Block, owner of Cash App and Square, is reportedly facing a Department of Justice investigation into alleged compliance failures.
The ZPL-powered zBTC token will allow Bitcoin holders to engage with the Solana DeFi ecosystem.
Tech giants across the board are looking to monetize AI as they continue to pour funds into developing technology and cloud services. “We have clear paths to AI monetization through ads and cloud, as well as subscriptions,” Chief Executive Sundar Pichai said during Google’s April 25 earnings call. “The growth we are seeing across the
This year FinovateSpring will feature eight startups that are winners of our Sustainability & Inclusion Scholarship program. The program is designed to showcase underrepresented founders and startups who are creating innovative solutions to combat climate change, promote diversity, and create financial inclusion. To be eligible for the Finovate Sustainability & Inclusion Scholarship program, fintech and technology companies must have less than $7 million in funding. There are five categories in the program: environmental, social, governance, BIPOC founded/owned, and female-founded/owned. Here are the Sustainability & Inclusion Scholarship winners for FinovateSpring 2024: Blee – Scholarship winner in the Governance category. Headquartered in New York and founded in 2022, Blee helps organizations move to market quicker while increasing revenue and minimizing compliance risk. LinkedIn. Endaoment – Scholarship winner in the Social category. Headquartered in San Francisco, California and founded in 2020, Endaoment empowers nonprofit organizations to accept donations in crypto and stock without having to accept the asset directly. LinkedIn. Instarails – Scholarship winner in the Female Founded/Owned category. Headquartered in Alpharetta, Georgia and founded in 2022, Instarails enables banks and other organizations to offer instant, inexpensive, and inclusive payments to boost revenue, generate growth, and pave the way for entry into new markets. LinkedIn. Kobalt Labs – Scholarship winner in the Female Founded/Owned category. Headquartered in New York, NY, and founded in 2023, Kobalt Labs helps fintechs and financial institutions accelerate and strengthen third-party diligence, facilitating revenue-generating partnerships and improving operational efficiency – without increasing headcout. LinkedIn. LiquidTrust – Scholarship winner in the Female Founded/Owned category. Headquartered in Los Angeles, California, and founded in 2019, LiquidTrust enables banks to offer an improved customer experience to their business customers, grow non-interest bearing deposits, and generate additional revenue. LinkedIn. Nav.it – Scholarship winner in the Female Founded/Owned category. Headquartered in Seattle, Washington, and founded in 2019, Nav.it integrates with existing HR systems to help organizations grow their businesses by enhancing employee financial wellness. LinkedIn. Parlay Protocol – Scholarship winner in the Female Founded/Owned category. Headquartered in Alexandria, Virginia, and founded in 2022, Parlay Protocol offers technology that boosts the odds that an applicant will secure access to small business funding while helping banks gain new customers and attract new borrowers. LinkedIn. Remynt – Scholarship winner in the BIPOC Founded/Owned category. Headquartered in San Francisco, California, and founded in 2022, Remynt helps creditors achieve higher recoveries and recapture defaulted consumers as customers as their financial position improves. LinkedIn. FinovateSpring (May 21-23) is only a few weeks away! Take advantage of big early-bird savings on your registration when you buy your ticket by May 10. Photo by Emily Ranquist The post Meet the Sustainability & Inclusion Scholarship Winners for FinovateSpring 2024 appeared first on Finovate.
US federal prosecutors are investigating the financial transactions of Block, the firm co-founded by Twitter's Jack Dorsey, according to NBC News .
The Securities and Exchange Commission, Office of the Advocate for Small Business Capital Formation, has posted a report on minotry and women activity in the
Challenger bank Lunar raised $25.7 million (€24.1 million) in funding, boosting the company’s total raised to around $512 million. Lunar plans to use today’s funds to expand on its basic package offered to Swedish residents to become a more full-service bank. In 2023, Lunar reached 850,000 customers, marking an increase from 700,000 customers the year prior. Challenger bank Lunar announced this week it has raised $25.7 million (€24.1 million) in a supplementary funding round. According to Crunchbase, the new investment boosts Lunar’s total raised to just shy of $512 million, around $54 million of which was brought in over the past four months. Lunar was founded in 2015 and currently offers retail and commercial digital banking services. The company received its banking license in 2019 and on the retail side offers personal checking accounts with debit cards, youth accounts, in-app PFM tools, a BNPL tool that can be retroactively applied to purchases already made, as well as an investing platform that allows users to invest in stocks, ETFs, and crypto. On the commercial side, Lunar offers business bank accounts, automated bookkeeping, cash flow analytics, expense management tools, loans, insurance, and more. “Securing €50.9 million in such a challenging market reflects strong confidence in our growth strategies,” said Lunar Founder and CEO Ken Villum Klausen. “We’re seeing robust growth in our newly launched business area Banking Services, where we’re extending our in-house developed Nordic infrastructure to external partners.” Lunar plans to use today’s funds to expand on its basic package offered to Swedish residents to become a more full-service bank. The company’s banking services are currently available to users in Denmark, Norway, and Sweden. Approaching its 10th year of operation, Lunar reached 850,000 customers in 2023– including 20,000 business users. This total user number marks an increase from 700,000 customers in 2022. Concurrently, customer activity, as measured by transactions, nearly doubled during this period. “Our journey doesn’t stop here, “Villum Klausen added. “We’re not just broadening Lunar’s basic banking services, but we’re also evolving into a full-service bank. Our aim is to cater to both private customers and businesses in Sweden, demonstrating our commitment to growth and our vision for the future.” Photo credit: Lunar The post Challenger Bank Lunar Raises $25.7 Million appeared first on Finovate.
During this week's Federal Open Market Committee meeting, officials voted to lower the cap on the amount of Treasury securities that can roll off the central bank's books each month from $60 billion to $25 billion.