The Consumer Financial Protection Bureau is suing SoLo Funds, a fintech company that enables peer-to-peer lending, alleging that the company used “digital dark patterns” to deceive borrowers and illegally took fees while advertising to consumers that there were no fees. “The CFPB is suing SoLo for using digital trickery to hide interest and fees on […]
A few years ago, you couldn’t go to a fintech meetup without ending up in a conversation about embedded finance. In 2020, we even wrote that embedded finance might represent fintech’s future. The distribution strategy lets fintech companies integrate their services into other products and services, which in turn gives users access to new features
The key to taking on legacy players in the financial technology industry may be to go where they have not gone before. That’s what Chicago-based Aeropay is doing. The provider of pay-by-bank solutions for businesses started out helping cannabis retailers and gaming companies with their payments and is now entering into Visa and Mastercard’s territory
The U.S. restaurant industry is expected to pass $1 trillion in sales for the first time this year, despite wider economic pressures on consumers. Now Restaurant365, a startup building tech to manage those businesses, has raised a hot round of $175 million to capitalize on that growth. The funding is being led by ICONIQ Growth
If you live in the U.S., chances are you use apps like Venmo and Cash App to pay back your friends or split the bills with your roommates. Lydia is a French startup that also turned payments into a mobile consumer app and service. Now, after reaching 8 million users, the company finds itself in
Lydia, the French payments app with 8 million users, launches mobile banking app Sumeria Read More »
Go Digit, an Indian insurance startup, has raised $141 million from dozens of investors as part of an initial public offering that starts on Wednesday. Fidelity, Goldman Sachs, Morgan Stanley, Abu Dhabi Investment Authority, Bay Pond, Mirae Asset Management, Steadview Capital, and HSBC, as well as Indian mutual funds operated by SBI, ICICI, Axis, Tata
Indian insurance startup Go Digit raises $141M from anchor investors ahead of IPO Read More »
Welcome to TechCrunch Fintech! This week, we look at the drama around TabaPay deciding to not buy Synapse’s assets, as well as stocks dropping for a couple of fintechs, Monzo raising even more funds, and more! Sign up here to get Fintech in your inbox every Tuesday at 7 a.m. PT! The big story There was
Inside TabaPay’s drama-filled decision to abandon its plans to buy Synapse’s assets Read More »
TabaPay has abandoned its plans to purchase the assets of troubled banking-as-a-service startup Synapse, TabaPay confirmed to TechCrunch today. Synapse says the problem is banking partner Evolve Bank & Trust. And Evolve says it is not involved, and not to blame. Synapse’s counsel declared in bankruptcy court on Thursday that the deal would not be
Groww, an Indian investment app, has become one of the first startups from the country to shift its domicile back to India from the U.S., signaling a broader trend among the local startup community. The Bengaluru-headquartered startup, which allows consumers to buy shares and mutual funds, made the transition in March, its co-founder and chief
Groww joins the first wave of Indian startups moving domiciles back home from US Read More »
India’s mobile payments regulator is likely to extend the deadline for imposing market share caps on the popular UPI payments rail by one to two years, sources familiar with the matter told TechCrunch. The National Payments Corporation of India (NPCI), a special unit of the Reserve Bank of India, plans to extend the deadline for
India weighs delaying caps on UPI market share in win for PhonePe, Google Pay Read More »
