FTT Update: Vote In the First Fintech March Madness Bracket!
Hey everyone, Jordan here.
Looks like I passed my FTT initiation, because I’m back! March is one of my favorite times of the year - the weather finally starts to turn in NYC, vaccine distribution hits overdrive and it’s MARCH MADNESS! In honor of the Sweet 16 starting this weekend, I thought it would be fun to form a fintech Sweet 16 and have our audience decide who is crowned the ultimate champion. Click this link to vote on the bracket below! We'll let you know who moves forward to the Elite 8 on Monday.
This weekend also marks our last in NYC after nearly a decade. Before we go, we’ll be feasting on Lucali (for all of our Austin friends: please send over pizza recommendations), going on a double date with Charley Ma tomorrow and having a puppy play date on Sunday.
Speaking of puppies, if you have yet to, tune into yesterday’s Tux Time podcast where Julie and Cokie talk about their disappointment with incumbent banks and their “personalized rewards.” For the record, Chase, neither of them have been to Olive Garden in 10+ years.
Robinhood's Going Public
It’s happening! Whether you love them or hate them, Robinhood is one of the most well-known fintech companies in the world and it has officially filed to go public. Rumor is that it’s targeting an April offering. Whether it’s a direct listing, IPO, or SPAC is still TBD, but FTT Expert Charley Ma wrote a great post yesterday for our premium subscribers on what type of valuation we should expect Robinhood to debut at. Lucky for all of you, I’m removing that post from the paywall and now all of you can see it here.
SoFi to Offer IPOs to Customers
SoFi is launching a new service that will let its customers get early access to IPOs, which are typically set aside for institutional investors and their wealthy clients. In order to do this, SoFi will underwrite these deals and get an allotment of shares in the process. To qualify, a SoFi customer will need to have at least $3,000 in account value, and I'd assume the allocation is fairly limited. For example: I remember when I worked at a large bank that underwrote some IPOs very few of our clients were actually able to get the shares they wanted. So if one pops up on SoFi and you qualify, I'd act fast!
First Batch Announced at Plaid's FinRise
A few weeks ago, we told you about the launch of Plaid’s FinRise program to empower early stage founders of color. This week, the first batch was announced! Highly recommend you check all of these companies out.
Global Data Consortium - Global identity verification API offering both eKYC and eKYB verification for businesses.
Guidefi - Financial wellness marketplace connecting communities of color to vetted, culturally attuned financial advisors.
OfColor - Enterprise financial wellness platform for employees of color including personalized PFM and loans that allow them to maximize their 401k contribution.
Walnut - Point-of-sale lending platform that works with medical providers to make healthcare more affordable for patients.
Zeta - Financial products and tools for couples and families.
Strategic Partnerships Manager - New Partnerships at Affirm: This role is responsible for identifying and executing new partnerships to help Affirm expand distribution and grow its merchant and consumer networks exponentially! This person will have extensive experience autonomously generating new business, navigating partnerships, a deep payments expertise, and will work cross-functionally to identify, structure, and execute some of Affirm’s largest and most strategic deals.
Product Manager (Banking) at Cash App: Cash App is one of the fastest growing financial brands in the world. Initially built to take the pain out of peer-to-peer payments, Cash App has gone from a simple product with a single purpose to a dynamic app with over 30M monthly active users. The Cash Banking Team is focused on making banking services relatable, instant, and accessible for everybody. In this PM role within Banking, you will lead the Cash Card experience including customer acquisition, personalization, fulfillment and establishment. As growth continues to accelerate and Cash App continues to enter new financial services, Square is looking for incredible people to help lead product development. You will help drive strategy to build Cash App into a leading provider of banking services and empower customers with better ways to grow and utilize their money. This role is critical because it entails building incredible features to redefine the banking experience, as well as establishing the deep level of trust required to serve as Square’s customers' financial institution of choice.
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