Lemonade is betting on the strong bonds forged between humans and pets during the pandemic. It’s launching dog and cat health plans that start at $12 per month, and to sweeten the offer, it will donate leftover premiums to animal-focused charities.
Read MoreIn its first-ever earnings report, insurtech firm Lemonade reported a $21M net loss in the second quarter of 2020.
Read MoreDiscount brokerage Robinhood raised $320 million as part of its Series F round, bringing its valuation to $8.6 billion. The company in May raised $280 million as part of the same round, signaling investor confidence in its growth and IPO prospects.
Read MoreBanking core technology provider FIS this week unveiled a flat-fee, month-to-month subscription model for community banks and credit unions called ClearEdge.
Read MoreAs the Trump administration eyes a TikTok ban amid security concerns, U.K. fintechs see it as a customer acquisition channel, pulling in quarantine-weary TikTok users who may be open to changing their money habits.
Read MoreHow LoanStreet helped credit unions thrive during the pandemic
Read MoreAyco, a Goldman Sachs-owned financial company serving employers, expanded its product marketplace for employees this week, encompassing annuities, investment accounting, and tax services.
Read MoreFresh off reports the top 10 PPP bank lenders will gain more $3.8 billion in fee revenue from the program, Wells committed to put $400 million it earned in PPP processing fees toward small business recovery efforts.
Read MoreThe CFPB this week released a final payday lending rule, which rescinds a 2017 regulation under Obama-appointed CFPB Director Richard Cordray that required payday lenders to assess borrowers’ ability to repay.
Read MoreOn Tuesday, mortgage lender Quicken Loans filed paperwork to go public under parent company Rocket Companies (RKT). In its filing, the company listed the size of its offering as $100 million, a placeholder amount that will likely change.
Read MoreA bipartisan Senate bill put forward by Sens. Bob Menendez, D-N.J., and Kevin Cramer, R-N.D. would prohibit retailers from turning away cash payments from customers.
Read MoreAnother credit-focused startup that has been crossing over into digital banking is Upgrade.
Read MoreA settlement with the SEC marks the end of encrypted messaging app Telegram’s “Gram” digital currency project, which the company said last year would operate on a decentralized framework reminiscent of bitcoin. As part of the settlement, Telegram and subsidiary TON Issuer this week agreed to pay a $18.5M civil penalty and return around $1.2B to investors.
Read MoreKlar - the challenger you might not know...yet
Read MoreCedar, a patient engagement and payments technology platform, has raised $102 million Series C, including $25 million of debt, to improve the patient experience and boost engagement.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
