Non-bank Lenders may not take part in the funding process for small businesses provided by the Small Business Administration.
The $349 billion loan program put in place to help small businesses survive the current economic shut down caused by the coronavirus pandemic. The Small Business Administration has been reaching out to banks and lenders to service the PPP loans.
. Online personal finance start-up SoFi has agreed to buy payments software company Galileo for $1.2 billion. The deal is a combination of cash and stock, according to the press release announcing the deal today. SoFi and Galileo Galileo’s digital payments platform enables critical checking and savings account-like functionality via its powerful open APIs, providing …
deVere Group released a report last week that found that the use of fintech apps in Europe grew by 72% in just a week.
The Swiss-based consulting firm said large parts of Europe closed down under quarantine orders. Therefore, consumers turned to mobile and online apps to conduct their personal banking needs and to conduct business. The coronavirus pandemic is likely to cause a global acceleration of fintech usage and product development going forward.
One of the clear winners, if there is such a thing of the current economic situation, will be fintech companies. And we can expect to see a wave of fintech M&A as a result. There was already a trend towards digital platforms in the financial services industry. Now it’s just accelerating. Even those who prefer …
Financial technology platform company iCapital Network announced today that they had closed a $146 million financing round.
The iCapital platform helps advisors that need easy to use technology-enabled investment processes that help to incorporate alternative assets into their portfolios.
The platform also helps alternative asset managers with tie fundraising efforts and helps infostructure providers such as administrators, custodians and transfer agents.