Tag: neobank

January 11, 2023

Writing on LinkedIn, the firm says that due to “challenging times” and despite its best efforts, “we were unable to overcome the market dynamics to raise additional funding”. Ruuky says the decision to file for insolvency “was not taken lightly” […]

August 22, 2022

If details seemed sparse in last month’s sudden disintegration of the proposed merger between neobank American Challenger and Patriot National Bank, one missing component, a court filing indicates, appears to be Credit Suisse. American Challenger sued Switzerland’s second-largest bank and […]

June 28, 2022

With the new licence now in hand, Kroo can offer depositors protection through the Financial Services Compensation Scheme (FSCS) for up to £85,000. Founded in 2016, Kroo offers its 23,000 customers a current account with overdraft facilities along with socially […]

April 12, 2022

Step said it has designed the new investing feature responsibly, “with teens’ safety top of mind.” Parents will be able to oversee their teen’s access to the investing feature and will have the ability to manage their teen’s monthly limits, […]

October 13, 2021

The bank has raised $100 million in a Series C led by Temasek and featuring Google. Tiger Global, 3one4 Capital, and SBI Investment also participated. Now valued at around $500 million, TechCrunch reports the bank is seeking to quickly raise […]

August 3, 2021

The challenger says the funds take its total valuation up to $1.62 billion, making it the country’s latest banking unicorn. The raise also included participation from Andreessen Horowitz, CRV, and Sapphire Ventures as well as a number of angel investors. […]

May 11, 2021

Lili, a neobank, announced Tuesday that it has raised $55 million in this latest round of fundraising, giving it $80 million in capital raised so far. Since its prior funding round in November last year, the company’s customer base has […]

April 19, 2021

LONDON — British digital bank Starling has raised £50 million ($69 million) in funding from Goldman Sachs’ growth equity investment arm. The fresh cash comes on top of a £272 million investment round Starling announced last month that valued the […]

April 12, 2021

The Prudential Control and Resolution Authority (ACPR), which operates under the Banque de France, issued a statement on 6 April. It stated that “the term ‘neobank’ must necessarily qualify a credit institution”. The regulator is wary firms are “mislead[ing] users […]