Revamping commercial lending with Able

Revamping commercial lending with Able

In an interview with The Financial Revolutionist, Able’s Co-Founder and Head, Diego Represas, explains how Able hopes to solve major problems in the commercial lending space, outlines the founding team’s path to the product they’ve built, and shares his vision for an impactful and expedited commercial lending market.

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Is Klarna really focused on profitability?

Is Klarna really focused on profitability?

BNPL giant Klarna announced that its losses have tripled in the first six months of 2022, reporting losses of $581M. Its revenue rose by 24% over the same period.

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Meta bets big on in-app purchases

Meta bets big on in-app purchases

WhatsApp, the messaging platform owned by Meta, announced a shopping feature for India-based consumers to purchase groceries and other items within WhatsApp. The feature is launched in partnership with JioMart, an Indian e-commerce company.

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El Salvador’s consumers demand better banking, not crypto

El Salvador’s consumers demand better banking, not crypto

In early July, El Salvador-based payments startup n1co raised $12M in a pre-seed round. The fintech spinoff of super-app Hugo, n1co launched as its own company in early 2022.

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How much is crypto really worth?

How much is crypto really worth?

Reporting by Bloomberg suggests the crypto sectors’ peak market cap of $3T may have been misleading. Crypto’s value now hovers around $1T.

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Growing insurance connections with bolt

Growing insurance connections with bolt

In an interview with The Financial Revolutionist, bolt CEO Jim Dwane details bolt’s growth strategy, highlights bolt’s value proposition, and shares his view on bolt’s future.

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BNPL players might pivot from Gen Z to B2B

BNPL players might pivot from Gen Z to B2B

BNPL startups like Billie, Mondu, Tranch, and Two are offering short-term credit to businesses facing cash-flow crunches. The short-term B2B loan industry is currently valued at $700B.

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With supply-chain struggles, nearshoring demand booms

With supply-chain struggles, nearshoring demand booms

Corporate bankers have reported greater interest among business clients to move their supply chains closer to where their consumers are located. Clients are interested in both “onshoring,” which involves returning previously offshored activities to the business’ home country, as well as “near-shoring,” which moves those activities to nearby countries.

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Goldman’s not at peak performance. What does that mean for fintechs?

Goldman’s not at peak performance. What does that mean for fintechs?

Reporting by the Financial Times suggests Goldman Sachs is lagging behind its main competitor, Morgan Stanley. Shares in Goldman trade at 1.1 times book value, compared to 1.7 times for Morgan Stanley.

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Chance of Celsius collapse increases as crypto winter persists

Chance of Celsius collapse increases as crypto winter persists

A new court filing suggests Celsius Network, the cryptocurrency lender that declared bankruptcy in July, only has enough money to sustain itself until October. At current crypto prices, Celsius holds $2.8B less in cryptocurrency than it owes clients.

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Will Tiger Global pivot to potatoes?

Will Tiger Global pivot to potatoes?

Tiger Global’s most recent 13F filing reveals that it has sold its shares in Robinhood, Zoom, and DocuSign, and has taken a $12.8M position in Lamb Weston, which makes frozen potato products. The hedge fund has lost $17B and erased almost two-thirds of its lifetime gains this year.

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Affirm may struggle to meet its CEO’s expectations

Affirm may struggle to meet its CEO’s expectations

In an interview with the Wall Street Journal, Affirm CEO Max Levchin said that a recession will prove Affirm’s underwriting models to be superior to those of banks. Affirm's stock has dropped 77% since its all-time high in November 2021; the S&P 500 has declined 9% in the same time frame.

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Is Andreessen Horowitz becoming the next SoftBank?

Is Andreessen Horowitz becoming the next SoftBank?

Venture-capital firm Andreessen Horowitz announced that it’s invested $350M in Flow, a rental-community startup. Flow is the latest venture by Adam Neumann, who previously founded and led WeWork.

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MercadoLibre doubles down on credit business

MercadoLibre doubles down on credit business

In an interview with Bloomberg TV, MercadoLibre CFO Pedro Arnt said the company will continue to expand in the credit space. More than half of the Latin America-based e-commerce platform’s revenues now come from its fintech branch.

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The mortgage layoffs are here.

The mortgage layoffs are here.

Firms of all sizes in the mortgage space have announced major layoffs since the Fed increased interest rates to fight inflation. Analysts predict a 35% to 50% decrease in mortgage origination in 2022.

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