PYMNTS-MonitorEdge-May-2024

funding

Funding is the act of providing financial resources, usually in the form of money, or other values such as effort or time, to finance a need, program, and project, usually by an organization or company.

Source: en.wikipedia.org

Yendo Raises $165 Million for ‘Vehicle-Secured’ Credit Card
Yendo Raises $165 Million for ‘Vehicle-Secured’ Credit Card
May 16, 2024  |  Investments

Yendo, a FinTech offering a credit card tied to users’ car equity, is $165 million richer. The company announced the new funding — $150 in debt financing,...

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Supreme Court Rules CFPB Funding Mechanism Constitutional
Supreme Court Rules CFPB Funding Mechanism Constitutional
May 16, 2024  |  CFPB

The Supreme Court ruled Thursday (May 16) that the Consumer Financial Protection Bureau’s funding mechanism is constitutional. The decision reversed a lower court ruling that threatened the very existence of...

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Cover Genius Raises $80 Million to Grow Embedded Protection Offering
Cover Genius Raises $80 Million to Grow Embedded Protection Offering
May 15, 2024  |  Investments

InsurTech Cover Genius has raised $80 million in Series E funding to grow its embedded protection offering. The company will use the fresh capital to...

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Digital ID Startup Humanity Protocol Valued at $1 Billion
Digital ID Startup Humanity Protocol Valued at $1 Billion
May 15, 2024  |  Digital Identity

Decentralized identity startup Humanity Protocol said it is now a $1 billion company. The firm announced the private valuation in a Wednesday (May 15) blog post as it revealed...

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Supreme Court Ruling on CFPB’s Fate May Rewrite the Rules of Banking and Credit
Supreme Court Ruling on CFPB’s Fate May Rewrite the Rules of Banking and Credit
May 14, 2024  |  CFPB

For the Consumer Financial Protection Bureau (CFPB), the courts have been a hotbed of action, lawsuits, appeals and back-and-forth between lawyers. Almost everything boils down to the decision...

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Tech Titans, Startups Bet Big Bucks on AI’s Future
Tech Titans, Startups Bet Big Bucks on AI’s Future
May 10, 2024  |  artificial intelligence

Tech giants and startups are investing billions in AI infrastructure, training and development, with Microsoft planning a $3.3 billion AI data center in Wisconsin, startup...

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How Alternative Solutions Are Challenging Traditional Credit Models for SMBs
How Alternative Solutions Are Challenging Traditional Credit Models for SMBs
May 08, 2024  |  SMBs

A record-breaking number of new business applications were filed in the United States last year; 5.5 million, to be exact. While that’s a great sign for American entrepreneurship, the surge in...

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95% of CEMEA Growth Corporates Plan to Access Working Capital This Year
95% of CEMEA Growth Corporates Plan to Access Working Capital This Year
May 08, 2024  |  Loans

Just 58% of growth corporates in Central Europe, the Middle East and Africa (CEMEA) had been using working capital solutions, but that percentage is slated...

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Monzo Valued at $5.2 Billion Amid US Neobank Expansion Plans
Monzo Valued at $5.2 Billion Amid US Neobank Expansion Plans
May 08, 2024  |  Investments

U.K. neobank Monzo reportedly raised $190 million as it plans to expand overseas. The funding brings the total Monzo has raised to $610 million so far this year, valuing it at $5.2 billion,...

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