at the time) was led by Forte Ventures while existing investors including State Farm Ventures, TELUS Ventures, and Avanta Ventures returned to participate. New strategic...

Digital Banking Platform Oxygen Raises $20 Million

A FinTech neobank that serves both individuals and small business owners has revealed two major pieces of news. First, this week, Oxygen announced that it raised a $20 million round. The Series B was led "largely by return investors," although Oxygen did not specify which investors in their press release. To date, the startup has now raised a total of $45 million, including a $17 million Series A in January...

GGV Capital Unveils Inaugural Embedded FinTech 50 List

Today, an inaugural list of 50 startups were named the top FinTech innovators. This project was spearheaded by GGV, which has a long history of investing in major FinTech firms, having participated in funding rounds for the likes of Square, SoFi, Affirm, Karat, and many more. Additionally, the list was compiled with participation from top FinTech investors, such as Ribbit Capital, Sequoia Capital, Thrive, and others. In total, 57 VC...

Zurp Raises $5 Million for Creator Experience Rewards Credit Card

A FinTech looking to marry credit card rewards with the creator economy has just closed a fresh round of funding. This week, Zurp announced that it had raised $5 million to create a "credit card for experiences." New Form, MAGIC Fund, Launchpad VC, OVO Fund, Darling Ventures, and Animal Capital all participated in the pre-seed fund along with a number of strategic investors. Zurp is a startup looking to create...