Listed below are what I take into account to be the highest 10 most vital fintech information tales of the previous week.
Affirm raises $500M, unveils new product for smaller purchases from FinLedger – When you wanted any extra proof that the Purchase Now Pay Later section is sizzling right here it’s. Affirm has simply closed a $500 million Sequence G funding spherical, no phrase on valuation. And it additionally launched a brand new product to go face to face with Afterpay.
Chime is now worth $14.5 billion, surging previous Robinhood as essentially the most priceless U.S. client fintech from CNBC – Talking of huge funding rounds, Chime simply closed on a $485 million Sequence F at a $14.5 billion valuation and there at the moment are talks of an IPO on the horizon.
Funds supplier Klarna raises $650 million from Silver Lake-led investor group from Reuters – To spherical out the trifecta of huge funding rounds this week now we have one other Purchase Now Pay Later entrant, really the unique participant from Europe: Klarna. They closed on $650 million at a $10.65 billion valuation.
German fintech backed by Peter Thiel taken down by coronavirus from Sifted – On the reverse finish of the spectrum now we have Monedo, previously referred to as Kreditech, submitting for chapter, citing the toll of the pandemic on the corporate.
Pandemic accelerated KeyBank’s digital shift by 5 years, CEO says from Banking Dive – KeyBank CEO says that his firm’s digital transformation has been accelerated by 5 years and this may have “implications for what goes on in the branches”.
Kraken is launching a crypto bank in Wyoming, paving the way in which for potential stock choices from The Block – The cryptocurrency exchange is launching a bank, making the most of the brand new regulatory framework in Wyoming that has been particularly constructed to draw crypto firms like Kraken.
Goldman Sachs is taking what it discovered from a $100 million acquisition to improve the Marcus app from CNBC – Goldman Sachs launched Marcus Insights to provide shoppers a holistic view of their funds leveraging their acquisition of Readability Cash.
Digital Finance Platform MoneyLion Introduces Thematic Investing Options from Crowdfund Insider – That is an attention-grabbing innovation from MoneyLion. Their new ETF-based thematic funding options will are available three flavors: Future Innovation, Earn & Develop and Better Good.
How the newest cashless motion is hurting the unbanked from American Banker – Podcast with the all the time considerate Aaron Klein of the Brookings Establishment on the influence of the pandemic on the 14 million unbanked People.
Regulating Fintech as It Turns into Pervasive from The Wall Street Journal – Final week’s op-ed by appearing OCC head Brian Brooks elicited some sturdy responses from the states and others.