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

March 16, 2023 @ 8:36 am By JD Alois  |  

Credit Suisse (NYSE:CS) has taken “decisive action” to buttress its balance sheet by tapping into a CHF 50 billion ($54 billion) loan from the Swiss National Bank. (SNB) In recent days, shares of Credit Suisse had been hammered by speculation that the bank was in… Read More

March 15, 2023 @ 7:30 pm By JD Alois  |  

Brex, a neobank providing various services for businesses to manage  their finances, has taken some heat today as Kenneth Ballenegger hammered the platform on Twitter for announcing a “massive devaluation with zero notice period of their rewards points.” Ballenegger, formerly of Republic/AngelList, is a VC… Read More

March 15, 2023 @ 3:47 pm By JD Alois  |  

The Swiss Financial Market Supervisory Authority (FINMA) and the Swiss National Bank (SNB) have issued a joint statement on “market uncertainty.” The statement follows the rapid decline in the share value of Credit Suisse (NYSE:CS). The global bank is viewed as the worst home in… Read More

March 15, 2023 @ 12:53 pm By JD Alois  |  

CrowdProperty has returned to Seedrs to raise another funding round. CrowdProperty is a profitable Proptech that matches investors to borrowers. According to the offering page, CrowdProperty is seeking a minimum raise of £400,009 at a pre-money valuation of £41.9 million. This represents an equity interest… Read More

March 15, 2023 @ 12:36 pm By JD Alois  |  

Bitfinex Derivatives has announced a range of perpetual contracts for some global commodity indices. Bitfinex noted that the contracts are only available for certain accounts in certain jurisdictions. The platform said the commodity contracts will allow Bitfinex Derivatives customers to trade products usually available on… Read More

March 15, 2023 @ 12:06 pm By JD Alois  |  

Chancellor of the Exchequer Jeremy Hunt delivered the Spring Statement today, making several big announcements, including a huge change in retirement planning. Hunt said that the Conservative government’s approach to the economy is “on the right track” while noting they “remain vigilant” and will take… Read More

March 15, 2023 @ 9:16 am By JD Alois  |  

Accelerated Payments, an invoice financing provider, has announced the appointment of C Ray Hines as Vice President of Business Development. Hines is expected to help increase the Fintech’s market share in North America – more specifically, the midwest. The company said the new hire is… Read More

March 14, 2023 @ 5:55 pm By JD Alois  |  

Prior to the US government’s decision to backstop all deposits, under the management of the Federal Deposit Insurance Corporation (FDIC), bank accounts were ONLY insured up to$250,000. While this amount has not been much of a problem in the past, last week, the world changed,… Read More