Financial Services

The insurtech achieved a $2 billion valuation following a mega-raise with participation from Jay-Z, and it should add a B2B offering to profit from insurers’ own digitization efforts.

The UK neobank and cloud solutions provider will offer accounting and compliance services to Tide clients—a move that could elevate Tide’s popularity with fledgling businesses.

eBay rolls out lending to UK SMBs: The ecommerce giant is partnering with embedded finance platform YouLend to extend loans to its sellers—giving the former a chance to make itself stickier for platform sellers and the latter access to data and loan growth.

Revolut adds online retail savings feature: The neobank’s new browser extension automatically looks for ways that customers can save while shopping online—and the tool can also help Revolut engage with its card users.

The Chinese insurance marketplace uses AI to match consumers with suitable coverage options—and its digital-first solution can help bridge China’s insurance gap, especially since the life and health insurance market is set to grow.

Illimity follows profitable 2020 with strong 2021 start: The Italian neobank reported a Q1 net profit of €12.6 million ($14.4 million), up 86% QoQ—showing how challenger banks can succeed with a balance of both SMB and consumer services.

Freelancer-centric Lili doubles users in six months: The neobank reached the 200,000 customer mark as it raised $55 million in its third funding round in less than a year, showing signs that its niche market play is paying off.

Following Elon Musk’s highly anticipated “SNL” hosting gig over the weekend, we dive into the reasons for the volatile crypto’s rise in popularity and its impact on online brokerage apps.