Category: FinTech

Stay up to date on the latest trends in FinTech – where technology meets finance to create new market opportunities.

Truist Bank Acquires Long Game Mobile Savings App

After many years and evolutions, the prize-linked savings platform Long Game is entering a new phase after being purchased by one of the largest banks in the United States. Today, Truist Bank announced that it had acquired the gamified savings app. Terms of the deal were not disclosed, but Long Game has previously raised $17 million in funding. According to Truist, the bank plans to leverage the app's technology in...

Concerto Raises $21 Million to Launch Credit Cards from Four MLB Teams

A startup that aims to create loyalty-minded co-branded cards has announced a major investment and partnerships to bring its vision to life. This week, Concerto announced that it had raised $21 million in early-stage funding. The round was led by Matrix Partners, while PayPal Ventures and GoldenTree Asset Management also participated. Furthermore, GoldenTree has created a joint venture with Concerto and will fund at least $2 billion in credit card...

DeFi Platform Ondo Finance Raises $20 Million

With decentralized finance continuing to capture interest, a DeFi startup has just announced a significant early-stage funding. This week, Ondo revealed that it had raised $20 million. The Series A was led by the Peter Thiel-founded firm Founder Fund as well as Pantera Capital. Other participants include Coinbase Ventures, GoldenTree, Wintermute, Steel Perlot, Tiger Global, and Flow Traders. Previously, Ondo closed a $4 million seed round last year, which was...

Sutton Bank, BHB Announce Banking-as-a-Service Association

With the FinTech sector continuing to grow at a rapid pace, numerous startups have turned to FDIC-insured banks to help power their platforms. These types of partnerships have since become known as "banking as a service," with the licensed institutions being known as BaaS Banks. Now, one such bank is helping create an association to help support like-minded institutions. Sutton Bank and Bankers Helping Bankers have announced the launch of...

Neobank Ando Announces Launch of "Change that Counts" Feature

In celebration of this year's Earth Day (which took place on April 22nd), a growing FinTech unveiled its latest plan to help consumers combat climate change. Last week, Ando formally announced the launch of its Change that Counts feature. Now, customers can elect to round-up their purchases to the nearest dollar, with the change going toward the planting of one tree. For example, a purchase of $4.27 would be rounded...

Wagestream Announces $175 Million Investment Round

A FinTech platform aimed at helping workers improve their financial health has raised a significant investment for itself. This week, Wagestream announced it had raised a total of $175 million as part of its latest funding round. The Series C includes a $60 million equity component led by Smash Capital — a U.S.-based firm that counts Epic Games, Reddit, and DuckDuckGo among its prior investments. BlackRock, Balderton Capital, Northzone, and...

Robinhood Adds Support for Four New Crypto Assets Including SHIB

At long last, Robinhood is bringing more cryptocurrency options to its platform. Today, the app announced that, for the first time in years, it was adding support for new crypto assets. Now, customers can buy and sell Compound (COMP), Polygon (MATIC), Solana (SOL), and Shiba Inu (SHIB). These assets join previously supported coins including Bitcoin, Ethereum, Dogecoin, Litecoin, Bitcoin Cash, and more. Of the four newly-added assets, Shiba Inu is...

FinTech Funding Hits $28.8 Billion in Q1 2022

Following a record-breaking 2021, FinTech has seemingly continued that hot streak into the new year. Now, that hunch is being backed up by new data that shows a blockbuster first quarter for the sector. According to the latest report from CB Insights, startups in the financial technologies sector closed a combined total of $28.8 billion in deals last quarter. Although that's below the totals of quarters two, three, and four...