In his LendIt Fintech USA 2019 keynote, CEO and Co-founder of Affirm, Max Levchin, had some harsh words to say...
Money is edging toward its biggest reinvention in centuries. Modern technology and even the coronavirus pandemic are pushing consumers to go cashless, and with alternative concepts like Bitcoin taking hold, central banks are acting quickly to ensure they don’t fall behind. Their promise is a payment system that is safer, more resilient and cheaper than private alternatives. The central banks of the Bahamas, the Eastern Caribbean Currency Union and Nigeria have already become pioneers in central
In business for six years, Lufax has expanded to meet a growing market demand for fintech products in China with a number of factors helping its success; beginning as a P2P lending firm with the support of Ping An the firm has been able to expand its business to wealth management and overall sees an underserved domestic market of over one billion people interested in the firm's solutions; it now has over 25.5 million registered users, RMB390.92 billion ($57 billion) of retail assets and RMB111.65 billion ($16 billion) of loans under management; it has been able to successfully navigate the market challenges with help from Ping An and is now approaching an even more global introduction through its potential initial public offering expected for later this year in Hong Kong which could raise approximately $5 billion for the firm. Source
Ellevest, the financial company built by women for women, recently announced a $53 million Series B investment round.
The Consumer Financial Protection Bureau director told Congress he will revise some rules as the bureau looks to address late fees.
Delivery Hero will continue to exercise a disciplined capital allocation, and focus on investments that are in line with the Group’s strategic vision.
Investing has never been more accessible, and banks and credit unions are losing deposits (and relationships) to investing fintech startups.