I hope you all had a pleasant Thanksgiving. Though it was a brief week there have been a number of actually massive fintech tales, simply as many, if no more, than a daily week. Listed below are what I think about to be the highest 10 most necessary fintech information tales of the previous week.
Justice Division Clears Intuit to Purchase Credit score Karma from The Wall Street Journal – After Credit score Karma agrees to promote its tax-preparation enterprise to Sq., the DOJ has cleared the $7.1 billion acquisition by Intuit.
Funds Startup Stripe in Talks for Funding at $70 Billion Valuation or Extra from Bloomberg – This nation’s most precious personal fintech will quickly be much more beneficial with a brand new spherical within the works that would value the funds chief at between $70 and $100 billion.
LMI lender Oportun applies for nationwide banking constitution from Banking Dive – Oportun, the publicly traded fintech that serves decrease and center revenue Individuals, desires to brings it providing nationwide by making use of for a nationwide bank constitution.
It’s Nearly Changing into a Flood: Fintech Corporations Wish to Grow to be Banks from Lend Academy – I write concerning the pattern of fintechs making use of for bank charters and argue that this would be the future as fintech and banking converges.
Visa-Backed Marqeta Targets $10 Billion Valuation in 2021 IPO from Bloomberg – The wave of fintech IPOs reveals no indicators of abating with Marqeta being the most recent to throw their hat within the ring. They’ve reportedly employed underwriters in preparation for a 2021 itemizing.
This de novo desires to be the go-to bank for fintechs from American Banker – Penny Crosman interviews Wendy Cai-Lee, the CEO and founding father of Piermont Bank because it seems to tackle established gamers like Cross River and Evolve Bank & Belief.
GM Plans to Search Banking Constitution to Develop Auto-Lending Enterprise from The Wall Street Journal – It’s not simply fintechs making use of for bank charters, General Motors is seeking to get again into the banking enterprise with plans to use for an ILC constitution.
Cellular banking app Present raises $131M Sequence C, tops 2 million members from TechCrunch – One other digital bank continues to develop and is now approaching Unicorn standing with this newest funding spherical.
PayPal Is Successful The $24 Billion Purchase Now, Pay Later Battle—For Now from Forbes – Ron Shevlin writes a couple of new survey performed by Cornerstone Advisors on the Purchase Now Pay Later area, who’s utilizing it, what number of and their reimbursement historical past.
Ripple Is Cashing Out a Third of Its Stake in Surging MoneyGram from Fintech Zoom – With MoneyGram’s stock surging this yr Ripple has determined to take some income on its giant stake, promoting one-third of its funding (you’ll be able to be taught extra particulars concerning the partnership between Ripple and Moneygram in my newest podcast with Ripple’s SVP of Product, Asheesh Birla, revealed yesterday).
