Category: FinTech News
FinTech News
FundGuard Announces $100 Million Funding Round
by Kyle Burbank
A FinTech firm looking to modernize investment accounting has raised a new "mega-round." About the round: This week, FundGuard announced a $100 funding round. The Series C was led by Key1 Capital with participation from new investors Euclidean Capital and funds managed by Hamilton Lane. The round also included returning investors Blumberg Capital and Team8. To date, the company has now raised a total of $156 million including a Series B in... FinTech News
Insurtech Startup Coterie Raises $27 Million
by Kyle Burbank
A Cincinnati-based insurtech company has revealed a new funding round. About the round: This week, Coterie announced it had raised $27 million in new funding. The oversubscribed round included participation from new investor Hiscox as well as returning investors Intact Ventures, Weatherford Capital, RPM Ventures, and others. To date, the startup has now raised a total of $102 million. With this new funding, the company says it will be able... FinTech News
Galileo Introduces Post-Purchase BNPL Solution for Banks
by Kyle Burbank
Galileo is bringing new purchase financing options to a variety of card customers. About the feature: The FinTech Galileo (which is owned by SoFi) has announced an expansion of its "buy now, pay later" platform. Now, banks and fellow FinTechs can enable a post-purchase installment plan option for debit and credit cardholders. This joins a more traditional pre-purchase BNPL feature. These options are now available via an API. According to... FinTech News
Apex FinTech Solutions Acquires AdvisorArch
by Kyle Burbank
Apex FinTech Solutions, which provides clearing services and other solutions, has announced its latest acquisition. About the acquisition and AdvisorArch: Today, Apex FinTech Solutions revealed that it had acquired AdvisorArch — a company that Apex has partnered with since 2023. Terms of the deal were not readily disclosed. According to Apex, the acquisition will allow it to strengthen its platform and expand its digital advice tools. For example, it notes... FinTech News
Oxygen Ending Banking Services, Pivoting to Health Solutions
by Kyle Burbank
The business and consumer neobank Oxygen has announced a "temporary" exit from banking services. About the closure: Oxygen has announced that it will be "pausing banking" and will shut down its current accounts. First, as of today, the Total Rewards Program will be discontinued. Effective March 16th, users will no longer be able to deposit money into their Oxygen account. Then, on March 21st, services such as Round Up Spare... FinTech News
TomoCredit Offering Proprietary TomoScore to Businesses
by Kyle Burbank
TomoCredit has announced that it will be bringing its unique creditworthiness model to more businesses. About TomoScore and the expansion: TomoScore is an underwriting model designed as an alternative to FICO or other traditional credit models. Among the factors Tomo's model looks at are cash flow as well as on-time payments for bills, regular income, monthly rent payments, and investments. By focusing on these elements, TomoScore allows those who are... FinTech News
Health Tech Startup Healthee Raises $32 Million
by Kyle Burbank
A health tech company focused on changing the way employees interact with their benefits has raised an impressive new round of funds. About the round: This week, Healthee announced that it had raised $32 million. The Series A was co-led by Fin Capital, Glilot Capital Partners, and Group 11. Additionally, strategic partner TriNet participated. To date, the company has now raised $55.5 million, including a $22 million seed round (led...