Enjoy complimentary access to top ideas and insights — selected by our editors. Want unlimited access to top ideas and insights? Subscribe Now
Fair Square Financial has received a $100 million equity investment from the Orogen Group to fund a credit card designed for underserved U.S. consumer segments.
Processing Content
The Orogen Group was created in 2016 by Vikram Pandit, who was CEO of Citigroup from 2007 to 2015, and by Philadelphia-based Atairos Group. Orogen focuses on financial services companies and has made prior investments in the financial IT consultant Virtusa. Pandit has also invested in the cryptocurrency exchange Coinbase after leaving Citigroup.
Fair Square, of Wilmington, Del., is a "cardtech" firm that uses data analysis to assess a consumer's individual risk for credit, which the company contends allows it to offer credit cards to consumers that other card issuers may have overlooked. Fair Square offers cards under the Ollo brand.
The Orogen investment builds upon the initial 2016 equity commitment of $200 million by the financial services-focused private equity firm Pine Brook.
Vikram Pandit, chairman and chief executive officer of the Orogen Group LLC, speaks during The Economist's Finance Disrupted conference in New York, U.S., on Thursday, Oct. 13, 2016. The conference will explore what the digital revolution means for finance and the broader economy. Photographer: Michael Nagle/Bloomberg
Bank-favored provisions that were included into the House's version of a bipartisan housing bill threaten to derail Senate passage, but Senate Banking Committee moderates seem skeptical of the combination.
The digital bank slashed its share volume and pricing the day before its public debut and following a mixed U.S. public debut for fellow Brazil fintech PicPay.
The Ohio bank said its 2027 earnings per share will be lower due to an accounting revision linked to its acquisition of Cadence Bank. But CEO Steve Steinour remains sold on Huntington's expansion plans, calling the Cadence deal a "home run transaction."
Houston developer Colony Ridge Development agreed to resolve allegations that it operated a bait-and-switch scheme targeting Hispanic immigrants that led to massive foreclosures.
The district's appeals court let stand a May 2025 ruling that dismissed most of the D.C. Attorney General's claims against EarnIn in a major win for the firm and good news for fintechs looking for favorable regulatory treatment.
