Bank partnerships take many forms and there many examples today of win-win relationships between banks and fintechs. Earlier this...
Business insider opened an account with Marcus to better understand the product; they report on why other financial institutions should...
Branch CEO Matt Flannery is not new in the micro-lending lending space having previously co-founded Kiva; Flannery realized that there was much more potential in lending across the globe outside of the non-profit space; Branch has an app that uses information from the phone to score credit in places like Nigeria and Kenya; the Series B round was led by Trinity Ventures and included other big names such as Andreessen Horowitz and CreditEase Fintech investment fund; the company also secured a $50 million debt facility from Victory Park Capital. Source
Affirm announced they are partnering with merchants to make financing available in-store; Affirm InStore works similar to their online point of sale solution where customers can pay for purchases over time with fixed installments; the company also announced that consumers will be able to add a newly issued Affirm virtual card via Apple Pay. Source
Square’s stock is up over 200% in the past year; the run up occurred prior to news that the Square Cash app would allow users to buy and sell bitcoin; Square Cash had more than 7 million active users in December of last year; according to the Quartz article, the growth has also been fueled by recent bank partnerships; other successful lines of business include Square Capital which lent out $305 million to small businesses in the fourth quarter of 2017. Source
Today a new report was released on how online lenders are helping small businesses which in turn is creating economic...
The new lender called Nexo will launch Monday and recently raised $50 million; the team behind the firm run a...
Kabbage's study shows the increased usage of mobile devices for loan applications. Source
The Co-founder and Head of Business Development at SALT Lending introduces us to the world of asset-backed cryptocurrency lending. Source
Yesterday Forbes released their Fintech 50 list; since lending was one of the early segments in fintech, the companies on the list are some of the most mature businesses; Forbes shares more details on those with traction including Affirm, Better Mortgage, Blend, CommonBond, GreenSky, Kabbage, LendingHome, Tala, and Upstart. Source