Block’s Earnings Beat Estimates but the Stock Drops. Here’s Why.

Block’s Earnings Beat Estimates but the Stock Drops.  Here’s Why.

Text size Jack Dorsey co-founded Block and remains its chair but is no longer CEO. Joe Raedle/Getty Images Block said Thursday that Bitcoin revenue at its Cash App unit dropped 34% in the second quarter, but the fintech co-founded by Jack Dorsey still managed to beat Wall Street estimates by 2 cents. In aftermarket trading, … Read more

SoFi Stock Surges. A Strong Beat and Raise Earns It a Price Target Boost.

SoFi Stock Surges.  A Strong Beat and Raise Earns It a Price Target Boost.

Text size SoFi Technologies stock jumped Wednesday, a day after the financial services company posted record quarterly revenue and raised guidance for fiscal 2022. SoFi (ticker: SOPHIE ) reported a second-quarter adjusted loss of 12 cents a share on $356 million in revenue. Analysts surveyed by FactSet were forecasting a loss of 14 cents a … Read more

Decoding Tradingo’s strategy in a crowding market

Decoding Tradingo’s strategy in a crowding market

A flurry of platforms has fired up massive competition in the online discount brokerage space. With fuss-free sign-ups, easy-to-use apps, and venture money, these platforms have been able to crack customer acquisition to a large extent. Retaining customers, though, remains a challenge. “No one reports the number of customers (traders) they have retained,” says Parth … Read more

How Lorien Finance is revolutionizing the student loan market with attractive interest rates and faster approvals

How Lorien Finance is revolutionizing the student loan market with attractive interest rates and faster approvals

“Financing hurdles hold back millions of Indian students from considering US education. And the students who do avail loans from Indian banks end up paying high-interest rates and fees, impacting their ability to save money and access credit for other important needs in life,” notes Nikhil MudgalFounder and CEO, Lorien Finance. With 14 years of … Read more

Are the fintechs losing their fins?

Are the fintechs losing their fins?

In the mid-90s, professional wrestling in the United States was at its best. It was the World Wrestling Entertainment (WWE) ruling the charts against the then upcoming World Championship Wrestling (WCW) promoted by United States billionaire Ted Turner. WCW had everything going right – the billionaire’s backing, unlimited budgets, primetime slots and the who’s who … Read more

Private-market correction just getting started: Alpha Wave’s Navroz Udwadia

Private-market correction just getting started: Alpha Wave’s Navroz Udwadia

Top Stories By Our Reporters Private-market correction just getting started: Alpha Wave’s Navroz Udwadia It has been a meteoric rise for Falcon Edge (now Alpha Wave Global), which has been catapulted into the top league of technology investors locally in a short time. After a hyper-busy two years of dealmaking and with a $ 10-billion … Read more

A Crypto Winter Is Setting In. Why the Outlook Is Different This Time.

A Crypto Winter Is Setting In.  Why the Outlook Is Different This Time.

Text size The prices of cryptocurrencies like Bitcoin and Ether have plummeted this year. Dusan Zidar / Dreamstime Between a collapse in prices, layoffs, and high-profile defaults, the winds of the next so-called cryptocurrency winter are blowing for Bitcoin and other digital assets. Bitcoin was trading near $ 20,200 late on Wednesday afternoon, down by … Read more

Post prepaid ban, NBFCs, fintech may bank on credit cards

Post prepaid ban, NBFCs, fintech may bank on credit cards

Non-banking financial companies (NBFCs) and fintech lenders may look to explore the credit card route to reach out to new customers, now that the prepaid card model has been junked due to a regulatory stricture. People in the industry pointed to Reserve Bank of India’s (RBI) April 21 master direction which allowed NBFCs to issue … Read more

Fintech start-up FinBox raises $ 15 million in Series A funding round

Fintech start-up FinBox raises $ 15 million in Series A funding round

FinBox, a B2B credit infrastructure fintech, has raised $ 15 million in Series A funding led by A91 Partners. The funding round saw participation from Aditya Birla Ventures and Flipkart Ventures, and existing investor, Arali Ventures. FinBox will use this capital to scale its offerings and expand to South East Asia. The company announced that … Read more

Infibeam Avenues forays into Australian payments market

Infibeam Avenues forays into Australian payments market

MUMBAI : Fintech company Infibeam Avenues Ltd on Monday said it is expanding its presence in Australia by opening wholly-owned subsidiary Infibeam Avenues Australia Pty Ltd to tap the burgeoning Australian digital payment space. The total transaction value in the digital payments segment in Australia is projected to reach $ 92,130 million in 2022, which … Read more