credit

  • Chilean startup ComparaOnline raises $14 million for its financial education tools for Latin America

    Chilean startup ComparaOnline raises $14 million for its financial education tools for Latin America

    Venture investing in Latin America continues to pick up the pace, with new deals in financial technology services leading the way. One example of investors’ renewed interest in regional financial services companies is the $14 million in financing that ComparaOnline just wrapped up. The company, now backed by private equity firm Bamboo Capital Partners and the International Finance Corp. Read More

  • Equifax data breach help site leaves consumers with more questions than answers

    Equifax data breach help site leaves consumers with more questions than answers

    Equifax just announced a massive data breach that could affect 143 million consumers. It’s shaping up to be one of the largest hacks of all time. The information came mostly from U.S. residents, but a percentage also involved U.K. and Canadian citizens and the company is working with authorities from these countries. Read More

  • Looking to sell utility billing data to lenders, Urjanet rakes in $20 million

    Looking to sell utility billing data to lenders, Urjanet rakes in $20 million

    With a pitch to provide utility payment data to lending companies, Atlanta-based Urjanet has managed to raise $20 million in new financing. Lenders are hungry for new ways to loan money to consumers but are struggling to pick up borrowers among debt-wary millennials who remember the pain of the 2008 financial crisis and are unwilling to take the perceived risk of lending to potential… Read More

  • Nova Credit launching from Y Combinator to give immigrants access to U.S. credit

    Nova Credit launching from Y Combinator to give immigrants access to U.S. credit

    Access to credit and establishing a credit history aren’t a luxury for people living in the US, they’re a necessity. A credit score is required to rent most apartments, get credit cards, and essentially make a way in the modern American world But for millions of immigrants (roughly 15 million) landing on U.S. shores — even ones who had successful jobs abroad —… Read More

  • Google to restrict ads for payday loans

    Google to restrict ads for payday loans

    Google announced today that it will no longer allow payday lenders to advertise on its systems because the loans often come with high interest rates and quick repayment requirements that push borrowers into debt. Payday lenders offer quick cash to low-income people, who are then required to pay back their loans within a short time frame. If they don’t, they face exorbitant interest rates… Read More

  • PayPal Credit expands to the UK with an interest-free option for purchases over £150

    PayPal Credit expands to the UK with an interest-free option for purchases over £150

    After separating from eBay, PayPal has been on a march to grow both its international business and transactions beyond basic e-commerce. Today it is taking a step to do both, with the U.K. launch of PayPal Credit — a service that lets consumers use their PayPal accounts to spread out online payments for goods as a replacement for traditional credit cards. It will give consumers… Read More

  • With $4.3 Million PayJoy Is Ensuring Smartphones Land In The Hands Of The Next 2 Billion

    With $4.3 Million PayJoy Is Ensuring Smartphones Land In The Hands Of The Next 2 Billion

    With Project Loon and Internet.org Companies like Google and Facebook are spending hundreds of millions of dollars each to ensure that everyone on the planet has access to the internet, but with a modest $4.3 million in equity and debt the new startup PayJoy is solving an equally important problem — getting actual smartphones into those people’s hands. Co-founded by Mark Heynen… Read More

  • J.P. Morgan, OnDeck And The Future of Alternative Lending Crunch Network

    J.P. Morgan, OnDeck And The Future of Alternative Lending

    Earlier this month, J.P. Morgan announced a strategic partnership with OnDeck Capital to originate, underwrite, and distribute loans targeted specifically at small businesses. As evidenced by a 28% single-day spike in OnDeck’s share price, this announcement clearly is a big deal to one of the leading FinTech companies today, and has major implications for the future of alternative lending. Read More

  • Leveraging Technology To Make Credit Credible Crunch Network

    Leveraging Technology To Make Credit Credible

    The small-dollar credit (SDC) market — think payday and auto-title lending — is ripe for innovation and disruption. Most of the $44 billion industry consists of high-cost, low-quality products that lead people into cycles of repeat usage and mounting debt. Regulatory burdens, reputational risk and the tough economics of making small loans profitable have limited the supply of… Read More