Author: nripn

(Bloomberg) — Google is working on artificial intelligence software that resembles the human ability to reason, similar to OpenAI’s o1, marking a new front in the rivalry between the tech giant and the fast-growing startup.Most read on BloombergIn recent months, several teams at Alphabet Inc.’s Google have made progress on AI reasoning software, according to people with knowledge of the matter, who asked not to be identified because the information is private. These software programs are better at solving multi-step problems in fields such as mathematics and computer programming.AI researchers study models of reasoning as they search for the next…

Fintech has been driving change in financial services for over a decade, attracting billions of dollars worth of investment. Recent quarters have seen a slowdown in the pace of deals being closed, but fintech innovation remains a very powerful economic driver in the global economy. Finding the right focus Source: Pulse of Fintech, biannual analysis of global fintech financing by KPMG Despite some slowing in the pace at which investments in fintech are being made, there is no shortage of investor optimism in this area and there is every reason to expect that fintech will continue to help define the…

MEXICO CITY (Reuters) – The fintech arm of Latin American e-commerce giant MercadoLibre, Mercado Pago, has submitted its application for a banking license to the Mexican regulator, the unit said on Wednesday.The request was sent to the National Banking and Securities Commission (CNBV) earlier this month, Mercado Pago said in a statement.In May, Mercado Pago said it aimed to become the country’s largest digital bank through the license.“This will allow us to continue to innovate and expand our financial services, which millions of people need,” Pedro Rivas, director of Mercado Pago in Mexico, said in the release.The license would give…

Disclaimer We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi We want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It is possible that some of the investors we feature have ties to other companies, including competitors or companies we write about. However, we would like to assure our readers that this will have no impact on the integrity or impartiality of our reporting. We are committed to providing accurate and unbiased news and information to our audiences, and we will continue…

(Bloomberg) — OpenAI struck a deal to raise $6.6 billion in new funding, giving the artificial intelligence company a $157 billion valuation and bolstering its efforts to build leading generative AI technology in the world.Most read on BloombergThe round was led by Thrive Capital, the venture capital firm led by Josh Kushner, which invested $1.3 billion. Microsoft Corp., OpenAI’s largest backer, has invested about $750 million, on top of the $13 billion already invested in the startup, according to a person familiar with the matter. Other investors included Khosla Ventures, Fidelity Management & Research Co. and Nvidia Corp., the chipmaker…

South African fintech startup LittleFish, which enables banks to better serve SMEs, has raised an undisclosed amount from TLcom Capital and Flourish Ventures to help it scale. Co-founded in 2021 by Brandon Roberts and Miod Davith Kahwa, Little fish aims to address the financial services gap for SMEs in Africa through a comprehensive digital platform that enables banks to better serve SMEs. By partnering with financial institutions, the startup offers a range of services, streamlining financial operations, offering digital payment processing and facilitating access to credit. The partnership model allows banks to retain their SME customers while offering a more…

Unlock Editor’s Digest for freeRoula Khalaf, editor-in-chief of the FT, selects her favorite stories in this weekly newsletter.Character.ai is looking to rebound after Google poached its founders in a $2.7 billion deal by focusing on improving its consumer products rather than creating AI models, as concern grows that big tech will crush competition from rival start-ups.Dominic Perella, the company’s new interim chief executive, told the Financial Times that the San Francisco-based company to start up had largely abandoned the race to create large language models in the face of better-funded competitors such as Microsoft-backed OpenAI, Amazon and Google.Instead, three-year-old Character.ai…

BASIC Home Loan, a pioneering mortgage delivery startup, has successfully raised $10.6 million (approximately INR 87.5 crores) in its Series B funding round, led by Bertelsmann India Investments (BII). This round also saw participation from notable investors including CE-Ventures, Gruhas, LetsVenture, 100 Unicorns and Venture Catalysts, as well as existing investor Ashish Kacholia.Use of fundingThe newly acquired funds will be allocated to:Market expansion: Strengthen its presence in different cities.Loan portfolio development: Build a strong portfolio to cater to a wide range of borrowers.Technological improvement: Improve technological capabilities to streamline operations.About the BASIC home loanFounded in 2020 by Atul Monga and…

As artificial intelligence continues to reshape the financial landscape, AI-powered wealth management tools are becoming essential, especially for younger generations facing the great wealth transfer – the baby boomers’ trillion-dollar transfer to younger generations over the next 20 years.We asked CJ Follinirecognized expert in asset management and millennial wealth management and an adjunct professor at NYU with over 30 years of experience in finance. He is also the investment director of NOYACK Alternative investments, managing over $1 billion in assets under management with diverse asset management experience. Noyack Wealth Club, Follini’s nonprofit foundation, has spent the last two and a…

Welcome to TechCrunch Fintech! This week, we look at Human Interest’s journey to an IPO, fintech’s new unicorn, a host of new fundraising rounds, and much more. To receive a roundup of TechCrunch’s biggest and most important fintech stories in your inbox every Tuesday at 8 a.m. PT, subscribe here. The big story 401k provider focused on SMBs Human interest announced last week a funding round of 267 million dollarsthus paving the way for a listing on the public market. No timetable was given. CFO Tripp Faix told TechCrunch: “We are looking to become a public company when the time…