In today’s top news, insurance tech startup Lemonade filed an IPO, and Affirm launched a high-yield savings account. Plus, retail dispute management firm Chargeback raised $6.6 million.
Lemonade Inc., the property and casualty insurance startup, has filed an initial public offering (IPO). The management team for the proposed offering includes some of the biggest names in financial services: Goldman Sachs & Co., Morgan Stanley & Co., Allen & Company, Barclays Capital Inc., JMP Securities, Oppenheimer & Co. Inc., William Blair & Company and LionTree Advisors.
Affirm has debuted a high-yield savings account called Affirm Savings. The alternate payment company said the offering is available through its app, which users can download from the Google Play Store or App Store, and comes with 1.30 percent annual percentage yield (APY).
Retail dispute management firm Chargeback announced Monday (June 8) that it has closed a $6.6 million Series A1 funding round. Chargeback said the funding will accelerate its growth and ability to help online and offline retailers decrease credit card disputes, achieve higher win rates and retain more revenue. The company said the COVID-19 pandemic has made chargebacks a more urgent concern as eCommerce transactions have spiked.
In a move to strengthen patient engagement and affordability, Flywire has unveiled new enhancements to its healthcare payments platform amid the pandemic. The firm is offering pre-service payments plans to give patients personalized payment options before service, and also offer customizable payment offers that adapt to a patient’s ability to pay to let providers address concerns of those who might be facing hardship due to COVID-19.
House hunters have been able to virtually tour prospective properties for years, but ID verification mandates in different states still often required in-person real estate closings. However, that all changed as the COVID-19 crisis forced many states to rethink their notary laws, says James Schlimmer, managing partner of Cottrell Title & Escrow. In this month’s Digital Identity Tracker, Schlimmer discusses how integrated biometric ID verification tools and remote online notary services are allowing buyers to close home purchases from across the country.
Guest checkout needs an overhaul as the great digital shift continues, Jess Turner, executive vice president of products and innovation at Mastercard, and Radha Suvarna, head of digital payments and lending for the Citi US Consumer Bank, tell Karen Webster. Leveraging the Secure Remote Commerce standards, they are delivering a consistent, streamlined and secure experience for Citi cardholders — by provisioning Citi cards through the mobile app to enable Click to Pay on 10,000 merchant sites.
Over the course of the lockdown, U.S. consumers have increasingly gone DIY on their beauty routines, from treating your hair to your nails. But what happens now? Do they go back to salons and nail parlors as states ease lockdowns, or do they stick with doing things themselves?