Retail investors entered the stock market in droves over the past couple of years. Much ink has already been spilled analyzing competition between fintech companies such as Robinhood and Public.com to capture these new customers. But there’s another implication of this trend that’s less obvious: these new investors also have the power to introduce and […]
Lending giant Upstart has laid off about 140 employees — or 7% of its total workforce — who help process loan applications, sources told ZebethMedia. The cloud-based AI lending platform notified its affected employees about the layoff on Tuesday. Upstart had about 2,000 employees, according to the company, which confirmed the layoffs. “Given the challenging […]
Retirement plans are usually made by people who feel they can actually quit their jobs at a certain age and have enough money to maintain their lifestyle. But what about those who don’t? Several fintech startups are tackling this problem, including Retirable, which believes that retirement planning should be just as easy to get even […]
London-based private equity firm Cinven has acquired online tax preparation software provider TaxAct in a deal worth around $720 million. TaxAct offers a range of online tax tools and products, targeting individuals, small businesses, and professional tax preparers. The company’s history can be dated back nearly 25 years, when it was founded out of Cedar […]
In 2014, Angus McDonald, the former head of publisher partnerships at Yahoo (full disclosure: ZebethMedia’s parent company), teamed up with ex-Googler Chris Bayley to found Cover Genius, an insurtech platform that prices and handles claims for virtually any line of insurance or warranty. After expanding the business to all 50 U.S. states and more than […]
India’s Decentro, the Y Combinator-backed startup that helps companies enter the fintech market by deploying its APIs, has raised $4.7 million in a Series A round. The Bengaluru-based startup offers banking and payments APIs that allow development of fintech products such as banking, payment cards, neobanking and collections and payout services in a short period […]
It’s Halloween. And, if you’re contract management software company Icertis, it’s payday. After raising $115 million in 2019, Icertis today secured $150 million — $75 million in convertible debt and a $75 million revolving credit facility — in a combined tranche from Silicon Valley Bank that brings the company’s total capital raised to $520 million. […]
Hong Kong has proposed allowing retail investors to trade in cryptocurrencies and crypto exchange-traded funds and plans to conduct pilots in NFT issuance and CBDC as it looks to regain its status as a global financial hub. The city had earlier proposed limiting crypto trade to professional investors, a move that saw many crypto entrepreneurs […]
Egyptian fintech Money Fellows has raised $31 million in what it describes as the first close of its Series B investment. The round, which the startup expects to top up in the coming months, was led by CommerzVentures, Middle East Venture Partners (MEVP) and Arzan Venture Capital. Other participating investors include Partech, Sawari Ventures, Invenfin, […]
Xiaomi has quietly discontinued its financial services in India, less than three years after launching payment and lending apps in the key global market, two sources familiar with the matter told ZebethMedia, retreating from what analysts say is a $1 trillion opportunity. The Chinese giant recently pulled the Mi Pay and Mi Credit apps in […]
