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Square Capital Distributed 76K PPP Loans Totaling $820M

PYMNTS

Square Capital LLC processed more than $820 million in Small Business Administration (SBA) Paycheck Protection Program (PPP) forgivable loans in six weeks, the firm reported. The San Francisco-based division of Square Inc., Last year, Square Capital did $2.3 billion in business loan volume. months’ worth of that volume.

Capital 141
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Farfetch Raises $250M To Grow Luxury Fashion Platform

PYMNTS

Tencent is a global technology company based in Shenzhen, China, and Dragoneer is an investment firm based in San Francisco. Farfetch will use the capital to continue growing and expanding into new markets, particularly China. Each company will purchase $125 million of the notes. “I

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Santander InnoVentures Deepens Its Investment Expertise In North America

PYMNTS

Santander InnoVentures, Santander Group’s global corporate venture capital fund, announced Tuesday (March 19) its appointment of Chris Gottschalk as a senior adviser to lead the $200M fund’s strategic direction in the U.S. It also gives the fund’s non-U.S. portfolio companies a stronger entrance into North America.

America 161
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Stripe Expands To Latin America, Will Open Mexico City Office

PYMNTS

Payments startup Stripe has announced that it’s opening up an office in Mexico City to take advantage of opportunities for growth in the Latin American region , according to a report by CNBC. Stripe was started in San Francisco, and it competes with Square and Adyen to help businesses facilitate payments over the internet.

America 165
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FHLB reform: Implications for financial institutions

Abrigo

Prepare now for potential changes to FHLBs Capital rules and membership criteria are among the areas where banks could see changes in how the Federal Home Loan Bank system operates. Takeaway 2 Reform moves are stemming from actions of the FHFA against the San Francisco and New York FHLBs.

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African FinTech Chipper Cash Gets $6M To Enter New Markets

PYMNTS

Chipper Cash, a FinTech startup in Africa that facilitates cross-border peer-to-peer (P2P) payment services in Kenya, Rwanda, Tanzania, Nigeria, Uganda and Ghana, has raised $6 million in a seed round led by Deciens Capital, according to a report. Chipper Cash, which went live in 2018, raised $2.4

Fintech 130
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Senior Transport Service Onward Raises $1.5M

PYMNTS

The round was led by Royal Street Ventures, Matchstick Ventures and JPK Capital. Onward launched in March in the San Francisco Bay Area, offering round-trip, door-to-door rides for older adults who can no longer drive. So far, Onward has completed more than 500 trips in the San Francisco Bay Area.