LendingClub to cut 225 jobs as interest rate rises impact loan demand
Company execs say the layoffs are a result of “reduced marketplace revenue” due to interest rate increases.
Lending
Alipay partners Splitit for ‘pay after delivery’ offering
The service will initially launch in Germany, France and Spain, with plans to expand into other global markets.
Clearco lays off 30% of workforce, CEO Michele Romanow resigns
Romanow will reportedly transition to the role of executive co-chair and remain on the company’s board.
Goldman Sachs loses $3bn over three years on platform solutions business
Reuters reports the firm outlined a pre-tax loss of $1.2bn for the first nine months of 2022.
BNPL fintech Tabby lands $58m in Series C funding
The Dubai-based firm plans to use the funding to support its growth and expand its product line.
Enfuce and Orka Ventures launch consumer lending product in Europe
Orka Card will enable customers to integrate all their existing bank accounts into one card and app.
New consumer lending fintech Salmon launches in the Philippines
Salmon claims to have over 2,000 customers and over 30 merchant partners for its lending product.
How Drip Capital is simplifying trade financing for SMBs in emerging markets
FinTech Futures chats with Pushkar Mukewar, founder and CEO of Indian fintech Drip Capital.
2023: the final countdown for incumbents versus challengers
If incumbents fail to adapt in 2023, challengers could gain the lion’s share of the market once and for all.
ICYMI fintech funding round-up: Butter, Mondu, kompasbank and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Healthcare paytech Paytient lands $40.5m Series B
The round consists of $33m in equity and $7.5m in debt from Silicon Valley Bank.
UK specialist lender Connect makes new senior hires for “ambitious growth”
Founder and CEO Liz Syms says the new hires will help deliver on Connect’s “ambitious plans”.
Allianz, Santander CIB and Two partner for corporate BNPL solution
The solution means corporates can now offer business buyers deferred payments at checkout through a single API.
Funding Circle appoints Steve Allocca as US managing director
Prior to Funding Circle, Allocca was chief operating officer (COO) at small business banking provider BlueVine.
Mortgage tech firm Twenty7tec acquires Broker Sense and Meet Parker
The deals follow Twenty7tec’s acquisition of fellow UK fintech Bluecoat Software in June last year.
Indian neobank Jupiter lands $12m in venture debt financing
Jupiter says the funds will go towards scaling up the neobank’s suite of lending products.
KreditBee extends Series D funding round with additional $100m
The news follows KreditBee’s $80 million fundraise as part of its Series D funding round last month.
FinTech Futures: Top five stories of the week – 6 January 2023
Here’s our pick of five of the top news stories from the world of finance and tech this week.
Australian fintech Grapple secures $35m in funding
Sydney’s Grapple landed $35 million in a warehouse debt facility from Global Credit Investments (GCI).
IDC report: New data sources and innovative AI redefining the business of lending
How technology advancements and new data sources, including alternative data, are pushing the boundaries of borrowing.
Japan’s Smartpay launches open banking digital payments service
Smartpay claims it is the first digital consumer finance firm to utilise Japan’s open banking system.
Guide: Life in 3D – using alternative data to power credit risk decisioning
Alternative data has the power to assist in achieving growth and expanding your business.
eBook: Back to the future – 8 features of fast and future-proof BNPL technology
Discover what tools you need to get ahead and stay ahead as BNPL grows its market share.
eBook: SME lending – the road to real-time approvals
Accelerate your SME lending with quick credit approvals.
Indian fintech start-up SarvaGram bags $35m Series C funding
Founded in 2018, SarvaGram last raised $10 million in a Series B funding round in 2021.
Money View secures $75m Series E funding at $900m valuation
The round was led by Apis Partners, and saw participation from Tiger Global, Winter Capital and Evolvence.
Ten fintech predictions for the year ahead
2023 will be another year of fintech innovation and growth.
2022: Top five fundraising rounds of the year
FinTech Futures recaps the top five fundraising rounds this year.
Splitit and Worldline ink North American BNPL deal
Initially, Worldline plans on integrating Splitit into its North American processing platform before expanding into other geographies.
Webinar: Digital lending 2.0 – fulfilling new customer expectations through technology
Rocket Mortgage, Five Star, Salesforce discuss how technology can help address the challenges lenders face.
White paper: How mortgage-as-a-service levels the playing field for minority and first-time homeowners
How industry leaders leverage mortgage-as-a-service to increase minority and first-time homeownership.
Wells Fargo fined $3.7bn for loan, mortgage and deposit mismanagement
Wells Fargo must pay more than $2bn in redress to 16 million affected consumers and a $1.7bn civil penalty.
South Korean tech firm behind super-app Toss raises $405m Series G funding
Tonic Private Equity led the Series G round along with a number of existing investors.
The What the FinTech? podcast | Season three’s jailed buzzwords
We run down all the buzzwords our podcast guests wanted gone from the industry this year.
UK fintech Updraft secures £108m debt and equity funding
The money will be used to invest in new products and to support business growth.
Swiss digital lender Bob Finance selects Mambu for cloud banking platform
Bob Finance says it needed a platform “that meets internal and external partner standards”.
Al Kawthar Leasing Company opts for ICS Banks system
The ICS Banks Finance Leasing Solution is provided by regional banking tech vendor ICSFS.
French fintech Younited secures €60m in new funding
Younited says it will use the funding to develop its partnership activities and invest in its technology.
New UK bank Ashman live with Mambu’s core banking tech
Once fully launched, Ashman will serve SMEs in the UK’s commercial real estate sector.
FinTech Futures: Top five stories of the week – 9 December 2022
Here’s our pick of five of the top news stories from the world of finance and tech this week.
