Real estate marketplace Opendoor is going public through a merger with Social Capital Hedosophia II, a special purpose acquisition company (SPAC) associated with investor Chamath Palihapitiya.
Read MoreGermany-based Monedo, a lending startup that was once valued at €230M ($273M), has filed for bankruptcy.
Read MorePayments company Square this month created a nonprofit called the Cryptocurrency Open Patent Alliance (COPA). Its goal is to promote open-source frameworks that encourage innovation.
Read MoreCitibank has named Jane Fraser to become CEO of the megabank. She will assume the role once current CEO Mike Corbat retires in February.
Read MoreParis-based insurtech Descartes Underwriting secured $18.5 in Series A funding to evolve its technology-based risk and underwriting tools.
Read MoreWealthsimple, a Canadian robo-adviser that also operates in the U.S. and the U.K., received conditional approval from Canadian Securities Administrators to test a cryptocurrency platform over a two-year period.
Read MoreLemonade filed its S-1 with the Securities and Exchange commission yesterday for an initial public offering.
Read MoreGoldman Sachs’ digital bank Marcus is on the cusp of rolling out new offerings, including a checking account and possibly an AI assistant, per a report from Business Insider.
Read MoreEmpower Retirement, a subsidiary of Canada-based financial company Great-West Lifeco, will acquire robo-adviser Personal Capital for $825M on closing and up to $175 million for planned growth.
Read MorePolicybazaar, an Indian digital insurance marketplace backed by Softbank, Tencent and Tiger Global Management, announced that it will go public next year at a $3.5 billion valuation. The size of the IPO will be about $500 million.
Read MoreAn Executive Order dated August 6 prohibits “any transaction that is related to WeChat by any person, or with respect to any property, subject to the jurisdiction of the United States.” It takes effect in 45 days of the Order, and includes digital payments through WeChat.
Read MoreAmerica’s reckoning on race relations is now impacting bank programming language. JPMorgan Chase is eliminating the terms ‘master,’ ‘slave,’ and ‘blacklist,’ from its technology policies, standards and control procedures, as well its programming code.
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.
