FinTech
Klarna rival Zilch raises $125 million with aim to triple sales and accelerate path to IPO
Zilch CEO Phil Belamant. Zilch LONDON — British fintech firm Zilch said Wednesday it’s raised $125 million in debt financing from German banking giant Deutsche Bank in a deal that will help the company triple sales in the next couple of years and move closer toward an initial public offering. The company, which offers shoppers […]
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From $40 billion fraud to $4.5 billion settlement: Inside the latest crypto firm paying big bucks to end legal trouble
South Korean authorities are seeking the arrest of Do Kwon, co-founder and chief executive officer of Terraform Labs. His company is behind the now-collapsed terraUSD and luna cryptocurrencies. South Korean prosecutors are now seeking to freeze bitcoin linked to Kwon. Woohae Cho | Bloomberg | Getty Images Months before Sam Bankman-Fried and the FTX fraud […]
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This fintech configures expense cards to block misuse — and investors just backed it with millions
Miragec | Moment | Getty Images A startup that uses technology to stop employees from abusing corporate expenses just raised 8 million euros ($8.6 million) of funding from investors, defying a slump in investment for the financial technology industry. CleverCards, a Dublin-based firm, uses a digital platform linked to configurable expense cards to give companies […]
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Bitcoin miners at Donald Trump’s closed-door event say he thinks bitcoin can help win AI arms race
Former U.S. President Donald Trump speaks at a dinner at Mar-a-Lago on June 5, 2024 in West Palm Beach, Florida. Now that his criminal trial in New York has wrapped up, the former president has scheduled a number of fundraising events around the country to aid his presidential bid. (Photo by Eva Marie Uzcategui/Getty Images) […]
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Wise shares plunge 10% after fintech firm projects slower growth this year
The Wise logo displayed on a smartphone screen. Pavlo Gonchar | SOPA Images | LightRocket via Getty Images Shares of British money transfer company Wise dropped on Thursday after the company projected weaker annual revenue growth in the current fiscal year. The firm’s stock was down 9.8% at 1:30 p.m. London time, after falling as […]
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Revolut moves global HQ to heart of London’s financial district as it awaits UK bank license
A mockup of what Revolut’s new global HQ in Canary Wharf will look like. The firm said it plans to display its logo on two signs on the sides of the new building – mimicking legacy banks like Barclays and Citigroup. Revolut British financial technology firm Revolut announced Thursday that it’s planning to move its […]
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Fintech has hit a bottom after plunge in valuations and squeeze on funding, execs and VCs say
Long gone are the days when venture capital was flowing into fintech startups with bold ideas — and little to show in terms of business metrics and fundamentals. Bloomberg | Getty Images AMSTERDAM — The financial technology industry is embracing a new normal — with some industry executives and investors believing the sector has reached […]
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Robotics startup cofounded by Synapse CEO is raising funds with exaggerated promises about GM ties
Essential Points A humanoid robotics startup cofounded by the CEO of bankrupt fintech organization Synapse has canvassed Silicon Valley investors for cash by boasting shut ties and an imminent expenditure from Typical Motors — statements turned down by the automaker. The company, termed Foundation Robotics Labs, is seeking the final $1 million in money for […]
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Affirm get now, spend afterwards loans will be embedded into Apple Pay afterwards this 12 months
Crucial Factors Apple unit people will quickly be in a position to faucet into get now, pay out afterwards financial loans from Affirm for purchases, the companies said Tuesday. Affirm will floor as an possibility for Apple Fork out buyers on iPhones and iPads later on this 12 months. Resource
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Mastercard to section out guide card entry for online payments in Europe by 2030
Roberto Machado Noa/ LightRocket by way of Getty Illustrations or photos LONDON — The working experience of shelling out for items and expert services on-line could truly feel a ton distinct in the coming decades. Starting off from 2030, Mastercard will no more time demand Europeans to insert their card numbers manually when examining out […]
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