FinTech News

Berkshire Hathaway, Other Foreign Firms to See Payoffs From India’s Fintech Revolution

China’s transformation from a financial-technology backwater into a $46 trillion-a-year global leader in digital payments left most international investors watching in awe from the sidelines. Now India is undergoing its own fintech revolution, and the race is on to grab …

Construction Fintech Built Nabs $1.5B Valuation; Growth Plans Include Insurance

Built Technologies, a construction industry-focused financial-technology startup, has more than tripled its valuation to $1.5 billion after raising $125 million in an equity funding round led by TCV. Brookfield Technology Partners, 9Yards Capital, HighSage Ventures and XYZ Venture Capital participated …

Financial Services Firms Beware, Outsiders Are Cracking the Code

Anyone can be a banker these days, you just need the right code. Global brands from Mercedes and Amazon to IKEA and Walmart are cutting out the traditional financial middleman and plugging in software from tech startups to offer customers …

Israeli Fintech Pagaya Agrees to Go Public via $8.5B SPAC Deal

Israeli fintech Pagaya on Wednesday agreed to go public through a merger with special-purpose acquisition company EJF Acquisition Corp in a deal with an enterprise value of $8.5 billion. The deal will include a $200 million private investment in public …

India’s Data-Sharing System Promises to Open Finance to Millions

India unveiled a data-sharing system that could revolutionize investing and credit, giving millions of consumers greater access and control over their financial records and expanding the potential pool of customers for lenders and fintech companies. Regulators agreed to allow banks, …

Tech Giants Are ‘Too Big to Fail’ Because They Host Insurers, Banks on Cloud Platforms

More than a decade on from the financial crisis, regulators are spooked once again that some companies at the heart of the financial system are too big to fail. But they’re not banks. This time it’s the tech giants including …

Amazon Enters India Wealth Management with Investment in Smallcase Technologies

Amazon.com Inc. has made its maiden investment in India’s wealth management sector, participating in a $40 million round by fintech startup Smallcase Technologies Pvt. The Bangalore-headquartered startup said the round was led by Faering Capital Pvt and also joined by …

Fintech and On-Demand Insurer N26 Eyes Value of About $10B in New Fundraising

N26 GmbH is holding discussions with investors to raise several hundred million dollars in a fundraising that could value the German fintech at about $10 billion, according to people familiar with the matter. The firm, backed by billionaires Peter Thiel …

Indian Fintech Startup Aims to Win Insurance Clients with Fresh $200M Funding Round

Indian fintech startup Digit boosted its valuation to $3.5 billion in a fresh funding round, gaining capital for its effort to win insurance customers via mobile technology. The company is raising $200 million from Sequoia Capital India, existing investor Faering …

Canadian Fintech Company Ratehub Launches Insurance Brokerage

Canadian fintech company Ratehub Inc. has launched a property/casualty (P/C) brokerage called RH Insurance. Toronto-based Ratehub, which operates the financial product comparison site Ratehub.ca, said the launch brings the company one step closer towards achieving its goal of “being Canada’s …