Finance

  • Revolut Gets More Funding For Its Mobile Foreign Exchange Service

    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

  • Let’s Be Honest About The Problems With Blockchain And Finance Crunch Network

    Let’s Be Honest About The Problems With Blockchain And Finance

    Strange times we live in. The world’s biggest financial players and analysts are buzzing about an invention that became famous partly by promising to destroy them. In just a few months, blockchain went from the cause célèbre of crypto-anarchists and tech evangelists to the biggest idea in mainstream banking. Read More

  • HTC Cards $101M Loss In Q4 2015, Its Third Successive Quarter In The Red

    HTC Cards $101M Loss In Q4 2015, Its Third Successive Quarter In The Red

    HTC’s (financial) struggle is real. The Taiwanese tech firm endured another tough quarter of business after it posted a NT$3.4 billion ($101 million) net loss for the period. Total revenue came in at NT$25.7 billion ($766 million), which is up nearly 20 percent quarter-on-quarter but down a 46 percent year-on-year. Read More

  • Stellar Partners With Oradian To Bring Instant Money Transfer To Nigeria

    Stellar Partners With Oradian To Bring Instant Money Transfer To Nigeria

    Stellar, the Stripe-backed open-source payment network, has launched its first major integration in the form of a partnership with Oradian, a company that sells cloud-based software to micro finance institutions (MFIs) in developing countries. As a refresher, Stellar is a non-profit foundation with the goal of connecting different financial systems around the world. Started by the… Read More

  • Fintech Is Just Getting Started Crunch Network

    Fintech Is Just Getting Started

    In just the first week of trading in 2016, the S&P 500 lost 6 percentage points and more than one trillion dollars in market capitalization. With the worst start in more than a century, the markets seem to be predicting a slow period for the U.S. economy. One segment that I think has the potential to survive, if not thrive, in the expected volatility this year is financial technology. Read More

  • Will the Bubble Burst? Ask Your Cabbie Crunch Network

    Will the Bubble Burst? Ask Your Cabbie

    There are too many headlines and articles about bubbles, market crashes, negative interest rates and venture-backed unicorns. Why write one more? Because I believe there is a much more pragmatic way to evaluate what you are reading from all the “experts.” Experts armed with mountains of data and statistical analysis predict the stock market is going to crash, while at the same… Read More

  • The State Of P2P Lending Crunch Network

    The State Of P2P Lending

    P2P lending became one of the hottest industries in fintech — or any other any industry — in 2015. Companies raised large venture rounds, investors found unicorns and there were even a couple of IPOs. Will 2016 continue this trend, or will the P2P lending bubble finally pop? Read More

  • DraftKings And FanDuel Lose A Payment Processor

    DraftKings And FanDuel Lose A Payment Processor

    Update: Title changed to reflect that FanDuel does not use Vantiv for payouts, and offers additional deposit methods besides Vantiv processing.  Daily Fantasy Sports sites like DraftKings and FanDuel have been dealt another major blow today, but this time it didn’t come from an attorney general or federal court. Instead, it came from the company that is responsible for processing… Read More

  • Nigerian Fintech Company Interswitch Could Become Africa’s First Public Startup Unicorn Crunch Network

    Nigerian Fintech Company Interswitch Could Become Africa’s First Public Startup Unicorn

    Africa’s first billion-dollar tech IPO on a major exchange may be imminent. Read More

  • Venmo Opens Its Payment Service To Third-Party Apps

    Venmo Opens Its Payment Service To Third-Party Apps

    Venmo, the peer-to-peer payment service owned by PayPal, has now become a payment platform after it opened up to third-party apps and services. Read More

  • PayPal Shares Up 6% On Earnings; Revenue Rises 17%

    PayPal Shares Up 6% On Earnings; Revenue Rises 17%

    PayPal reported earnings after the bell Wednesday, and the stock quickly ticked up 6% in after hours trading. The payments company authorized a $2 billion stock repurchase program and reported revenue and earnings that exceeded the company’s full year guidance. PayPal’s fourth quarter adjusted revenue came in at $2.56 billion, up 17% year-over-year. Adjusted net income was… Read More

  • Facebook Climbs To 1.59 Billion Users And Crushes Q4 Estimates With $5.8B Revenue

    Facebook Climbs To 1.59 Billion Users And Crushes Q4 Estimates With $5.8B Revenue

    By courting users and ad dollars in the developing world, Facebook continued its growth streak. It hit 1.59 billion users today and crushed the street’s estimates in its Q4 2015 earnings with $5.841 billion in revenue and $0.79 earnings per share. That’s up from 1.55 billion users and $4.5 billion in revenue last quarter. Even with Q4 being the holidays, that 29.8% QoQ revenue… Read More

  • NextGenVest Uses Snapchat To Send Money Tips To Millennial Students

    NextGenVest Uses Snapchat To Send Money Tips To Millennial Students

    NextGenVest, a startup out of New York, is setting out to become a new kind of trustworthy financial entity. And to do that, it’s tackling a big problem. Every year in the US a staggering $2.9 billion goes unclaimed in students grants because the financial aid process has become tortuously complex. Furthermore, the ratio of guidance counselors to students is 500 to 1 nationally, with 20%… Read More

  • Spotify Is Raising Another $500M In Convertible Notes With Discounts On IPO Shares

    Spotify Is Raising Another $500M In Convertible Notes With Discounts On IPO Shares

    A week after streaming music company Deezer announced that it had raised another $109 million from existing investors, news has leaked out that its bigger rival Spotify is raising again, too. The Stockholm-based company whose music streaming service works in 58 countries is seeking to pick up an extra $500 million from investors in the form of convertible notes, according to a report in… Read More

  • Foreign Exchange Weighs On Apple’s Q1 Sales To The Tune Of $5B

    Foreign Exchange Weighs On Apple’s Q1 Sales To The Tune Of $5B

    Apple today reported another record set of results, beating expectations with an all-time high profit of $18.4 billion and revenues of $75.9 billion, with some $216 billion in cash now on its balance sheet. But it could have made even more were it not for the strength of the dollar compared to other currencies. The iPhone maker said that in constant currency, Q1 2016 revenue “would… Read More

  • VMware Confirms Layoffs In Earnings Statement As It Prepares For Dell Acquisition

    VMware Confirms Layoffs In Earnings Statement As It Prepares For Dell Acquisition

    VMware confirmed that it was laying off 800 employees today as part of its fourth quarter earnings statement. The layoffs had been originally reported by Fortune last week. The move appears to be part of the ongoing dance among EMC federated companies prior to the Dell acquisition expected to go through later this year. Dell announced it was buying EMC in October for $67 billion. EMC owns… Read More

  • A Year After IPO, Depressed Stock Price Not Bringing Box CEO Down

    A Year After IPO, Depressed Stock Price Not Bringing Box CEO Down

    It was just about a year ago that Box finally pulled the trigger and IPOed. It was a good day by all accounts, with an IPO price of $14 that promptly went up to $23 a share. Today that price sits below $10 a share, well below that $14 launch price and light years from that heady first day close. All that said, Box CEO Aaron Levie reports he has no regrets about going public and insists he… Read More

  • The Evolving Nature Of P2P Lending Marketplaces Crunch Network

    The Evolving Nature Of P2P Lending Marketplaces

    In March 2014, The Economist published Banking without banks, declaring that peer-to-peer (P2P) lending platforms were set to disrupt banks and other traditional sources of capital by directly connecting borrowers to individual lenders. In the past few years, the so-called P2P lending industry has certainly experienced tremendous growth, with origination volume doubling annually, reaching… Read More

  • LendUp Scores $150M For A Credit Card That Won’t Screw You Over

    LendUp Scores $150M For A Credit Card That Won’t Screw You Over

    Banks are so greedy that LendUp can undercut them, help people avoid debt, and still make a profit on its payday loans and credit card. Not only is software eating finance, but morality is too. LendUp’s slogan is “Ladders Not Chutes”. Building a business that doesn’t try to exploit everyone has not only brought it years of double-digit monthly growth. LendUp has now… Read More

  • From Barter To Bitcoin Crunch Network

    From Barter To Bitcoin

    The only security in this world is a reserve of knowledge, not money – so said the industrialist Henry Ford. Whether it’s the dollar, pound, rouble, rupee, euro or yuan, physical or digital, our entire world is built on currency exchange. But from barter, banknote to bitcoin, the means of exchange have evolved significantly. Read More

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