Cross River Intelligence Archives

Partnerships between traditional financial services and FinTech continued this past week. Wells Fargo announced a partnership with FinTech startup Blend to improve the mortgage application experience. Retail giant Walmart and Google Express announced a partnership to challenge Amazon’s online dominance of e-commerce.  Overall, the news is a part of a larger trend of traditional financia ...

The quest for regulatory clarity made significant progress in recent weeks. State regulators, faced with the prospect of a Federal OCC charter, are responding to calls for harmonization in state-by-state lending laws. American Banker reports that states are coordinating to develop a single, harmonized regulatory structure for FinTech firms. Congress may clear up the regulatory un ...

FinTech financings and M&A continued this week. PayPal acquired Swift Capital, a provider of working capital to small business owners. PayPal cited Swift’s talent and capabilities as rationale for the transaction, as well as a desire to strengthen PayPal’s overall merchant value proposition. We note that PayPal invested in LendUp just a few weeks ago. The payment processor appears ...

This past week featured a slate of fintech venture financings. Kabbage (Series F: $250M), Dianrong (Series D: $220M), Bread (Series B: $126M), and Juvo (Series B: $40M) all announced major financings. And last, but not least, PeerIQ announced our $12M Series A round, led by TransUnion, Hearst Financial Venture Fund, and Macquarie Group. It was great to announce the investment—and the majo ...

Investment by TransUnion, Hearst's Financial Venture Fund and Macquarie Group to fuel expansion of PeerIQ's core platform New York, Aug. 02, 2017 (GLOBE NEWSWIRE) -- PeerIQ, a leading provider of data and analytics for the lending sector, today announced that it has closed a $12 million Series A funding round, co-led by TransUnion, Hearst’s Financial Venture Fund and Macquarie Group, along ...