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Sunday, February 16, 2020

Companies

PayPal to Add 35M New Accounts Despite eBay Decline

While PayPal finished strong in 2019, beating analyst estimates in terms of revenue, active usership and total payments volume processed, the company is distancing itself from eBay and looking to the future with its recent acquisition of Honey Science. In Q4 of 2019, PayPal reported adjusted earnings per share of $.86, an increase from $.69 at the same time last year. Revenue stood at $4.96 billion, up from $4.22 billion, and total payments volume (TPV) was up 22 percent to $199 billion...

Capital

Policygenius Scales Revenue 10X, Looks Towards Further Expansion

Policygenius revealed that it will use its new funds to hire additional staff, as well as expand its products offerings in 2020.  Launched in 2014 by Jennifer Fitzgerald and Francois de Lame, the company helps consumers shop for a variety of insurance options, including life, home, auto, disability and renters via its online marketplace. It has $60 million in annual revenue, a 10x increase since its last capital raise in early 2017. In fact, it is the fastest-growing life insurance distributor, with $45 billion in life coverage issued to date...

Leaders

Robinhood Focuses On Young Investors, Hits Milestones

Robinhood’s Co-CEO said that the free stock trading app’s impressive growth leads back to its focus on attracting a younger generation of customers. At the end of 2019, the company revealed that it had reached more than 10 million accounts, growing its user based tenfold in about three years. Vladimir Tenev, who launched Robinhood with fellow CEO Baiju Bhatt in 2013, told CNBC that the company aimed to bring “disenfranchised” millennials into investing, adding that the milestone is “a testament to what we’ve been able to do...

Features

US Needs Federal Sandbox to Catch Up with EU FinTech Innovation

While the FinTech market is booming around the world, the United States has fallen behind when it comes to both consumer adoption and the regulation needed to boost innovation. European regulators have worked hard to create an environment that promotes growth in the FinTech sector while still protecting consumers. The United Kingdom’s Financial Conduct Authority (FCA), for example, has operated a regulatory sandbox since 2015, working with 70 FinTech startups and seeing 90 percent of those bringing products to market...

Popular Articles

The Top 25 Women Leaders In Financial Technology of 2019

The Financial Technology Report is proud to announce and celebrate the exceptional women who are playing leading roles at the companies shaping the financial...

Top 50 Financial Technology CEOs of 2019

The Financial Technology Report is pleased to announce this year's awardees for the Top 50 Financial Technology CEOs of 2019.  Awardees were selected based...

The Top 25 Financial Technology CTOs of 2019

The Financial Technology Report is pleased to announce our inaugural awards for The Top 25 Financial Technology CTOs of 2019.  While CEOs are often...

The Top 25 RegTech Executives of 2020

RegTech has become a primary focal point for those operating within financial services.  Given the number of financial activities under regulatory review, the process...

The Top 25 InsurTech Executives of 2019

InsurTech has long captured the attention of the broader financial technology community as well as insurance industry. In 2019 alone, funding to companies in...

Mobile Fintech Entrepreneur Bassim Haidar Found His Motivation in His Family’s Past

Entrepreneur Bassim Haidar is currently one of Africa's most prominent billionaires--but this hasn't always been the case. Haidar, a Lebanese national, was born in Nigeria and lived there until he was 10. After his family moved to Lebanon, he finished school and attended Beirut University College. What motivated him to start his first business at age 20, however, was quite simple: he was looking to restore his family's lost fortune, a task he has now completed many times over...

The CapitalG Advantage, Much More than Deep Pockets

Lyft, Snap, Airbnb, SurveyMonkey, Glassdoor, and Duolingo are a sampling of Capital G’s great picks.  The investment firm began in 2013 in Mountain View,...

LendingClub’s CEO Slowed Down Growth to Boost Revenue

Online lending marketplace LendingClub has had a rough few years. After a successful IPO in 2014 that raised over $800 million on a nearly $9 billion valuation, the company soon saw a decline in stock value and eventually the departure of its founder and CEO over suspicious business practices...

Revolut Plans 24-Country Expansion Despite Big Loss in 2018

Revolut, a digital-only banking service provider, isn’t too worried about its staggering fiscal year 2018 losses. The company reported a loss of £32.8 million for the period against £58.2 million in revenue...

Plaid’s CEO Undeterred Even As Co-Founder, CTO Stepped Down

Plaid, the financial technology startup that enables fintech companies to access consumers banking data with their permission, is in a state of flux. Earlier this summer, Plaid, which has a valuation of more than $2.5 billion, announced the departure of William Hockey, co-founder, chief technology officer, and president. Hockey is staying on as a board member and his duties are being handled by the executive team including CEO Zach Perret...