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Revolutionizing Retail Investing: Copy-Trading FinTech Dub Secures $30M Series A Funding for Expansion
Copy-trading platform dub has raised $30 million in a Series A funding round, co-led by Notable Capital and Neo, with participation from several notable investors and a $5.5 million venture debt facility from Silicon Valley Bank. Launched a year ago, dub allows users to replicate investment strategies of experienced investors, focusing on long-term financial literacy and transparency. The funding will help scale its ecosystem, enhance platform features, and promote financial inclusivity. With over one million downloads, dub aims to empower everyday investors, countering speculative trading by providing reliable investment advice through its “dub Advisors” program.
CFPB Designates FDX as an Official Standard-Setting Authority: A Milestone in Financial Data Exchange
The Consumer Financial Protection Bureau (CFPB) has designated Financial Data Exchange, Inc. (FDX) as a standard-setting body to enhance financial data rights. This designation supports the CFPB’s Personal Financial Data Rights rule, introduced in October 2024, which mandates financial institutions to enable seamless data transfers for consumers. FDX, with over 200 member organizations, aims to develop secure standards for accessing financial records. The CFPB imposed conditions on FDX, including avoiding conflicts of interest, reporting compliance, and ensuring accessibility of standards. The CFPB will monitor FDX’s compliance over the next five years to maintain fairness in the financial data landscape.
German Pension Tech Start-Up Penzilla Secures €3.2M Funding to Revolutionize Retirement Planning
Penzilla, a Munich-based pension technology company, is transforming occupational pension management with its innovative digital platform. Recently, it raised €3.2 million in seed funding from investors including Acadian Ventures and Delin Ventures. The platform automates complex pension processes, integrating with popular HR and payroll systems like SAP and Personio. This funding will help Penzilla strengthen its market position and expand partnerships with major pension providers like Allianz and Swiss Life. Catering to clients such as Lacoste and ProSiebenSat.1, Penzilla aims to modernize HR practices, reducing reliance on outdated methods like Excel and paper files.
Business Banking Startup Slash Secures $41M in Series B Funding, Achieving $370M Valuation
San Francisco-based banking startup Slash has raised $41 million in Series B funding, boosting its valuation to $370 million. The round was led by Goodwater Capital, with participation from existing investors like NEA, Menlo Ventures, and Y Combinator. Slash, founded by CEO Victor Cardenas Codriansky and CTO Kevin Bai, offers business banking services for online entrepreneurs, including checking accounts, automated accounting tools, and payment options. Initially targeting resellers, Slash now serves various industries, including cryptocurrency and marketing. The new funding will enhance its platform and expand its team, with a focus on developing internal analytics.
Plumery and Aequilibrium Join Forces to Revolutionize Digital Banking for Canadian Credit Unions
In response to the shutdown of Central 1’s digital banking services, Canadian credit unions are turning to innovative alternatives through a partnership between Plumery and Aequilibrium. Plumery, a digital banking platform provider, has teamed up with Aequilibrium, a digital transformation expert, to offer secure, scalable solutions for small to mid-sized credit unions. Their collaboration aims to simplify the migration process while ensuring customized user experiences and reduced operational costs. This proactive approach supports credit unions in maintaining continuity and enhancing customer services, highlighting the need for advanced financial technology accessible to smaller institutions.