FedNow won’t bring ‘tidal wave’ of change
Payments Dive
APRIL 21, 2023
“Payments solutions reach scale when they provide better usability, affordability, and security,” write partners at a San Francisco venture capital firm.
Restaurant payments startup SpotOn raises $300M
Payments Dive
MAY 19, 2022
SpotOn plans to use the capital to develop new products and services, the San Francisco-based company said. The funding round was led by Dragoneer Investment Group.
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Square Capital Chief To Step Down
PYMNTS
OCTOBER 4, 2020
Jacqueline Reses , head of Square 's Square Capital unit, is stepping down as of Oct. Square Capital is the company's small business financing arm, providing loans from $300 up to $10,000, charging a single fee for loans. 30, according to a report from The Motley Fool.
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Momentum Machines Gets $18M In Venture Funding For San Francisco Restaurant Run By Its Burger Bot
PYMNTS
JUNE 15, 2017
Momentum Machines introduced its fully autonomous burger bot in 2012, and now, with news of an $18 million venture capital funding round , it’s one step closer to opening its flagship San Francisco restaurant based around the prototype, which has been in the works since June of last year. What does that even mean?
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Square Capital Loan Volume Grows 68% YoY, Replacing Need for a Credit Card
Bank Innovation
FEBRUARY 23, 2017
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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Square Capital Distributed 76K PPP Loans Totaling $820M
PYMNTS
JUNE 15, 2020
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.
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FHLB reform: Implications for financial institutions
Abrigo
AUGUST 30, 2024
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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Five Star Bancorp aims to capitalize on San Francisco market turmoil
American Banker
JUNE 13, 2023
The Roseville, California institution is expanding into the Bay Area in hopes that it can land new clients and lenders in the wake of two large regional failures there this year.
Data: London FinTechs Netted $3.6B In VC Investments So Far In 2020
PYMNTS
OCTOBER 16, 2020
billion in venture capital investments between January and September 2020, according to a press release from London & Partners emailed to PYMNTS. London is in second place globally with those numbers, the release stated, with first place going to San Francisco with $5.1 billion in investments. billion in investments.
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Pivotus Ventures Co-founder and President Oren Goldschmidt Joins Bank Innovation 2018
Bank Innovation
JANUARY 17, 2018
EXCLUSIVE- Oren Goldschmidt, President at Pivotus Ventures has joined the speaker faculty for Bank Innovation 2018, taking place March 5-6 in San Francisco. The venture capital firm, which is a subsidiary of Umpqua Holdings Corp, is self-described as an “innovation studio with imagining and creating key […].
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Amazon CEO Jeff Bezos Invests In Chipper Cash In Latest African FinTech VC Deal
PYMNTS
NOVEMBER 20, 2020
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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Digital Mortgage Technology Platform Blend Raises $100M in Funding
Bank Innovation
AUGUST 25, 2017
The funding round was led by Menlo Park, California-based venture capital firm Greylock Partners. Other investors included Emergence Capital, 8VC, Lightspeed Venture Partners, and Nyca Partners. Based in San Francisco, Blend was established […].
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Facebook Co-Founder’s VC Firm B Capital Raises $406M
PYMNTS
APRIL 8, 2019
Facebook Co-founder Eduardo Saverin has closed out $406 million for B Capital, his venture capital fund, according to a report. B Capital’s first fund close was in last February for $360 million, and consulting firm BCG was a major backer. Saverin is known for his Facebook connection, but he has since renounced his U.S.
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Social Calendar App IRL Lands $16M In Series B Funding Round
PYMNTS
SEPTEMBER 22, 2020
The San Francisco-based company said the infusion of new cash will be used to reinvent its web product and expand the platform overseas. . IRL , or In Real Life, the social calendar startup created to help users meet over shared experiences, announced a $16 million Series B funding round on Tuesday (Sept.
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225 Chime Commands $1.5B Valuation After Capital Raise
PYMNTS
MARCH 5, 2019
According to a report in CNBC , the San Francisco startup said the Series D round of venture funding was led by DST Global , as well as new investors Coatue, General Atlantic, ICONIQ Capital and Dragoneer Investment Group. Chime isn’t the only challenger bank to raise capital in recent months. now has a valuation of $1.5
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FinTech Revolut’s Losses Triple As Customer Base Grows
PYMNTS
AUGUST 11, 2020
The latest infusion of cash came from TSG Consumer Partners , a San Francisco-based private equity company. Other investors included Menlo Park, California-based TCV and Index Ventures , the global venture capital firm with dual headquarters in San Francisco and London, along with half a dozen others.
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Future Of Fintech Is Moving To San Francisco: Here’s What To Look Out For In 2020
CB Insights
JANUARY 14, 2020
In case you missed it, the 5th annual Future of Fintech (June 14-16) is moving west to San Francisco. Kevin Durant, Sequoia Capital, and Goldman Sachs). CEO, Metromile (pay-per-mile auto insurance backed by NEA, Index Ventures, and First Round Capital). And that’s not the only change.
Digit to focus on automation as it evolves its future plans
Bank Innovation
SEPTEMBER 30, 2019
The new financing will help Digit grow its user base; hire new talent in San Francisco; and grow its core product, a spokesperson for the company said. Digit, a personal finance app that helps users save automatically, raised $27.5 million in Series C funding on Monday. To date, Digit has raised over $63.8 million in […].
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Cryptocurrency Investment Firm Bitwise Raises $4 Million
Bank Innovation
DECEMBER 12, 2017
Investors in this round included Kholsa Ventures’ Keith Rabois, General Catalyst’s Hemant Taneja, Blockchain Capital, Naval Ravikant, Suna Said, Adam Ludwin, Adam Nash and Elad Gil. Based in San Francisco, Bitwise is an investing fund that focuses on the top 10 cryptocurrencies by market […].
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FinTech Startup Revolut Raises $80M In New Funding, Now Valued At $5.5B
PYMNTS
JULY 24, 2020
The latest infusion of cash comes from TSG Consumer Partners , a San Francisco-based private equity company, TechCrunch reported. Revolut is also backed by Index Ventures, the global venture capital firm with dual headquarters in San Francisco and London, and a half dozen others.
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Carpool Startup Scoop Raises $60M In Activate Capital-Led Round
PYMNTS
AUGUST 14, 2019
The funding round was led by Activate Capital with participation from Goldman Sachs, NGP Capital, Total Group, BNP Capital and others. Scoop launched in its home state of San Francisco before heading to Seattle. The money will be used to further expand and grow the platform. .
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Here Are The Blockchain Networks Most Popular With Capital Markets Players
CB Insights
NOVEMBER 19, 2020
As blockchain tech gains commercial traction, a growing number of companies want to use it to reimagine the capital markets infrastructure that powers the trade of stocks, bonds, and other securities. The chart above shows the core blockchain tech being used by projects and corporates working on DLT applications for capital markets.
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Game-change: how unlocking working capital can drive growth
Bobsguide
NOVEMBER 6, 2018
The Working Capital Summit, held jointly in San Francisco and Chicago in October, was a game-changer for the industry in more ways than one. This article was originally published on our sister site Global Treasurer. As Taulia’s Matthew Stammers explains, “In Europe, there are.
DoorDash Moves Ahead With 4Q IPO Plans
PYMNTS
AUGUST 23, 2020
DoorDash , the San Francisco-based prepared food delivery service, is planning to go public by year’s end, Bloomberg reported, citing sources. The startup raised about $2 billion from investors, including SoftBank and venture capital firm Sequoia Capital. Palantir Technologies Inc., Snowflake Inc., Rowe Price Group.
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12 Startups Showed Their Latest and Greatest at INV Fintech Demo Day
Bank Innovation
MARCH 9, 2018
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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Starbucks Launches $100 Million Fund To Support SMBs
PYMNTS
JANUARY 13, 2021
The aim of the Starbucks Community Resilience Fund is to support SMBs in areas “with historically limited access to capital,” the release said, to promote racial equality and environmental resilience. Access to capital is especially important amid worries of a second lockdown.
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Personal finance app Tally raises $50m to grow its platform business
Bank Innovation
JUNE 19, 2019
The Series C funding round, led by Andreessen Horowitz, will help the San Francisco-based company hire more engineers to help build out more products, according to Erica Dorfman, Tally’s head of finance and operations. […].
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Russia’s Ozon eCommerce Firm Nets $50M To Grow Logistics
PYMNTS
MARCH 31, 2020
San Francisco-based Princeville Capital has announced a $50 million investment in Russian online retailer Ozon, which is partly owned by the Russian-based conglomerate Sistema. Ozon said Emmanuel DeSousa, managing partner at Princeville Capital, joined its board following the transaction.
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Real Estate Startup Opendoor In Talks To Go Public
PYMNTS
SEPTEMBER 13, 2020
Opendoor , a San Francisco-based startup that offers a one-stop-shop for buying and selling real estate, is negotiating to go public with a California blank-check company, Bloomberg reported. Opendoor is in advanced talks with Social Capital Hedosophia Holdings Corp. II, according to Bloomberg sources. On Friday (Sept.
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Citigroup Back To NY Federal Court Over $900M Error
PYMNTS
AUGUST 21, 2020
“Defendants have unreasonably and unlawfully attempted to capitalize on Citibank’s unfortunate error,” the complaint said. million from HPS Investment Partners LLC, the New York based capital solutions company, and $109.7 million from Symphony Asset Management LLC, the San Francisco research, valuation and risk analysis firm.
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Millennial-Focused Digital Bank Empower Finance Raises $20M
PYMNTS
MARCH 6, 2020
San Francisco-based Empower Finance, a mobile banking app aimed at helping millennials save wealth, has raised $20 million in a Series A funding round led by Defy Ventures and Icon Ventures, according to a report. The company, which was founded in 2017, is run by a former Sequoia Capital partner named Warren Hogarth.
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FDIC Approves Square For Banking License
PYMNTS
MARCH 19, 2020
The Utah Department of Financial Institutions still has to issues approvals to the San Francisco-based FinTech. One of the conditions would require the proposed bank to maintain levels of capital that are significantly higher than typical FDIC-insured banks,” FDIC Chairman Jelena McWilliams said a statement. Square, Inc.
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Bolt Nets $75 Million In Funding Round For eCommerce Innovation
PYMNTS
DECEMBER 21, 2020
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. The round saw the company's valuation hit over $215 million.
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Fintech Is Back
Bank Innovation
MARCH 7, 2018
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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Credit Sesame wants to create a frictionless web application process
Bank Innovation
SEPTEMBER 4, 2019
Credit Sesame, the San Francisco-based credit score monitoring and advice platform, is building out its AI-based credit management tools with the help of a major fundraising round last week.
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Square To Distribute SBA’s PPP Loans
PYMNTS
APRIL 13, 2020
Square Capital announced Monday (April 13) it’s the latest FinTech to participate in the federal Paycheck Protection Program (PPP). Square Capital joins PayPal in being able to distribute PPP loans. Small Business Administration loans and will collaborate with Celtic Bank of Salt Lake City to launch its program this week.
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Menlo Ventures Closes New Early Stage $450M Fund
PYMNTS
MAY 22, 2017
Menlo Ventures , the Silicon Valley venture capital firm, closed a new $450 million venture capital fund aimed at investing in early stage companies focused in the consumer, enterprise and so-called frontier technologies markets. The move is designed to put the VCs closer to where the action is.
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eCommerce Site Wish Prices IPO Shares At $24, Report Says
PYMNTS
DECEMBER 15, 2020
billion and gave it an implied market capitalization of $14 billion. Wish, which is based in San Francisco and was founded in 2010 by ex-Google engineer Peter Szulczewski, runs an online marketplace known largely for selling discounted items from China. This helped Wish raise $1.1 The company said it made over $1.7
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‘Most ICOs Are Scams,’ VC Says [VIDEO]
Bank Innovation
MARCH 29, 2018
In fact, all four panelists on “Where and How to Invest in Fintech Now,” at Bank Innovation 2018 in San Francisco, unanimously dismissed investing in ICOs. Like many others, venture capitalists are skeptical about investing in Initial Coin Offerings (ICOs). ICOs are rapidly falling in popularity.
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Fintech venture firm Nyca raises $210m for third fund
Bank Innovation
AUGUST 2, 2019
Nyca Partners has closed on $210 million for its third investment fund, a vehicle that will let it continue to support the growth of fintech innovation, David Sica, partner at the New York- and San Francisco-based venture firm, told Bank Innovation. “I think there’s still a lot of opportunity,” Sica said.
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AI Gets $435M Fundraising Boost From Emergence Capital
PYMNTS
MAY 22, 2018
Emergence Capital has raised a $435 million fund to invest in companies that use artificial intelligence (AI) to help people increase their work productivity. Founded in 2003, San Francisco-based Emergence’s early thematic investments were in SaaS and industry-focused Cloud companies, as well as in technology for field and remote workers.
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Can Banks Solve their Small-Dollar Loan Problem with Fintech Partnerships?
Bank Innovation
FEBRUARY 18, 2019
Aura, a San Francisco-based fintech offering affordable loans to low to moderate-income households, wants to partner with banks to offer those loans to consumers who have traditionally been unable to secure them from larger institutions.
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186 Melissa Widner, General Partner at National Australia Bank Ventures, Joins Bank Innovation 2018
Bank Innovation
FEBRUARY 27, 2018
Bank Innovation 2018 will take place March 5-6 in San Francisco. EXCLUSIVE — Melissa Widner, General Partner at NAB (National Australia Bank) Ventures, has joined the speaker faculty for Bank Innovation 2018. Prior to NAB Ventures, Widner led two companies as CEO to successful acquisitions that provided over a 10X return to investors.
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Santander InnoVentures Deepens Its Investment Expertise In North America
PYMNTS
MARCH 19, 2019
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. Prior to Blumberg, Gottschalk worked at Menlo Ventures.
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