Ethos leverages machine learning to offer users a faster online application process and tailored coverage.
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The US-based insurtech achieved a $2 billion valuation following the Series D round, with participation from showbiz royalty Jay-Z, Robert Downey Jr., and Will Smith,
per PR Newswire. Founded in 2016, Ethos offers both term and whole life insurance underwritten by partner
carriers. It will use the funding to invest in its tech and develop new products. Insider Intelligence
Ethos leverages machine learning (ML) to offer users a faster online application process and tailored coverage. It can take weeks for consumers to access life insurance coverage due to back and forth with incumbents, often
Nutmeg surpassed £3 billion ($3.85 billion) in AUM.
And it could use open banking to automate how users fund their investment accounts to further grow its AUM and break even.
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The UK-based robo-advisor surpassed £3 billion ($3.85 billion) in assets under management (AUM) and 130,000 users, up from
£2 billion ($2.56 billion) in AUM and 80,000 users in January 2020,
per Finextra. Launched in 2012, Nutmeg builds and manages portfolios based on users risk profiles and also offers a pension product. Nutmeg inches toward profitability. Insider Intelligence
Nutmeg scored strategic partnerships to drive AUM growth over the past year, likely improving its margins.
But fintechs should still participate to benefit from the Financial Conduct Authority s regulatory support.
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Twenty-two percent of fintechs that participated in the Financial Conduct Authority s (FCA) regulatory
sandbox have since gone out of business,
per research from AltFi. More than one-fifth of fintechs in the UK regulator s sandbox have collapsed. Insider Intelligence
The UK sandbox, which was the world s first and launched in 2015, allows select fintechs to test their services on a small group of consumers and get support from the FCA in identifying appropriate consumer protection safeguards.
DriveWealth partnered with Plaid to speed up the funding of online investing accounts.
The partnership could help the API brokerage platform better position itself to embed investing in everyday user activities.
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The US-based API brokerage platform partnered with Plaid to speed up funding of online investing accounts, DriveWealth bolsters API with Plaid partnership. Insider Intelligence
DriveWealth s API provides its 90 clients, including fintechs and financial institutions, with the underlying infrastructure to offer fractional share trading and robo-advisory products to their end users. Plaid s API connects with