January 30, 2023 @ 12:16 pm By JD Alois  |  

SoFi Technologies (NASDAQ: SOFI) reported Q4 2022 and full-year earnings today, and the numbers surpassed analyst expectations. According to a release by SoFi, revenue during Q4 2022 was $456 million compared to Q4 2022 of $285 million in Q4 2021. For the year ended December… Read More

January 30, 2023 @ 11:59 am By JD Alois  |  

Lettingaproperty, a UK-based Proptech, is looking to raise £850,000 on Seedrs. Recently launched, the securities offering has almost raised its funding target. As of today, over £800k has been raised, backed by 123 investors. According to the offering page, Lettingaproperty is offering equity at a… Read More

January 30, 2023 @ 11:36 am By JD Alois  |  

A new report indicates that Fintech funding declined in 2022 as the sector was impacted by a challenging market. According to Tracxn, private Fintech firms in the UK raised a total of $11.2 billion in 2022, a drop of 13% from the year prior. In… Read More

January 30, 2023 @ 11:01 am By JD Alois  |  

Bamboo Capital, a VC impact investor, has exited its investment in Banco W based in Colombia, according to a note from the firm. Banco W S.A. is a regulated entity authorized by the Financial Superintendency of Colombia, created in 2011. Banco W aims to promote… Read More

January 30, 2023 @ 10:43 am By JD Alois  |  

Investment crowdfunding, or crowd-sourced funding (CSF) as it is called down under, generated $72 million in online capital formation, according to an industry report. The information is compiled by Birchal, the largest online investment platform in Australia. Birchals has been providing this report for several… Read More

January 30, 2023 @ 9:10 am By JD Alois  |  

Marqeta (NASDAQ: MQ) has announced the acquisition of Power Finance, a credit card management platform. Marqeta said in a public statement that it aims to boost its capabilities and leadership in the business of modern card issuing.  Marqeta said the purchase is expected to close… Read More

January 29, 2023 @ 11:47 pm By JD Alois  |  

Freightos (Nasdaq: CRGO), a global freight booking and payment platform, has listed its shares on the Nasdaq. Freightos is a long-time OurCrowd portfolio company and represents another exit for the global securities crowdfunding platform. Freightos went public as part of a SPAC deal sponsored by… Read More

January 29, 2023 @ 6:47 pm By JD Alois  |  

On Friday, the White House posted a statement on crypto and the administration’s policy pertaining to digital asset innovation. In recent months, multiple crypto firms have filed for bankruptcy and an algorithmic stablecoin, TerraUSD, ended up not being very stable – destroying holder value. Earlier… Read More

January 28, 2023 @ 3:59 pm By JD Alois  |  

On the same day the US Federal Reserve Board issued a new policy statement on banks engaging in crypto activity, several White House advisors posted a note on the “Administration’s Roadmap to Mitigate Cryptocurrencies’ Risks. The post pointed at the “tough year” for crypto, referencing… Read More

January 28, 2023 @ 3:30 pm By JD Alois  |  

The legal frameworks applicable to national banks, insured state banks, and uninsured state banks can result in differences in the scope of allowed activities depending on the type of entity, according to the US Federal Reserve. Regardless of this discrepancy, the Fed will be certain… Read More

January 28, 2023 @ 7:46 am By JD Alois  |  

Silicon Prairie has been approved to operate an Alternative Trading System (ATS). An ATS is similar to a securities exchange but with different regulatory requirements. An entity must first be approved as a broker-dealer before applying to become an ATS. This will enable Silicon Prairie… Read More

January 27, 2023 @ 11:40 am By JD Alois  |  

  Congressman Patrick McHenry, the Chairman of the powerful House Financial Services Committee, has announced the Committee staff for the 118th Congress. McHenry recently posted his newly formed subcommittees as well as each subcommittee Chair. The Congressman aims to shift the direction of legislation emanating… Read More

January 27, 2023 @ 8:45 am By JD Alois  |  

Fagura, a Fintech that aims to become the “first community digital bank in CEE for anyone to borrow, invest and transfer money,” has raised over €786,000 on Seedrs. According to the offering page, 287 investors backed the firm, which easily topped its €400,000 initial funding… Read More

January 26, 2023 @ 9:46 pm By JD Alois  |  

Dubai Investments PJSC, listed on the Dubai Financial Market [DFM], has acquired a 9% equity stake in Monument Bank Limited, a UK Based Digital Bank regulated by the Financial Conduct Authority (UK) and the Prudential Regulation Authority (UK). The terms of the deal were not… Read More

January 26, 2023 @ 5:23 pm By JD Alois  |  

  Simon Khalaf has been appointed as Marqeta’s (NASDAQ:MQ) new CEO, effective January 31, 2023. Previously Marqeta’s Chief Product Officer, Khalaf will also be joining Marqeta’s board of directors. Marqeta’s founding CEO Jason Gardner will now become the Executive Chairman of Marqeta. Gardner was previously… Read More

January 26, 2023 @ 3:22 pm By JD Alois  |  

The UK government created the Future Fund to provide access to capital to early-stage firms which were most likely unable to access debt capital during the COVID-19 health crisis. The fear was that a generation of innovative young firms would disappear as markets contracted and… Read More

January 26, 2023 @ 1:05 pm By JD Alois  |  

Earlier this month, the House Financial Services Committee announced the chairs of each subcommittee. New to the mix is the Subcommittee on Digital Assets, Financial Technology, and Inclusion.  Committee Chairman Patrick McHenry selected French Hill of Arkansas to Chair this newly minted subcommittee. In a… Read More

January 26, 2023 @ 12:01 pm By JD Alois  |  

Online lender Accelerated Payments has announced topping the €1 billion worth of invoice financing milestone. Based in Ireland, Accelerated Payments claims to be of the fastest-growing Fintechs in the world, with offices in Europe, the UK, Canada, and the USA. Accelerated Payments provides a solution… Read More

January 26, 2023 @ 11:35 am By JD Alois  |  

Wise (formerly dba as Transferwise) (LSE:WISE) has announced 15 new partners, in four different markets, to start 2023. In total, Wise now claims 60 partners globally. Wise shares that almost 10 million new customers gained access to Wise, via the Wise Platform, in 2022 alone…. Read More

January 26, 2023 @ 11:10 am By JD Alois  |  

The DNB considers the non-compliance to be very severe. The Dutch Central Bank (De Nederlandsche Bank or DNB) has fined Coinbase Europe Limited €3,325,000. The administrative penalty was assessed as Coinbase (NASDAQ:COIN) had been providing digital asset services in the Netherlands without registration and thus… Read More