Venture capital

Barwick Banking Co. will have the wherewithal to accelerate its expansion in Georgia and Florida after a $50 million investment from a new venture capital platform.

A representative for the bank said JPMorganChase is still dedicated to venture capital investors and new businesses.

A Plaid spokesperson said an IPO remains 'a milestone we're tracking toward' but it wouldn't happen this year.

The demand for embedded finance is not going away, but the initial rollout of banking as a service relied far too much on middleware providers without expertise in compliance and oversight. BaaS 2.0 must feature a more bank-centric approach.

The Raleigh, North Carolina-based bank lowered full-year guidance for 2024. Costly deposits are outpacing its yield on loans amid tepid borrowing demand.

The Raleigh, North Carolina-based bank grew loans and deposits in the second quarter as it won back business from former customers of the failed Silicon Valley Bank. First Citizens bought the remains of SVB last spring.

Investing in Main Street Act has passed the House three times with overwhelming majorities but has failed to gain traction in the Senate. Backers, including banks that invest in the funds, hope to flip the script with a third version.

A group of former FTX and Alameda Research employees plan to use the venture money to build out a cryptocurrency exchange called Backpack. It's one of the startups seeking to fill a gap left by the collapse of Sam Bankman-Fried's crypto empire. 

The fintech revolution has been more successful at working with banks than at trying to replace them, points out Gene Ludwig, former Comptroller of the Currency, chair of the Ludwig Institute for Shared Economic Prosperity, and co-founder of Canapi Ventures. Those with "must have" products will fare far better in 2024 than those with "nice to have" tools, he says.

Charlie, a neobank marketed to people 62+, and Carefull, which partners with financial institutions, recently raised their Series A's. A third, called EverSafe, is embarking on its first fundraise.

A remnant of the failed bank, now owned by First Citizens, is trying to reclaim its once-prominent role in venture-debt lending to startups. But competition from HSBC and JPMorgan Chase as well as fintechs has multiplied in recent months.

The firm's investors include Visa and PayPal, as well as the Teacher Retirement System of Texas

While federal efforts to provide funding for minority small businesses wither, a lawsuit seeks to shut down an effective source of private capital.

The firms are increasingly seeking to integrate generative artificial intelligence into their products, and banks are potentially interested customers. But such efforts are costly, the risks are high and "they want to make sure that they get it right," experts say.

Aite-Novarica, RBR rebrand as 'Datos Insights'; Singapore fines DBS, Citi for breaches in Wirecard scandal; the top-ranked employers for working fathers on Wall Street and more in this week's banking news roundup.

Fintech VC funding flooded into consumer-focused companies in 2021. Now, the tides are changing direction.

The North Carolina bank's venture capital arm has recently taken stakes in two early-stage companies, including one aimed at helping independent pharmacists, after cashing out on two others last year.

Leaders said the value of learning about emerging technologies outweighs a tighter economic environment.

The collapse of Silicon Valley Bank ratcheted up the financial pressure on startup companies that was already building. How can new entrants adapt?

Some tech startup clients had to scramble to retrieve money as the bank was closing. Many wonder which financial institution will fill the void.