Venture funding

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.

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.

Efforts to build better connections to bank customer data, trade digital currency and explore artificial intelligence for security and compliance purposes were some of the biggest draws of fundraising for U.S. startups.

Its early days yet, but decentralized apps will democratize finance, says Andrew Keys, cofounder of ConsenSys Capital, the financial services arm of ConsenSys.

Prometheum may succeed whether others have failed because it has attempted to work closely with regulators.