Regulators close First Republic Bank, JPMorgan named as the buyer of $330B assets and deposits, FDIC on the hook for $13B
First Republic Bank (FRB), on the brink of collapse in the weeks after the Silicon Valley Bank crisis, has finally fallen over, but with a relatively quick resolution into its next chapter: Today the
SEC charges founder of financial aid startup Frank with defrauding JPMorgan
The U.S. Securities and Exchange Commission has charged Charlie Javice, the founder of student financial aid startup Frank, with fraud in connection with the $175 million sale of the company to JPMorg
Twitter denies Musk’s countersuit claims with a lot of snark
Twitter has filed a legal response denying Elon Musk’s counterclaims about the company he’s supposed to acquire — a deal he’s trying to exit by claiming Twitter fraudulently mi
L’Attitude Ventures closes on $100M fund to back Latino founders of early-stage startups
Latino founders of early-stage companies based in the U.S. just got a new potential source of capital. L’Attitude Ventures announced today that it has closed on its first institutional fund, raising
Orum raises $56M to help speed up interbank transfers
Orum, which aims to speed up the amount of time it takes to transfer money between banks, announced today it has raised $56 million in a Series B round of funding. Accel and Canapi Ventures co-led the
Big banks rush to back Greenwood, Killer Mike’s Atlanta-based digital bank for underrepresented customers
Before even taking its first deposit, Greenwood, the digital banking service targeting Black and Latino individuals and business owners, has raised $40 million — only a few months after its lau
PPRO extends latest round to $270M, adding JPMorgan and Eldridge to grow its localized payments platform
In January, localized payments provider PPRO became the latest fintech-as-a-service startup to hit a billion-dollar valuation when it closed $180 million in funding. As a mark of how payments and e-co
The Amazon-Berkshire Hathaway-JPMorgan healthcare joint venture is officially ending
A somewhat nebulous, but high-profile and potentially heavily moneyed joint venture is coming to an end: Haven, the JV created by Amazon, Berkshire Hathaway and JPMorgan Chase, is being “disband
Pre-seed fintech firm Financial Venture Studio closes on debut fund to build on legacy of top investments
Fintech has come into its own the past few years. Once an area of investment widely derided and avoided by VCs due to its regulated nature and entrenched incumbents, fintech has now emerged as one of
Honeywell says it will soon launch the world’s most powerful quantum computer
“The best-kept secret in quantum computing.” That’s what Cambridge Quantum Computing (CQC) CEO Ilyas Khan called Honeywell‘s efforts in building the world’s most powerful
Report: WeWork expected to cut 500 tech roles
After postponing its IPO, WeWork is making big cuts.
Readying an IPO, Postmates secures $225M led by private equity firm GPI Capital
Postmates is expected to unveil its IPO prospectus this month.
Sources: J.P. Morgan working on a secretive digital banking project based out of London
A number of incumbent banks are known to be developing new digital-first products in a bid to keep the new wave of challenger banks at bay and now it appears that the latest to make that move is J.P.
Movius raises $45M for its business communications service
Atlanta-based Movius, a company that allows companies to assign a separate business number for voice calls and texting to any phone, today announced that it has raised a $45 million Series D round led
Lyft unveils its S-1 and nearly $1B in 2018 losses
According to the filing, Lyft recorded $2.2 billion in 2018 revenue on a net loss of $911 million.
Report: Lyft picks JPMorgan to lead IPO in 2019
Lyft and Uber’s race to an IPO is heating up. Lyft has selected JPMorgan Chase & Co. as the lead underwriter of its initial public offering, along with Credit Suisse Group and Jefferies Grou
Jeffrey Katzenberg and Meg Whitman announce the name of their stealthy mobile video startup
Called Quibi, short for quick bites, the company is creating content with notable filmmakers Sam Raimi, Guillermo del Toro and Antoine Fuqua.
Atul Gawande, the doctor and writer, named CEO of Amazon’s employee healthcare JV
Amazon, BerkshireHathaway and JPMorgan Chase have not been especially public about their plans for how they plan to take on employee healthcare in the US with their new joint venture, but now they hav
CVS, other health stocks down upon Amazon, JPMorgan, Berkshire healthcare co news
Investors panicked this morning upon the news Amazon, JPMorgan Chase and Berkshire Hathaway were teaming up to launch a health insurance company for their U.S. employees. Healthcare is one of the bigg
Amazon’s new healthcare company could give smaller healthtech players a boost
JPMorgan Chase and Berkshire Hathaway have joined forces with Amazon to form a new healthcare company for all U.S. employees. Details are sparse; there's not even a name associated with the new compan