Category: Finance

Crypto lender Genesis Global Capital is preparing to file bankruptcy as soon as this week, Bloomberg has reported, citing people familiar with the situation. The firm, a subsidiary of Digital Currency Group, has been in negotiations with various creditor groups to remedy a liquidity crunch, according to Bloomberg. Genesis has had a rough year, starting […]

Billtrust’s new private equity owners plan to pursue mergers and acquisitions to build the business-to-business payments company into a broader platform for finance executives, the company’s recently installed CEO said. After the Swedish investment firm EQT purchased Billtrust for $1.7 billion last September, it named Sunil Rajasekar as CEO of the company in December. Lawrenceville, New […]

Dive Brief: Bank of America has initiated a partial hiring freeze as it attempts to quell costs and braces for a possible recession, Bloomberg, which cited sources familiar with the matter, reported on Wednesday. Executives at the Charlotte, North Carolina-based bank have been told to pause hiring except for the most vital positions, according to […]

As the new year begins, it’s natural to look at the environmental, social and governance policy debate and anticipate how the players would escalate their arguments.  Last year, 19 Republican attorneys general wrote perennial ESG punching bag BlackRock with concerns over the asset manager’s strategy.  Several of the same AGs, two months later, launched investigations […]

Dive Brief: Wakefern Food, which runs grocery banners such as ShopRite, Price Rite and Fairway Market, has opened an autonomous convenience store with frictionless checkout technology from Trigo at its corporate campus in Edison, New Jersey, the East Coast retailer cooperative said Tuesday in an emailed press release. Called The Pantry, the store is a […]

Dive Brief: U.S. payments startups lured venture capitalists to more fundraising rounds than any other part of the world during last year’s fourth quarter, but it trailed other parts of the world in dollars raised, according to a CB Insights report released Wednesday. The U.S. tallied 65 payment startup investments, 35% of the world’s 188 overall, […]

Dive Brief: Amid possible consolidation in the buy now, pay later sector, New York-based installment payment provider Splitit is on a path to acquire technology assets. “We’re not looking to be acquired,” CEO Nandan Sheth said in an interview at the National Retail Federation conference in New York on Tuesday. “We are interested in [acquiring] potentially […]

Dive Brief: Payoneer has named Webster Bank alum Bea Ordonez as its deputy CFO with the expectation that the board will appoint her to succeed the company’s current CFO, Michael Levine, after he steps down from the role in March, according to a Wednesday press release. Levine, an 11-year company veteran, will stay on at the […]

The mergers and acquisitions landscape in 2023 could be promising for banks on the hunt for fintech deals, experts say. Following a challenging year for the fintech sector, which has experienced a global drop in funding and mass layoffs, enterprising banks may be able to acquire startups whose previous valuations put them out of reach […]

Grasshopper Bank is partnering with Ramp to give the digital bank’s customers access to corporate cards and financial automation software, the company announced Wednesday. The $600 million-asset bank will offer small and midsize business clients access to Ramp’s platform, including its virtual and physical corporate cards based on referral, the New York City-based bank said. […]