News Letter for 01/30/21
Fintech News
Robinhood raises $1B from investors.
Ongoing short squeeze frenzy in stocks such as Game Stop(NYSE:GME) has forced Robinhood(a fintech company that provides a commission-free trading platform) to raise $1B. The company will use the new cash to meet collateral requirements from a central clearing facility for stock trades known as the Depository Trust & Clearing Corporation (D.T.C.C.)
JP Morgan to launch a digital-only bank in the U.K.
JP Morgan announced that it plans to venture into U.K. retail banking with a digital-only launch. JP Morgan will deliver all the banking services in U.K only through mobile apps.
Fintech Venture Capital
Nubank raises blockbuster $400M Series G at $25B valuation
Nubank is a Brazilian fintech company that provides banking solutions to consumers who don't have access to traditional banks in brazil and is also one of the major credit card issuers in Brazil. To date, Nubank has raised $1.2B, and the company's current valuation is at $25B.
TCV closes $4B fund
T.C.V., a venture capital firm(previous investments include Spotify,AirBnB ,Facebook etc) reportedly has closed $ 4B in its latest fund to invest in emerging trends, including Fintech.
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