Tagged: covid-19

April 24, 2020 @ 8:18 am By Omar Faridi  |  

Fintech funding has declined significantly during the first quarter of this year, mainly due to the Coronavirus (COVID-19) outbreak, and resulting social and economic challenges. A recent report from Forrester has cautioned that many companies could be forced to shut down as the effects of… Read More

April 24, 2020 @ 1:07 am By Omar Faridi  |  

UK-based digital bank Monzo has been planning to enter the US market for a fairly long time. A beta launch in the US was announced in late 2019. The banking challenger, which has been valued at over $1 billion, has managed to almost double its… Read More

April 23, 2020 @ 10:47 pm By Omar Faridi  |  

Crypto and blockchain or distributed ledger tech (DLT) firms have been developing solutions to help people cope with the deadly Coronavirus (COVID-19) outbreak. Several crypto and Fintech firms and organizations have launched charitable initiatives in order to provide financial relief and other types of assistance… Read More

April 23, 2020 @ 4:29 pm By JD Alois  |  

Earlier this week, Crowdfund Insider wrote about the challenges some Fintech lenders are encountering due to the ongoing COVID-19 pandemic. Online lenders in the SME, consumer, and real estate sector are seeing a shift in business as borrowers and investors back away in a market… Read More

April 23, 2020 @ 12:17 pm By Samantha Hurst  |  

PalmPay, an Africa-based payment startup, announced this week it is waiving fees on all money transfers and has launched a new ₦100 million COVID-19 support fund. According to PalmPay, the waiving of fees offer is now available for any amount to any Nigerian bank until… Read More

April 23, 2020 @ 8:01 am By Samantha Hurst  |  

Banking and finance industry organization UK Finance announced on Thursday that its latest data revealed more than £2.8 billion has been lent to SMEs so far through the Coronavirus Business Interruption Loan Scheme (CBILS). The organization reported that total lending under CBILS has doubled in… Read More

April 22, 2020 @ 10:33 pm By Omar Faridi  |  

Gnosis, a decentralized prediction market solution that spun out from Ethereum (ETH) development studio ConsenSys back in 2017, has launched a separate decentralized prediction market specifically for the Coronavirus (COVID-19) pandemic. Gnosis confirmed that it has provided $50,000 to help fund a non-profit Corona Information… Read More

April 22, 2020 @ 10:30 pm By Omar Faridi  |  

daVinci Payments, a Fintech company that facilitates global corporate payments, disbursements, virtual rewards and offers prepaid cards, has introduced a “Brand Accelerator,” which is a software-as-a-service (SaaS) platform designed to make payments “a seamless branded experience for recipients—from beginning to beyond the point of payment.”… Read More

April 22, 2020 @ 7:30 pm By Michael Burtov  |  

It’s no secret that there has always been a disconnect between the Venture Capital (VC) industry and the Startups that they fund. VCs are the embodiment of old school funding and their investments have, until recently, been the judge, jury, and executioner for countless innovation… Read More

April 22, 2020 @ 3:57 pm By JD Alois  |  

Yesterday, Crowdfund Insider covered the news that LendingClub (NYSE:LC), the largest Fintech consumer lender in the US, was furloughing and eliminating jobs due to the COVID-19 pandemic. The crisis has apparently driven the elimination of 471 individual jobs. Shockingly, LendingClub’s President saw his position eliminated…. Read More

April 22, 2020 @ 2:46 pm By Samantha Hurst  |  

Citizens Bank of Edmond announced on Wednesday it has teamed up with MX, a bank, credit union, fintech digital platform to launch a new Paycheck Protection Program (PPP) loan portal for the bank’s small business customers. According to Jill Castilla, President and CEO of Citizens Bank… Read More

April 22, 2020 @ 11:01 am By Samantha Hurst  |  

Lendsmart and Griffin Technologies, two U.S. fintechs that are building software for banks and credit unions, announced on Wednesday they have partnered to provide their customers a complete end-to-end solution for the Paycheck Protection Program (PPP), which was created under the original CARES Act following the COVID-19… Read More

April 22, 2020 @ 8:50 am By Samantha Hurst  |  

HouseCanary, a U.S.-based fintech firm focused on providing a real estate analytics solution, announced on Wednesday it has reviewed 41 states with the highest listing and transaction volume in the weeks since the COVID-19 pandemic hit the U.S. economy. According to HouseCanary, potential homebuyers were… Read More

April 22, 2020 @ 7:45 am By Omar Faridi  |  

France-based Fintech firm PayFit has upgraded its HR and payroll platform to allow UK companies to determine furlough and sick pay during the Coronavirus (COVID-19) crisis. The updates to PayFit’s human resources software will give PayFit users the option to submit Coronavirus-related leave requests. The… Read More

April 22, 2020 @ 1:00 am By JD Alois  |  

OurCrowd, the world’s largest crowdfunding venture investment platform, has announced it would lead a $12 million funding round in MigVax Corporation – a startup that is developing a COVID-19 vaccine. MigVax is affiliated with the Migal Galilee Research Institute, is pioneering the effort to develop… Read More

April 21, 2020 @ 11:37 pm By Omar Faridi  |  

UK-based company, For Good Causes, has officially launched its services, which allow people to convert their loyalty points and rewards into a digital charity donation. UK-based charity organizations have begun to experience a significant increase in the demand for their services, following the deadly Coronavirus… Read More

April 21, 2020 @ 5:26 pm By JD Alois  |  

The US Senate has unanimously approved more funding for the Paycheck Protection Program (PPP) created under the original CARES Act that was tapped dry several days ago. The approval by the Senate now queues up a vote in the US House of Representatives later this… Read More

April 21, 2020 @ 4:48 pm By JD Alois  |  

In a somewhat shocking but not unexpected move, LendingClub (NYSE:LC) has announced a round of layoffs and furloughs today as the COVID-19 pandemic has hit the Fintech hard. In brief, loan originations for the mainly consumer lender, have tanked requiring the Fintech to reposition itself… Read More

April 21, 2020 @ 7:52 am By Samantha Hurst  |  

Barclays announced on Monday it has opened up the Coronavirus Large Business Interruption Loan Scheme (CBILS) to help large corporate banking clients that are impacted by the COVID-19 pandemic. Barclays reported that through the program, which is backed by a UK Government guarantee, it will… Read More

April 21, 2020 @ 1:35 am By Omar Faridi  |  

Singapore-based remittance firm TranSwap is reportedly holding discussions to secure $5-10 million in capital. Benjamin Wong, co-founder and CEO at TranSwap, confirmed that the cross-border payments company is planning to close its investment round “quite soon”. As reported by e27, the Fintech firm has acquired… Read More