Tomo, a digital mortgage lender leveraging AI-driven technology, has secured $20m in a Series B funding round. The latest investment was led by Progressive Insurance, with additional participation from existing investors Ribbit Capital, NFX, and DST Global Partners. This brings Tomo’s total funding to $130m. Founded by former Zillow executives, Tomo is focused on modernising
Lower, a leading digital mortgage lender, has announced its acquisition of Neat Labs, renowned for its end-to-end mortgage origination software. Lower will integrate Neat Labs’ proprietary software into LowerOS, a comprehensive, cloud-based mortgage platform designed to enhance the borrower experience and streamline loan production costs. Founded in 2015, Neat Labs has been pivotal in optimising
Innovation is essential to ensure payments keep pace with consumer demand and to enable merchants to find new ways to engage and serve customers. However, to ensure that innovative new payment methods are introduced and their benefits are realized by both consumers and businesses, payment decision-makers are reluctant to take the plunge and adopt new
One of the biggest non-bank retail mortgage lenders in the country, loanDepot, Inc., unveiled a cutting-edge digital home equity line of credit today (HELOC). This ground-breaking new solution provides homeowners with a strong option for addressing inflation and rising consumer debt with a level of digital ease, convenience, and speed to funding not currently available
PayPal Holdings, Inc., in partnership with National Philanthropic Trust (NPT) and Vanguard Charitable, announced Grant Payments. This new product enables Donor-Advised Fund (DAF) sponsors, community foundations, and other grantmakers to deliver grants to charities quickly and electronically via PayPal. Charities will be able to collect awards soon after the grantmaker has authorized the cash thanks
Over the last five years, the discipline of fraud prevention has transformed considerably and continues to evolve swiftly. As a result, prior realities regarding fraud prevention are increasingly becoming myths. Legacy suppliers spread these beliefs in order to stay relevant, but industry leaders recognize the difference and are moving forward. The first widespread misconception we’ll
Forage, a payments processor that makes it easier for grocers to accept SNAP EBT payments online, announced today that it has raised a $22M Series A funding round to accelerate online grocery access for America’s 42 million SNAP EBT recipients. The round was led by fintech specialist firm Nyca with participation from PayPal Ventures, EO Ventures,
2C2P, a worldwide payments platform, announced a partnership with rezio, Asia’s premier mobile booking solution for attraction, tour, and activity operators, to expand access to digital payments for its travel clients and their customers. Customers will be able to utilize a variety of payment methods, from cards to mobile wallets, thanks to 2C2P, which will
Mastercard announced the appointment of Adam Jones to lead its operations across the Middle East and North Africa (MENA) Central cluster in his new role as Country General Manager. Adam is responsible for Saudi Arabia, Egypt, Jordan, Lebanon, Bahrain, and Iraq markets. “I am delighted to be part of Mastercard’s journey with this new role
Synapse, a global banking-as-a-service platform that increases access to financial products, recently announced the launch of Global Cash, a secure cash management account product that enables residents in more than 35 countries to invest and hold U.S. dollars. Global Cash allows U.S.-based FinTechs to expand their market reach by simplifying the onboarding of international customers through effortless
MatchMove, a Singapore FinTech, has bought eCommerce startup Shopmatic, also from the same country, for $200 million. This shows how much the startup ecosystem in India and Southeast Asia has been consolidating. The combined entity will be called the MatchMove Group and will target revenues of $400 million and four million customers in over 15
Volopay, corporate cards, and payable management fintech firm backed by Y-Combinator, today announced it has signed a partnership with Visa to be part of Visa’s Fintech Fast Track Program which will significantly expand Volopay’s offering of financial management solutions in the Australian market. Visa’s Fintech Fast Track Program enables Volopay to issue Visa cards to
