lending
SoLo Funds CEO Travis Holoway: “Regulators seem driven by press releases when they should be motivated by true consumer protection and empowering equitable solutions.”
Featured Article
Fintech Fundid was shut down over interest rates and a strained cap table
To keep going, Fundid “needed to put up a lot more collateral because of the changing environment,” Stefanie Sample said.
Brazilian banking-as-a-service startup QI Tech has raised $200 million in a Series B round of funding led by New York-based General Atlantic. The raise is believed to be the largest…
In 2021, U.K. neobank Zopa, which has been around since 2004, leapt to a $1 billion valuation on the back of a big investment from SoftBank and a plan to…
Maple Finance, an on-chain, institutional credit marketplace that’s aspiring to fill a gap left behind by the collapses of crypto lending heavyweights like BlockFi and Celsius, has its sights set…
Apple removed several predatory lending apps from the App Store in India this week, days after users and media questioned the legitimacy of those services. Pocket Kash, White Kash, Golden…
Updated at 10.48AM IST, July 7: Flipkart confirmed on Friday that it has partnered with Axis Bank to offer lending to customers. “We are delighted to now introduce a Personal…
In 2018, Nelson Chu founded Percent with the goal of bringing investors, borrowers and underwriters together to modernize private credit. Seeing an opportunity to tackle the lack of risk management…
Open banking startup Abound nabs $601M to supercharge its AI-based consumer lending platform
After a slow start in the U.K. and Europe, open banking is catching on with fintechs, which are using APIs to access banking data and rails and using them as…
Chinese influence, loan-collection practices are reasons for India’s crackdown on lending firms
India’s push to ban over 90 lending apps has sent shock waves through the fintech industry as many scramble to understand why they have been impacted. The Ministry of Electronics…
After raising $300 million in a round led by SoftBank back in 2021, U.K. neobank Zopa has closed a deal to put more funding in its coffers. The company —…
Buy now, pay later is an alluring option for consumers. But with rising debt and inflation, perhaps the focus should be on companies that help protect borrowers from digging themselves…
Kredito created products with few requirements so that customers could more easily access financial products.
India plans to mandate which loan apps are allowed on app stores in the country, the latest in a series of recent steps from the world’s second largest internet market…
India’s central bank gives lenders November-end ultimatum to comply with new digital loan rules
The Reserve Bank of India (RBI) has given lenders until the end of November to implement adequate systems and processes to ensure that new and existing loans comply with its…
Featured Article
Clearco cuts international staff as it retracts presence, announces new partner
Clearco, a Toronto-based fintech capital provider for online companies, is walking back the international expansion it once touted as the future of the company. One month after cutting 25% of its total staff, Clearco is conducting another round of layoffs as it retracts its international presence in the U.K., Germany,…
Featured Article
Predatory loan apps in India rake in huge fees, and are driving some users to suicide
On a clear afternoon, Laxmi (name changed) was sitting in her office in Gujarat, India, when she received a message from her distant relative, saying that they received some of her “morphed” nude photos from multiple phone numbers on WhatsApp along with a text that reads, “loan thief.” “I was…
Clearco, a Toronto-based fintech capital provider for online companies, tells TechCrunch that it has laid off 125 people, or 25% of its entire staff. Those…
Ever since Celsius halted withdrawals last month, it seems like a new crypto project has been going under almost daily, with Peter Thiel’s Vauld and…
Constrafor provides a platform for general contractors to organize subcontractors on each project and also a lending program so subcontractors don’t have to wait months to get paid.
Investing app Robinhood is on a roll with announcing new features as it looks to appeal to more customers amid dwindling transaction revenue. Less than a week after unveiling plans…
Trading platform Robinhood is launching a feature that will allow its users to lend out their stocks in hopes of earning passive, recurring income from borrowers, the company announced today.…
Masa Finance, a hybrid credit protocol and decentralized credit bureau founded by Pngme CEO Brendan Playford in late 2020, has raised $3.5 million in pre-seed funding. According to a statement,…
The U.S. residential real estate market has been booming because of the pandemic. Although the rise in home prices has shut many people out of the market, it’s been highly…
The “gig economy” gave rise to a set of startups focused on meeting the needs of freelance and self-employed workers, from labor marketplaces Upwork and Fiverr to client management tools…
SME lender Funding Societies raises $144M led by SoftBank Vision Fund 2, plus $150M in debt lines
Small businesses are the backbone of Southeast Asia’s economy, but many struggle to secure working capital loans because they don’t have traditional credit records or collateral, say the founders of…
Crypto lending platform BlockFi will pay the U.S. Securities and Exchange Commission (SEC) $100 million in a settlement over claims that the company violated securities law through its interest account…
Financial institutions continue to search for ways to pile into the crypto market, and decentralized finance (DeFi) products are one mechanism that could help them capture share. Investors in DeFi…
The backbone of Indonesia’s economy are its estimated more than 60 million SMEs. But many lack access to working capital and, especially before the pandemic, managed their finances using manual…
Emerging markets fintech financier Lendable is targeting to raise a $100 million fund to invest in African and Asian fintech companies, the firm said in an emailed statement today. In…
