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Square Capital Loan Volume Grows 68% YoY, Replacing Need for a Credit Card

Bank Innovation

Mobile payments company Square grew its gross payment volume 34% over last year, and its loans through Square Capital were up twice that — 68%. The San Francisco-based company processed $13.7 billion in payments in the fourth quarter of 2016, compared with $10.2 billion in the same quarter last year. Read More.

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Amazon CEO Jeff Bezos Invests In Chipper Cash In Latest African FinTech VC Deal

PYMNTS

Chipper CEO Ham Serunjogi confirmed on Twitter the startup, which got its initial foothold in the market as a peer-to-peer (P2P) payments service, has just wrapped up a $30 million Series B round of venture capital. Ribbit Capital, a VC firm in the U.S. that focuses on early-stage firms, led the investment round. Stripe, the U.S.-based

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12 Startups Showed Their Latest and Greatest at INV Fintech Demo Day

Bank Innovation

EXCLUSIVE - On March 6 in San Francisco, 12 impressive startups demoed their latest in fintech technology at INV Fitnech's 2nd annual demo day. INV Fintech, the sister accelerator to Bank Innovation, is partnered with Fiserv and eight banking partners with over $3 trillion dollars in assets.

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Fintech Is Back

Bank Innovation

EXCLUSIVE (SAN FRANCISCO) -- Welcome back to the fintech boom. At this time last year, fintech was in a downturn. Fintech venture funding was down more than 9% year-over-year; valuations seemed stuck. But the fintech market has rebounded.

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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. The news reveals CEO Anthony Noto 's aspirations to go public after he succeeded SoFi Co-Founder Mike Cagney in 2018.

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Bolt Nets $75 Million In Funding Round For eCommerce Innovation

PYMNTS

The round was led by General Atlantic and WestCap , and existing investors Activant Capital and Tribe Capital also participated. Bolt was founded in 2014 in San Francisco and works on tools to streamline web transactions.

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Car Talk: Shift Announces Plans To Go Public

PYMNTS

revved a little higher Monday (June 29) as online car sales platform Shift announced it will go public in the third quarter via a complicated reverse merger arrangement. Arison said the move was about adding capital to scale the company. Securing that capital is even more complicated than the IAC merger.