INSUBCONTINENT EXCLUSIVE:
Another afternoon, another round of funding for a mobile banking app
just closed on $20 million in Series A funding from Icon Ventures and Defy Ventures.David Velez, who is the founder and CEO of Nubank, the
Fast-forward a bit and Empower now employs 35 people and has attracted more than 600,000 active users to its platform, says Hogarth
that Empower is chasing is enormous, too
Hogarth says they also save $300 a year in additional fees they would pay a brick-and-mortar bank
Hogarth sounds surprisingly sanguine
level is that even if each upstart can attract 2 to 3 million customers, they can get to a multibillion-dollar market cap
have seen this story play out in Europe and Latin America and who are seeing the early phases of it in the United States , are apparently
keeping the money spigot open for now.Empower had earlier raised an undisclosed amount of seed funding from Sequoia, followed by a $4.5
million round led by Initialized Capital.
