Tag: Bank
Avant doubles down on digital banking with Zero Financial acquisition
Avant, an online lender that has raised over $600 million in equity, announced today that it has acquired Zero Financial and its neobank brand, Level, to further its mission of becoming a digital bank for the masses. Founded in 2012, Chicago-based Avant started out primarily as an online lender targeting…
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Credit-and-collect fintech start-up Diem raises $5.5M Seed led by Fasanara Capital
Diem, a London, UK-based fintech start-up has raised a seed round of $5.5 million led by Fasanara Capital, and Angel investor Chris Adelsbach, founder of Outrun Ventures. Additional investors include Andrea Molteni (early investor in Farfetch), Ben Demiri (co-chairman at fashion tech PlatformE) and Nicholas Kirkwood (founder of the eponymous…
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The Cash app’s parent company is now running its own bank
Jack Dorsey, the CEO of both Twitter and Square, tweeted today that the "Bank now open." What he's referring to is that now, about a year after receiving FDIC approval, Square Financial Services has begun operations. Operating as a subs… Source
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Brex applies for bank charter, taps former Silicon Valley Bank exec as CEO of Brex Bank
Brex is the latest fintech to apply for a bank charter. The fast-growing company, which sells a credit card tailored for startups with Emigrant Bank currently acting as the issuer, announced Friday that it has submitted an application with the Federal Deposit Insurance Corporation (FDIC) and the Utah Department of…
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Fintech companies must balance the pursuit of profit against ethical data usage
Richard Steggall Contributor Australia native Richard Steggall is the CEO of Urban FT, a New York-based fintech company. He has more than two decades of experience in fintech, capital growth, mergers & acquisitions and strategic IPO advisory. Financial institutions are falling behind the tech curve in delivering on the convenience…
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Tesla’s Bitcoin investment could be bad for the company’s climate reputation and its bottom line
Tesla’s $1.5 billion investment in Bitcoin may be good for Elon Musk, but it’s definitely risky for the company that made him the world’s richest man, according to investors, analysts and money managers at some of the country’s largest banks. As a standard bearer for the consumer electric vehicle industry…
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