Fintech

Apple says support for redeeming rewards will later come to Apple Pay

On Thursday, Apple celebrated 10 years with Apple Pay and announced how the service will evolve in the future, including with the later addition of redeeming rewards and expanding installment loan options. In addition to Apple Pay’s newly added support for loan options from Affirm in the U.S., and Monzo Flex in the U.K., the

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India’s central bank orders Sachin Bansal’s Navi to halt loans

India’s central bank ordered four non-bank lenders, including Navi Finserv and DMI Finance, to halt loans from October 21, citing excessive interest rates and regulatory breaches. The Reserve Bank of India said (PDF) the firms violated rules on pricing, income assessment, and asset classification. This action follows months of warnings about responsible lending practices, it

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Rerail is a new fintech-focused angel fund from Cocoa’s Anthony Danon

If you’re starting a fintech company, there’s a new, small early-stage fund looking for investment opportunities. Founded by Anthony Danon (pictured above), Rerail could be called a micro-fund, a solo GP fund, or an angel fund. Danon has been an investor for the past 10 years. He started his career with Anthemis Group in London

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European unicorn Alan becomes Canada’s first new health insurance company in almost 70 years

In 2016, when Alan originally launched its health insurance product in France, it was the first new health insurance company in the country in 30 years. Now, as Alan announces its expansion to Canada, the startup is about to break a new record: There hasn’t been a new health insurance company in Canada since 1957.

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AI mortgage startup LoanSnap loses license to operate in Connecticut

LoanSnap, an AI-powered mortgage startup, has had its license to operate revoked in Connecticut, according to the state’s Banking Commissioner. This occurred after LoanSnap violated a consent order it had entered into with the Department of Banking in May. The department revealed Tuesday that its consumer credit division opened an investigation that found multiple violations

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Fintech OpenBB aims to be more than an ‘open source Bloomberg Terminal’

Fledgling fintech startup OpenBB is revealing the next step in its plans to take on the heavyweights of the investment research world. The company is launching a new, free version of a product that will open its arsenal of data and financial tooling to more users. OpenBB is the handiwork of software engineer Didier Lopes,

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Flutterwave’s chief on the company’s executive hires, product focus, and IPO plans

Last month, Flutterwave, Africa’s most valuable startup, appointed Mitesh Popat as its new chief financial officer. The company, valued at $3 billion when it raised a Series D in 2022, appointed Popat after the resignation of Oneal Bhambani, who stepped down ten months ago for personal reasons. Bhambani joined Flutterwave in mid-2022, during a turbulent

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Klarna is about to oust another board member

Klarna, the Stockholm-based buy-now-pay-later outfit that’s barreling toward an IPO, isn’t done shaking up its board. According to the FT,  seven directors just agreed to oust investor Mikael Walther from Klarna’s eight-person board, nearly eight years after he joined it. Walther is a confidante of Klarna co-founder Victor Jacobsson, who remains a major shareholder and,

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