Investment

Dozens of digital tools are billed as democratizing finance. But a number of entrepreneurs still see massive gaps.

The government helped the gas pipeline operator recoup some of the funds it paid to cyberthieves, but that's unlikely to happen often. Banks should shore up password security to minimize risk and be willing to reject hackers' demands in the event of a breach.

Deserve, a credit card technology startup, raised $50 million from backers including Mastercard and Ally Financial’s strategic investment arm, its chief executive said in an interview.

Upgrade, a lending startup that counts Banco Santander SA and SVB Financial Group’s Silicon Valley Bank as investors, is seeking to triple its valuation in a fresh funding round, according to a person with knowledge of the matter.

Roxe says the distributed ledger technology that removes costly middlemen from international transactions can also lower expenses for currency conversions.

The cloud-based software vendor has completed a $10 million funding round through BlackFin Capital Partners and Picus Capital.

How technology is enabling new types of payment transmission and what this means for banking.

Distributed ledger projects in banking are few and far between — many have stalled and others remain experiments. Robert Townsend, who has worked with banks around the world and written a book about blockchain technology, explains some of the ways financial institutions could be using it, for instance in small-business lending and supply chain finance.

The company, which started in personal financial management, has grown quickly by helping consumers avoid overdraft fees and, more recently, adding a no-fee bank account. It's counting on a merger deal with a special-purpose acquisition company to fuel further growth.

Revolut is in the early stages of a fundraising round that could value the British company at $20 billion or more.