Finance
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Transforming how retail banking works
Mobile is changing how people work, travel, read, communicate, shop and many other lifestyle behaviors. In the Internet Trends 2015 report by KPCB, mobile engagement is better than ever, with three hours of time spent per day on mobile devices in 2015 compared to an hour per day five years ago (a 300 percent increase). Adding to this, there was 69 percent and 23 percent annual worldwide growth… Read More
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BBVA continues its fintech acquisition run, buys Holvi, an online-only business bank
Spanish banking giant BBVA has made another M&A play as it looks for a bigger role in the next generation of financial services: today the company has announced the acquisition of Holvi, an online-only bank for entrepreneurs and SMBs based out of Finland. (“Holvi” means “vault” in Finnish.) Terms of the deal have not been disclosed but we are trying to find out.… Read More
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What Lending Club’s falling share price means for the P2P lending sector
Lending Club, the largest P2P lending platform in the U.S., has seen its share price drop by more than 50 percent since December 10; the price per share on the NASDAQ Stock Market dropped from $14 to less than $7 (current price per share will vary). So what is the reason for such a precipitous decline in the share price of the world’s leading P2P lender, and what does it tell us about… Read More
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Number26 Now Uses TransferWise For International Transfers
Number26 is trying to reinvent your bank account. One by one, the company is looking at the traditional bank features and using more modern options to recreate a complete bank. Now, you can make international transfers in foreign currencies directly from the app. And the best part is that Number26 is using TransferWise to make you pay less fess. Read More
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Robinhood Ditches 3-Day Wait, Fronts New Users $1000 To Buy Stocks
The most annoying part of zero-fee stock trading app Robinhood was that when you signed up, there was a 3-day delay before money you deposited appeared in your account. Luckily, today the startup is solving this by embracing a slightly higher risk of fraud with the launch of Robinhood Instant. It lets users borrow up to $1000 to trade with while their deposit clears, and immediately trade with… Read More
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WorldRemit Gets $45M At A $500M Valuation To Grow Its Mobile Money Transfer Business
A year after raising $100 million, London-based startup WorldRemit has picked up more funding. To compete against the likes of Western Union in the world of money transfers — and tap a remittance market that the World Bank estimates will be worth $610 billion in 2016 — the company has added another $45 million to its coffers. This latest round, a debt round… Read More
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SolarCity Beats Q4 Estimates, But Stock Plunges 30 Percent On Soft Outlook
SolarCity, which is down more than 50 percent over the past year, just released its Q4 2015 earnings. The market has reacted negatively, with the stock trading down about 30 percent after-hours at a price of around $17.50 per-share. While Q4 revenue of $115M and loss of $2.37 per share beat estimates of $111M in revenue and a loss of $2.59 per share, the company’s Q1 2016 forecast… Read More
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Fox Marks Down Its DraftKings Investment By 60 Percent
Twenty-First Century Fox, which invested $160M in DraftKings over the summer, has written down the investment by about 60 percent, according to its 10-Q filed today. Specifically, Fox noted that “based on information concerning DraftKings’ current valuation in a recent financing transaction, the Company determined that a portion of its investment in DraftKings was impaired and… Read More
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LendEDU Is Making Student Loan Refinancing Easier
When 21-year-old college students Nate Matherson and Matt Lenhard started their first business for tutors, they didn’t really know that they would soon embark on a journey to help solve the $1.2 trillion student loan problem in the U.S. Launched out of their University of Delaware dorm room, their first business was designed to help college tutors. The two even made it into an… Read More
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Revolut Gets More Funding For Its Mobile Foreign Exchange Service
British startup Revolut just closed its seed round. After announcing having raised $2.3 million this Summer, the company has added a couple of new investors. In total, the company has raised $4.8 million (£3.2 million) from Index Ventures, Balderton Capital, Seedcamp and Point Nine, Venrex and business angels. Read More
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