FinTech IPO Index Up 0.6% as Opendoor CEO Exits

The FinTech IPO Index gained a relatively tame 0.6% through the past five sessions, as management changes at firms and earnings reports made the headlines.

Opendoor CEO Steps Down

Opendoor shares jumped more than 18%. As announced at the end of last week, CEO Carrie Wheeler stepped down, to be replaced by chief technology and product officer Shrisha Radhakrishna in the interim as the company looks for a replacement. The CEO search, according to the announcement, is “well underway.”

The company had reported its second-quarter results earlier in the month, where its $1.6 billion revenue was up 4% compared to the year-ago period. The platform logged 4,299 total homes sold in the most recent quarter, up 5% year over year.

Nu Holdings shares leaped 13.8% higher. In the second quarter, Nu added 4.1 million new customers, a 17% gain. Monthly average revenue per active customer, per the company’s announcement, crossed the $12 mark for the first time, reaching $12.2 in the second quarter, up 18% year over year. Revenues on an FX-neutral basis surged by 40% to $3.7 billion.

Riskified Leads to the Downside

XP Inc. reported Q2 2025 results on Monday (Aug. 18), highlighting record net income of R$1.3 billion, up 18% year on year. Client assets were roughly R$1.4 trillion, adding 14% from last year. Active clients were up 2% in the same timeframe. Sales gathered 4% to R$4.7 billion. Shares slipped 7%.

The decline in XP shares was outpaced by the 15.1% slide in Riskified stock. In its second-quarter data, sales were 3% higher to $81 million, and gross merchandise volumes gathered 4% to $36.4 billion.

Separately, and as PYMNTS reported earlier in August, Riskified and HUMAN Security partnered to help merchants prevent fraud and abuse when dealing with artificial intelligence (AI) shopping agents. This collaboration brings together HUMAN Security’s HUMAN Sightline, featuring AgenticTrust and Riskified’s eCommerce risk management expertise. The partnership aims to help merchants accept legitimate AI-driven purchases and block fraudulent attempts.

Payoneer shares were down by 0.6%. PYMNTS reported Monday the company is expanding its online checkout offering in partnership with Stripe. The collaboration is aimed at cross-border small- to medium-sized businesses (SMBs) wishing to sell direct-to-consumer. The partnership will launch first in the Asia-Pacific region, including Hong Kong and China, and will let SMBs accept a wider range of payments via online webstore checkout, including buy now, pay later options such as Klarna and Affirm, as well as Apple Pay and Google Pay.

Also on Monday, PYMNTS reported that Circle Internet Group acquired the high-performance consensus engine called Malachite from blockchain infrastructure and protocol designer Informal Systems. Shares of Circle were down 5.3% through the past week.