March 20, 2023 @ 12:57 pm By JD Alois  |  

Smart Lenders AM, an asset management company specializing in managing portfolios of loans from established marketplace lenders, online-lending platforms and crowdlending platforms, has issued a statement in light of the ongoing market volatility and strain on the banking sector. Since its launch, Smart Lenders AM… Read More

March 20, 2023 @ 9:46 am By JD Alois  |  

Boutique Fintech investment bank FT Partners has kicked off a new service: Fintech equity research. Over the years, the number of analysts actively following smaller, publicly listed firms have diminished. While there are various reasons for this decline, in the end equity research now tends… Read More

March 20, 2023 @ 8:44 am By JD Alois  |  

The US Federal Reserve has made the following statement: The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity… Read More

March 20, 2023 @ 8:35 am By JD Alois  |  

Signature Bridge Bank, the new bank created by the Federal Deposit Insurance Corporation (FDIC) after it took over failed Signature Bank, is effectively being acquired by a subsidiary of New York Community Bancorp. According to a statement by the FDIC, substantially all deposits and certain… Read More

March 19, 2023 @ 4:12 pm By JD Alois  |  

Several government entities have commented on UBS’s recently announced takeover of Credit Suisse. The acquisition was supported by the Swiss government. Credit Suisse faced a crisis of confidence this past week, which could have spilled over into this coming week. Swiss government officials worked to… Read More

March 19, 2023 @ 3:13 pm By JD Alois  |  

The Swiss Financial Market Supervisory Authority FINMA has approved the acquisition of Credit Suisse by competitor UBS. The move was announced earlier today as Credit Suisse had endured a difficult week after rumblings of financial challenges at the bank. On March 15, FINMA issued a… Read More

March 17, 2023 @ 5:27 pm By JD Alois  |  

FibroBiologics has quickly raised $5 million in a Reg CF securities offering on StartEngine. This is the maximum amount a company may raise under the securities exemption. The offering has been live for about four weeks so it was fully subscribed pretty quickly. According to… Read More

March 17, 2023 @ 5:09 pm By JD Alois  |  

Earlier this week, lost in the cacophony of the broader banking crisis, Anchorage Digital announced that it was “restructuring” and letting go 75 employees or 20% of its workforce. Anchorage said their “long-term vision” requires a certain amount of agility as things change. The “strategic… Read More

March 17, 2023 @ 3:43 pm By JD Alois  |  

Lano, a Germany-based Fintech that provides global payroll services, is raising growth capital on OurCrowd. At the recent OurCrowd Investor Summit, CI had a chance to chat with founders Markus Schneemann and Aurel Albrecht. The two entrepreneurs shared that Lano currently can provide payroll services… Read More

March 17, 2023 @ 11:08 am By JD Alois  |  

Probably best known for its insurance products for private securities offerings (crowdfunding), Assurely and Buildertrend have announced a new partnership for builders’ insurance. Buildertrend is a residential construction management platform. Since 2006, the company reports that it has helped contractors to take control of projects… Read More

March 17, 2023 @ 9:21 am By JD Alois  |  

The troubled banking system continues to struggle to regain its footing following the collapse of several banks that found themselves upside down after a rapid rise in interest rates. The banks holding long-duration assets saw their value tank adding stress to the overall financial system…. Read More

March 17, 2023 @ 9:11 am By JD Alois  |  

Representative Patrick McHenry, Chairman of the House Financial Services Committee, has issued a statement on the move by big banks to assist First Republic Bank. Yesterday, the largest banks in the US as well as two investment banks, announced $30 billion in deposits for First… Read More

March 16, 2023 @ 7:09 pm By JD Alois  |  

FedNow, the US Federal Reserves – a near real-time transfers platform that will soon be made available to all banks in the United States, will enable individuals and businesses to move their money in a frictionless manner. In development for years, FedNow is currently scheduled… Read More

March 16, 2023 @ 3:48 pm By JD Alois  |  

The largest banks in the US have joined to support First Republic Bank by providing $30 billion in money to backstop the firm reflecting their “confidence in the country’s banking system.  Bank of America, Citi, JP Morgan Chase, and Wells Fargo each have committed $5… Read More

March 16, 2023 @ 3:29 pm By JD Alois  |  

Stripe, a leading Fintech in the payments and transaction sector, has raised $6.5 billion (€6.15 billion) at a $50 billion (€47 billion) valuation. The “Series I” round took a significant haircut from its last round. In 2022, Stripe raised money at a $74 billion valuation. … Read More

March 16, 2023 @ 11:02 am By JD Alois  |  

Neobank PayStand is looking to provide an alternative to bank cash management following the collapse of several banks and the ongoing panic regarding regional/smaller banks. First, Silvergate Bank failed, followed by Silicon Valley Bank and First Republic. The ensuing fear, uncertainty, and doubt pushed people… Read More

March 16, 2023 @ 10:19 am By JD Alois  |  

Circle, the issuer of dollar-based stablecoin USDC, was hammered when it was announced that the Fintech held $3.3 billion at Silicon Valley Bank (NASDAQ:SIVB). For a long minute, things looked a bit dire. That reversed when the federal government decided to back all deposits –… Read More

March 16, 2023 @ 10:02 am By JD Alois  |  

Online investment platform SyndicateRoom has distributed an update on its performance. According to an email, SyndicateRoom’s Access Fund 2020 cohort is up 45%, not including tax reliefs or loss reliefs. Tax benefits may include EIS/SEIS programs that mitigate risk and could reduce any capital gains…. Read More

March 16, 2023 @ 9:22 am By JD Alois  |  

Pointing at persistent inflation, the European Central Bank (ECB) has increased benchmark rates by 50 BPS. The Governing Council of the ECB said it decided to raise the three key interest rates by 50 basis points. Accordingly, the interest rate on the main refinancing operations… Read More

March 16, 2023 @ 8:54 am By JD Alois  |  

The FedNow Service will commence operations this coming July, according to a statement by the US Federal Reserve. FedNow is an effort to facilitate instant payment services by financial institutions 24/7/365. Currently, most transactions provided by legacy financial institutions can take days. Both businesses and… Read More