Online gaming platform Roblox announced $150 million in Series G funding. The round, led by Andreessen Horowitz, values Roblox at around $4 billion. Nice, but know what's nicer? The company's profitable on a cash-flow basis and expects to generate $1 billion in bookings this year, CFO Michael Guthrie told the WSJ.
Financial-technology startup Varo Money Inc. said Monday it has received regulatory approval to use federal deposit insurance, a significant step in the fintech industry’s quest to take on traditional banks.
The Vancouver, the Washington-based company, which operates a cloud market intelligence platform for sales and marketing teams, is seeking to raise up to $500 million in the offering. If it hits or exceeds that number, the offering would rank as one of the bigger software debuts in recent months.
Banking as a service serves as a software platform that connects financial institutions (FIs) to a variety of innovators with value-added services that help them acquire and retain new customers via new and evolving use cases. Application programming interfaces (APIs) simplify that access for banks and for FinTechs that want their innovations to reach their customers.
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