Fintech: SoFi Buys Galileo for $1.2 Billion

. 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 …

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Fintech: deVere Group Cites Big Weekly Jump in Fintech Usage

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.

Fintech: iCapital Network Announces $146 Million Funding Round

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.