Lili, a U.S.-based mobile banking app specifically for freelancers, announced on Wednesday it secured 10 million through its seed funding round, which was led by Group 11 with participation from Foundation Capital, AltaIR Capital, Primary Venture Partners, and Torch Capital. Founded in 2018, Lili reported… Read More The post U.S. Banking App For Freelancers Lili … Read more
The latest investment round is the second in less than a month for Stenn. The company closed a new $200 million programme on May 11 from Crayhill, a New York-based private credit manager and asset-based lender, in order to expand its digital trade finance services and further support companies in boosting their international trade flows. With this added capacity, Stenn … Read more
The San Francisco-based company closed a $241 million Series D round, co-led by new investor Gallatin Point Capital and existing investor TGP’s The Rise Fund, U2 lead singer Bono, and Jeff Skoll, a global entrepreneur and movie producer. Other new investors joining the round include HarbourVest Partners and Progressive Insurance. Varo last raised money in 2019, a $100 million Series C. In all, the … Read more
Muniy, a UK-based neobanking startup, is now seeking to raise a minimum of £200,000 through its equity crowdfunding campaign on Crowdcube. The company is now offering 6.90% in equity at a £2.7 million pre-money valuation. Founded in 2018, Muniy describes itself as “banking for everyone.” The startup currently offers freemium and paid accounts with core … Read more
Initially viewed with suspicion by banks, the use of Open APIs to share account data with third party providers is proving to be a positive driver of innovation. Thirty of percent of the banks surveyed by Finastra believe Open Banking is already making a tangible impact in delivering improved overall customer experience. The research, which … Read more
BeQuant, a UK-based retail and institutional multi-exchange trading platform, announced on Monday it has formed a partnership with cryptocurrency platform to launch its prime brokerage platform. Founded in 2007, BeQuant reported that its products include prime brokerage, custody, fund administration enhanced by an institutional trading platform providing low-latency, liquidity, and direct market access. “The BEQUANT … Read more
Aion, a Belgian subscription-only challenger bank, has launched its digital banking app for small and medium-sized enterprises (SMEs). The firm’s Basic Plan stands at €9 a month with limited capabilities, with the Premium Plan at €39 a month. The latter gives users unlimited access to BusinessMax, a tool kit powered by artificial intelligence (AI) and … Read more
China Merchants Port, the largest port operator in the country, has teamed up with e-commerce giant, Alibaba Group (NYSE:BABA), and its Fintech-focused subsidiary, Ant Financial. Through the partnership, the companies will work towards developing a blockchain or distributed ledger technology (DLT)-enabled platform, which will aim to address several use cases. The DLT-based platform will allow … Read more
[Editor’s note: This is a guest post from Miron Lulic. He is the founder and CEO at SuperMoney, a leading financial services comparison platform. Millions of people trust SuperMoney to shop for financial products and transparently compare their options in real time. Follow Miron Lulic on Twitter.] There is little doubt rapid innovation is occurring … Read more
SATYA MicroCapital Ltd, a fast-growing micro-lending firm based in India, has secured INR 105 crore (appr. $13.85 million) in equity funding from Gojo & Company, Inc. This is reportedly one of the first investments in the nation’s microfinance sector after the COVID-19 outbreak, and government-enforced… Read More The post Indian Microlending Firm SATYA MicroCapital Ltd … Read more