August 4, 2023 @ 11:44 am By JD Alois  |  

Insurtech Functional Finance has raised $8 million in a seed round plus a SAFE of $2 million. A SAFE is typically a commitment for equity at a discount on a future date following an outlined event. The funding was led by New Enterprise Associates (NEA),… Read More

August 4, 2023 @ 6:37 am By JD Alois  |  

Yesterday, the Bank of England increased its benchmark rate by 25 basis points (bps) to 5.25%. The decision was anticipated by markets and follows the recent decision of the US Federal Reserve to increase rates as well. The Banks’ Monetary Policy Committee (MPC) voted 6… Read More

August 3, 2023 @ 3:55 pm By JD Alois  |  

Robinhood (NASDAQ:HOOD) posted Q2 2023 earnings yesterday reporting its first quarterly profit. Yet, shares declined on the news as investors wondered about other metrics, including a decline in users. Robinhood said that total net revenues increased 10% sequentially during the quarter to $486 million, primarily… Read More

August 3, 2023 @ 11:54 am By JD Alois  |  

Petal, a Fintech in the credit card sector, has received a $200 million debt facility from Victory Park Capital (VPC). At the same time, Petal states that it has agreed to an extension of an existing term loan as well as a new loan of… Read More

August 3, 2023 @ 11:26 am By JD Alois  |  

CrowdStreet founder Tore Steen has stepped down from his CEO position at the real estate investment marketplace, and Jack Chandler has taken over as interim CEO, according to a statement by the firm. Steen had been one of the longest-serving CEOs in the real estate… Read More

August 3, 2023 @ 10:43 am By JD Alois  |  

While interest rates continue to rise, online property lender LendInvest is bucking the trend with a lower Buy to Let rate starting at 4.54%. According to the company, in a move to boost business and get landlords back in the market, they are offering a… Read More

August 3, 2023 @ 8:09 am By JD Alois  |  

Apple (NASDAQ:AAPL), one of the largest Fintechs in the world, is reporting that its new Savings feature is now holding deposits of over $10 billion. Apple Savings is being offered in partnership with Goldman Sachs (NYSE:GS). Long expected, Apple launched Apple Savings on April 17th… Read More

August 2, 2023 @ 10:27 pm By JD Alois  |  

Groundfloor, a real estate investment platform, is now offering a series of new notes, with one that provides investors with an interest rate of 10%. Issued under the Reg A+ securities exemption, the Groundfloor notes represent non-traded, collateralized debt securities based on real estate loans…. Read More

August 2, 2023 @ 5:42 pm By JD Alois  |  

Regulation Crowdfunding (Reg CF) money raised during the month of July increased from $28 million in July 2022 to $33.7 million this July. But when comparing consecutive months, June 2023 faired better as the month prior generated $43.7 million in money raised. Crowdfund Capital  Advisors… Read More

August 2, 2023 @ 3:19 pm By JD Alois  |  

Luxury home marketplace Pacaso is reporting its “fastest selling Pacaso” ever. Pacaso is a home marketplace that enables the acquisition of homes, typically in desirable vacation or travel locations.  Co-founded by Austin Allison and Spencer Rascoff, Pacaso currently operates in 40 top second-home destinations. Pacaso says that… Read More

August 2, 2023 @ 11:41 am By JD Alois  |  

SMBX, a FINRA-regulated funding portal, has partnered with Mercer County’s new Small Business Investment Program to help small businesses raise funding directly through retail investors in their communities as well as nationwide. SMBX is best known for its bank-replacement product or the issuance of small… Read More

August 2, 2023 @ 11:29 am By JD Alois  |  

Eversheds Sutherland is representing an Ad Hoc Committee of Non-US Customers of FTX.com, aiming to protect non-US customers’ interests in the bankruptcy process of FTX. According to a statement from a representative of the Ad Hoc Committee, there are approximately 40 members representing about $2.5… Read More

August 2, 2023 @ 11:00 am By JD Alois  |  

OurCrowd, one of the largest securities crowdfunding platforms in the world, has signed up Airwallex to streamline the investing process.  The Airwallex service was actually integrated several months back, with more than a third of OurCrowd’s funding going through Airwallex, typically completed in under 24… Read More

August 1, 2023 @ 2:00 pm By JD Alois  |  

The Association of Online Investment Platforms (AOIP) has sent a letter to Congress asking policymakers to move forward legislation that aims to support access to capital for smaller firms and entrepreneurs. The AOIP was created to advocate on behalf of online capital formation for private… Read More

August 1, 2023 @ 11:55 am By JD Alois  |  

The Baltic states have gained the largest percentage of private equity and venture capital out of the European Union and the UK, according to a recent report. S&P Global Market Intelligence says Latvia, Lithuania, and Estonia had the highest percentages in their respective private business… Read More

July 31, 2023 @ 5:01 pm By JD Alois  |  

SoFi (NASDAQ:SOFI) saw its shares hit a new 52-week following quarterly results that topped analyst expectations. SoFi is a diversified Fintech that started life as an online lender – first targeting refinanced student loans – but has branched out into other financial verticals, including a… Read More

July 31, 2023 @ 12:10 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges for an unregistered securities offering involving crypto. According to the SEC, Richard Heart, also known as Richard Schueler, along with three separate firms, Hex, PulseX, and PulseChain, raised over $1 billion in an unregistered securities offering…. Read More

July 31, 2023 @ 11:08 am By JD Alois  |  

Tether has issued a report that claims over $3.3 billion in excess reserves after an increase of $850 million at the end of Q2 2023. Tether states that the assurance opinion was completed by BDO, which re-affirms Tether’s Consolidated Reserves Report (CRR), which breaks down… Read More

July 31, 2023 @ 10:43 am By JD Alois  |  

CapitalRise has provided financing for new luxury rooftop flats in Sloane Court East, Chelsea.  The loan will enable rooftop development, adding two storeys to the building which is currently six storeys high. Leading prime property finance firm CapitalRise has originated a new loan for the… Read More

July 31, 2023 @ 9:20 am By JD Alois  |  

The Financial Conduct Authority  (FCA) now has a higher duty when it comes to “consumer protection.”  As of today, the regulator has a new standard when it comes to financial services oversight. As outlined by the FCA: “You should expect:  helpful and accessible customer support,… Read More