In 2010, Ben Milne made a journey across the Silicon Prairie for his first taste from the big tech trough. Then a twenty-something founder of a two-person startup in Iowa, Milne arrived in San Francisco with no business connections but a burning...
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Photograph by Steve Pope/Bloomberg
Dwolla plans to keep its headquarters in Iowa, a state known more for its pork than for tech startups.
Silicon Prairie’s Dwolla Strikes Out West to Find $16.5 Million
Courtesy Jemstep
Jemstep provides algorithm-driven advice on how to save for retirement.
Why You Should Consider Taking Financial Advice From a Computer
Simon Roy prefers computers to professional money managers because machines don’t work on commission. The dark truth about the financial services industry is that brokers such as those found at a big bank branch or a strip mall often receive...
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Photograph by Lachian Currie
Is Silicon Valley becoming the new Wall Street?
Banks’ Pain Is Startups’ Gain
As major banks grapple with layoffs, fewer bonuses and expensive legal bills from mortgages gone bad, financial startups are gaining momentum. Three announcements out of Silicon Valley today illustrate how hot this industry is. Prosper Marketplace, a provider of personal...
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Photograph by Peter Cade
After raising $21 million, BillFloat isn't stopping there. The company plans to raise debt financing later this year.
BillFloat Raises $21 Million to Expand Loan Offerings
Where does an online micro lender go when it needs money? To venture capitalists, of course. BillFloat, a three-year-old San Francisco-based startup, raised $21 million to fund its plans to sign on more partners in the banking, telecommunications and utilities...
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Photograph by Jennifer S. Altman/Bloomberg
Former U.S. Treasury Secretary Lawrence Summers is joining John Mack and Mary Meeker on LendingClub's board.
LendingClub Adds Larry Summers to Its Board of Big Names
LendingClub’s high-profile board of directors just got even more star power. The provider of online consumer loans announced today that former U.S. Treasury Secretary Lawrence Summers joined the board, which includes ex-Morgan Stanley Chief Executive Officer John Mack and Internet...
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