Fintech Focus For May 19, 2021

Quote To Start The Day: “I’ve failed over and over and over again in my life and that is why I succeed.”

Source: Michael Jordan

One Big Thing In Fintech: Drivers and homeowners will be able to purchase pay-per-mile auto insurance and homeowners insurance from Metromile and Hippo, respectively, and save up to 15% on their auto and homeowners insurance policies when bundled.

“Metromile is excited to launch a modern auto and homeowners insurance bundle,” Metromile communications director Rick Chen told Benzinga.

“Until now, you typically had to purchase both policies from the same insurance company to earn a discount, and we are changing that. We want people to have greater flexibility and control over how they pay for insurance, and with Hippo, we can provide fairer prices and the latest technology.”

Source: Metromile

Other Key Fintech Developments:

• Stake adds $30M from Tiger, DST.
• Secfi secures $150M investment.
• Payslip added $10M in a Series A.
• Rally added $30M Series B round.
• Twitter crypto trading via Bottlepay.
• Fidelity launches kid-friendly offers.
• Grab and Gojek move into fintechs.
• Lance closes on $2.8M financing.
• Brex unleashes new product offer.
• HSBC looks into digital wallet tech.
• Temenos has crypto bank support.
• Fireblocks passed $600B transfers.
• Tickeron unveiled AI trading robots.
• Vise raises $65M in Series C round.
• Ally Lending eyeing PoS financing.
• Valencia’s potential as fintech hub.
• I2c has added new leaders to team.
• JPMorgan Chase eyes innovation.
• Bybit will launch ethereum futures.
• China bans institutions from crypto.
• Batman artist to create comic NFT.
• You can call Amount a unicorn now.
• DailyPay adds $500M to transform.
• Wells Fargo taps Doma for its tech.

Watch Out For This: Canada’s housing market is running hotter than just about anywhere else in the world.

But despite the anxiety about irrational bidding wars and fears of the bubble bursting, what's fundamentally driving it is a worsening imbalance between supply and demand: Buyers want large homes but increasingly can’t have them because there isn’t enough space in and around the major cities where people work.

Source: Bloomberg

Interesting Reads:

• High yield default rate close to lows.
• Apple furthering MacBook revamps.
• FDA: The vaccinated need boosters.
• Using trees to develop EV batteries.
• Pelosi eyes China Olympics boycott.

Market Moving Headline: Treasury Secretary Janet Yellen called on Tuesday for business leaders to pay higher taxes to support government stimulus spending, and backed stronger labor unions and lowering barriers to foreign competition.

Source: CNBC