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Millennial-Focused Digital Bank Empower Finance Raises $20M

PYMNTS

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 Founder and CEO of Nubank David Velez also participated in the funding round.

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Silicon Valley Is Losing Its Luster With Millennials

PYMNTS

Silicon Valley is losing its luster with young adults, as recent polling shows millennials are gearing up to leave the San Francisco area at an increased rate. s move last year when it announced it was leaving San Francisco for Denver, which is also growing. Reuters pointed to VF Corp.’s

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Varo drops goals feature from app, citing low user uptake

Bank Innovation

In a sea of sameness among digital-only banks, Varo is taking a bold move in pulling the plug on a feature that millennials supposedly hold dear: goals-based savings envelopes. ” […].

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Bento for Business Sets Big Goals with $9 Million in Funding

Bank Innovation

Bento for Business wants to provide its customers with money management tools combined with banking solutions, similar to the personal financial management app for millennials, MoneyLion, according to company CEO Farhan Ahmad. For the task, San Francisco-based Bento raised $9 million in a new round of funding today.

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Bank of the West Adds ATMs for Young Customers on the Move

Bank Innovation

Millennials, actually. The San Francisco-based bank said it has tripled the number of cash access locations for its customers in Denver, to 151, and nearly quadrupled the number of those locations […]. One target?

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Millionaires, Millennials And The Great Avocado Debate

PYMNTS

Are millennials eating too many avocados on toast for their own good? The crux of the debate is this: are first- time home sales down because, given the choice of a two car garage and a yard in the suburbs, millennials have, en masse, decided they’d rather enjoy a more richly-delicious brunch experience, week in and week out?

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LendingHome Going After First-Time Home Buyers With New Product

PYMNTS

LendingHome, the San Francisco mortgage company, is aiming to expand its market for loans by going after first-time homebuyers. That customer base is expected to increasingly include millennials who are purchasing their first homes. With its new product, LendingHome said it’s setting its sights on the 15.8