Category Archives: Banking

Starling Bank, now with 460K consumer accounts, raises £75M more for European expansion

Starling Bank, founded by banking veteran Anne Boden, has raised £75 million (~$97 million) in further funding. The new capital breaks down as £60 million in a Series C round led by Merian Global Investors, including Merian Chrysalis, with £15 million in follow-on funding from Starling’s existing backer and major shareholder Harald McPike. It brings total funding to date for the London-based challenger bank to £133 million. Starling says the new funding will support increased investment in the bank’s financial products in retail and SME banking as […]

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The plot to revive Mt. Gox and repay victims’ Bitcoin

It was the Lehman Brothers of blockchain. 850,000 Bitcoin disappeared when cryptocurrency exchange Mt. Gox imploded in 2014 after a series of hacks. The incident cemented the industry’s reputation as frighteningly insecure. Now a controversial crypto celebrity named Brock Pierce is trying to get the Mt. Gox flameout’s 24,000 victims their money back and build a new company from the ashes. Pierce spoke to TechCrunch for the first interview about Gox Rising — his plan to reboot the Mt. Gox brand and challenge Coinbase and Binance for the […]

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Step targets teens and parents with a no-fees mobile bank account and Visa card

A new mobile banking startup called Step wants to help bring teenagers and other young adults into the cashless era. Today, cash is used less often, as more consumers shop online and send money to one another through payment apps like Venmo. But teenagers in particular are still heavily burdened with cash — even though they, too, want to spend their money on things that require a payment card, like Amazon.com purchases or mobile gaming, for example. That’s where Step comes in. The company aims to address […]

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Hola Code tackles the real migration crisis

Tamara Davison Contributor Share on Twitter Tamara Davison is a British journalist reporting from Mexico. She has written for The i Newspaper and Entrepreneur as well as many regional newspapers worldwide, and she is the current editor of Aztec Reports. After spending eight months in an immigration facility in the United States, Abimael Hernandez made the tough decision to return to Mexico. He had spent 14 years in Florida and was leaving behind his wife and three children to return to Mexico so he could go through […]

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Freelancer banking service Shine switches to paid subscriptions

French startup Shine wants to be the only professional bank account you need if you’re a freelancer. So far, 25,000 people have signed up to the service, and the company recently raised a $9.3 million funding round. Shine wants to help freelancers in France all steps of the way. After signing up, the app helps you fill out all the paperwork to create your freelancer status. You then get a card and banking information. This way, you can generate invoices, accept payments and also pay for stuff. […]

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B-Social raises £3.2M seed round to begin building a ‘social’ bank

B-Social, a London fintech that currently offers a “social finance” app and beta debit Mastercard, has raised £3.2 million in seed-round funding from undisclosed high-net-worth individuals. However, the fundraise is just the first step in a journey in which B-Social wants to eventually become a fully licensed bank that reimagines banking around everyday social interactions. As it exists today, the B-Social app and accompanying card enables users to have control over everyday spending, track expenditures and create groups between friends to split bills and record settlements. It’s […]

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Robinhood said to not be properly insured to offer checking & savings

Robinhood’s new high-interest, zero-fee checking and savings feature seems to be too good to be true. Users’ money may not be fully protected. The CEO of the Securities Investor Protection Corporation, a nonprofit membership corporation that insures stock brokerages, tells TechCrunch its insurance would not apply to checking and savings accounts the way Robinhood claims. “Robinhood would be buying securities for its account and sharing a portion of the proceeds with their customers, and that’s not what we cover,” says SIPC CEO Stephen Harbeck. “I’ve never seen a single […]

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N26 says it now has more than 2M customers

N26 announced today that it now has more than 2 million customers — up from 1.5 million in October. The German fintech startup’s CEO Valentin Stalf was interviewed onstage at Disrupt Berlin with Tandem CEO Ricky Knox, where they discussed the growth of what are sometimes called challenger banks or neobanks — new banks that are taking on the incumbents by focusing on digital tools. Stalf said N26 is seeing more than €1.5 billion in transactions each month, with €1 billion in deposits. He also discussed the […]

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Our 3 favorite startups from Morgan Stanley’s 2nd Multicultural Innovation Lab Demo Day 

The Morgan Stanley Multicultural Innovation Lab, Morgan Stanley’s in-house accelerator focused on companies founded by multicultural and female entrepreneurs, hosted its second Annual Showcase and Demo Day. The event also featured companies from accelerators HearstLab, Newark Venture Partner Labs and PS27 Ventures. (Note: I was formerly employed by Morgan Stanley and have no financial ties.) The showcase represented the culmination of the program’s second year, which followed an initial five-company class that has already seen two acquisitions. Through the six-month program, Morgan Stanley provides early-stage companies with a wide range of […]

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Guardian Circle upgrades with a decentralized alert network

Chris Hays and Mark Jeffrey wanted to create a way for everyone to be able to tell their loved ones if they were in trouble. Their first product, GuardianCircle did just that, netting a mention in a few years ago. Now the same team is truly decentralizing alerts with a new token called, obviously, Guardium. The plan is to create an ad hoc network of helpers and first responders. “Guardium and Guardian Circle togther open the emergency response grid to vetted citizens, private response and compatible devices […]

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