Capital markets

Citigroup's venture capital arm is investing in technology that provides real-time analysis of millions of consumers' card transactions.

SendFriend has raised $1.7 million in a funding round to support the launch of its money transmission service for overseas Filipino workers to transfer U.S. dollars to the Philippines' pesos.

Venture capital-backed fintech funding surged 120% in 2018. Following is a summary of fintech milestones and potential future moves for the industry.

Technology investors are bulldozing cash into blockchain and artificial intelligence, but the “why” is just starting to emerge, as is the true nature of the innovation.

Banks are a primary market to be pursued by Blue Hexagon, which received $31 million in venture capital.

The new asset-based securities lending unit, based in Charlotte, N.C., will provide warehouse lines of credits to nonbank consumer and commercial lenders.

Featurespace wants to expand its fraud-fighting tool beyond its core audience of banks and payment processors to cover transactions across a broader industry spectrum including retail, gaming and insurance.

Just five months after first reaching a $20 billion valuation, Stripe has attracted another $100 million investment that's put it past $22.5 billion, allowing the fintech to put even more pressure on the legacy acquiring industry.

The U.S. e-commerce explosion is driving about $150 billion annually in returns, and Returnly is riding the trend with a service to eliminate the waiting time for consumers to receive funds from items they plan to return to the merchant.

CrediFi helps bankers pursuing commercial real estate loan growth minimize the risk in lending to customers they historically haven't served.

The New York based Petal uses machine learning to optimize the limited financial data available for low-information consumer groups and millennials, who often turn to installment loans from companies such as Affirm, Klarna and PayPal Credit.

Mobeewave, a provider of in-person contactless payment acceptance software, is getting an investment from Samsung Venture Investment Corporation that pushes a recent Series B funding round led by NewAlpha, Mastercard and Forestay Capital to nearly $20 million.

The core-banking vendor won the investment and ringing endorsements from the trade group and several banks because its open system and cloud delivery could eventually challenge entrenched tech players.

The fingerprint biometric firm Zwipe raised approximately US$ 14 million (Norwegian Krone 120 million) in its latest Series B funding round.

Fintechs are developing data-crunching, automated products that seek to help banks precisely calibrate capital levels. The banks' goal is to pass stress tests while maximizing returns to investors.

Calvin Broadus, better known as the rapper Snoop Dogg, will acquire shares in the Swedish-based alternative finance company Klarna from an existing investor as he becomes the face of Klarna’s new advertising campaign.

Ambassador provides balance sheet management, investment banking and capital markets services to financial institutions.

VC firms Capital 300 and Draper and Associates have made a Series A investment in Authenteq, a identity security firm that uses blockchain, which is gaining steam as a means to support digital ID.

Michael Bright is resigning as acting president of Ginnie Mae to run the Structured Finance Industry Group, a trade association that's been without a CEO since Richard Johns resigned in July amid a reported split with the group's board.

Acting Ginnie Mae President Michael Bright will leave his post on Jan. 16 and will no longer seek confirmation to be the permanent head of the mortgage secondary market agency.