TechCrunch| Mary Ann Azevedo | Aug 28, 2022

Then 2022 came

• In 2020, historically low interest rates led to a surge in both rates and purchases. Existing home buyers rushed to alter the terms of their loans and aspiring home buyers took advantage of those low rates to purchase homes.  More people were spending more time at home than ever due to COVID and many needed more space. Many relocated to new homes due to remote work possibilities.
  • This led to a boom in business for startups catering to home buyers. Companies (like digital mortgage lender Better.com) couldn’t keep up and had to go on a hiring spree to meet all the consumer demand. Venture dollars flowed into proptech after proptech.

See:  here)

Real estate tech startup Reali announced last week that it had begun a shutdown

Many fintechs are now focusing on nonprofits

Last week, I came across, or was pitched, several tidbits of news that made me realize that an increasing number of fintech companies are launching products to help nonprofits and charities more efficiently move, raise and distribute more money.

• First up, fintech startups Highnote and GiveCard said they are partnering to help nonprofits, shelters and governments issue prepaid debit cards to the “financially vulnerable” communities they serve.  Studies show direct cash payments can put people on a path to permanent housing and end their reliance on predatory lenders.

See: 

Why BNPL Swedish giant Klarna has sights set on Canada

Financial Consumer Agency of Canada publishes BNPL pilot study

• Los Angeles–based B Generous, a self-described “fintech for good” platform, has launched Donate Now, Pay Later (DNPL), a new tool it says allows donors “to make contributions to their favorite nonprofits through a proprietary philanthropic credit product called a Point of Donation Loan
• PayPal is expanding further into the charitable donations business with its August 25 launch of support for Grant Payments.

Continue to the full article –> here

The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada’s Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org