Category: FinTech

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

SoFi Announces Planned Acquisition of Technisys

What's already proven to be a big year for SoFi continued today as the FinTech announced its latest acquisition. This morning, the company announced that it had entered into a definitive merger agreement with Technisys. The all-stock deal is valued at approximately $1.1 billion. Currently, the transaction is expected to close by the second quarter of this year. Founded in 1999, Technisys is a banking-software company that currently powers banking platforms...

Real Estate Crowdfunding Platform Groundfloor Raises $18 Million

A peer-to-peer real estate loan investment platform has just raised a significant amount of money to fuel its growth. Groundfloor has announced an $18 million mixed funding round. This figure actually includes three separate elements. First, the platform raised $5.8 million in equity from Medipower. Additionally, $7.2 million was raised via an equity crowdfunding campaign on SeedInvest, which drew interest from more than 3,600 individuals. Finally, another $5 million was raised through...

Klarna Opens Waiting List for Klarna Card to U.S. Customers

Over the past few years, "buy now, pay later" (BNPL) services have gained popularity as an alternative to credit cards. Yet, one BNPL FinTech is set to launch its own credit card. Klarna has announced the impending arrival of the Klarna Card in the United States from issuer WebBank. When cardholders use the Klana Card, their purchases will automatically enroll in the platform's "Pay in 4" program — which follows...

BlockFi Agrees to Pay $100 Million to Settle SEC, Individual State Suits

For years, regulators have grappled with how to handle new technologies. This has been especially true when it comes to cryptocurrencies. Now, the crypto firm BlockFi has made headlines after reaching a settlement with the Securities and Exchange Commission, as well as with several state regulators. The SEC has charged BlockFi with failing to register its crypto lending product, as well as with violating registration provisions as outlined in the...

Daffy Raises $17.1 Million to Help Americans Increase Their Giving

A FinTech startup that helps enable more Americans to give is gaining some funds of its own. This week, Daffy Charitable announced that it had raised $17.1 million. The Series A was led by Ribbit Capital with participation from XYZ Capital and Coinbase Ventures. Additionally, more than 50 angel investors participated, including Reid Hoffman, Aaron Levie, Amy Chang, Dylan Field, John Lilly, and Mike Schroepfer among others. With the newly-raised...

SoFi Officially Acquires Golden Pacific Bancorp, Becomes SoFi Bank

Whether you're a FinTech observer or an everyday American, you've probably heard the name "SoFi" a lot lately. For the latter group, that's likely because this year's Super Bowl is set to be held at SoFi Stadium in Los Angeles. Yet, outside of that high-profile naming rights deal, the startup has continued to make headlines as it grows and expands. On that note, this week, the company took a major...

Upgrade Launches Cashback Shopping Portal for Card Customers

Fans of the FinTech service Upgrade could now have a new option for shopping online. This week, the company announced the launch of Upgrade Shopping — a new shopping portal available to Upgrade Card customers. With the new platform, cardholders can earn cashback on purchases from more than 20,000 local and national merchants. For online purchases, customers can click or tap the "Shop" button before making their purchase in order...

FloatMe Announces $16.2 Million Funding Round

For years, overdraft fees have been the bain of many consumers' banking lives. While a mistake or late payday might lead their account to fall just below $0, their debt would be exacerbated by a fee of $35 or more — with additional fees hitting as more negative transactions arose. Now, a FinTech whose aim is to prevent those fees is earning funds from investors. This week, FloatMe announced that...