Fintech

Nigerian payment service provider Nomba has raised $30 million in a pre-Series B investment to support the delivery of bespoke payment solutions for African businesses. The round, which values the company at $150 million+ according to YCombinator data on its most valuable companies, was led by San

Shares of First Republic Bank plunged by nearly 50% Friday, ratcheting pressure on the troubled bank and adding to its mounting market-confidence woes. As of noon ET, the stock was trading at $3.72, down 40% from Thursday’s close of $6.19, after having dropped as low a $3 at one point Friday.

For the last few years, China’s central bank has been trying to ramp up the adoption of digital yuan, or e-CNY, which forms part of the country’s monetary base, M0. The bank has a designated app for e-CNY that crossed 261 million individual users in early 2022, but it’s also enlis

Shares of First Republic Bank are off 29% in early-morning trading as investors digest its first-quarter earnings results, which came out yesterday after the bell. The bank reported revenue and profit above analysts’ expectations, but for investors, other concerns outweighed the good results.

U.K.-based stock-trading startup Lightyear is finally expanding to the web, nearly two years after the company first emerged out of stealth. Founded out of London in 2020, Lightyear is one of a number of fintechs that promise an easy conduit for the general public to invest their money in some of t

Shopify has teamed up with Israeli B2B payments startup Melio to launch a new bill pay tool designed to allow U.S.-based merchant customers to manage their expenses and vendors via its platform.  It's another step in Shopify's plan to straddle the intersection of fintech and commerce, note

The concept of taking existing properties and repurposing them is not a new one. After all, Airbnb is a high-profile example of people turning vacation homes, for example, into revenue generators when they're not using them. The end result is that travelers have far more options today than they

Apple Card customers in the U.S. can open a savings account and earn interest through an Apple saving account. To learn the specifics about Apple’s new offering, click here. When the company originally announced the new financial product back in October, Apple said that it couldn't share

Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you're reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I'll take a look at the hottest fintech news of the p

Redfin has laid off 201 employees, the third time the Seattle-based real estate company has reduced its workforce since June. The layoffs, which represents about 4% of its workforce, was first reported by GeekWire. A company spokesperson confirmed the layoffs and told technewss in

General Atlantic has poured another $100 million into PhonePe, three months after leading a $350 million investment in the Indian fintech startup that has so far raised $750 million in an ongoing financing round. Walmart-backed PhonePe disclosed the investment in a filing with the local regulator o

Life comes at you fast. A couple of months ago I wrote how Smoakland was testing a loophole to sell cannabis by credit card. The test failed, apparently. “Upon further review, it has come to our attention that the way the process was described in the article could potentially be seen as bank

Visa is partnering with a host of financial service and payment companies for a new interoperable peer-to-peer (P2P) payment offering, one that allows people to transfer money to friends even if they use a different payment service. While digital payments have inarguably transformed the world of co

India’s central bank has halted its plans for a high-profile project intended to rival the nation’s dominant payment system, Unified Payments Interface. The project had attracted significant interest from a variety of major conglomerates, tech giants and financial institutions, includin