Fintech

Google taps India’s love for gold to boost its credit play

Google is leveraging India’s deep-rooted affinity for gold to expand its reach in the lending market of the world’s most populous nation. The company said on Thursday that Google Pay has partnered with Muthoot Finance, India’s largest gold-backed loans provider, to offer secured loans to users across the country.  Google said the move aims to […]

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Starling Bank fined $39 million for ‘facilitating financial crime’

Starling Bank, a popular challenger bank based in the U.K., has received a £29 million fine from the country’s financial regulator (around $39 million at current exchange rates). The Financial Conduct Authority (FCA) found the startup didn’t have proper financial crime controls from 2021 to 2023. Starling has been around for more than a decade.

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VCs expect a surge in startups offering lower rate mortgages, other loans now that the Feds cut rates

When the U.S. Feds cut interest rates by half a percentage point last week, it was a dash of good news for venture capitalists backing one particularly beleaguered class of startups: fintechs, especially those that rely on loans for cash flow to operate their businesses.  These companies include corporate credit card providers like Ramp or

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Former Brex COO who now heads unicorn fintech Figure says GPT is already upending the mortgage industry

Lending startup Figure announced today a rollout of AI tooling to make the home lending process more efficient. The company will be launching an AI tool powered by GPT-4 to help catch errors in lending documents.  Figure, founded in 2018, specializes in helping consumers secure home equity lines of credit. The company touts that its

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Fintech Mesa promises 1% cash back on mortgages, up to 3x on other home needs

Mortgage fintech Mesa has emerged from stealth on Tuesday with $9.2 million in seed capital and a novel idea for homeowners. It’s offering cash back and rewards on all spending done on the home, including the mortgage itself.  Mesa is offering mortgage loans, original or refinancing, that include a credit-card-style 1% cash back on the

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Fintech Jupiter in talks to buy a stake in SBM Bank India

Neobank Jupiter is in talks to acquire a stake in SBM India, three sources familiar with the matter told TechCrunch, the latest example of an Indian fintech startup pursuing strategic partnerships with traditional banking institutions. The Bengaluru-headquartered startup — backed by Tiger Global and NuBank — is engaging to buy a 5% to 9.9% stake

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Fintech Bolt is buying out the investor suing over Ryan Breslow’s $30M loan

Bolt says it has settled its long-standing lawsuit with its investor Activant Capital. One-click payments startup Bolt is settling the suit by buying out the investor’s stake “after which Activant will no longer hold any interest in Bolt,” the company said in a statement. Activant’s suit accused founder and then CEO Ryan Breslow of adding

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