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SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket

PYMNTS

7) that it was merging with publicly-traded Social Capital in an $8.6 The SoFi deal marks at least the third such transaction done by the Social Capital SPAC, Palihapitiya said in a televised interview on CNBC, adding that the deal was driven by the fact that banking infrastructure isn't currently meeting the needs of U.S.

Capital 150
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Measuring capital at risk in the UK banking sector

BankUnderground

The probability of an extreme stress event with losses above £91 billion (roughly 19% of CET1 capital) increased from 1% before the pandemic to 4.1% Concentration risk in the economic system, such as vulnerability to shocks to large non-financial corporations, may lead to remarkable fluctuations in economic activity ( Gabaix (2011) ).

Capital 126
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Swedish Payment Company iZettle Raises $47 Million in Funding

Bank Innovation

The round was led by venture capital firm Dawn and The Fourth Swedish National Pension Fund. Established in 2011, iZettle enables small business merchants across Europe and Latin America to accept card payments. Swedish payment company iZettle today announced it raised €40 million ($47.05 million) in funding to accelerate growth.

Company 230
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Mambu’s Valuation Hits $2 Billion After TCV-Led Investment Round 

PYMNTS

Current investors Bessemer Venture Partners, Runa Capital and Acton Capital Partners also took part. When Mambu launched in 2011, we knew the future of banking would have to be built on agile and flexible technology,” Eugene Danilkis , co-founder and CEO of Mambu, said in a press release.

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Wells Fargo Invests In DadeSystems With Series D Round

PYMNTS

Florida-based receivables FinTech DadeSystems has announced additional funding by Wells Fargo Strategic Capital as part of a Series D round. “ Wells Fargo Strategic Capital is one of the leaders in providing capital to growing FinTech companies,” said Bill Zayas, president and CEO of DadeSystems.

Capital 159
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Financial Services Platform SoFi Plans IPO Via SPAC

PYMNTS

Silicon Valley startup Social Finance (SoFi) is closing a merger deal with blank-check firm Social Capital Hedosophia Holdings Corp. Social Capital Hedosophia is one of three special-purpose acquisition companies (SPACs) on the lookout for investment opportunities. V to file an initial public offering (IPO). .

Samsung 183
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Prescription Drug Discounter GoodRx Launches IPO

PYMNTS

Founded in 2011, GoodRx gathers drug prices on more than 70,000 U.S. “We want to make it as straightforward and clear as possible. We literally have billions of prices in our database. The idea is to optimize the best prices for a given drug, depending on the location of the user.”. pharmacies for shoppers to compare and track drug prices.

Capital 168