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SoFi Set to Acquire Fellow FinTech Galileo

Even in the face of a pandemic, FinTech marches on. Not only have we seen firms reporting new funding rounds during these challenging times but we have also seen some online banking offerings experiencing increased sign-ups. Now there's more good news for the industry as the streak of acquisitions we've...

Payments API Platform Sila Raises $7.7 Million in Funding

Despite FinTech deals falling to multi-year lows amid the global COVID-19 crisis, funding is still flowing for some firms. The latest to reveal new rounds is the Portland-based payments startup Sila. Last week Sila announced that it had raised $7.7 million in seed funding. The round was co-led by both...

FinTech Deals Decline Amid COVID-19 Outbreak 2

With the COVID-19 pandemic not only delivering a public health emergency but also crippling the global economy, it should come as no surprise that new investments from venture capital are down as well. According to the latest report from CB Insights, the number of FinTech deals globally year over year...

FinTech Financial Planner Savology Closes Oversubscribed Seed Round

Once again it seems that the current pandemic hasn't stopped some FinTechs from seeking investments and growing their reach. This week the Utah-based Savology announced that it had raised $750,000 in seed funding. The oversubscribed round included participation from MassMutual Intermountain West CEO Brady Murray, RevRoad CEO Derrin Hill, Ascend...

HMBradley Launches Digital Banking Product that Rewards High Savings Rates 2

When the Federal Reserve made two emergency cuts to interest rates amid the COVID-19 pandemic, many formerly high-yield savings products lost a bit of their luster. Meanwhile a growing trend in FinTech online banking offerings (which typically come via partnerships with actual banks with FDIC deposit insurance) has been to...

Credit Sesame Announces Sesame Cash Digital Banking Offering 2

Believe it or not, yet another FinTech is ready to play challenger bank, unveiling plans for a checking account and debit card. Recently the free credit score site Credit Sesame announced its new offering Sesame Cash. While existing Credit Sesame customers can now join the waitlist for the new product,...

FinTech DailyPay Waiving Fees for Employees to Access Earned Income

With life in the United States currently going through numerous changes and challenges, many workers are having to adjust to new realities as well. While those in some industries may be able to operate from home at this time, others are finding themselves laid off or waiting to hear what...

Experian Boost Bestowed with Consumer Lending Innovation Award from FinTech Breakthrough

Recently the market intelligence organization FinTech Breakthrough celebrated a long list of companies and their accomplishments, announcing the recipients of their 2020 FinTech Breakthrough Awards. While these awards honored firms in a variety of categories, one of the most interesting awards was in the field of Consumer Lending Innovation, with...