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B2B Venture Capital Spans SMB Banking, V-Cards, Global Payments And More

PYMNTS

Investors backed a range of B2B FinTechs this week operating in areas including accounting, cross-border payments, virtual cards, expense management, cybersecurity and more. In total, more than $68 million in venture capital was announced — but that’s not counting the $130 million round for one U.K. Back Office. Buckzy Payments.

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Here is The Math Behind the High-Yield Account

South State Correspondent

If you bank in a fast-growing state such as Nevada, Utah, Idaho, Arizona, Texas, Florida, or South Carolina, population and business formation growth result in lower acquisition costs. Not everyone needs rewards points, instant payments, or weekend service, but everyone needs cheap capital and more income.

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A digital-first bank for south Florida

Independent Banker

Banking veteran Keith Costello cofounded Locality Bank, where he serves as president and CEO, to champion for south Florida small businesses financially affected by the pandemic. Costello has also held senior roles at Bank of Florida, City National Bank and Nations Bank during his 30-year banking career. By Katie Kuehner-Hebert.

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JD Sports Purchases California-Based Shoe Palace

PYMNTS

Overall cash consideration for the purchase of the company is $325 million, which is subject to “customary cash/debt and working capital adjustments,” of which $100 million has been deferred and will be paid on different dates over the 12 months to come. California-based Shoe Palace was started in 1993 by the Mersho family.

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Bank-FinTech Collaboration Tackles SMB Finance Friction

PYMNTS

Highlighting the need to accelerate access to capital for SMBs, HSBC said it is integrating Biz2X within its existing HSBC Fusion offering to speed up credit application approval. AIB's receivables financing operations in the U.K. HSBC Collabs With Biz2Credit For SMB Loans. Progress Bank Taps Sensibill For Digital Receipts.

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Simon Property Group, Wheels Up Get In On The SPAC Action

PYMNTS

Thus far, the Journal said, citing University of Florida Professor Jay Ritter, SPACs have logged 6 percent gains on the first day of trading so far this year, which outpaces the 1.6 Funds that have expertise in both companies operating in Asia and how U.S. capital markets work hold a significant advantage.”

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Branching Out: Physical Locations Boost CUs' Digital Plans

PYMNTS

The pandemic has cost more than 300,000 lives in the United States alone, and it has also challenged many institutions — such as credit unions (CUs) — that were never designed to operate on a primarily remote basis. Coast Capital On The Innovations Driving CUs’ Digital-First Future. To get the full story, download the Tracker.