Remove 2011 Remove Capital Remove Fintech
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SoFi-Social Capital Merger Will Fuel Growth Of One-Stop-Shop Financial Supermarket

PYMNTS

Online FinTech startup SoFi announced Thursday (Jan. 7) that it was merging with publicly-traded Social Capital in an $8.6 The FinTech IPO Market. billion deal that brings it instant liquidity and avoids the uncertainty of the initial public offering (IPO) process, while leaving it better positioned to take on legacy banks.

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Peter Thiel-Backed $3.5B FinTech Unicorn TransferWise Posts Record Profits

PYMNTS

TransferWise, one of Europe’s top five FinTech startups , announced profits for the third fiscal year in a row, with revenue after taxes 66 percent higher than last fiscal year, CNBC reported on Wednesday (Sept. The FinTech unicorn was valued at $3.5 Net profit was £10.3 million pounds ($12.8 billion during a May funding round. .

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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. The company noted that its banking platform is used by traditional banks as well as FinTechs, nonprofits and other businesses, with customers including ABN AMRO, N26, OakNorth, Orange and Santander.

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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.

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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.

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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). . billion in cash proceeds.

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TransferWise Reports 66 Pct. Profit Growth YOY

PYMNTS

TransferWise, one of Europe’s top five FinTech startups , announced profits for the third fiscal year in a row, with revenue after taxes 66 percent higher than last fiscal year, CNBC reported on Wednesday (Sept. The FinTech unicorn was valued at $3.5 Net profit was £10.3 million pounds ($12.8 billion during a May funding round. .

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