Category: FinTech News
FinTech News
FinTech News
Hack Affects "Almost 2,000" Robinhood Accounts
It seems that the uber-popular trading app Robinhood has run into more issues. According to a report from Bloomberg, a hack left nearly 2,000 Robinhood accounts compromised. In some cases, those accessing the accounts sold off assets being held and transferred the funds. While Robinhood didn't offer many details on their findings, they state that "a limited number" of customers were impacted. Currently, the trading app has more than 13...
FinTech News
Crypto Card Issuer Ternio Joins Visa's Fast Track Program
Visa's Fast Track program has found its newest participant: blockchain card issuer Ternio. By partnering with Visa, Ternio says it will be able to make it even easier for other FinTechs to introduce "crypto-friendly payment experiences." This is to say that customers will be able to manage and even earn cryptocurrencies while still utilizing fiat payment options — including the ability to use their Ternio-powered cards wherever Visa is accepted....
FinTech News
Clair Raises $4.5 Million to Disrupt Payday Loans
Over the past several months, there's seemingly been an uptick in venture capital funding for FinTechs who help ease financial pain points that the current pandemic has exacerbated. Take, for example, the need for those who are working to access their money quickly in order to catch up on their bills. That's what the startup Clair aims to help with — and now the company has announced that it's raised...
FinTech News
Square Announces $50 Million Bitcoin Purchase
Square has just made a major investment in cryptocurrency. The Jack Dorsey-led FinTech announced this week that it had purchased 4,709 Bitcoins. With a total price tag of $50 million (which amounts to approximately 1% of Square’s total assets as of the end Q2), this means that the company paid around $10,600 per coin. News of the purchase sent the price of Bitcoin soaring, breaking through the $11,000 mark —...
FinTech News
Macy's Invests in Swedish FinTech Klarna
When it comes to investment in FinTech, it's typically various venture capital firms fronting the money. However, every once in a while, a different kind of investor steps up to the plate. That's the case with Klarna, which just revealed a deal with a major U.S. department store chain. This week, famed retailer Macy's announced that it was investing in Sweden-based FinTech Klarna — although the size of the investment...
FinTech News
Gamified Savings Account Yotta Savings Raises $3.3 Million
Can a savings accounts that come with a chance to win a lottery jackpot change the way American consumers save? That's what Yotta Savings is betting on — and now so are several venture capital firms. As Crunchbase reports, Yotta has just closed a $3.3 million seed round. In addition to some angel investors, the round included participation from Slow Ventures, FundersClub, TwentyTwo VC, Chapter One, CapitalX, and Y Combinator. Notably, Yotta previously graduated from Y...
FinTech News
