Venture capital

Jo Jagadish, who joined TD Bank in April as head of commercial products and payments innovation, spent her childhood moving from country to country, so she's used to a world without borders — the kind of world emerging from the capabilities of fintech and demands of the pandemic.

The company said it will use the new funding to accelerate its growth.

PayPal is improving its ability to reach innovators, adding a key executive in its recent hire of former Wells Fargo senior vice president and fintech veteran Peggy Mangot to be operating partner at PayPal Ventures, PayPal’s VC team.

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.

Ed Skyler, the bank's global head of public affairs, says a newly established $150 million fund will make equity investments in firms seen as having a positive impact on society.

In another rollback of the bank trading ban, the federal agencies unveiled a plan to allow financial institutions to invest in multiple companies through certain fund structures.

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.

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 new CEO is the first outsider to head the scandal-ridden bank in decades; Facebook CEO faces the House Financial Services Committee on Wednesday to discuss Libra.

The U.K.-based fintech says that a recent crowdfunding campaign shows demand for its product, even though the amount it raised is well below funds obtained from VCs.

The company will use the funds to increase research and development efforts as well as expand its global presence.