Fintech

Aspiration co-founder to plead guilty to $248M fraud scheme

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Sustainability-focused fintech Aspiration was flying high a few years ago, attracting famous investors including Orlando Bloom, Leonardo DiCaprio, and Robert Downey Jr. Now, its co-founder will plead guilty to helping perpetuate a $248 million fraud scheme, according to U.S. attorneys. Joseph Sanberg, who was arrested in March, has agreed to plead guilty to two counts […]

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Figure’s IPO filing marks Mike Cagney’s return to public markets

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Figure Technology, a seven-year-old blockchain-based lending company, has filed for an IPO of its Class A common stock on Nasdaq, with Goldman Sachs, Jefferies, and BofA Securities serving as its lead bookrunners. The number of shares on offer and price range have not yet been determined. Figure says in its IPO paperwork that its revenue

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Indian fintech Paytm wins a major regulatory battle days after key investor exit

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Indian fintech giant Paytm has received long-awaited approval from the country’s central bank to operate as a payment services provider for online merchants — just days after one of its Chinese investors sold its entire stake — marking a key regulatory breakthrough after months of setbacks and scrutiny. On Tuesday, the Reserve Bank of India

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Billing platform Lava raises $5.8M to build digital wallets for the ‘agent-native economy’

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A new startup, Lava Payments, aims to take on payment giants by building a solution for the modern web where AI agents now handle transactions for their customers. The idea came to founder Mitchell Jones after he left his earlier Y Combinator-backed fintech startup, Lendtable, as he began to experiment with AI. He saw the

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AI-powered fintech Alaan raises $48M, one of the largest Series A rounds in MENA

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When Parthi Duraisamy was a consultant at McKinsey’s Dubai office, he discovered that the American Express cards his company relied on for corporate expenses were rarely accepted in the Middle East. This forced Duraisamy to cover significant travel expenses out of pocket and file endless expense reports. “It was a constant pain,” Duraisamy explained on

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Uzbekistan’s first unicorn, Uzum, leaps to a $1.5B valuation

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At a time when the world feels increasingly divided between East and West, Uzbekistan has emerged as a rare middle ground, as the Central Asian nation’s homegrown unicorn, Uzum, has raised $65.5 million in a new funding round co-led by China’s Tencent and the New York- and London-based VR Capital, with participation from U.S.-based FinSight

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Cash App users can now pool money for group payments — even with non-users

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Cash App launched a new peer-to-peer payment feature on Tuesday called “Pools” that allows users to pool money with friends or family members to pay for expenses like grocery bills, restaurant checks, vacations, and group gifts. Initially available to select users, it will expand more widely in the coming months. Users can create Pools through

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PayPal taps wallets from China and India to make cross-border payments easier for 2 billion people

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PayPal announced Wednesday it has partnered with global wallet companies to create a platform called PayPal World that is designed to make cross-border commerce easier. The platform will allow users to pay others using their local wallets and payment systems. The company said the launch partners include India’s NPCI International Payments Limited, which operates mobile

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Rex Salisbury’s Cambrian Ventures raises new fund, bucking fintech slowdown

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Rex Salisbury, the solo GP behind Cambrian Ventures, fondly recalls the time he fell in love with fintech. The year was 2015, he had recently left his job as an investment banker to try his hand on engineering at a mortgage startup. “That’s when you had companies like Stripe, Plaid, Credit Karma, Wealthfront starting to

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