Capital markets

Flywire has raised $100 million in new venture capital to continue expanding its B2B cross-border payments platform beyond educational institutions to more corporations.

Dan Loeb’s Third Point has taken a stake in PayPal Holdings Inc. in a vote of confidence for the payments processor as it faces increasing competition from the likes of Amazon.com Inc. and Square Inc.

Merchant acquirers have moved mountains to embrace software and e-commerce over the old model of selling point of sale hardware, but there are signs that transformation is not enough to please investors.

The Birmingham, Ala., bank also saw lending decline in the quarter as strategic reductions in certain business lending lines offset gains in C&I and consumer.

The Los Angeles company, which focuses on Korean-Americans, aims to raise $50 million.

Both PayPal and Citigroup are taking a bigger role in the market for cross-border payments, a strategy that led both companies to participate in a $50 million round in PPRO Group, a U.K.-based cross border e-payment company.

As part of a capital-formation bill, House lawmakers are attempting to sprinkle in a handful of provisions to ease the industry’s burden.

With the recent focus on capital formation bills, lawmakers appear to be putting their Dodd-Frank angst aside.

While the Small Business Investment Companies program has reported disappointing results since its 2015 peak, participating funds are getting more looks from curious bankers.

Toronto-Dominion Bank agreed to acquire Greystone Capital Management in a push to become the largest Canadian money manager.