Home equity loan fintech raises $2 million in seed funding
Button Finance intends to use the capital to develop its underwriting platform and increase hiring.
Venture capital
VCs boost investment in Black- and Latinx-owned fintechs
More than 97% of venture backing goes go white-owned startups. Firms like Mendoza Ventures, Chingona Ventures and MaC Venture Capital are stepping in to support underserved entrepreneurs.
Regulators extend comment deadline for Volcker Rule changes
The agencies will give the industry another month to submit feedback on the so-called covered fund portion of the rule "in light of potential disruptions resulting from the coronavirus.”
Regulators propose Volcker Rule changes to allow VC stakes
In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures.
Super-rich families pour into $787 billion private debt market
Family offices—mini-investment firms set up by the super rich to manage their personal wealth—have poured more and more cash into direct lending, Preqin says.
CRE meets AI in fintech’s tool for lenders
Blooma has developed a software product that combs databases to create property profiles for commercial real estate lenders. It can drastically cut origination costs and approval times and help banks identify safer loans, the company says.
Which fintechs are best positioned to handle a recession?
In a downturn, some fintechs, such as independent lenders, will be more vulnerable to economic forces than those working to service banks' regulatory needs.
Credit card aimed at thin-file consumers rebrands, raises $12M
Deserve is offering unsecured cards to young adults who do not have traditional credit scores. The Silicon Valley startup uses a proprietary algorithm that analyzes bank account activity to evaluate the likelihood that borrowers will repay.
LendingHome adds $450 million to ramp up originations
Fintech and marketplace lender LendingHome is getting more than $450 million in investment and funding from different channels to help support mortgage production growth and technology improvements.
