fintech
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Yahoo Finance launches social savings app Tanda, an alternative to credit cards
Yahoo Finance today launched a new app called Tanda that allows small groups of either five or nine people to save money together for short-term goals. The app uses the concept of a “money pool” – that is, everyone participating in one Tanda’s collaborative savings circles will pay a fixed amount to the group’s savings pot every month. And every month, one member… Read More
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Revolut launches geolocation-powered travel insurance
Fintech startup Revolut is launching international medical and dental insurance. You can subscribe using the company’s app for £1 per day or more depending on the options. But the best part is that you can set it up and forget about it as Revolut uses your device’s location data to automatically turn insurance coverage on and off. By default, insurance coverage costs £1 per day… Read More
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Curve, the fintech that connects all your cards to a single card and app, gets full consumer launch
Curve, the London fintech startup that offers a platform that lets you consolidate all your bank cards into a single Curve card and app to make it easier to manage your spending, is finally launching to U.K. consumers. Up until now, the service remained in beta and was only officially available to business users. Read More
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TransferWise begins private launch of its consumer borderless account and bright green debit card
Money transfer company TransferWise has begun a private launch of its “Borderless account” for consumers. It marks the first time the European unicorn has offered a debit card, a move that is bound to draw further comparisons with newer fintech upstarts such as Revolut. Read More
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Financial technology startups emerged as serious challengers to financial services in 2017
While cryptocurrencies stole the spotlight in 2017, a clutch of companies were quietly working behind the scenes to slowly bring the financial services establishment to its knees. It may turn out that these startup entrants of the last several years will prove to be the more relevant disruptors. Read More
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Max Levchin’s Affirm raises $200 million at a nearly $2 billion valuation
Affirm, the platform that helps consumers find financing, is getting some financing of its own. The San Francisco-based company confirmed that it’s raising $200 million, led by GIC, a Singaporean sovereign wealth fund. Existing investors Khosla Ventures and Spark Capital are also participating. Affirm’s valuation is estimated to be between $1.5 billion and $2 billion. Read More
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Revolut now has a million customers for its banking alternative
Fintech startup Revolut has reached a big milestone. The company now has over a million customers across Europe two years and a half after launch. The company says that customers have saved $160 million in foreign exchange fees compared to a traditional bank account (£120 million). The startup tries to match the interbank rates as much as possible and charges 0.5 percent on your transaction… Read More
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DreamQuark beefs up financial services through artificial intelligence
Meet DreamQuark, a French startup that wants to help banks, insurance companies and asset management firms with all of their artificial intelligence needs. DreamQuark crunches your data, creates models based on machine learning and lets you apply those models on all past and future data points. Many banks still rely on COBOL code to compute all sorts of financial operations. COBOL is a… Read More
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N26 announces plans to launch in the US by mid-2018
European fintech startup N26 has plans to expand beyond Europe. The company’s co-founder and CEO Valentin Stalf is announcing today at the Money20/20 conference that N26 is going to launch in the U.S. around mid-2018 and has hired a handful of people who are already working in New York. Read More
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Spanish bank launches money-transfer app focused initially on US-Mexico remittances
BBVA, Spain’s second-largest bank that snatched up mobile banking startup Simple for $117 million back in 2014, is now entering the mobile money transfer business with today’s launch of a new app called Tuyyo. The app, which is available on both iOS and Android, is focused on the $73 billion annual market for remittances to Latin America and the Caribbean from the U.S. However,… Read More
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