Category: Finance

Funding Circle, a London-based small business lending platform, named Steve Allocca as its U.S. managing director, the company announced Thursday. Allocca, who will report to CEO Lisa Jacobs, will play an important role in spearheading the company’s growth and expansion by serving more small businesses across the U.S., the company said. “I am excited to […]

New York City-based Metropolitan Commercial Bank will exit the crypto world, it said Monday, following a year in which the sector saw volatility in token prices and the downfall of several prominent exchanges. Metropolitan served as a banking partner for now-bankrupt crypto exchange Voyager Digital, and faced a spotlight in July, when it clarified to […]

Dive Brief: Corporate virtual card services provider Extend will expand its 90-employee workforce by 20% this year as it stretches its international reach, and potentially adds consumer card services later in 2023, CEO Andrew Jamison said in an interview last week. The New York company entered Canada last month by way of an agreement with […]

PayPal was regaining its footing last year after falling short of growth goals in 2022, but now it faces an e-commerce slump. Some industry observers are wondering out loud whether a new CEO will step in for the challenge. PayPal CEO Dan Schulman tried to reset the company’s priorities last year, but the worsening economic […]

Montreal-based fintech Nuvei has agreed to buy the Atlanta-based payments company Paya for $1.3 billion, the companies announced Monday. Nuvei, which enables companies to accept payments and offers payout options, plans to incorporate Paya’s integrated payment capabilities into its global platform, according to their Monday news release. Paya offers integrated payments in business-to-business, healthcare, nonprofit and education verticals, […]

The Great Resignation, rising interest rates, clogged supply chains, high inflation and geo-political unrest – plus the looming likelihood of a recession – have made it challenging for companies to focus on long-term growth.  “Assessing the state of your Accounts Payable department and ensuring that your organization is financially prepared to handle the unexpected is […]

There was a time last year when nine-figure (or near-), under-the-radar settlements were squarely Wells Fargo’s domain. The bank agreed in September to pay $94 million to settle a class-action lawsuit alleging it automatically placed mortgage borrowers into forbearance if they said they were experiencing financial distress. But the settlement came within a day of […]

New York Attorney General Letitia James filed a lawsuit Thursday against Alex Mashinsky, co-founder and former CEO of cryptocurrency exchange Celsius, alleging he defrauding hundreds of thousands of investors out of billions of dollars in cryptocurrency. The suit, filed in New York Supreme Court, alleges Mashinsky misrepresented his exchange’s safety to attract billions of dollars […]

Crypto infrastructure firm Securrency named Nadine Chakar, previously the head of State Street Digital, as its CEO, effective Jan. 9, the fintech announced Thursday. Chakar joined State Street in 2019 as the bank’s head of global markets but moved to lead its nascent 425-employee digital unit in 2021. State Street Digital launched that year to address not just […]

Crypto brokerage Genesis laid off roughly 30% of its workforce Thursday, or about 60 employees. “As we continue to navigate unprecedented industry challenges, Genesis has made the difficult decision to reduce our headcount globally,” a Genesis spokesperson told The Wall Street Journal and Bloomberg in an emailed statement. “These measures are part of our ongoing […]