Capital markets

Ludwig, a former regulator and CEO of Promontory Financial, and Mahan, the head of Live Oak Bancshares, say they want to back tech startups that support community banks. The ABA and ICBA are among the fund's investors.

Flutterwave, an Africa-focused financial-technology company, said it raised $35 million and will work in partnership with WorldPay and Visa as it seeks to expand across Africa.

U.K. digital payments provider and challenger bank Revolut is closing soon on its latest fundraising round with investors, including Technology Crossover Ventures, providing a $7 billion to $8 billion valuation for the startup.

French mobile payments app Lydia has raised €40 million (about $45 million) in a Series B fundraising round led by Tencent Holdings, owner of WeChat Pay.

PE firms have made investments in only seven banks in 2019, compared with 21 last year. Here's what's driving the slowdown.

The San Francisco-based Ripple, which launched in 2012, will use the funding to add personnel to its global organization and enrich its services that power payments using blockchain technology with its XRP platform.

The challenger bank might use the proceeds from its latest funding round to buy other fintechs that would allow it to add more products and services, its CEO said.

The country's top six banks were sideswiped by rising provisions for soured loans and slumping capital markets.

Nationwide Building Society is investing in the U.K. fintech charity app Percent, broadening Nationwide's support of charities and expanding Percent’s user base beyond its traditional core segment of students and young adults.

The decline in revenue from capital markets undercut gains in consumer banking and pushed fiscal fourth-quarter earnings below analysts’ expectations.