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Deals

Goldman Sachs Invests $69 Million in Britain’s Starling Bank

“British digital bank Starling said on Monday that Goldman Sachs (GS.N) had invested 50 million pounds ($69 million) in the UK lender. The investment is an extension of Starling’s oversubscribed 272 million pound funding round, valuing the bank in excess of 1.1 billion pounds, Starling said in a statement.”
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Deals

Digital bank Nubank to invest $135 million to expand in Mexico

“Brazilian digital bank Nubank announced on Thursday a $135 million investment to expand services in Mexico. According to a statement, Nubank will inject $70 million in its Mexican subsidiary and the rest will be financed by JPMorgan Chase & Co JPM.N, Goldman Sachs and Bank of America Corp BAC.N.”
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Deals

Avant Doubles Down on Digital Banking With Zero Financial Acquisition

“Avant , an online lender that has raised over $600 million in equity, announced today that it has acquired Zero Financial and its neobank brand, Level, to further its mission of becoming a digital bank for the masses. Founded in 2012, Chicago-based Avant started out primarily as an online lender targeting “underserved consumers,” but is […]
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Providers

FTC Shuts Down Savings App Beam Under Tentative Settlement

“Beam — the mobile savings app that imploded last year after a CNBC investigation revealed dozens of customers were unable to get their money out — has been shut down for good under a tentative settlement with the Federal Trade Commission. As part of the settlement, Beam is banned from operating a mobile banking app […]
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Deals

UK Challenger Bank Starling Raises $376M, Now Valued at $1.9B

“Challenger banks continue to see huge infusions of cash from investors bullish on the opportunity for smaller and faster-moving tech-based banking startups to woo customers from their larger rivals. In the latest development, UK-based Starling announced that is has closed £272 million ($376 million at current rates), at a pre-money valuation of £1.1 billion.”
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Deals

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

“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 […]

On The Wires

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Deals

Singapore-based Neobanking Startup StashFin Raises USD 40 MM in Series B Extension Equity Financing From a Clutch of Global Investors to Expand in South Asia

“Singapore-based neo-banking startup Morus Technologies Pte Ltd ‘StashFin’ has announced the successful completion of Series B Extension equity financing of USD 40 million from a clutch of global investors…Founded in 2016, StashFin offers an innovative Credit Line Card in partnership with VISA that permits customers to access their credit facility with easy monthly installments and zero annual fees. Customers […]