Mondo plans to raise $19m to $26m for full banking licence
UK challenger bank Mondo plans to raise a further £15m ($19.4m) to £20m ($26m) as it seeks to have the restrictions on its newly awarded banking licence lifted.
Instavest takes $1.7m for social trading platform
Social investing platform Instavest has raised $1.7m in a seed round having graduated from Y Combinator.
FinTech startup to launch mass market robo-adviser
UK FinTech startup Munnypot has soft launched a robo-advice service designed to cater for the mass market at a fraction of the cost of traditional advice. Read more: www.professionaladviser.com
Lancai scoops up $27m for personal investments
Personal investments firm Lancai has raised ¥180m ($27m) in a Series B round of funding from Chinese online video firm LeEco.
LendUp raises $47.5m to expand credit card offering
Online lending and credit startup LendUp has raised $47.5m in a Series C round led by Y Combinator’s Continuity growth fund.
FinTech’s license to fail
Mondo received a commercial banking license in the UK. But that comes at a price. Read more : www.bloomberg.com
US Bank strikes deal with FutureAdvisor for robo advice
US Bank is striking a deal with FutureAdvisor to offer automated investing service. Read more: www.bankinvestmentconsultant.com
Uber partners with Betterment for driver retirement advice
Uber announced it has partnered with investment management company Betterment to provide free services to drivers for the first year. Read more: fortune.com
SelfScore raises $7.1m for international student credit
SelfScore has raised $7.1m in new venture funding to help bring much-needed financial services to international students. Read more: techcrunch.com
Ignition Wealth raises $762,000 from financial planning veteran
Robo-advisor Ignition Wealth has raised Aus$1m ($762,000) in its first round of venture funding from financial planning expert Barry Lambert.