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Digital Car Insurer Metromile To Go Public Through Merger With INSU II

PYMNTS

The combined company, to be led by Metromile CEO Dan Preston , will have a pro forma market capitalization of approximately $1.3 Investors Social Capital, Hudson Structured Capital Management, Miller Value, Clearbridge and Mark Cuban have committed to investing $160 million through a private placement of INSU II Class A common shares.

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Deliverr Raises $7.1M In Venture Funding Led By 8VC

PYMNTS

According to reports citing the company, the Series A round of venture funding was led by 8VC, the venture capital company. Deliverr has ten warehouses in states including Texas, Missouri, Pennsylvania, Ohio, and New Jersey. million in a round of venture funding.

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Where will banks get their next dollar of capital?

Jeff For Banks

Many banks had to replenish lost capital. Absent or in concurrence with government-injected capital, FIs sought fresh capital. This was one of the points made by Lisa Schultz of Stifel, Nicolaus, Weisel, an investment banking firm that specializes in FIs, at a recent Pennsylvania bankers conference.

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New Unemployment Claims Down 48K To 709K

PYMNTS

The COVID-19 vaccine is expected to have a positive effect on the labor market and other areas of the economy. Continued jobless claims — people filing for more than two weeks in a row — were 6.8 The highest insured unemployment rates in the week ending Oct. and Alaska (6.1). The largest increases in initial claims for the week ending Oct.

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Analytical Flavor Systems Raises $4M To Further Develop AI Taste Platform

PYMNTS

According to a report in VentureBeat the New York startup raised $4 million in a series A round of funding that was led by Leawood Venture Capital and Global Brain. Other investors that participated in the round include Hyperplane Venture Capital, Bits x Bites, Cornes Technologies and others.

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The Main Street Rescue That Wasn’t (And Still Isn’t)

PYMNTS

What happens if Main Street becomes less a proving ground for smaller businesses — born of, and serving, local communities — and more a collection of larger firms, well-capitalized, but already enjoying competitive advantages? Millions of smaller businesses are grappling with the impacts of the pandemic. The smallest loan, at $1.5

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Community Banks Debut FinTech Alliance

PYMNTS

Alloy’s Julieann Thurlow, CEO of Reading Cooperative Bank, said, “Community banks play a special role in the lives of our customers, but we don’t have the same IT and innovation budgets as the big banks to capitalize on that relationship.” The alliance includes a dozen firms that have between $251 million to $20 billion in assets.