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Meet the world’s youngest digital bankers: Jeremy Berger (24) & Ollie Purdue (25)

At 24 years old, most people graduate college, consider different careers options and think about what they want to achieve in their professional lives.

But for every rule, there is an exception. Some 24-year-olds run successful businesses. And some even build their own banks.

We know at least two such exceptions: Ollie Purdue (25) and Jeremy Berger (24).

They have at least two things in common: both are young (obviously), and both have co-founded digital banking startups. And most importantly, both entrepreneurs are similar in their innovative and inclusive approach to banking.

(more…)

About, Banks, Influences FinTech, People of fintech, SME

November 27, 2018

The world’s hottest digital banking startup takes home 2 international awards in one week, preparing to launch in Puerto...

This past year, Puerto Rico has taken its place among the world’s most attractive spots for business incorporation and development of cutting-edge products and services.

Puerto Rico’s governor, Ricardo Rosselló wants to see the island develop to meet the needs of the rapidly growing innovative tech & gig economy: “I would like to see Puerto Rico become a place where businesses serve customers and coordinate operations throughout the Americas, what I like to think of as a “human cloud,” where workers spread across the island handle tasks remotely for businesses around the world.”

Puerto Rico’s agenda aligns well with Arival Bank’s goals, which aims to provide banking services for innovative tech and crypto-related SMEs. It makes Arival Bank a perfect fit into the Puerto Rico ecosystem, creating its solutions on the basis of opportunities, generously provided by the U.S. territory.

Now, it will also become the home for two international fintech awards from different corners of the world, proving that Arival Bank is on the right track.

(more…)

Banks, Fintech news, Hotnews, news, SME

November 14, 2018

How the 22-year-old founders of Brex built a billion dollar business in less than 2 years

Brex co-founders Henrique Dubugras and Pedro Franceschi

Another successful business at 22: this fintech startup led by young Brazilian founders Henrique Dubugras and Pedro Franceschi, reached a $1.1 billion valuation.

Focusing on a huge problem entrepreneurs inevitably face – access to credit – Brex provides startups with corporate credit cards without a personal guarantee or deposit. The service offers a 10x higher credit limit than the market average and simple expense tracking for the whole team.

Public only since June 2018, the startup has already reached support of market giants such as PayPal founders Peter Thiel and Max Levchin and the former chief executive officer of Visa Carl Pascarella. 

(more…)

Credit/Debit/Prepaid cards, Fintech news, SME

October 16, 2018

Arival meets Revolut at Japan’s largest fintech summit

On September 26, Jeremy Berger presented Arival Bank at Fin/Sum2018, held in Tokyo. Arival was selected as one of the top 30 startups to pitch in front of executives from 500 Startups, SBI, MUFG, and other leading investment & financial institutions.

(more…)

Banks, SME

October 2, 2018

579

BofA Entices SMBs To Grow Account Balances With Rewards Program

Bank of America wants small business (SMB) customers to focus on growing their account balances and is introducing a new rewards program to encourage them to do so. (more…)

Banks, Global trends, SME

March 27, 2018

Fundbox addresses SME access to credit with Fundbox Pay

By Fundbox

Today Fundbox, the leading small business growth company, announced the launch of Fundbox Pay, a new payment and credit solution servicing the $4.5 trillion small business-to-business (SMB2B) transactional market in the U.S. (more…)

Fintech news, Global trends, p2p/online lending, SME

March 16, 2018

555

Sberbank online toolkit for changing company constitutent documents

By Sberbank,

Sberbank has launched a new online service for small businesses which helps them to prepare the documents needed to make changes to charters and constituent documents of individual entrepreneurs and limited liability companies. (more…)

Banks, SME

March 1, 2018

ING introduces Receipts & Invoices app for SMEs

ING has built a ‘digital shoebox’ app that lets small business clients use their phone cameras to scan receipts and bills, then link them directly to transactions.

Currently available in the Netherlands, where it has already attracted over 42,000 users since launching in November, the Receipts & Invoices app promises to make paperwork simpler for small firms.

(more…)

Banks, SME

January 31, 2018

895

DBS cuts transaction fee for SME payments as more SMEs go online

DBS said on Tuesday it has cut transaction costs for small and medium-sized enterprises (SMEs), as more of the SME transactions go online. (more…)

Banks, SME

January 23, 2018

897

Software-only Wealthfront raises $75 million

Wealthfront, the software-based wealth management company that is targeting the millennial segment, has raised $75 million in a funding round led by Tiger Global Management. (more…)

SME, Wealth management

January 9, 2018

969

Ant Financial, Didi, and Xiaomi named top 3 Chinese unicorns, says Hurun Report

The Hurun Research Institute released today the Hurun Greater China Unicorn Index 2017, where Ant Financial, Didi Chuxing, and Xiaomi top the chart. The report listed out 120 best unicorns in the Greater China region that are valued over $1 billion as of the end of November 2017. (more…)

Fintech news, Global trends, Hotnews, InspirAsia, SME

December 22, 2017

694

Icici takes the paperwork out of PPF account opening

ICICI Bank, India’s largest private sector bank by consolidated assets, today announced the launch of a digital service that enables customers to open a Public Provident Fund (PPF) account instantly and in a completely online and paperless manner. (more…)

Banks, SME

December 8, 2017

957

Nordea brings e-invoicing to Facebook Messenger

Nordea has collaborated with Nordic payments processor Nets on a service which enables consumers to post invoices and pay their bills via Facebook Messenger. (more…)

Banks, Fintech news, Global trends, Hotnews, SME

November 29, 2017

898

Ant Financial bans high interest loans

Ant Financial has banned consumer loans with annual interest rates above 24% from its Alipay platform. (more…)

Global trends, Hotnews, SME

November 24, 2017

Japanese pawn shop app Cash acquired for $62.2M by DMM

DMM, one of Japan’s largest Internet and e-commerce conglomerates, announced today that it will pay 7 billion yen (about $62.2 million) for pawn shop app Cash. Launched this summer, Cash’s software automatically appraises an item’s value based on user photos and offers a cash advance with it as collateral. (more…)

Deals, Fintech news, Global trends, InspirAsia, SME

November 21, 2017

901

BNP Paribas buys stake in SME credit specialist Caple

BNP Paribas Asset Management (BNPP AM) has bought a 10% stake in a new alternative SME credit specialist called Caple as part of a wider strategic alliance. (more…)

Banks, p2p/online lending, SME

November 18, 2017

930

Kabbage Announces New $200 Million Asset-Backed Revolving Credit Facility With Global Financial Institution Credit Suisse

By Samantha Hurst for Crowdfundinsider

Kabbage Inc., a global financial services, technology and data platform serving small businesses, announced on Thursday its new $200 million asset-backed revolving credit facility with Credit Suisse, a global financial institution. This news comes less than a month after Kabbage announced it and ING were extending its strategic partnership with Italy and France. (more…)

Global trends, p2p/online lending, SME

November 18, 2017

729

Allset raises $5M to help restaurants deliver a more efficient dining experience

By Anthony Ha for TechCrunch

Allset has raised $5 million in Series A funding led by Greycroft. (more…)

Deals, Global trends, Hotnews, SME

October 18, 2017

781

MarketInvoice Celebrates New Varengold Partnership & £1.5B Funding Milestone

By Erin Hobey for Crowdfundinsider

Big news for business finance company MarketInvoice who not only is celebrating a £1.5b funding milestone but has also signed an agreement with Varengold Bank AGto provide £45m funding annually on its invoice finance platform, funding working capital solutions for businesses across the UK. (more…)

Hotnews, SME

September 20, 2017

935

Xero and Santander team on SME banking service

By Xero

Today, Xero, the UK’s leading online accounting software, and Santander, announce an integrated service for SMEs. (more…)

Banks, SME

September 15, 2017

1485

At $3 Billion in Loans, Amazon is Quickly Becoming a Huge SME Lender

By Crowdfund Insider

Amazon (NASDAQ:AMZN) announced today that it had originated over $3 billion in loans to more than 20,000 small businesses since 2011. One billion of those loans came in the past 12 months. Peyush Nahar, VP for Amazon Marketplace, released a statement on the milestone; (more…)

Global trends, p2p/online lending, SME

June 9, 2017

1011

Here’s how likely your startup is to get acquired at any stage

By Jason Rowley for Techcrunch.com

Let’s say you randomly selected 1,000 seed-stage startups based in the United States. How many of those would go on to raise a Series A? Of companies that go on to raise a Series A, how many would go on to raise a Series B? You could keep this process going until only a few companies remain. (more…)

Global trends, Hotnews, SME

May 24, 2017

1110

CreditHero wants to help fix credit scores for those afraid to even look

By Matthew Lynley for Techcrunch

With apps like Robinhood and services like Wealthfront for investing, and Credit Karma to check your credit score regularly, it might seem like financial services are finally getting more palatable and mainstream. But to Nicole Sanchez, people still need to have decent credit to get to the point where they’ll use those services — and that’s a huge hurdle to cross. (more…)

Credit scoring, SME

May 16, 2017

MarketInvoice Receives £45 Million to Lend from BNI Europe

MarketInvoice, a UK based invoice financing platform, has received a £45 million lending commitment from Portuguese bank BNI Europa. (more…)

Deals, p2p/online lending, SME

May 15, 2017

Tungsten Targets Procure-to-Pay Friction With New Partner

Electronic invoicing company Tungsten has teamed up with the Institute of Finance and Management (IOFM) to help educate its business customers on how to streamline supply chain management. (more…)

p2p/online lending, SME

May 9, 2017

892

Intuit Taps Machine Learning For Freelancer Expense Management

As TechCrunch put it in its Tuesday (May 2) report, expense management for the self-employed “sucks.” (more…)

Fintech news, Global trends, Mobile payments/banking, SME

May 4, 2017

Australia Tries Its Hand At E-Invoicing

Electronic invoicing within government entities is a proven way to reduce fraud and wasted federal funds. Research shows countries in South America are leading the charge, while Europe and the United States have lagged behind. (more…)

Global trends, InspirAsia, SME

May 2, 2017

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PayPal launches Business in a Box service for SMBs

PayPal has unveiled a new service, called Business in a Box, which brings together a host of tools designed to help small firms start and run their online operations. (more…)

Banks, p2p/online lending, SME

May 2, 2017

1415

RegTech, AI Fuel Strong B2B FinTech Numbers

BY PYMNTS

Good news emerged from the U.S. venture capital sphere this week: VC funding for FinTech startups in Q1 alone hit $1.2 billion, found a new report from KPMG. Analysts said the industry has seen its highest venture capital activity since Q1 of 2016, fueled by focus on late-stage investment rounds. (more…)

Deals, Fintech news, Global trends, SME

April 28, 2017