Tagged: texas

Corporate Entity Management Platform, ZenBusiness, Completes Acquisition of Fintech Platform, Joust

ZenBusiness, a corporate entity creation and management firm that makes it easy to start, run, and grow their businesses, has reportedly finalized its first acquisition of Austin-based Fintech platform, Joust. The amount that will be paid for the acquisition hasn’t been shared publicly. Ross Buhrdorf,… Read More

Wilmington Fintech Apiture to Work on Digital Transformation Strategy after Acquiring $20 Million in Capital

Wilmington-based Fintech company Apiture is reportedly planning to scale its business operations after acquiring $20 million in capital through an investment round. Established in 2017, Apiture also has business offices in Austin, Texas. The company says it is working on its digital transformation strategy as… Read More

BBVA USA Set to Open 15 New Branches Across Texas

BBVA USA announced on Wednesday it has received approval to open 15 new branches across the state of Texas. According to BBVA USA, the branches are set to open in early 2021 and underscore the bank’s 5-year strategic plan launched in early 2020, which aims… Read More

Payroll and Bookkeeping Software Firm ScaleFactor Shuts Down due to Declining Revenue Following COVID-19 Outbreak

Business software provider ScaleFactor is reportedly shutting down, after securing $100 million in capital during the past year from major investors including Bessemer Venture Partners and Coatue Management. In March 2020, the financial services company began experiencing challenges due to the global COVID-19 outbreak, which… Read More

San Francisco based Fintech Synapse Reportedly Lays Off Half its Workforce, Now Focused on Restructuring Business Due to COVID-19

San Francisco-based Fintech firm SynapseFI has reportedly cut down the number of employees on its payroll. The company is also planning to expand its operations in Texas in order to diversify its business strategy and survive the COVID-19 crisis. Synapse offers several back-office financial products… Read More

U.S. Insurtech Branch Announces Launch in Texas

  Branch, a U.S.-based insurtech startup, announced on Monday it has launched in Texas. The launch notably marks the company’s fifth expansion since launching in August 2019. As previously reported, Branch “taps” into the power of community to make insurance accessible and affordable for everyone,… Read More

Netherlands-based Digital Banking Software Developer Backbase to Help Vantage Bank Consolidate its Financial Services

Texas-based Vantage Bank has reportedly chosen Netherlands-based Backbase and its online banking platform to consolidate the institution’s services that it offers to clients. Jouk Pleiter, CEO at Backbase, noted that the partnership is “particularly exciting.” Established in 1923 as San Antonio National Bank, Vantage merged… Read More

Dallas-based Texas Capital Bank Introduces Digital Savings Account that Pays Air Miles instead of Accumulating Interest

Dallas-based Texas Capital Bank has officially introduced Bask Bank, an online savings account that earns American Airlines AAdvantage miles, instead of accumulating interest. As mentioned on Bask’s website, the bank is a member of the Federal Deposit Insurance Corporation (FDIC), which means customers’ total deposits… Read More

Danger! Texas State Security Board Includes Cryptocurrency Offerings on List of Top Investor Threats

The Texas State Security Board (TSSB) has published its list of “Top Investor Threats in 2020 – and How to Avoid Them.” Included on the list are crypto offerings. The TSSB is the securities regulator for the state of Texas. The regulator has been active… Read More

20 Texas Municipalities Suffer Coordinated Ransomware Attack

At least twenty local governments in Texas are now coping with a “coordinated ransomware attack on municipality computer systems,” the Texas Department of Information Resources (DIR) reports. Affected cities and towns are not named in the release. A response is being coordinated by the Texas Division of… Read More

Texas Issues Cease and Desist Orders Against Unregistered Crypto and Forex Investment Entity

The Texas State Securities Board (TSSB) has issued cease and desist orders against “Forex and Bitcoin Trader,” an unregistered dealer of cryptocurrencies, derivatives and foreign currency promising 900% returns in 14 days in online advertisements targeting Dallas investors. This is the fourth emergency action undertaken… Read More

Texas Securities Board Launches Second “Investigative Sweep” in Response to Recent Tripling of Bitcoin Price

Three parties accused of soliciting Texas investors with fraudulent cryptocurrency offerings have received emergency cease and desist orders as part of Texas’ “second regulatory sweep of cryptocurrency investment offerings.” Like the first sweep, which began in December 2017, the second sweep has been launched, “in… Read More

U.S. Fintech Fundbox Announces Expansion: Opens New Dallas-Area Office to Support Growth

Fundbox, a cash flow optimization tool platform for small businesses, announced on Friday it has opened a new Dallas-area office in order to support its rapid growth. The company’s location will be in Plano, Texas. Founded in 2012, Fundbox claims it has built the first… Read More

Texas Moves to Ban Private Cryptocurrencies, Impose Universal KYC

One of crypto’s main use cases -anonymity- has taken a hit in the state of Texas this week. An untitled bill (4371), which will require all cryptocurrency transactions to be conducted using unnamed “varied identity digital currencies,” has been introduced into the Texas state legislature…. Read More

CrowdOut Opens New Office in Dallas & Appoints Stu Bell as New Managing Director

Private lending syndication platform CrowdOut Capital announced on Wednesday it has opened a new office in Dallas and appointed Stu Bell as its new Managing Director, who has more than 20 years of experience in commercial banking and private equity.. This news comes just two… Read More

Texas Sanctioned 16 Fraudulent Crypto Offerings in 2018, Including Bitconnect

The latest enforcement report from the Texas State Securities Board states that the regulator issued cease and desist orders against 16 unlicensed crypto ventures soliciting investors in Texas in 2018. The most noteworthy of those ventures is Bitconnect, a massive global crypto Ponzi scheme that accumulated… Read More

AriseBank CEO Indicted in Texas for Cryptocurrency Fraud, Faces Possible Prison Sentence

Jared Rice Sr, the man behind AriseBank and the associated cryptocurrency/token, AriseCoin, has been indicted in the Northern District of Texas and, if convicted, faces a possible prison sentence of 120 years. Rice Sr was arrested by the FBI Wednesday and is charged with 3… Read More

Texas Issues Emergency Cease-and-Desist Orders Against My Crypto Mine

  The Texas State Securities Board (TSSB) has issued an emergency cease-and-desist order against an accused serial fraudster, Mark Steven Royer. Mr. Royer is allegedly selling the “My Crypto Mine” project, which bears the features of a pyramid scheme. Earlier this year, Royer and two partners… Read More

Texas State Securities Board Issues Emergency Action Against Crypto Mining Promoters based in Canada & Australia

The Texas State Securities Board has issued an emergency cease and desist order to two ostensible cryptocurrency miners. Yesterday, the C&Ds were placed against Quebec, Canada-based EXY Crypto, and AWS Mining PTY Ltd., based in Sydney, Australia. Texas Securities Commissioner Travis J. Iles issued a statement indicating the… Read More

Credit Karma Announces Expansion into Insurance; Launches Auto Insurance Offers in California & Texas

Credit Karma announced earlier this week it is now offering car insurance in Texas and California. Credit Karma’s members in those states are now able to see what they could be paying for auto insurance based on what members like them are paying for the same coverage…. Read More

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