FinTech news in abstract ventures category

Tapping into identity verification data from credit bureaus (e.g. Equifax) and wireless carriers (e.g. T-Mobile) and combining it with real-time data from financial institutions’ core banking systems, Method can collate a person’s liabilities across more than 60,000 institutions in the U.S. and kick off tasks such as balance transfers, payoffs, bill pay and more. While the startup competes with big names like Plaid, MX, Spinwheel and Dwolla, Shah sees Method holding its own, particularly as the platform rolls out new features in the next few months including real-time credit card transactions, instant balance transfers and enhanced live data points for liabilities. Method, a startup that aims to make it easier for fintech developers to embed repayment, balance transfers and bill pay automation into their apps, today announced that it closed a $16 million Series A funding round led by Andreessen Horowitz with participation from Y Combinator (Method a Y Combinator graduate), Abstract Ventures, SV Angel and others. Shah points out that there’s no standard, technically easy way to access all of a person’s financial liabilities — their student loans, credit cards, mortgages and so on — and push money to those liabilities.

X1 Card is taking a different tack by underwriting customers based on their income rather than their credit scores, which the company says enables it to set credit limits up to 5x higher than traditional card providers.

Co-founders Roberto Enrique Kafati Santos and Jose Maria Serrano started the company after a career at McKinsey leading digital payments for Kafati Santos and at delivery company JOKR for Serrano.

Singapore-based Stashfin has raised $270 million in a new funding round as the neobanking platform, which currently only serves customers in India, looks to expand to Southeast Asia and other South Asian markets, it said Tuesday.

Starlight’s core customers are companies who need to convert some of their cash into crypto, many of which are digitally native but new to web3, Nguyen said. He added that Starlight has also seen interest in its product from crypto-native entities, including DAOs, which often invest in other companies, creating a need for them to convert cash into crypto and vice versa.

From the link, consumers go to a web page interface on top of the app and can make purchase choices from their favorite commerce site, including Shopify and Amazon, and pay with Apple Pay, Google Pay, Shop Pay or PayPal — features not often available because some social media sites don’t often play well with certain payment options, said Ownit co-founder and CEO Payman Nejati.