January 31, 2024 @ 8:36 am By JD Alois  |  

Apple (NASDAQ:AAPL) has revealed that the number of Apple Card holders now numbers over 12 million since its launch in 2019. Apple partners with Goldman Sachs (NYSE:GS) to provide the Fintech services. At the same time, in the past several days, Apple moved its Apple… Read More

January 30, 2024 @ 5:25 pm By JD Alois  |  

LendingClub (NYSE:LC) reported Q4 earnings today generating a net income of  $10.2 million and a diluted EPS of $0.09. A year prior in the same quarter, LendingClub generated a net income of  $38.9 million and a diluted EPS of $0.36. Scott Sanborn, CEO of LendingClub,… Read More

January 30, 2024 @ 4:10 pm By JD Alois  |  

PayPal (NASDAQ:PYPL), a top payments Fintech that also includes Venmo, is letting go around 9% of its workforce or approximately 2500 individuals according to multiple reports. CNBC said that PayPal CEO Alex Criss distributed an internal memo indicating the exits will take place throughout the… Read More

January 30, 2024 @ 3:09 pm By JD Alois  |  

As was reported yesterday the founders and promoters of Hyperfund, an alleged $1.89 billion crypto fraud, face both a civil action by the Securities and Exchange Commission as well as criminal charges brought by the US Department of Justice. Sam Lee has been charged in… Read More

January 30, 2024 @ 2:53 pm By JD Alois  |  

SellersFi (formerly SellersFunding) is reporting that it has inked a deal to provide credit on the Amazon (NASDAQ:AMZN) marketplace. According to the Fintech, eligible Amazon sellers will be able to tap into a credit line of up to $10 million via Amazon Lending. Ricardo Pero,… Read More

January 30, 2024 @ 9:39 am By JD Alois  |  

As was previously announced, Neobank Dave (Nasdaq: DAVE) has repurchased a convertible note that was held by FTX Ventures, the VC arm of FTX, initially funded with $2 billion. In a public statement Dave noted the original principle amount was $100 million with a purchase… Read More

January 30, 2024 @ 8:38 am By JD Alois  |  

As Lithuania explains, only a short time ago few people knew about the country – much less where it is located. Today, Lithuania punches above its weight class when it comes to attracting innovative young firms – including many Fintechs. According Invest Lithuania and its… Read More

January 29, 2024 @ 10:24 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against HyperFund and its principles alleging a $1.7 billion “Crypto Pyramid scheme.” Founders Xue Lee (aka Sam Lee) and Brenda Chunga (aka Bitcoin Beautee) were said to have promoted HyperFund which allegedly claimed guaranteed returns for… Read More

January 29, 2024 @ 8:11 pm By JD Alois  |  

SoFi (NASDAQ:SOFI), a regulated digital bank that provides many different financial services, reported Q4 financial results today and Wall Street likes them. SoFi became a public company via a SPAC deal. Currently, shares in SoFi closed over 20% higher on the news now trading over… Read More

January 29, 2024 @ 3:14 pm By JD Alois  |  

NatWest is planning to close 30 more bank branches in 2024, according to a report by GBNews. This most recent revelation of branch closures just adds to the dozens of closures that have taken place in recent months. The report lists the locations of the… Read More

January 29, 2024 @ 11:13 am By JD Alois  |  

Koho, a Canadian Fintech, says it is moving forward with its pursuit of a banking license. According to a note from the firm, Koho has entered the “next phase” of securing approval from regulators. Koho currently offers a spending and savings account and an integrated… Read More

January 29, 2024 @ 10:56 am By JD Alois  |  

Two open banking providers have announced a strategic partnership. Clowd9 and Ozone API will now work together globally. Open API, as it names alludes to, provides open banking services to its clients. Clowd9 is a payments platform that will now be incorporated into the Ozone… Read More

January 29, 2024 @ 9:14 am By JD Alois  |  

Birchal, the largest investment crowdfunding platform in Australia has distributed a report updating on the activity of issuers pursuing online capital formation in the country. “Crowd-sourced funding,” as online securities offerings are labeled in Australia, are said to have remained “stable” generating A$71 million during… Read More

January 26, 2024 @ 5:42 pm By JD Alois  |  

EquityMultiple, an established real estate crowdfunding platform, is looking to raise money on Wefunder. According to the filing with the SEC, EquityMultiple aims to raise up to $3.5 million. The company is selling a SAFE, which allows investors to purchase preferred shares at a future… Read More

January 26, 2024 @ 5:14 pm By JD Alois  |  

Approximately $132 million in Bitcoin will be auctioned off by the Feds as part of the seizure from dark web activity. ($129,251,164.54 + $3,304,833.65) According to a notice filed by the US Department of Justice, Bitcoin seized from Ryan Farace and Sean Bridges in 2021… Read More

January 26, 2024 @ 11:26 am By JD Alois  |  

ieDigital is reporting that it has acquired ABAKA as part of a strategy to provide AI-powered Fintech to credit unions in the US. Typically, financial services firms like credit unions or smaller banks do not have the capacity to develop Fintech in house. Thus they… Read More

January 26, 2024 @ 11:00 am By JD Alois  |  

Following the news that they are cutting employee headcount in Europe, Seedrs has promoted several executives while revealing the departure of its CEO. According to a blog post authored by Seedrs founder and Executive Chairman Jeff Lynn – John Lake and Joel Ippoliti have leveled up within… Read More

January 26, 2024 @ 10:16 am By JD Alois  |  

UK-based AltFi, a digital news publication covering financial technology, has announced it will be shutting down. Launched ten years ago just as Fintech was emerging as a hot sector of financial services, AltFi was known for its coverage of the UK market and annual events…. Read More

January 26, 2024 @ 8:54 am By JD Alois  |  

The Digital Lending Association (DLA) in Germany has added two new members: Euro ABS and GvW Graf von Westphalen. Euro ABS services the asset-backed security market globally. GvW Graf von Westphalen is a partnership of attorneys and tax consultants with offices across Germany but providing… Read More

January 25, 2024 @ 3:49 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy, the North American Securities Administrators Association (NASAA), and the Financial Industry Regulatory Authority (FINRA) have jointly issued a warning regarding the rise of investment frauds involving the use of artificial intelligence (AI) –… Read More