Finance

  • Kabbage nabs $500M for small business loans

    Kabbage nabs $500M for small business loans

    Kabbage, a billion-dollar startup that combines machine learning algorithms, data from public profiles on the internet and other factors to rate and then loan people money for their small businesses, is today announcing another big step up in its ambitions. The company has secured over $500 million in fixed-rate, asset-backed notes, money that it will use to expand the amount, payback… Read More

  • Snap has already tumbled 11% on day four

    Snap has already tumbled 11% on day four

    Snap, the parent of Snapchat, had a great first two days on the stock market, only to be followed by two terrible ones. Shares quickly tumbled to beneath $22, a more than 11 percent drop in morning trading. This means that most investors are already losing money on the social media company. Snap opened Thursday at $24 per share. It is still above its $17 IPO price, but that’s… Read More

  • Current wants to digitize your kid’s allowance with an app and a debit card

    Current wants to digitize your kid’s allowance with an app and a debit card

    Who carries around cash anymore? The answer? Parents, who still need to hand out allowance and pocket money to their kids. That’s where Current comes in. Current is the latest company out of Expa, and was built by Stuart Sopp. Sopp told TechCrunch that he built Current out of a personal need — he has a seven-year-old daughter who often wants to make purchases online but… Read More

  • Investment platform Motif launches value-driven automated investment service

    Investment platform Motif launches value-driven automated investment service

    The tech-enabled investment advisory space gains a new entrant this morning as Motif, a mobile and web-based investment platform, launches its own version of automated investments for customers. While companies like Betterment and Wealthfront have built sizable holdings by creating automated investment tools that purport to better manage an investor’s money, Motif takes the technology… Read More

  • Snap tumbles 12% on day three, erases gains

    Snap tumbles 12% on day three, erases gains

    Snapchat parent Snap Inc. debuted on the stock market Thursday and immediately saw substantial gains on its first two days. But the excitement has already worn off, with shares tumbling more than 12 percent on day three. After finishing Friday at $27.09 per share, Snap closed at $23.77 on Monday, beneath the $24 where it opened on its first day of trading. This is still above the $17… Read More

  • Atom Bank raises $102M at $320M valuation for a mobile-only bank for millennials

    Atom Bank raises $102M at $320M valuation for a mobile-only bank for millennials

    Atom Bank, a startup out of the U.K. that has built a mobile-only bank targeting consumers between the ages of 18 and 34, has raised another £83 million ($102 million) in funding led by BBVA, the Spanish bank and owner of Simple in the U.S. The funding gives Atom a post-money valuation of £261 million ($320 million), TechCrunch has confirmed with the company. BBVA also led… Read More

  • Algoriz lets you build trading algorithms with no coding required

    Algoriz lets you build trading algorithms with no coding required

    Traders who have an idea for a money-making algorithm have two choices: learn to code themselves, or hire a great engineer. But neither of these two options are realistic, especially for part-time traders who don’t have a large bankroll behind them. Meet Algoriz, a startup participating in Y Combinator’s Winter 2017 batch. Read More

  • Snapchat soars again on second day of trading

    Snapchat soars again on second day of trading

    Snap Inc., the parent of Snapchat, has been off to the races with its debut on the stock market. Yesterday, the stock closed at $24.48, a 44% gain from the IPO price of $17. And today it’s gone up a bit further, surpassing $29 at one point, an almost 20% increase from the close of yesterday. Shares later fell to $27, but it’s still on track for a 10% gain for day two. This… Read More

  • Did Snap leave money on the table?

    Did Snap leave money on the table?

    Snap priced its IPO at $17 per share on Wednesday, raising $3.4 billion. Then it opened Thursday at $24 per share and closed at $24.48. That’s a 44 percent gain for the select investors who bought into the IPO.  And that gain looks great… for new investors. But it also means that Snap could have sold its shares for a higher price! If Snap priced its shares just a little higher… Read More

  • Snap is already more valuable than these 9 companies

    Snap is already more valuable than these 9 companies

    Snap Inc., the parent company of Snapchat, had a stellar first day in its public debut on the New York Stock Exchange, popping 44 percent. The company’s market cap is being reported as $34 billion (fully diluted). Here are nine public companies that Snap is more valuable than on its first day as a publicly traded company. Read More