Dallas-based digital life insurance provider Bestow will acquire Centurion Life Insurance Company, an Iowa-based insurer with licensing in 47 states and the District of Columbia. Terms of the deal were not disclosed.
Read MoreStep, a banking platform for teens, raised $50M in Series B financing led by Coatue, with participation from a range of known venture capital firms that are returning investors, alongside fintech executives from Visa, Venmo, Square, and Facebook. Celebrity investors include Dreamers VC (led by Will Smith), Tiktok star Charli D’Amelio, Justin Timberlake, The Chainsmokers, Eli Manning, and others.
Read MoreLibra, the Facebook-backed digital currency, is now called Diem, the latin word for “day”. The Libra Association, the Switzerland-based international body that oversees the currency, will now be called the Diem Association.
Read MoreCurrent, a New York-based digital banking startup, has picked up $131M in Series C funding, following a year of “exponential growth” for the company.
Read MoreThe J.D. Power 2020 U.S. Wealth Management Mobile App Satisfaction Study reports that while customers use wealth management apps more the pandemic, client satisfaction lags behind other consumer financial institutions such as credit card companies, retail banks and insurance companies.
Read MoreAffirm, an 8-year-old ‘buy now, pay later’ firm founded by PayPal co-founder Max Levchin, filed to go public amid doubling year-over-year revenue in the third quarter and narrowing losses.
Read MoreFinancial Planning first reported that 6-year-old wealth management software firm Oranj is shutting down by the end of the year.
Read MoreDaylight is a mobile-first digital banking platform launched to support LGBT+ people as they navigate their financial challenges.
Read MoreA revamped Google Pay app rolling out this week will include bank accounts, peer-to-peer payments, and personal finance features.
Read MoreThe Department of Justice (DOJ) has cleared the way for Mastercard to acquire data aggregator Finicity, in a deal valued at $825 million.
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.
