Fintech Newsletter for 4/17/21

General News

Bank Earnings

Net-Charge off =10-6=4 and Reserve=10-4=6
Reserve =-10-4=-14 , (i.e reserve is released)
Net interest income :10,308 Non interest income :12,624 Total Revenue :22,932 Non interest expense :15,515 Provision for credit loss: -1860 Net Income before taxes = 22,932-15,515- (-1860) = 9,277
So total reserve "release" = -1860-823= -2,683M => approx $2.7B

Bank of America (NYSE:BAC) 1Q21 Earnings

Wells Fargo (WFC) Earnings 1Q21 Earnings

Citigroup Inc (NYSE: C) Earnings

2020 Global CVC report by CBInsights.

Fintech New Venture and IPO

  • Level, New York Based maker of financial products for employers, raised $27m in series A funding.
  • Ramp,spend management startup,raised $115m in funding.
  • Sunday, an Atlanta-based restaurant payment app, raised $24m in seed funding.
  • Routable, San Francisco-based B2B payments company, raised $30m in Series B funding.
  • IPO-Coinbase fetched $85b valuations in stock market debut.
  • Wage, San Francisco-based payroll data sharing company, raised $5m in seed funding.
  • Hatch, San Francisco, based neobank for SMBs raised $20m in new funding.
  • ConsensSys, a New York-based Etherium startup studio, raised $65m in new funding.
  • Clearcover, Chicago based car insurance startup, raised $20m in series D funding.
  • Zebra, an Austin-based insurance comparison site, raised $150m in series D funding.

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