Tag: finance
Chicago’s M1 Finance, a consumer-focused fintech platform, reaches $1B under management
Eagle-eyed readers will recall that we mentioned M1 Finance earlier today in our look at a few trends in the fintech industry. We’re back with the firm this afternoon as it has a bit of news that’s worth discussing. Chicago-based M1 Finance announced today that it has reached the $1…
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Facebook’s Libra Association adds crypto prime broker Tagomi
$28 million-funded crypto startup Tagomi will be the newest member of the Libra Association that governs the Facebook-backed Libra stablecoin, TechCrunch has learned. A formal announcement of Tagomi joining was slated for Friday or next week. Tagomi offers a platform that helps large traders and funds easily access cryptocurrency markets.…
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Africa e-tailer Jumia reports first full-year results post NYSE IPO
Pan-African e-commerce company Jumia got into the black (by a small amount) on its gross profit vs. fulfillment expenses, expanded financial services and still posted losses. The online sales company, with an operations center in China, also anticipates some negative impact on 2020 growth from the coronavirus outbreak, CEO Sacha…
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Venmo prototypes a debit card for teenagers
Allowance is going digital. Venmo has been spotted prototyping a new feature that would allow adult users to create a debit card connected to their account for their teenage children. That could potentially let parents set spending notifications and limits while giving kids more flexibility in urgent situations than a…
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The Plaid “mafia” begins with John Whitfield joining student loan fintech startup Summer
So far this year, one of the most eye-popping startup exits has been Visa’s $5.3 billion acquisition of fintech data services platform Plaid. It’s a major exit in the white-hot fintech space, and while that transaction is still going through regulatory reviews, already some current Plaid employees are becoming alumni…
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Fintech startups raised $34B in 2019
Financial services startups raised less money in 2019 than they did in 2018 as VC firms looked to back late stage firms and focused on developing markets, a new report has revealed. According to research firm CB Insights’ annual report published this week, fintech startups across the world raised $33.9…
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