Venture capital

Funding for fintech startups: Down but not out


Venture capital investment has plummeted in many coronavirus-ravaged economies, but larger, profitable fintech firms with the right digital products might still score funding.


Regulators extend comment deadline for Volcker Rule changes


The agencies will give the industry another month to submit feedback on the so-called covered fund portion of the rule "in light of potential disruptions resulting from the coronavirus.”


Citi tries new tack to push its social agenda: Venture investing


Ed Skyler, the bank's global head of public affairs, says a newly established $150 million fund will make equity investments in firms seen as having a positive impact on society.


Regulators propose Volcker Rule changes to allow VC stakes


In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures.


Gene Ludwig, Chip Mahan launch $545M fund for bank-friendly fintechs


Ludwig, a former regulator and CEO of Promontory Financial, and Mahan, the head of Live Oak Bancshares, say they want to back tech startups that support community banks. The ABA and ICBA are among the fund's investors.


Scharf’s first day at Wells Fargo; Zuckerberg readies to face the Hill


The new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra.


Cloud banking provider nCino raises $80 million


The company will use the funds to increase research and development efforts as well as expand its global presence.


What Citi sees in Even Financial


The bank helped raise $25 million for the fintech because of its potential to bring banks and nonbanks together in a virtual marketplace.


Farmers National expands near Cleveland with Maple Leaf purchase


Farmers will pay $40 million for the bank, which is in an affluent area in northeast Ohio.


Shakeout predicted in automated wealth management


Traditional players are getting innovative, and upstarts are becoming more sophisticated. The survivors will be companies that offer consumers an array of easy-to-use services, a venture capitalist says.