Today In Digital-First Banking: MotoRefi Lands $45 Million; Stash Mulls Options For Possible Market Listing
In today’s top news in digital-first banking, MotoRefi has notched $45 million in a Series B funding round, while Stash is mulling over options for a market listing. Plus, Stripe has launched multiple product updates.
MotoRefi, the motor vehicle refinance FinTech firm, landed $45 million in a Goldman Sachs Asset Management-led Series B funding round. The upstart will harness the fresh capital to keep on its path of accelerated growth by developing its team and investing in its platform. “In 2020, we proved we are the go-to platform for auto refinance. In 2021, we’re scaling that offering to make auto refinance accessible to everyone, helping more people save money on their car payments,” MotoRefi CEO Kevin Bennett said, as previously reported.
FinTech unicorn Stash is considering options for a market listing. It could end up combining with a blank-check company or perusing a traditional initial public offering (IPO). Stash operates a subscription platform, works with more than five million clients and has $2.5 billion under management. Stash CEO and Co-founder Brandon Krieg said, as previously reported, that the firm’s addition of its Smart Portfolios robo-advisory offering, in addition to other features, has brought about blockbuster growth. The news comes as Stash wrapped up a $125 million funding round in February.
Stripe has rolled out a collection of product updates that it said will grow the “reach and effectiveness” of its revenue platform, per an announcement. Payment Links is one component, enabling users to send payments via different venues such as social media and email. A GrabPay partnership will also help Singaporean and Malaysian firms accept GrabPay. And Radar Analytics Center, another update, provides companies with analysis of dispute trends and false-positive rates.
Read More On Digital Payments: