On The Web

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Deals

First Boulevard Raises $5M for Its Digital Bank Aimed at Black America

March 1 2021

• in
• Neobanks

“The murder of George Floyd last May ignited many things in the United States last year — one of which that was perhaps unexpected: a rise in the number of digital banks targeting the Black community. Some members of the Black community took their belief that big banks are not meeting their needs and turned […]

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Providers

Fintech Inspired by Black Lives Matter Targets Underbanked

February 19 2021

• in
• Neobanks

“Paybby, a new challenger bank whose founder was inspired by the Black Lives Matter protests last summer, is teaming with banks and others to make loans to minority-owned businesses and develop consumer and commercial financial products that meet the distinct needs of underserved communities. To get Paybby (which stands for “pay Black brown and you” […]

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Deals

Fintech Darling Nubank Raises Blockbuster $400M Series G at $25B Valuation

January 28 2021

• in
• Neobanks

“While the pandemic has left some startups strapped for cash, the aptly-named Brazilian neobank Nubank is swimming in it. This morning, the company announced that it has raised a $400 million Series G round, putting their total funding to date at $1.2 billion. But even more remarkable, in addition to their new $25 billion valuation […]

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Providers

Upgrade Launches Checking Accounts and Debit Cards

January 14 2021

• in
• Fintech
• Neobanks

“Fintech startup Upgrade has been positioning itself as a neobank. And yet, the company has mostly been focused on personal loans and more recently credit cards. You couldn’t just replace your bank account with Upgrade. Upgrade is adding two important missing pieces of the puzzle with checking accounts and debit cards.”

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Providers

BBVA Says That It Is Shutting Down Banking App Simple, Will Transfer Users to BBVA USA

January 8 2021

• in
• Neobanks

“Some consolidation is underway in the world of challenger banking apps. BBVA today told users of Simple — the pioneering mobile and online banking app that it acquired for $117 million in 2014 — that it is planning to shut down the service, moving accounts to BBVA’s USA business in the process. The move is […]

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Providers

As Neobank Valuations Bubble Up, Some Investors Think There’s an Even Better Bet in Fintech

October 18 2019

• in
• Banks
• Neobanks

“Venture capitalists have poured billions of dollars into digital bank startups, and at least one more megadeal is expected before this year is over. Questions are being raised , however, about whether this fintech craze is another quixotic quest for market share that burns cash but doesn’t generate much profit in return.”

On The Wires

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Deals

Fair, Neobank and Financial Services Platform, Raises $20MM in 40 Days With Focus on People Over Profit

February 10 2021

• in
• Neobanks

“Fair , a multilingual neobank and financial services platform, will open early bird membership enrollment in March, with a public launch in April. The membership-based fintech startup aims to empower consumers with ethical banking, lending, investments and retirement services that improve traditional, profit-driven banking models.”