Indian gov-owned LIC eyes IPO
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India’s state-run Life Insurance Corporation (LIC) announced yesterday that it would sell 5% of its shares to raise $8B. If approved, it would be the largest IPO in the country’s history.
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Fintech News Stories
Is BNPL facing a reckoning?
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Regulators in the U.S. and U.K. have voiced greater interest in reigning in BNPL providers. Consumer rights groups warn that consumers do not realize that they’re assuming debt through these services.
Read MoreWhat is crypto’s media strategy?
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Forbes announced this morning that Binance is buying a $200M stake in the publication. Binance previously sued Forbes for defamation, and then voluntarily dropped the suit.
Read MoreFacebook Messenger debuts ‘split payments’ feature
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Launched yesterday, the feature lets users split bills evenly or in customized amounts through Facebook Pay. Facebook had publicly tested the feature for two months.
Read MoreTennessee debates state gov investment in NFTs and crypto
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State representative Jason Powell introduced a bill to Tennessee’s state legislature that, if passed, would allow the state to invest in crypto and NFTs. It would do so by amending the state government’s list of “permissible investments.”
Read MoreMassachusetts eyes fintech incubation—and, hopefully, a bigger boom
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Through public-private partnerships, conferences, and communities, the state has encouraged cross-pollination between academic institutions, investor communities, regulators, and regional talent pools. Last year, Massachusetts saw a record-breaking $3.1B raised in fintech venture funding.
Read MoreAmEx debuts all-digital checking account
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Launched yesterday, the checking account and its debit card offer rewards, round-the-clock support, and purchase protection. It’s the company’s first checking account for consumers.
Read MoreAfrican fintechs smashed fundraising records in 2021
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African startups raised between $4.3B and $5.2B in 2021. Between 53% and 62% of that funding went to fintech.
Read MoreWirex brings crypto-linked Visa cards to U.S.
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The London-based crypto payments platform has officially launched in the U.S. Wirex was the first to let customers make payments through prepaid Visa debit cards that are linked to crypto wallets.
Read More“Climate fintech” needs to decide what it is
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Climate fintech funding rose to $1.2B in 2021, according to CommerzVentures. Carbon accounting attracted the most funding, raking in $410M last year.
Read MoreBored Ape flirts with a16z
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Startup Yuga Labs, which minted the Bored Ape Yacht Club series of NFTs, is in financing talks with Andreessen Horowitz at a valuation between $4B and $5B. If it goes through, the deal would be the first institutional investment into the company.
Read MoreFollowing PayPal, Meta shares tumble 26%
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Meta, the company formerly known as Facebook, reported disappointing fourth-quarter earnings as well as its first-ever decline in users. The company’s market capitalization tanked—sliding from $898.5B to $668.4B.
Read MoreFinTech is on Fire. Karma Isn’t the Only Reason to Lend Out Financial Data - 5 Reasons Why It’s Good for Business
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As much as early-stage fintech startups benefit from free, early access to data, data providers and financial institutions can benefit from offering it. It’s a symbiotic relationship that helps each party and ultimately advances the entire financial services industry in the process.
Read MoreFacing scams and turbulent market, PayPal shares dip 25%
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The payments giant announced that it had closed 4.5 million “bad actor” accounts that had taken advantage of PayPal rewards programs. In addition, its payments volume only rose 23% in Q4, the smallest increase in two years.
Read MoreCan Monzo succeed in the U.S.?
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The U.K. digital bank officially launched its full-fledged product in the U.S. on Tuesday. Users can apply online for an account within 10 minutes, the company said.
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