Venture capital

Fintechs are facing unique challenges in the pandemic. There might be a resurgence in funding on the horizon, but startups are looking to see what they can do now to weather the storm.

Business models and adaptability will determine the success — or failure — of financial technology companies as they deal with fallout from the coronavirus outbreak.

Fueling its market expansion, U.K. earned wage access startup Wagestream has raised £20 million (about $25 million) in a Series B fundraiser from several VC firms.

VCs and lenders rely on business data such as transaction records to inform funding decisions for fintechs or small businesses, but bias and uneven representation in management still result in gender and racial disparity.

Checkout.com’s $150 million funding round triples the e-commerce company’s valuation to $5.5 billion, and it follows an even larger $600 million bet on Stripe this spring.

The mobile bank raised $241 million in its Series D round of funding, and expects to receive approval from regulators to become a nationally chartered bank this summer.

Venture capital investment has plummeted in many coronavirus-ravaged economies, but larger, profitable fintech firms with the right digital products might still score funding.

The agencies will give the industry another month to submit feedback on the so-called covered fund portion of the rule "in light of potential disruptions resulting from the coronavirus.”

New Vision 3, a Bulgarian venture capital firm backed in part by European Union grants to encourage SMB innovation, has announced it's dividing a $2.7 million investment among three Bulgarian fintech firms.

Southeast Asian ride-hailing giant Gojek has raised $1.2 billion for expansion, defying tech-sector turbulence and the coronavirus pandemic to secure funds to take on Grab Holdings Inc.