Category: FinTech News
FinTech News
Chainalysis Announces Expansion of Series B to $49 Million
by Fioney Staff
The blockchain analysis company cleverly named Chainalysis has just upped its latest funding effort. Originally announced last year as a $36 million round with participation from Accel, Benchmark, MUFG, and Sozo Ventures, Chainalysis has now expanded the Series B by $13 million. The additional investments come from Ribbit Capital and Sound Ventures. As part of the deal, Ribbit Capital General Partner (and former Under Secretary for Terrorism and Financial Intelligence at the... FinTech News
Galileo Officially Launches Galileo Instant for Debit Card Creation
by Fioney Staff
One major trend seen in the FinTech industry in recent years has been the roll-out of branded debit cards. Now, Galileo is looking to make creating such offerings even easier. Recently, the company announced the official launch of Galileo Instant after originally debuting a beta of the program in November of last year. According to Galileo, Instant will allow businesses to launch their own debit cards in as little as... FinTech News
Empower Retirement To Acquire Personal Capital for Up to $1 Billion
by Fioney Staff
The FinTech personal finance and investment tracking platform Personal Capital has just announced a big exit. This week, the company revealed that it is being acquired by retirement plan recordkeeper Empower Retirement. This acquisition will cost Empower up to $1 billion, with $825 million coming at closing and a contingency bonus of up to $175 million for planned growth. Incidentally, Personal Capital celebrated that presumed final dollar figure when announcing... FinTech News
Mastercard to Acquire FinTech Firm Finicity
by Fioney Staff
To most people, companies such as Visa and Mastercard are viewed as institutions akin to banks. In reality, each of these firms consider themselves to be technology companies — or FinTechs, even. It should come as no surprise then that each card company has been looking to expand their offerings, both by partnering with and even acquiring FinTech startups. The latest example of this comes courtesy of Mastercard, which has... FinTech News
Upgrade Raises $40 Million in Latest Funding Round
by Fioney Staff
Once again setting aside fears that the coronavirus crisis would cripple FinTech investment, another notable deal was announced this week. This time it was Upgrade disclosing new funding, with the San Fransisco-based company revealing a $40 million round. Upgrade's latest round — a Series D — was led by Santander InnoVentures, which is the VC arm of Spanish bank Santander Group. Additionally, returning investors Ribbit, Union Square Ventures, Vy Capital... FinTech News
Credit Sesame Completes Acquisition of STACK
by Fioney Staff
Following several notable deals so far this year, it looks like FinTech's M&A streak is continuing, with Credit Sesame emerging as the latest buyer. This week, the company announced that it had completed its acquisition of Canadian challenger bank STACK. Previously, the two companies had collaborated to introduce Sesame Cash — a free digital bank account that comes complete with a Mastercard debit card. That product was first released to... FinTech News
Is Robinhood Playing a Role in the Bull Market Rally?
by Fioney Staff
When the situation surrounding the COVID-19 pandemic worsened early this year, it became clear that the longest bull market in history would soon be coming to an end. While that did indeed happen, it was then followed by one of the shortest bear markets in history as stocks managed to rally — right up until volatility was reintroduced last week. Now, some observers are wondering if the runaway market could...