Tagged: debt

Household Debt Tops $17.5 Trillion, Credit Cards at Whopping $1.13 Trillion

The debt train keeps on running. A New York Fed report published today shares that total household debt has now topped $17.5 trillion as of Q4 2023. If you compare it to the same quarter in 2022, when total debt stood at $16.9 trillion, this… Read More

Financial Wellness Benefits from DailyPay Are Reportedly Helping Workers Avoid High Fees Associated with Payday Loans

Retail workers are able to avoid “financially crippling” fees associated with payday loans and late penalties, while amassing less credit card debt when they have access to the financial wellness benefit of DailyPay, according to an update shared by the Fintech firm. The research follows… Read More

UK’s PensionBee Reveals that Student Loan Repayments Might Stay with Graduates into Retirement Years

Students off to university for the first time this year could be “the first crop of graduates who face repaying their university debts into retirement,” according to PensionBee, an online pension provider. As noted in a blog post by PensionBee, this year’s Freshers will be… Read More

Juniper Square Partners with Pereview, the Life of The Asset Software Platform Supporting Equity, Debt for Real Estate Investments

Juniper Square has announced an exclusive partnership with Pereview, the only Life of The Asset® software platform supporting both equity and debt for real estate investments. By connecting Pereview’s in-depth asset data to Juniper Square, their joint clients can seamlessly “share both asset-level and portfolio… Read More

SoFi at Work Introduces Student Loan Verification Service to Help Workers Pay Off Student Debt

SoFi at Work – the holistic, financial well-being, and education assistance benefits partner to more than 1,000 organizations – announced the launch of a new Student Loan Verification (SLV) service. SoFi (NASDAQ: SOFI), the digital personal finance company and all-in-one app, announces this new addition… Read More

Fintech Array Introduces Debt Manager to Provide Complete View of Credit, Loan Acct Details

Array announced the launch of Debt Manager, an embeddable solution that provides real-time information on a consumer’s debt. This new app “allows financial institutions, fintechs, and digital brands to speed up information sharing during the lead qualification or debt management process, mitigate borrower risk and… Read More

BNPL Is Transforming Online Shopping for Younger Consumers, TrueAccord Report Reveals

Buy Now, Pay Later (BNPL) plans have taken over as a “popular” financing option for consumers, partly due to “an increase in online shopping demands during the pandemic,” the TrueAccord team notes in a blog post. In 2021, Americans “spent more than $20 billion through… Read More

CFPB Issues $4M in Penalties, Permanent Bans Against Predatory Collection Ring: Report

On May 23, 2022, the Consumer Financial Protection Bureau (CFPB), in partnership with the New York Attorney General, filed a proposed judgment “against a debt collection enterprise with a history of deception and harassment to pay $4 million and be permanently banned from the debt… Read More

Digital Debt Collection Fintech TrueAccord Shares Survey in Which Consumers Talk “Financial Regrets”

Most US consumers are in enough credit card debt and they might do anything to “go back in time and change the outcome of their financial situation,” according to research shared by Fintech firm TrueAccord. TrueAccord notes that a survey of 2,000 general population Americans… Read More

Indian fintech BharatPe to raise $175 mn debt, offers super-bikes to new hires

Indian fintech BharatPe plans to raise around USD 175 million or INR 1,300 crore in debt, according to a news report by Entrackr. Founded in 2018 by Ashneer Grover and Shashvat Nakrani, BharatPe is a merchant-payments and lending solutions provider. Since its inception, the company… Read More

Auto-financing platform Lendbuzz raises $360 mn, to double headcount at 100

AI-based auto finance platform Lendbuzz has raised a total $360 million investment in part debt and equity. The US-based fintech started by two Israeli entrepreneurs –Amitay Kalmar and Dan Raviv, has raised $60 million in Series C equity financing led by Wellington Management, Goldman Sachs… Read More

SoFi Launches Credit Card to Help Users Pay Down Their Debt

SoFi, one of the most successful fintechs in the U.S., announced on Wednesday it has launched its first-ever credit card. According to SoFi, the credit card incentivizes healthy financial habits and delivers on its mission to help people get their money right. The card, which… Read More

As Fintech Zopa Launches UK based Bank, Debt Advice Charity StepChange to Provide Free Debt and Money Management Tools to Customers

UK-based StepChange, a leading debt advice charity, reportedly helps more than 600,000 consumers by offering free-of-cost, “impartial” debt advice every year. The company claims that it sees first hand how talking openly about money management problems can help people, which is why the team at… Read More

Real Money Management Professional Laura Whateley from Zopa Recommends Repaying Towards Debts As Soon As Possible

Laura Whateley, a real money management correspondent at Zopa, a Fintech lender and digital bank, notes that at the beginning of the COVID-19 pandemic, it wasn’t really clear how our finances would be affected, and that might still be the case for many individuals and… Read More

Digital Money Transfer Service Azimo Signs €20 Million Venture Debt Deal With European Investment Bank

The European Investment Bank (EIB) announced on Tuesday it has signed a €20 million venture debt deal with digital money transfer service, Azimo. EIB reported that the financing is supported by the European Fund for Strategic Investments (EFSI), the financial pillar of the Investment Plan… Read More

U.S. Fintech Lendbuzz Secures $150 million in Debt & Equity Financing

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Lendbuzz, a U.S.-based fintech company that aims to disrupt the existing car financing market using machine learning algorithms, announced on Monday it secured $150 million in debt and equity financing. The company reported that this latest funding round was led by 83North with significant participation from existing… Read More

Canadian Fintech Progressa Surpasses $100 million in Debt Relief

Progressa, a Vancouver-based fintech company that is focused on helping sub-prime and near-prime Canadians seeking to improve their financial health, announced on Tuesday it has surpassed the $100 million milestone in funded loans for underserved Canadian consumers. The company reported since 2013, Progressa has helped… Read More

SoFi Launches “Refi and Relax” Program to Combat Against Student Loan Anxiety

Online lending platform SoFi announced on Tuesday it has launched its Refi and Relax campaign, which the lender explained is on a mission to educate graduates on their refinancing options as a way to relieve the overwhelming stress that comes with carrying student debt. The… Read More

GoFundMe Reveals: Crowdfunding Community Raises Over $375,000 to Erase School Lunch Debt

On Tuesday, global crowdfunding platform GoFundMe announced its community has raised more than $375,000 to eliminate school lunch debt. According to the funding portal, its users have started these campaigns to pay off the accounts of children whose families couldn’t afford them. It was noted… Read More

Fineqia Limited Launches Beta Version For New Debt & Equity Platform

Fineqia International Inc. (CSE: FNQ) (OTCPink: FNQQF) (Frankfurt: FNQA) has announced today that its U.K. subsidiary Fineqia Limited is launching a beta version of its new debt and equity platform that brings crowd investors selected and risk-mitigated opportunities, many of which were previously only available to… Read More

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