First Citizens has agreed to buy Silicon Valley Bank, the California lender whose collapse sent shockwaves through the financial sector.
A lot has happened with SVB, and unless it’s your job to edit the news, it’s possible you missed a slice of the saga, if not the entire story. Here’s what went down.
An auction for the remaining assets of the failed Silicon Valley Bank is reportedly underway, with final bids due this afternoon and a result potentially arriving late Sunday, according to Bloomberg.
Yesterday at around noon in Los Angeles, investor Mark Suster of the venture firm Upfront Ventures began urging “calm” on Twitter. Silicon Valley Bank had bungled its messaging on Wednesda
With more VC funds wanting to see where every dollar is spent, it is essential CEOs understand how to accurately track and report monthly expenses and revenue.
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 to allow users to l
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Tribevest founder Travis Smith went on a fishing trip with his brothers in 2008 that he says they couldn’t afford. It was then that he realized their “good jobs with 401(k)s” would never be enou
Novo, the startup building a new kind of banking service from the ground up for small and medium businesses, has closed a significant round of funding to take the next step in growing its platform. It
The late Harvard Business School professor Clayton Christensen found that in many sectors, low-end disruptors take hold at the bottom of the market and then work up to satisfy more demanding segments.
With the finance world now leveraging tech to conduct business, financial services regulators are also developing new tech to monitor markets, supervise institutions and for administration.
Lower, an Ohio-based home finance platform, announced today it has raised $100 million in a Series A funding round led by Accel. This round is notable for a number of reasons. First off, it’s a larg
Synctera, which aims to serve as a matchmaker for community banks and fintechs, has raised $33 million in a Series A round of funding led by Fin VC. The raise comes just under six months after the fin
SoFi, more formally known as Social Finance, announced today that it has agreed to acquire Golden Pacific Bancorp (GPB) for about $22.3 million. The dollar amount is not staggering. What is more notab
Known for its innovations in the payments sector, Square officially now has a bank. Nearly one year after receiving conditional approval, Square said Monday afternoon that its industrial bank, Square
Founder Mike Cagney is always pushing the envelope, and investors love him for it. Not long after sexual harassment allegations prompted him to leave SoFi, the personal finance company that he co-foun
Step, a mobile banking service aimed at teens, announced this morning it has raised $50 million in Series B funding after growing to over 500,000 users only two months after its official launch. The r
Betterment, the New York-based automated advisory service for wealth management, is adding FDIC-insured checking and savings account services through partnerships with several banks. “It’s the
Let's focus on preserving jobs and providing relief to our economy’s beating heart — small businesses.
Payments and lending spring to mind as “classic” fintechs, but other models like regtech, compliance, human resources and marketing are on the ascent.