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action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /home4/scienrds/scienceandnerds/wp-includes/functions.php on line 6114Source:https:\/\/techcrunch.com\/2023\/05\/25\/starlings-results-interest-rates-fintech\/<\/a><\/br> Earlier this month<\/span>, we noticed that several popular American fintech companies were seeing rapid revenue growth<\/a> thanks to high interest rates. Basically, interest-driven revenue was helping offset declines in consumer trading activity at Coinbase and Robinhood as people pulled back from active trading when the economy soured<\/a>.<\/p>\n The Exchange explores startups, markets and money. <\/em><\/strong><\/p>\n Read it every morning on TechCrunch+<\/a> or get The Exchange newsletter<\/a> every Saturday.<\/em><\/strong><\/p>\n Part of that economic spoiling was caused by interest rates rising around the world, but with countries taking a more measured approach to interest rate hikes, you could argue that we\u2019re nearing the current economic cycle\u2019s peak rate environment. Regardless, this increase in interest rates has created a massive growth opportunity for fintechs, both public and private.<\/p>\n <\/a>Enter Starling, a U.K.-based neobank that has raised $1.1 billion to-date, per Crunchbase<\/a>. The company\u2019s in the news today due to its long-time CEO and founder Anne Boden stepping down. As TechCrunch\u2019s own Ingrid Lunden pointed out in her piece<\/a>, if \u201cthere is an underlying story behind the timing of the departure, it\u2019s not completely clear what it is.\u201d<\/p>\n
\nStarling\u2019s results are more proof that high interest rates could be a boon for fintech<\/br>
\n2023-05-27 22:15:46<\/br><\/p>\n
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