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Earnings powered the FinTech IPO Index 5% higher in a week that was, as has been the case for the last month, dominated by earnings.Sezzle kept up its post quarterly-report momentum, leaping more than 53% through the past five ses stanley cup sions. The recent Sezzle gains tack on to the 38% rally that came in the immediate wake of earnings.Expensify shares rocketed ahead by 51%. The company said this week that core business metrics were stabilizing, as revenue and paid users are within 1% of last quarter, with quarterly interchange, operating ca stanley thermoskanne sh flow and free cash flow up 14%, 168% and 10% from that quarter, respectively. The company also saw its paid member tally at 684,000, a decrease of 8% YoY. The earnings release also noted that the majority of active Expensify Card customers began transitioning to the new program, with 34% of spend migrated by end of Q2. Paymentus shares were up nearly 19%. In the company stanley cup uk s latest quarter, revenue was a record $197.4 million, a YoY increase of 32.6%, driven largely by increased billers and transactions. The total number of transactions gained 28.2% to 140.4 million in the most recent quarter.XPs stock leaped 18%.The companys second-quarter results showed that client assets totaled R$1.2 trillion in 2Q24, up 14% YoY and 2% QoQ. Year-over-year growth was driven by R$113 billion net inflows and R$30 billion of market appreciation, per the companys release. In the latest quarter, total TPV was R$11.5 billion, a 19% growth from last year.Open Lendings Qshr Business Travel Up, But Commercial Card Issuers Aren t Profiting
Last week San Francisco welcomed the latest unicorn to the herd P2P lending site Prosper. Prosper announced that it brought in another $165 million in venture funding and sailed right past the unicorn-making $1 billion mark to a total valuation of ~$1.9 billion.For all you FinTech scorecard toting enthusiasts keeping a running tally at home, Prosper was last valued just about a year ago May 2014 at roughly $600 million. While more than doubling-up is certain kubki stanley ly pretty impressive and joining the increasingly ridiculously misnamed Unicorn Club is a major achievement for any startup, this is not actually Prospers most impressive growth spurt. That actually happened between November of 2013 and May 2014 when Prosper sextuppled its value from a little over $100 million to the $600 million mark. In fact, Prospers valuation is currently about 50 times higher stanley hrnek than it was January 2013 when it was a member of the FinTech peanut club and valued at a mere $38 million.Prosper reports that the latest round of funding will help spur growth and it has certainly found investors willing to help them do it. Even, interestingly, the banks that as recently as a year or two ago wo stanley usa uld have been more likely to see a P2P lending platform like Prosper as a competitor, are now investors and partners.Credit Suisse NEXT Investors led the round with participation from some big name players like JPMorgan Chase, SunTrust, USAA and BBVA Ventures. Other investors i
Earnings powered the FinTech IPO Index 5% higher in a week that was, as has been the case for the last month, dominated by earnings.Sezzle kept up its post quarterly-report momentum, leaping more than 53% through the past five ses stanley cup sions. The recent Sezzle gains tack on to the 38% rally that came in the immediate wake of earnings.Expensify shares rocketed ahead by 51%. The company said this week that core business metrics were stabilizing, as revenue and paid users are within 1% of last quarter, with quarterly interchange, operating ca stanley thermoskanne sh flow and free cash flow up 14%, 168% and 10% from that quarter, respectively. The company also saw its paid member tally at 684,000, a decrease of 8% YoY. The earnings release also noted that the majority of active Expensify Card customers began transitioning to the new program, with 34% of spend migrated by end of Q2. Paymentus shares were up nearly 19%. In the company stanley cup uk s latest quarter, revenue was a record $197.4 million, a YoY increase of 32.6%, driven largely by increased billers and transactions. The total number of transactions gained 28.2% to 140.4 million in the most recent quarter.XPs stock leaped 18%.The companys second-quarter results showed that client assets totaled R$1.2 trillion in 2Q24, up 14% YoY and 2% QoQ. Year-over-year growth was driven by R$113 billion net inflows and R$30 billion of market appreciation, per the companys release. In the latest quarter, total TPV was R$11.5 billion, a 19% growth from last year.Open Lendings Qshr Business Travel Up, But Commercial Card Issuers Aren t Profiting
Last week San Francisco welcomed the latest unicorn to the herd P2P lending site Prosper. Prosper announced that it brought in another $165 million in venture funding and sailed right past the unicorn-making $1 billion mark to a total valuation of ~$1.9 billion.For all you FinTech scorecard toting enthusiasts keeping a running tally at home, Prosper was last valued just about a year ago May 2014 at roughly $600 million. While more than doubling-up is certain kubki stanley ly pretty impressive and joining the increasingly ridiculously misnamed Unicorn Club is a major achievement for any startup, this is not actually Prospers most impressive growth spurt. That actually happened between November of 2013 and May 2014 when Prosper sextuppled its value from a little over $100 million to the $600 million mark. In fact, Prospers valuation is currently about 50 times higher stanley hrnek than it was January 2013 when it was a member of the FinTech peanut club and valued at a mere $38 million.Prosper reports that the latest round of funding will help spur growth and it has certainly found investors willing to help them do it. Even, interestingly, the banks that as recently as a year or two ago wo stanley usa uld have been more likely to see a P2P lending platform like Prosper as a competitor, are now investors and partners.Credit Suisse NEXT Investors led the round with participation from some big name players like JPMorgan Chase, SunTrust, USAA and BBVA Ventures. Other investors i