Venture funding

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.


Now $500 million richer, Chime eyes acquisitions


The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said.


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.


Subprime card lender introduces ex-Barclays exec as CEO


Mission Lane, which was spun off from LendUp in December, said Monday that Shane Holdaway took the helm in August after roughly a year serving as CEO of Barclays' U.S. consumer bank. The upstart lender also announced that it has raised $200 million in equity funding.


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.


Challenger banks rake in venture capital bucks


Changing consumer attitudes about these companies and the emergence of open banking have made them appealing to venture investors, whose commitments rose 15% in the first half of the year.


Warren bill takes aim at private equity 'vampires'


A centerpiece of her “economic patriotism” bill is to transform private equity firms, which she said will buy a company and bleed it dry before “walking away enriched even as the company succumbs.”


Varo Money raises $100M, files deposit insurance application


The new funding comes as the challenger bank inches closer to gaining regulatory approval for a national bank charter.


Goldman Sachs invests $28M in German fintech set for U.S. debut


Raisin, an online marketplace that aggregates high-yield savings accounts in Europe, aims to launch in the U.S. in the next nine to 12 months.


Which fintechs are best positioned to handle a recession?


In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.