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FinTech news in ANNA category

Financial Services startup Stenn raised $50M led by Centerbridge Partners LP

Stenn — which applies big data analytics, taking a few datapoints about a business (the main two being what money it has coming in and going out based on invoices) and matching them up against an algorithm that takes some 1,000 other factors into account to determine its eligibility for a loan of up to $10 million; and on the other side taps a network of institutions and other big lenders to provide the capital for that financing — has raised $50 million in equity funding to expand its business after seeing accelerated growth.

Banking startup Novo raised Series B round of $90M led by Stripes

This, in fact, can also potentially provide a steer to Novo on what might be most popular and potentially worth considering as in-house products in the future, but for now it serves another couple of key purposes: it makes Novo more useful for its customers, and it provides more data sources to Novo to build future products.