Goldman Sachs is exploring strategic alternatives for its consumer arm and FinTech unit GreenSky as it scales down its retail ambitions. Among the firms that submitted initial bids for the installment lending platform, which Goldman Sachs acquired for $2.24 billion last March, are Apollo Global,...
The Middle East and North Africa (MENA) region is quickly becoming a hotbed for open banking, driven by a unique ecosystem, booming consumer demand and “forward-thinking” regulators, said Abdulla Almoayed, founder and CEO at Tarabut Gateway. According to Almoayed, this trend has made it possible...
New York and London — two of the world’s leading business-destination cities and top global financial centers — have a “strong two-way flow in terms of FinTech innovation,” say Innovate Finance CEO Janine Hirt and Stephen Feline, North America director at London & Partners. “When...
The last of the earnings reports are trickling in across the FinTech IPO Index, with more decliners than gainers, which in turn helped send the index down 2.4% for the week. OneConnect posted results that showed total revenues declining in the most recent quarter by 9.1% year...
The FinTech IPO gathered 2.4% in a week that saw the last few remnants of earnings reports trickle in. And of course, beyond the revenues and various customer metrics detailed in those quarterly reports, there were firms that had non-earnings headlines of their own. Upstart...
Petal has raised new funding and spun off its Prism Data unit. The spinoff results in two independent FinTech companies that leverage open banking data to expand access to financial services for consumers without accurate credit scores, Petal said in a Wednesday (May 10) press...
A spate of earnings reports rolled in through the past week, and a rough parity between gaining stocks and decliners held the FinTech IPO Index to a 1.4% gain. NerdWallet shares plunged 30% through the past five sessions. In the company’s most recent earnings report, the...
Vera Equity has launched with a $20 million fund focused on early-stage FinTech companies. The new venture capital (VC) firm has invested in 20 FinTech startups to date, Vera Equity said in a Monday (May 1) press release. The firm was co-founded by Michael Vaughan,...
Bank runs were only part of the story this week. And as the FinTech IPO Stock Index sank for another week, down 2.5%, the positive returns year to date are getting winnowed down. The index is up just under 7% since 2023 dawned. Interest rates...
