financial services

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

Baidu spins out its global ad business to sharpen its focus on artificial intelligence

Baidu, the Chinese search giant, is spinning out its business unit responsible for utility apps and its mobile ad business to sharpen its focus on artificial intelligence. As part of the spin-out, Bai

Jirnexu pulls in $11M for its financial comparison service in Southeast Asia

It’s been a busy week for startup funding in Southeast Asia. Following big deals for Carro and Carousell, financial comparison startup Jirnexu is the latest to announce new capital after it clos

BRD crowdraises $32 million to build financial services into a mobile crypto wallet

Crypto wallets can’t remain crypto wallets for long. There is so much competition and so many scammers that value-added features like financial services are de rigueur. BRD knows this quite well

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

African VC TLcom Capital invests $5M in Nigerian data analytics firm Terragon Group

Jake Bright Contributor Jake Bright is a writer and author in New York City. He is co-author of The Next Africa. More posts by this contributor Africa Roundup: Safaricom unveils Bonga, Africa’s Talk

Twitter moves to ban crypto ads

Twitter is the latest social service to boot out cryptocurrency advertisers. The company told Reuters it will be launching a new policy this week to prohibit the advertising of token sales/initial c

Hashgraph wants to give you the benefits of blockchain without the limitations

The spotlight on the distributed ledger space to-date is primarily focused on blockchain . Yet, blockchains come with limitations by design. Consensus mechanisms using proof of work (POW) are by their

S&P Global snares Kensho for $550 million

S&P Global announced today that it will acquire Kensho, a Cambridge, Massachusetts startup that has concentrated on artificial intelligence and analytics for big financial institutions. The total

FreedomPop moves into financial services, in partnership with Prudential

Ahead of a big fundraising to fuel its mobile ambitions, “free” mobile service startup FreedomPop is taking an unexpected strategic side-road to expand into a completely different area: fi

New credit card skimmer worked in plain sight at Aldi stores

Police in Lower Pottsgrove, Pennsylvania have spotted a group of thieves who are placing completely camouflaged skimmers on top of credit card terminals in Aldi stores. The skimmers, which the gang pl

Equifax launches its credit locking app and extends free credit freezes through June

Today was supposed to be the deadline for Equifax's free credit freeze offering, but the company has decided to extend the service to consumers for another five months. Now, Equifax customers can requ

Financial technology startups emerged as serious challengers to financial services in 2017

While cryptocurrencies stole the spotlight in 2017, a clutch of companies were quietly working behind the scenes to slowly bring the financial services establishment to its knees. It may turn out that

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

Ex-Uber data chief Kevin Novak joins LA-based startup Tala in big win for LA ecosystem

Kevin Novak, the architect of Uber's dynamic pricing technology and the head of its data team, has joined the Los Angeles-based financial services startup Tala as its new head of data.

Remitly is raising up to $115M led by Naspers’ PayU to double down on remittances

International remittances continues to be one of the biggest financial services in developing countries, with $450 billion getting sent from countries like the U.S. to emerging markets in 2017 alone,

MioTech gets $7M to build artificial intelligence based tools for wealth managers in Asia

MioTech, a financial tech startup with offices in Hong Kong and Shanghai, has raised $7 million in Series A funding to develop artificial intelligence based software for investment managers. The round

Are employers the latest financial services disruptors?

Much like healthcare years ago, financial wellness is evolving into an essential employee benefit. Valuable to both employers and employees, this trend offers ripe opportunity for innovation.

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 financia
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