Capital markets

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.

The stock market has reached record highs despite rampant unemployment, recession and a global pandemic. What gives?

Betsy Cohen, formerly of The Bancorp Bank, and venture capitalist Ryan Gilbert have created a vehicle to raise hundreds of millions of dollars, purchase a technology company and expand it.

Record profits from trading and other capital markets activities helped to offset steep revenue declines in personal and business banking.

Socure, which applies machine learning to spot identity fraud, has raised $35 million in a new funding round from venture capital funds and banks.

Dutchie, an online cannabis delivery service for dispensaries, has raised $35 million by attracting rapper Snoop Dogg, basketball star Kevin Durant and former Starbucks CEO Howard Schultz as investors.

Vanessa Colella, innovation chief at Citi, says remote working has had a democratizing effect. She also touches on the types of technology Citi has been incubating, the startups it’s investing in and her efforts at fostering a culture of generosity.