Newsletter Sent On: 02/25/2020

How Hot Is The Legal Cannabis Industry? Read more

Bitty Advance Has a New Major Partner
Craig Hecker, who founded and sold Rapid Capital Funding, has acquired a stake in Bitty Advance. Read more

Maryland State Legislators Want to Enact Prohibition on MCAs
A Maryland State Senator and 4 State Delegates are calling for a prohibition on merchant cash advances through a bill introduced this month that aims to make it illegal to arrange, facilitate or... Read more

United Capital Source Partners with Brex to Offer Deal on Card
United Capital Source has partnered with Brex on a deal that will see UCS customers receive bonuses upon sign-up for a Brex Corporate Card. Such rewards include 100,000 points in statement credit and ... Read more

Patreon Adds MCA-like Product With Patreon Capital
Patreon, the membership platform that provides payment and subscription services for creators, will now start funding those artists that are on its site through Patreon Capital. Said to be modeled after Shopify Capital. Read more

LendingClub Becomes First Fintech Lender to Buy a Bank
LendingClub announced that it has agreed to acquire Boston-based Radius Bank for a purchase price of $185 million, made up by cash and stock. Holding more than $1.4 billion in assets, the merg... Read more

Shopify Capital Originated $430 Million in Loans and MCAs in 2019
Shopify Capital, the e-commerce giant's small business financing arm, originated $430 million in funding through loans and merchant cash advances in 2019. Shopify now has more than 1 million e-commerc... Read more

BFS Capital Names New CMO, CPO
BFS announced the appointment of Patricia Korth-McDonnell as Chief Marketing Officer and Sheri Chin as Chief People Officer. Read more

Fora Financial Announces New President
Chief Financial Officer Andrew Gutman has been promoted to President. In his new role, Gutman will lead the executive team and assume day to day management responsibility of the company. Read more

Intuit to Buy Credit Karma
Intuit Inc is nearing an agreement to buy financial technology portal Credit Karma Inc for about $7 billion, the Wall Street Journal reported. Read more

LendingPoint Announces Pricing of Two Securitizations
Direct-to-consumer loan securitization rated by KBRA through 95% of pool balance with blended note yield of 4.037% Read more

The Fintech Legal Outlook for 2020: Top 3 Insights from Todd Hamblet
We recently sat down with ​Todd Hamblet, Fundbox’s new Chief Legal Officer​, and asked his thoughts about what legislative or legal issues would be shaping the fintech industry this year. Read more

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