FinTech
SoftBank-backed fintech Zopa aims to double profit this year as it eyes 2025 current account launch
Jaidev Janardana, CEO of U.K. digital bank Zopa. Zopa LISBON, Portugal — British online lender Zopa is on track to double profits and increase annual revenue by more than a third this year amid bumper demand for its banking services, the company’s CEO told CNBC. Zopa posted revenues of £222 million ($281.7 million) in 2023 and […]
Read More
A Singaporean AI startup is trying to disrupt the 100-year-old market research industry
Artificial intelligence is aiming to disrupt a 100-year-old industry. Finding ways to attract consumers to buy packaged goods stretches back to the 1920s when American psychologist Daniel Starch created the world’s first market research study. Today, the global market research industry is worth an estimated $87.7 billion and is expected to grow by another $15 […]
Read More
Buy now, pay later provider Klarna says it filed confidentially for U.S. IPO
Buy now, pay later firms like Klarna and Block’s Afterpay could be about to face tougher rules in the U.K. Nikolas Kokovlis | Nurphoto | Getty Images Klarna, which is known for its popular buy now, pay later business, announced Wednesday that it’s confidentially filed IPO documents with the SEC. The Swedish payments company has […]
Read More
Silicon Valley’s General Catalyst makes first investment into Saudi Arabia through fintech Lean Technologies
Silicon Valley venture capital firm General Catalyst has made its first investment in Saudi Arabia through fintech startup Lean Technologies, which just closed a Series B round worth $67.5 million. General Catalyst has $30 billion in assets under management and has backed major U.S. tech companies like Snap, Stripe and AirBnb. Lean Technologies’ fundraising round also […]
Read More
Over $2.8 billion bet on bitcoin topping $90,000 as it hits all-time high
Jakub Porzycki | Nurphoto | Getty Images Bitcoin reached a fresh all-time high near $81,000 and futures premiums soared, in a clear sign that investors believe the record-run in the world’s largest cryptocurrency is poised for even more gains on the back of U.S. elections that saw a swell of pro-crypto candidates win office. Open […]
Read More
Fintechs Upstart and Toast soar on earnings
Chris Comparato, CEO, the Toast, Inc. IPO at the New York Stock Exchange, on September 22, 2021. Source: NYSE Upstart, which uses artificial intelligence to inform online lending decisions, soared 46% on Friday, its best day in over three years. Toast, which sells payments technology to restaurants, jumped 14%, closing at its highest since 2021. […]
Read More
Jack Dorsey dramatically scales back crypto ambitions for Block
Jack Dorsey, co-founder of Twitter Inc., speaks during the Bitcoin 2021 conference in Miami, Florida, U.S., on Friday, June 4, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images During the crypto-crazed summer of 2021, when memecoins like dogecoin and Shiba Inu were rocketing alongside bitcoin and ethereum, Square founder Jack Dorsey announced that his […]
Read More
Bitcoin’s on track to hit $100,000 after Trump’s election victory, analysts say
Bitcoin is on track to hit the $100,000 price milestone by the end of the year after President-elect Donald Trump’s election victory, according to analysts. James Butterfill, head of research at CoinShares, said a price rise to $100,000 — which would imply 33% upside — “is possible now,” as Trump’s presidential win and the Republicans’ new majority […]
Read More
Block reports revenue miss but a slight beat on earnings
Block reported third-quarter revenue on Thursday that trailed Wall Street expectations. The stock initially sold off after hours but erased most of its losses as investors focused more on profitability metrics. Here is how the company did, compared to analysts’ consensus estimates from LSEG. Earnings per share: 88 cents adjusted vs. 87 cents expected Revenue: […]
Read More
Affirm beats on top and bottom lines
Affirm, the provider of buy now, pay later loans reported better-than-expected fiscal first-quarter results. Here’s how the company did, compared to analysts’ consensus estimates from LSEG. Loss per share: 31 cents adjusted vs. a loss of 35 cents expected Revenue: $698 million vs. $664 million expected Affirm reported gross merchandise volume (GMV) of $7.6 billion, topping the […]
Read More