FinTech
He turned down $1.2 billion from Stripe. Now his company is worth $8 billion
In 2018, Stripe offered to buy fintech company Airwallex for $1.2 billion. They said no. Seven years later, the company is worth $8 billion and serves over 200,000 customers globally. Jack Zhang, co-founder and CEO of Airwallex, helped build one of the world’s fastest-growing fintech companies, now valued at $8 billion and generating more than […]
Read More
PayPal shares sink 17% after forecasting weak 2026 earnings; HP’s Enrique Lores named new CEO
Enrique Lores, CEO of Hewlett-Packard speaks on CNBC outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025. Gerry Miller | CNBC PayPal issued a lackluster profit forecast for 2026 and reported fourth-quarter earnings below Wall Street expectations on Tuesday, while naming HP’s Enrique Lores as its president and CEO. Shares of the […]
Read More
Why Singapore is becoming a refuge for investors
An aerial view of Singapore’s skyline. Tong Thi Viet Phuong | Moment | Getty Images When KPMG executive Anton Ruddenklau moved to high-rise Singapore from the leafy streets of a London commuter town, one of the first things he noticed was how easy it was to do business in the Southeast Asian nation. “People are […]
Read More
He worked four blue-collar jobs in his teens to stay afloat. Today, his fintech startup is worth $8 billion
Jack Zhang is the co-founder and CEO of Airwallex. Courtesy of Jack Zhang The word “burnout” isn’t in the dictionary of Jack Zhang, co-founder and CEO of fintech company Airwallex. “I never understand that terminology to be honest. I’ve worked 100 hours a week from [the] age of 16 for 20 plus years,” Zhang told […]
Read More
Dust to data centers: The year AI tech giants, and billions in debt, began remaking the American landscape
The Stargate AI data center in Abilene, Texas, US, on Wednesday, Sept. 24, 2025. Kyle Grillot | Bloomberg | Getty Images West Texas dust, iron-tinged and orange-red, rides the wind and sticks like a film to everything you touch. It clings to skin and the inside of your mouth, a fine grit that turns every […]
Read More
Visa says new AI shopping tool has helped customers with hundreds of transactions
Mustafa Hatipoglu | Anadolu | Getty Images Visa said on Thursday that it successfully completed hundreds of AI transactions as part of a pilot program that kicked off after the company’s product event in April. The credit card issuer and rivals across the fintech industry are racing to build tools that allow consumers to task […]
Read More
Coinbase adds prediction markets and stock trading in push to be one-stop trading app
Brian Armstrong, chief executive officer of Coinbase Global Inc., speaks during the Messari Mainnet summit in New York, on Thursday, Sept. 21, 2023. Michael Nagle | Bloomberg | Getty Images Coinbase is making its biggest push yet to reposition itself as a mainstream trading and financial platform, moving beyond crypto and into the broader retail […]
Read More
PayPal applies to form bank that can offer small business loans and savings accounts
PayPal CEO Alex Chriss speaks at the Global Fintech Fest in Mumbai, India, on Oct. 7, 2025. Indranil Aditya | Nurphoto | Getty Images PayPal said Monday that it has applied for approval to form PayPal Bank, which would be able to offer loans to small businesses. “Establishing PayPal Bank will strengthen our business and […]
Read More
Esusu, platform for renters to build credit scores, valued at $1.2 billion in new funding round
Esusu, a fintech platform that helps renters build credit scores, has raised $50 million in a Series C funding round at a $1.2 billion valuation. Renters have remained largely excluded from the traditional credit system, with an estimated $1.4 trillion paid to landlords every year in the U.S., but only 20% of those landlords choosing […]
Read More
Fifth Third signs deal making fintech firm Brex the provider of its commercial cards
Key Points Fifth Third struck a deal with Brex to make the fintech firm the provider of its commercial cards and expense management tools for business clients. The program will run on Brex’s embedded payments platform and backed by AI tools. Fifth Third is in the process of acquiring Comerica, a deal expected to […]
Read More