Fisker was facing “potential financial distress” as early as last August, according to a new filing in its Chapter 11 bankruptcy proceeding, which the EV startup initiated earlier this week. The admission provides a clearer picture of Fisker’s troubles in 2023 as it struggled to ramp up deliveries of its flagship Ocean SUV, despite CEO […]
Finbourne taps $70M for tech that turns financial data dust into AI gold
Companies in fields like financial services and insurance live and die by their data — specifically, how well they can use it to understand what people and businesses will do next, a process that is becoming increasingly dominated by AI. Now, a startup called Finbourne, founded out of London’s financial center, has built a platform […]
Linq raises $6.6M to use AI to make research easier for financial analysts
When generative AI tools started making waves in late 2022 after the launch of ChatGPT, the finance industry was one of the first to recognize these tools’ potential for speeding up the data-gathering and research process. Speed, after all, is vital when you’re advising investors who need to respond quickly to market changes. Now a […]
Slingshot raises $2.2 million to provide financial services to artists
Sanil Chawla remembers the meetings he had with countless artists in college. Those creatives were looking for one thing: sustainable economic infrastructure that could help them scale rather than drown them in paperwork, filings and tracking down receipts. Chawla thought he might have a solution and launched a music monetization platform in 2020. During the […]
Jio Financial unit to buy $4.32B of telecom gear from Reliance Retail
Jio Leasing Services Ltd (JLSL), a subsidiary of Jio Financial Services, plans to buy customer premises equipment, devices and telecom equipment worth $ 4.32 billion from Reliance Retail over the next two financial years, according to a postal ballot notice (PDF) sent to shareholders seeking approval of the deal. JLSL is entering the business of […]