Capital markets

Strong mortgage and capital markets activity helped offset credit costs and one-time items in the third quarter at Citizens Financial Group. In a period of low rates, CEO Bruce Van Saun says he’d like to buy more fee-generating businesses.

Morgan Stanley’s $7 billion purchase of Eaton Vance marks the latest wager that finding a big partner is critical to survival in the asset management industry.

New York-based earned wage access (EWA) startup Clair has raised $4.5 million in a seed fundraising round to target the small-business market.

Tipalti, whose platform supports cross-border B2B supplier payments, has raised $150 million in its latest funding round, bringing the total it’s raised from outside investors to $280 million.

Looking to expand beyond its current role in providing compliant digital payment options for legal cannabis businesses, AeroPay has caught the attention of fintech investors.

Atlanta-based fintech Greenlight has raised $215 million in a Series C round and announced that it has achieved a valuation of $1.2 billion, giving it unicorn status.

Petal, the credit card aimed at millennials and others with limited credit histories, has raised $55 million in a Series C as main street banks pull back on credit during the COVID-19 crisis.

As more consumers look for alternatives to credit cards, investors are flocking to point of sale credit firms, with Affirm raising a fresh $500 million.

The new unit plans to connect the startups it backs, such as the global payments network Veem, with experts at the company who can provide business advice.

Bolster, a marketplace for executives who can fill roles on an interim or advisory basis, is expected to fill a key need for the bank’s technology and life science clients.