Banking

Truecaller makes first acquisition to build out payment and financial services in India

Sweden’s Truecaller started out life as a service that screens calls and messages to weed out spammers. In recent times the company has switched its focus to India, its largest market based on u

Nigeria’s Piggybank.ng raises $1.1M, announces group investment product

Seeking to tap into Africa’s informal savings groups the Nigerian investment startup Piggybank.ng closed $1.1M in seed funding and announced a new product -- Smart Target, which offers a more secu

UPDATE: WorkFusion adds to its $50 million with strategic investors as it bulks up for acquisitions

WorkFusion, a business process automation software developer, added two new investors to its $50 million April round. The company’s new strategic investors include the large insurance company, G

Ripple is going after startups to build an ecosystem around the XRP cryptocurrency

It’s finally happening. Ripple is making a push to expand the use of the XRP cryptocurrency into new verticals and segments beyond the payment and banking space where the company is focused. XR

Mobile money-saving app Qapital raises $30 million to spend on growth

Qapital, one of a slew of mobile applications trying to make it easier for users to save money (and spend it more wisely), has raised $30 million in fresh financing as it expands beyond savings to off

PayPal to roll out banking products for the ‘unbanked’ in the weeks ahead

PayPal is expanding into traditional banking through partnership with smaller banks to offer consumers debit cards connected to their PayPal accounts, along with direct deposit for paychecks and other

Polish bank begins using a blockchain-based document management system

A blockchain company called Coinfirm has announced a partnership with PKO BP, a major Polish bank, to provide blockchain-based document verification using a tool called Trudatum. The project is a an a

Amazon may launch a bank account aimed at teens, says report

Amazon has been in discussions with banks to create a product aimed at teens and other younger users who don’t have their own credit cards, or an interest in applying for one, according to a new

Square’s Cash app now supports direct deposits for your paycheck

It seems like each new feature Square adds to its Cash app brings it one step closer to being a de-facto bank account for its users. Case in point, the app just rolled out support for ACH direct depos

U.S. banks’ Venmo alternative, Zelle, moved $75B last year, says 100,000 people enroll daily

Zelle, U.S. banks’ answer to mobile payment services like PayPal and Venmo, claims that nearly 100,000 consumers, on average, are signing up for its service per day. The company also painted a p

Marijuana-friendly states ask Congress to make banking legal for the weed industry

Recreational marijuana might be having its moment, but that doesn't mean that all the kinks are worked out. Because of laws that still classify it as an illicit substance on the federal level, the ban

Betting consumers are tired of bad bank behavior, Aspiration raises $47 million for its alternative

A who's-who of celebrities, investors and celebrity investors have come together to invest $47 million into Aspiration, the company launched by a former speechwriter for President Bill Clinton to chal

Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe and Michael Moritz

Monzo, one of a number of “challenger” banks in the U.K. aiming to re-invent the current account, continues to be on a roll, both in terms of user numbers and now a significant new funding round.

Current raises $5M for its debit card for teens that parents control with an app

Current announced today it has raised $5 million in Series A funding for its debit card aimed at kids that parents can control with an app. The company first introduced its Visa debit to the market in

Jiko raises $7.7 million for debit card with cash back

A lot of startups have been raising money for credit cards and other financing businesses lately. Now Jiko has debit card technology that has convinced Upfront Ventures, Radical Impact, Social Capital

Over 5,000 Wells Fargo ATMs now support card-free access via Apple Pay and other mobile wallets

Wells Fargo’s ATMs are getting an upgrade. The bank announced today that more than 40 percent – or over 5,000 of its ATMs – will now allow customers to perform transactions without h

Chime raises $18 million for mobile banking without the fees

Chime is raising $18 million in Series B financing for its mobile-first approach to banking. It's a bank account and debit card built for the digital age. Without monthly fees or overdraft charges, Ch

10x, founded by the ex-CEO of Barclays, raises $46M to take on ancient banking infrastructure

The fintech revolution continues apace, and while many startups are hoping that newer and better tech will help them take business away from traditional banks, today a company has received a large rou

Zelle, the U.S. banks’ Venmo rival, will launch its mobile app next week

Zelle, the PayPal rival backed by more than 30 U.S. banks, is preparing to launch its standalone mobile app on Tuesday, September 12th. The move is meant to give the U.S. banking industry a foothold i

Square will apply for an industrial loan company license this week

There’s been a lot of questions about whether or not Square aspires to become a bank. Now that speculation can be laid to rest. Square will file an application to become an industrial loan company (
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