Growing insurance connections with bolt
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In an interview with The Financial Revolutionist, bolt CEO Jim Dwane details bolt’s growth strategy, highlights bolt’s value proposition, and shares his view on bolt’s future.
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Fintech News Stories
BNPL players might pivot from Gen Z to B2B
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BNPL startups like Billie, Mondu, Tranch, and Two are offering short-term credit to businesses facing cash-flow crunches. The short-term B2B loan industry is currently valued at $700B.
Read MoreWith supply-chain struggles, nearshoring demand booms
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Corporate bankers have reported greater interest among business clients to move their supply chains closer to where their consumers are located. Clients are interested in both “onshoring,” which involves returning previously offshored activities to the business’ home country, as well as “near-shoring,” which moves those activities to nearby countries.
Read MoreGoldman’s not at peak performance. What does that mean for fintechs?
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Reporting by the Financial Times suggests Goldman Sachs is lagging behind its main competitor, Morgan Stanley. Shares in Goldman trade at 1.1 times book value, compared to 1.7 times for Morgan Stanley.
Read MoreChance of Celsius collapse increases as crypto winter persists
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A new court filing suggests Celsius Network, the cryptocurrency lender that declared bankruptcy in July, only has enough money to sustain itself until October. At current crypto prices, Celsius holds $2.8B less in cryptocurrency than it owes clients.
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Affirm may struggle to meet its CEO’s expectations
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In an interview with the Wall Street Journal, Affirm CEO Max Levchin said that a recession will prove Affirm’s underwriting models to be superior to those of banks. Affirm's stock has dropped 77% since its all-time high in November 2021; the S&P 500 has declined 9% in the same time frame.
Read MoreIs Andreessen Horowitz becoming the next SoftBank?
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Venture-capital firm Andreessen Horowitz announced that it’s invested $350M in Flow, a rental-community startup. Flow is the latest venture by Adam Neumann, who previously founded and led WeWork.
Read MoreMercadoLibre doubles down on credit business
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In an interview with Bloomberg TV, MercadoLibre CFO Pedro Arnt said the company will continue to expand in the credit space. More than half of the Latin America-based e-commerce platform’s revenues now come from its fintech branch.
Read MoreThe mortgage layoffs are here.
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Firms of all sizes in the mortgage space have announced major layoffs since the Fed increased interest rates to fight inflation. Analysts predict a 35% to 50% decrease in mortgage origination in 2022.
Read MoreRevolutionizing the floor plan with CubiCasa
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In an interview with The Financial Revolutionist, CubiCasa President Jeff Allen outlines CubiCasa’s growth strategy, announces the company’s latest pricing features, and shares his vision for the future of floor plans.
Read MoreCould US regulators look to India for financial privacy rules?
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In a new report, the Consumer Financial Protection Bureau (CFPB) said consumers may be vulnerable to payment and lending apps that monetize users’ behavioral and spending data. The Bureau said it is planning to draft regulations to protect consumers’ financial data rights.
Read MoreWhat Big Tech’s stock surge means for smaller fintechs
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Since the beginning of July, Apple, Microsoft, Alphabet, Amazon, and Tesla have added $1.3T to their combined market value. This has helped the Nasdaq Composite rise by 14.8% over that same time period.
Read MoreHow inequality may worsen stagflation
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Although job growth accelerated in July, the Census Bureau reported that 12% of households were facing food insecurity, up from 10% at the beginning of 2022. The wealthiest 40% of households represent 60% of economic spending, while the poorest 40% represent 22% of spending.
Read MoreCan Wall Street resolve its showdown in West Virginia?
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In late July, West Virginia State Treasurer Riley Moore announced that BlackRock, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo were no longer eligible to receive state banking contracts because they “engaged in boycotts of fossil fuel companies” through their ESG policies. The measure does not ban the banks from operating in West Virginia.
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