Earnings caused some stocks in the Fintech IPO Index to fall, but the overall performance was positive, rising 1.2%.
some 2 digits Gainers led the way.
MoneyLion shares have risen more than 20% over the past five trading sessions.
Similar Featured in PYMNTS earlier this month, Business models have changedAs CEO Dee Chaubey told Karen Webster, the company could be likened to the Expedia of financial services.
He said the average FICO score in the U.S. is about 710, but MoneyLion’s installed base exceeds that level. Fifty-five percent of MoneyLion’s corporate business is personal loans, ranging from $10,000 to $50,000. He said the company’s strategy for the coming months and years, and growth of 20% to 30%, includes leveraging GenAI and other technologies to link accounts and give customers a holistic view of their financial situation.
Sezzle’s shares rose more than 19%. It was reported mid-month Celerant Technology has enabled users of its e-commerce platform to offer customers a “buy now, pay later (BNPL)” option at checkout, both in-store and online.
The company has implemented additional integration with Sezzle to enable these options at the point of sale. In storeCelerant said in a press release.
The two companies had already partnered to offer BNPL options online, where These efforts It had been It will be announced in April 2023.
Earnings are heading for a downturn
These gains were offset by companies whose stock prices rose on earnings news.
Futu Holdings announced its latest financial results last week.
The company said in a statement: First quarter revenue was $331.3 million, up 9.2% sequentially. The company added 177,161 new paying customers, up 331% year over year, and first quarter average daily revenue transactions increased 7% year over year to 549,854. Through The company announced that at the end of the quarter, it had 22.5 million users and 1.9 million paid subscribers worldwide, up 12.3% and 23.5%, respectively. Momo More than 200% reported Quarterly The number of registered clients increased by the end of the latest quarter.
Futu’s shares fell 2.5%.
Huize announced in its March quarterly financial results:Across the insurance platform, Year 1 Insurance premiums increased 29.7% year-on-year to 857.2 million yuan, more than double the amount from the previous quarter.
As of March 31, the total number of insurance customers had increased to 9.6 million. As of the end of March, Huize had partnered with 120 insurance companies, including 74 life and health insurance companies and 46 non-life insurance companies. The repeat purchase rate for long-term insurance products was 40.4%, up 70% year-on-year.
Total premium income facilitated on the platform was 1.718 billion yuan ($237.9 million) in the first quarter of 2024, down 11.1%. Operating revenue was 310.3 million yuan ($43 million) in the first quarter of 2024, up 3.8% year-on-year. The company’s shares fell 9.1%.
others KE Holdings released its latest financial reportThe stock price fell 9%.
The company reported That’s awful Transaction value was RMB629.9 billion (USD87.2 billion), down 35.2% year-on-year. GTV from existing home transactions was RMB453.2 billion (USD62.8 billion), down 31.8% year-on-year. GTV from new home transactions was RMB151.8 billion (USD21.0 billion), down 45.4% year-on-year. Net revenue was RMB16.4 billion (USD2.3 billion), down 19.2% year-on-year.
According to the company, the number of stores was 44,216 as of March, up 7.1% from the previous quarter. Year. Active Shop The number of mobile monthly active users increased by 7.5% to 42,593. user Average: 47.7 million.
Upstart shares were flat.
The company that The company partnered with Seattle Credit Union, a Washington-based bank with more than $1 billion in assets and 55,000 employees. memberThe joint initiative will see loans being provided to new and existing individuals. member, and Expanding Based on existing relationships.
Seattle Credit Union became a lending partner for the Upstart Referral Network in February 2023. With the Upstart Referral Network, eligible personal loan applicants who meet Seattle Credit Union’s credit policies on Upstart.com can receive a customized offer when they transition into a Seattle Credit Union-branded experience to complete the online membership application and closing process.
AvidXchange shares fell 4.3%.
In the announcement, AvidXchange and Community Brands’ MIP Fund Accounting have partnered to provide nonprofits with a fully digital invoice-to-payment process.
The collaboration will see AvidXchange’s accounts payable automation solutions integrated into MIP’s cloud-based, SaaS cash accounting solutions for nonprofit and government organizations, available to MIP’s 6,000 customers.
AvidXchange’s API integration with MIP allows customers to sync general ledger codes, vendor lists and invoices. and payment.
The fully digital invoice-to-pay process created by this integration also includes configurable user permissions, transparency into data flows between systems, custom workflows that support an additional layer of control on the platform, and real-time data and insights into an organization’s finances.
