Amazon Lending Program Growing Despite Fears About Payback Rate
Amazon economists expect its seller lending program to double the volume of loans underwritten this year, though repayment rates are expected to drop.
Source: businessinsider.com
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Amazon partners with Lendistry to expand small-business loan program
The partners aim to lend $150 million in the next three years to sellers from "socially and economically distressed communities."
Source: americanbanker.com
Goldman Sachs Nabbed Uber's Peeyush Nahar to Lead Its Consumer Biz
Goldman Sachs just hired Peeyush Nahar to run its consumer business, which includes its digital bank Marcus. Nahar previously led engineering at Uber.
Source: businessinsider.com
Egypt's fintech startup NowPay signs MoU with EBE – Digital Boom
The MoU marks one of the first collaborations between fintech startups and financial institutions in Egypt. NowPay allows corporate employees to get their salaries in advance any time in the month through its mobile app, which means access to emergency funding anytime, hence better manage their budget. Launched in 2019, NowPay aims at lowering employees’ financial stress by improving the four pillars of financial wellness for employees; saving, spending, budgeting, and borrowing. The company most recently raised $2.1 million in seed investment in May 2020 in a round led by Foundation Ventur...
Source: adigitalboom.com