financial services
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Cross River Bank gets unconventional validation with a $28M VC round
In a rare move, Battery Ventures, Andreessen Horowitz and Ribbit Capital, investors in a number of Silicon Valley’s fintech startups, have backed the bank enabling many of their investments to lurch forward. Cross River Bank, the obscure financial institution that seemingly everyone in fintech has heard of but doesn’t really know, originated more than $2.4 billion in loans for… 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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Alibaba Invests $194M Into China Business News To Build A Financial Data Platform
Alibaba, the Chinese internet giant, is currently focused on investing internationally to grow its business, but is also continuing to build out operations at home. In the latest move, it has invested $193.6 million (RMB1.2 billion) into China Business News to create a new financial data and information services company. “The era of Data Technology is here and it will surpass the… Read More
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Wall Street-Backed Symphony Wants To Revolutionize Financial Services Communication
The company’s backers include a who’s who of Wall Street financial companies: Bank of America Merrill Lynch, BNY Mellon, BlackRock, Citadel, Citi, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, Jefferies, JPMorgan, Maverick, Morgan Stanley, Nomura and Wells Fargo. Last fall, these companies contributed $66M to finance Symphony, and using that money, purchased Perzo, a… Read More
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