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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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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. Mambu’s push to accelerate its expansion plans comes amid projections of double-digit growth in the banking software market, with research firm Gartner having pegged the field at more than $100 billion, the company noted.

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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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Report: Digital Lender SoFi Eyes IPO Via SPAC

PYMNTS

Social Finance (SoFi), a San Francisco-based online lending startup, is holding talks about selling to a blank-check acquisition company, Reuters reported, to help it debut on the stock market. In May, Noto said SoFi's investor accounts had doubled in large part due to fractional shares, even in spite of how volatile the markets have been.

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Prescription Drug Discounter GoodRx Launches IPO

PYMNTS

If approved, GoodRx will be listed on the NASDAQ Global Select Market, under the ticker symbol “GDRX.”. Founded in 2011, GoodRx gathers drug prices on more than 70,000 U.S. The sale will include 34.6 million shares of its Class A common stock. It is expected to be priced between $24 and $28 per share. Seelaus & Co.,

Capital 168
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Poshmark Enters Home Goods Market

PYMNTS

Poshmark, which started in 2011 and is based in California, enables shoppers to try to sell unwanted belongings or to purchase products from other users. Union Grove Venture Partners, GGV Capital and Menlo Ventures, among others, are investors in the company. Our vision is to become the social commerce platform of choice.”.

Marketing 100
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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.

Samsung 183